Electra Group soars: 4 billion shekels in revenue, profit jumped by 60%
The infrastructure and construction giant concludes an exceptionally strong quarter with revenue of about 4 billion shekels and presents an unprecedented figure in its backlog for the rest of the year. It will distribute dividends in the amount of tens of millions of shekels.
Electra Group, managed by Itamar Deutscher, concludes this Tuesday the second quarter of 2026 with continued growth in activity volumes and improved profitability compared to previous quarters.
Main results for the second quarter of 2026: total revenue rose by approximately 17.1% to 4 billion shekels compared to 3.4 billion shekels in the corresponding quarter last year, driven primarily by organic growth across most business segments.
Gross profit for the quarter rose by approximately 11% to 262 million shekels compared to 236 million shekels in the corresponding quarter of the previous year. This increase is mainly due to higher profitability in the buildings and infrastructure projects segment in Israel, the operation and maintenance segment, and the concessions segment, offset by a decrease in international projects and real estate development.
The group's operating profit grew by approximately 43% to 139 million shekels compared to 97 million shekels last year. Net profit jumped by approximately 60% to 109 million shekels compared to 68 million shekels in the corresponding quarter of 2025.
The profit includes a gain from the Tashi transaction of about 45 million shekels (after tax). The group's EBITDA for the quarter rose by 21.8% to 263 million shekels compared to 216 million shekels in the corresponding quarter of 2025.
Segment results for the second quarter of 2026:
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Buildings and infrastructure projects in Israel: revenue rose by 34.7% to 2.1 billion shekels, supported by the contribution of Ter-Arma. Operating profit grew to 10 million shekels compared to a loss of 9 million shekels in 2025.
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Operation, service and maintenance: revenue rose by 10.8% to 935 million shekels, with operating profit up 5.4% to 78 million shekels.
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International projects: revenue amounted to 504 million shekels compared to 655 million shekels in 2025, impacted by the dollar exchange rate and lower profitability in the USA.
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Real estate development and construction: revenue rose by 26.1% to 237 million shekels, with operating profit of 7 million shekels.
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Concessions: revenue rose by 37.5% to 367 million shekels, with operating profit jumping to 53 million shekels, partly due to the Tashi transaction.
Main results for the first half of 2026: total revenue rose by 15.7% to 7.85 billion shekels. Net profit for the half-year grew by approximately 26% to 169 million shekels.
As of June 30, 2026, the group's liquid assets totaled about 1.2 billion shekels, with equity at 2.47 billion shekels. The backlog rose to 43.9 billion shekels. The board of directors approved a dividend distribution of about 41 million shekels.
Itamar Deutscher, CEO of Electra Group, stated:
"We are continuing the trend of improving results with strong revenue growth. The successful acquisition of Ter-Arma and our focus on energy and data center projects, with a new backlog exceeding 2 billion shekels, are yielding results. We recently finalized the financial closing of the 'Nofit' light rail project, valued at 13 billion shekels, and won the Highway 5 fast lane project. The Tashi transaction serves as a strategic partnership that will act as a key growth engine in the coming years."
