PR Newswire
TEL AVIV, Israel, Nov. 30, 2015
TEL AVIV, Israel, Nov. 30, 2015 /PRNewswire/ -- Elbit Imaging Ltd. (TASE, NASDAQ: EMITF)("Elbit" or the "Company") announced today its results for the third quarter of 2015.
Three months ended September 30, 2015 compared to corresponding period in 2014
The Company's loss for the three months period ended September 30, 2015 ("Q3 2015") amounted to NIS 2 million.
Consolidated income, revenues and gain for Q3 2015 amounted to NIS 51 million (US$ 14 million) compared to NIS 284 million in the corresponding period in 2014 ("Q3 2014").
About Elbit Imaging Ltd.
Elbit Imaging Ltd. operates in the following principal fields of business: (i) Commercial centers - initiation, construction, and sale of commercial centers and other mixed-use property projects, predominantly in the retail sector, located in Central and Eastern Europe. In certain circumstances and depending on market conditions, the Group operates and manages commercial centers prior to their sale. (ii) Hotels - hotels operation and management. (iii) Medical industries and devices - (a) research and development, production and marketing of magnetic resonance imaging guided focused ultrasound treatment equipment, and (b) development of stem cell population expansion technologies and stem cell therapy products for transplantation and regenerative medicine. (iv) Residential projects - initiation, construction and sale of residential units or plots designated for residential located primarily in India.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Any forward-looking statements in our releases include statements regarding the intent, belief or current expectations of Elbit Imaging Ltd. and our management about our business, financial condition, results of operations, and its relationship with its employees and the condition of our properties. Words such as "believe," "would," "expect," "intend," "estimate" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Actual results may differ materially from those projected, expressed or implied in the forward-looking statements as a result of various factors including, without limitation, the factors set forth in our filings with the Securities and Exchange Commission including, without limitation, Item 3.D of our annual report on Form 20-F for the fiscal year ended December 31, 2014, under the caption "Risk Factors." Any forward-looking statements contained in our releases speak only as of the date of such release, and we caution existing and prospective investors not to place undue reliance on such statements. Such forward-looking statements do not purport to be predictions of future events or circumstances, and therefore, there can be no assurance that any forward-looking statement contained our releases will prove to be accurate. We undertake no obligation to update or revise any forward-looking statements.
For Further Information:
Company Contact | |
Ron Hadassi | |
Chairman of the Board of Directors | |
Tel: +972-3-608-6048 Fax: +972-3-608-6050 | |
|
ELBIT IMAGING LTD. | |||
CONSOLIDATED BALANCE SHEETS | |||
| |||
| |||
| September 30 | December 31 | September 30 |
| 2 0 1 5 | 2 0 1 4 | 2 0 1 5 |
| | | Convenience |
| | | translation |
| (in NIS thousands) | US$'000 | |
| | | |
Current Assets | | | |
Cash and cash equivalents | 229,137 | 323,182 | 58,409 |
Short-term deposits and investments | 36,144 | 47,967 | 9,213 |
Trade accounts receivables | 16,222 | 24,067 | 4,135 |
Other receivables | 18,013 | 27,217 | 4,592 |
Inventories | 3,583 | 2,803 | 913 |
| 303,099 | 425,236 | 77,262 |
Assets related to discontinued operation | 885 | 63,466 | 226 |
| 303,984 | 488,702 | 77,488 |
| | | |
Non-Current Assets | | | |
Trading property | 1,566,127 | 1,875,937 | 399,217 |
Deposits, loans and other long-term balances | 23,492 | 27,226 | 5,988 |
Investments in associates | 294,069 | 349,537 | 74,960 |
Property, plant and equipment | 651,166 | 919,911 | 165,987 |
| 2,534,854 | 3,172,611 | 646,152 |
| | | |
| | | |
| 2,838,838 | 3,661,313 | 723,640 |
| | | |
Current Liabilities | | | |
Short-term credits | 407,842 | 207,193 | 103,962 |
Suppliers and service providers | 12,404 | 22,288 | 3,162 |
Payables and other credit balances | 55,479 | 99,162 | 14,142 |
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