From the Budget Department to Shapir: Yogev Gardos' new job

The infrastructure and engineering group Shapir, owned by the Shapira family, announces a significant appointment. Starting September 1, Yogev Gardos, former head of the Budget Department at the Ministry of Finance, will join it as a senior executive and will be appointed to the position of head of the Finance and Business Development Division.

Shapir stated that "Gardos has rich management experience in key positions in the public sector, alongside a broad macroeconomic vision and an understanding of the economy as a whole, which will assist in planning and managing the company's growth. He is known as a professional and a highly regarded manager, known for his ability to work in cooperation and generate agreements, as well as to act creatively and innovatively."

It is evident that there is also an interest here for Shapir, one of the largest infrastructure companies in the economy, to recruit a former key figure in the public service. The company stated that "his joining will thicken the management backbone at Shapir Engineering, as part of the group's capacity building ahead of the infrastructure revolution expected in the Israeli economy in the coming decade."

Gardos (43) served as head of the Budget Department at the Ministry of Finance for about five years, and in total worked in the Budget Department for about 15 years. As part of his role, he led significant economic policy processes and acted as head of the department under three different Ministers of Finance, including during periods of significant economic and budgetary challenges for the Israeli economy.

During his years at the Ministry of Finance, Gardos served on boards of directors and numerous public and government committees. Among other things, he served as a director at the Pi Glilot company, as a director and chairman of the finance committee of the Haifa Port, as a member of the executive committee of Atudot LeIsrael, as a member of the plenum of the Electricity Authority, and recently as chairman of the team for increasing competition in the banking system.

Gardos has a bachelor's degree in economics and accounting from the Hebrew University and a master's degree in business administration with a specialization in finance and banking from the Hebrew University, as well as a master's degree in public administration from Harvard University.

With the publication of the announcement of the appointment, Gardos stated that "the Israeli economy is facing a significant development momentum in everything related to transport and security infrastructure. For nearly 60 years, Shapir Engineering has been shaping the country's landscape with quality and efficiency that have become a byword in the industry, and I am proud to take part in the group's capacity building for the coming years. I look forward to working alongside the excellent employees in the company and leading, together with the management, the strategic growth of the group in the coming decade."

Jump in revenues and profits

Yesterday (Monday), Shapir summarized the second quarter of 2026, with its revenues jumping by approximately 21% and totaling about 1.7 billion shekels. All of the company's multiple business sectors grew in revenue, but a special improvement was recorded in the real estate sector thanks to an awakening in apartment sales as well as the company's assisted living activity (the "Ad 120" chain).

The gross profit margin from revenues also rose to 13.3%, compared to 12.9% in the corresponding quarter last year. The operating profit for the quarter totaled about 246 million shekels, compared to about 90 million shekels in the corresponding quarter. The company recorded a 130% jump in profit attributable to shareholders, which totaled about 108 million shekels at the end of the quarter.

What also helped the company's results in the second quarter was the recording of other net income in the amount of about 125 million shekels, mainly as a result of the revaluation of investment real estate assets. On the other hand, financing expenses for the period included a provision of about 45 million shekels for credit risk regarding loans given to an associated company.

Shapir Engineering shares have risen by 37% since the beginning of the year to a value of 15 billion shekels.