Menora Mivtachim Holdings Income Statement

Financials in millions ILS. Fiscal year is January - December.

Millions ILS. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Premiums & Annuity Revenue	7,052	6,573	7,169	6,502	5,982
Total Interest & Dividend Income	3,123	2,103	-	-	-
Gain (Loss) on Sale of Investments	-	-	2,515	-2,914	4,647
Other Revenue	-1,159	-984.07	1,674	1,196	1,073
Total Revenue	10,214	8,736	12,450	5,826	12,943
Revenue Growth (YoY)	16.93%	-29.83%	113.68%	-54.98%	35.41%
Policy Benefits	5,465	5,043	8,797	2,591	9,619
Policy Acquisition & Underwriting Costs	-151.46	-144.27	1,449	1,291	1,237
Selling, General & Administrative	-	-	1,291	1,155	1,048
Other Operating Expenses	1,021	965.73	34.13	37.02	23.95
Total Operating Expenses	6,414	5,984	11,571	5,074	11,929
Operating Income	3,801	2,752	878.4	752.13	1,014
Interest Expense	-257	-211.38	-214.46	-133.7	-97.58
Earnings From Equity Investments	52.75	31.12	9.26	8.39	11.47
Currency Exchange Gain (Loss)	-	-	6.71	17.68	-5.52
Other Non Operating Income (Expenses)	3.72	4.01	4.09	-12.01	-4.87
EBT Excluding Unusual Items	3,600	2,576	684.01	632.49	917.43
Gain (Loss) on Sale of Assets	-	-	0.13	0.48	0.77
Asset Writedown	-1.79	-0.69	108.09	41.05	47.47
Other Unusual Items	-	-	-	88.37	-
Pretax Income	3,598	2,575	792.22	762.39	965.67
Income Tax Expense	1,192	855.61	252.12	215.68	300.84
Earnings From Continuing Ops.	2,407	1,719	540.1	546.72	664.82
Minority Interest in Earnings	-55.94	-35.23	-24.02	-10.67	-9.15
Net Income	2,351	1,684	516.08	536.04	655.68
Net Income to Common	2,351	1,684	516.08	536.04	655.68
Net Income Growth	39.61%	226.30%	-3.72%	-18.25%	1.23%
Shares Outstanding (Basic)	62	62	62	63	63
Shares Outstanding (Diluted)	63	63	64	63	63
Shares Change (YoY)	-0.46%	-0.60%	1.80%	-1.08%	-
EPS (Basic)	37.71	27.17	8.34	8.56	10.36
EPS (Diluted)	37.29	26.59	8.10	8.56	10.36
EPS Growth	40.24%	228.27%	-5.42%	-17.33%	1.21%
Free Cash Flow	2,195	1,606	-351.21	-668.25	1,181
Free Cash Flow Per Share	34.82	25.36	-5.51	-10.68	18.66
Dividend Per Share	15.500	6.990	4.030	2.430	-
Dividend Growth	121.74%	73.45%	65.84%	-	-
Operating Margin	37.21%	31.50%	7.06%	12.91%	7.83%
Profit Margin	23.02%	19.28%	4.15%	9.20%	5.07%
Free Cash Flow Margin	21.49%	18.39%	-2.82%	-11.47%	9.12%
EBITDA	3,874	2,832	958.77	998.49	1,248
EBITDA Margin	37.93%	32.42%	7.70%	17.14%	9.64%
D&A For EBITDA	73.18	80.09	80.37	246.36	234.45
EBIT	3,801	2,752	878.4	752.13	1,014
EBIT Margin	37.21%	31.50%	7.06%	12.91%	7.83%
Effective Tax Rate	33.11%	33.23%	31.82%	28.29%	31.15%
Revenue as Reported	-	-	12,570	5,974	12,991

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.