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Ashdod Port publishes its fourth quarter and 2021 financial results

The Ashdod Port Company reports good results for the fourth quarter of 2021 and impressive annual results while dealing with the corona crisis. The summary of the company's annual reports shows:
Fourth Quarter
Net operating profit for the period, discounting the cost of early retirement, was NIS 69 million, an increase of 74% compared with the previous quarter.

The company's fourth quarter revenues amounted to NIS 317 million, an increase of 10% compared to the third quarter.
The net fourth quarter profit, discounting the cost of an early retirement plan, increased by 32% compared to the third quarter and stood at NIS 63 million.

2021
2021Operating profit amounted to NIS 195 million, an increase of 142%.

The company's 2021 revenues amounted to NIS 1.2 billion, an increase of 13.5% compared to 2020. The rise in revenues was influenced by an increase in the volume of cargo and in particular an increase in the volume of full containers, vehicle imports and general cargo.
In 2021, there was a significant increase of costs,  NIS 280 million, due to an early retirement plan that led to a loss of NIS 13.5 million.
Ashdod Port, which maintained its vital operations continuously during the Corona pandemic, recorded an operating record, breaking its previous record for the volume of containers handled and achieving an impressive 1.6 million TEUs. This is an all-time record for Israeli ports.

The total volume of goods handled by  Ashdod Port in 2021 was valued at NIS 129.5 billion.
The vehicle sector recorded an impressive increase of some 8.5% which in 2021 amounted to 132,564 vehicles compared to 122,174 in 2020. In the fourth quarter of 2021 there was an increase in vehicle imports of some 58% (38,000 units) compared to the third quarter. The decline that characterized the first months in 2020, due to the corona pandemic, was reduced in the last quarter of that year and the upward trend continued into 2021.

In the bulk cargo sector, there was a 5% decrease in 2021, which amounted to 8.9 million tons, compared to 9.4 million tons in 2020.
There was a 23% increase in general cargo with the total volume handled reaching 1.65 million tons in 2021 compared to 1.3 million tons in 2020. In the 2021 fourth quarter results for the general cargo segment there was an increase of 20% compared to the corresponding quarter of the previous year.

Chairwoman of the Board - Orna Hozman Bechor: "The corona crisis has affected the world economy in general and the Israeli economy in particular. Over the past year we faced challenges arising from the global crisis that led to a dramatic increase in demand and congestion at seaports in Israel and globally. Additionally, we worked and will continue to work harder to reduce the gaps in service to the Israeli economy and our customers in particular. We also had to cope with the fighting during Operation Guardian of the Walls during which period the port, as Israel's main supply artery,  met all of its targets and tasks. At the same time, we continue to prepare for competition following the opening of the new ports and improve services for our customers."

Shiko Janna, CEO of the Port of Ashdod, said: "The current year is a direct continuation of the corona period which was a significant managerial challenge. We were able to adjust and adapt to the frequent changes and thus not only survived the period but also flourished. During the year we recruited dozens of new employees to boost our ability to handle heavy loads and continued to develop our infrastructures. We have signed a historic efficiency agreement and strengthened our innovation and technological development arms. All of these actions will help us maintain the relative advantages of the Port of Ashdod over the new ports and will continue to strengthen our status as Israel's port"