Ashtrom Group Ltd. · TASE:ASHG
Ashtrom — Investor Presentation (May 2025)
40 slides from Ashtrom's investor presentation, May 2025
Slide 1: Presentation for Capital Market, May 2025
Over 60 Years of Excellence PRESENTATION FOR CAPITAL MARKET Based on March 31, 2025 Financial Statements May 2025 Convenience Translation into US$ HaPardes | Kiryat Ono | ASHTROM RESIDENCES
Slide 2: Disclaimer
| DISCLAIMER This presentation is not to be construed as an offer to buy Company securities or an risks and is uncertain, cannot be estimated in advance and is often out of the Company’s invitation to accept such offers, being solely intended for conveying information to control. investors. The mate
Slide 3: The Strength in Numbers
| THE STRENGTH IN NUMBERS ~ 310 Million US$ ~ 0.8 Million US$ ~ 42 Million US$ ~ 1,483 Million US$ ~ 2,183 Million US$ * Income Net profit attributable EBITDA Equity attributable Orders backlog Q1 2025 to shareholders Q1 2025 to shareholders as of March 31, 2025 Q1 2025 as of March 31, 2025 TA-90 A-
Slide 4: First Quarter Financial Overview
| FIRST QUARTER FINANCIAL OVERVIEW Income Million US$ Gross Profit Million US$ Operating Profit Million US$ 300 310 67 41 60 28 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Net profit attributable to EBITDA Million US$ Cash flow from current operations shareholders Million US$ not counting land p
Slide 5: Multi-Year Financial Overview
| MULTI-YEAR FINANCIAL OVERVIEW Income Million US$ Gross Profit Million US$ 1,307 1,386 297 1,246 1,296 267 267 1,201 1,199 249 1,063 240 240 196 310 67 2018 2019 2020 2021 2022 2023 2024 Q1 2025 2018 2019 2020 2021 2022 2023 2024 Q1 2025 Operating Profit Million US$ Net profit attributable to share
Slide 6: Multi-Year Financial Overview
| MULTI-YEAR FINANCIAL OVERVIEW EBITDA Cash flow from current operations Million US$ not counting land purchase Million US$ 292 221 222 * 221 262 242 237 ** 183 217 175 160 173 134 103 42 (26) 2018 2019 2020 2021 2022 2023 2024 Q1 2025 2018 2019 2020 2021 2022 2023 2024 Q1 2025 * EBITDA excluding th
Slide 7: A Decade of Remarkable Growth
| A DECADE OF REMARKABLE GROWTH Equity attributable to shareholders Million US$ 380 358 304 358 1,483 218 1,306 1,275 1,319 1,082 127 872 84 56 616 35 519 8 20 422 343 347 370 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 03.2025 Equity attributable to shareholders Cumulative dividend distr
Slide 8: With a View to the Future
| WITH A VIEW TO THE FUTURE | Income generating – thousand m² | Residential units to be marketed 1,044 thousand m2 17,440 units Income-generating: 551 Planning & Construction: In Marketing: 1,805 In the process of UDP approval: 160 10,469 Approved under UDP: In the process of UDP 5,166 approval: 333
Slide 9: Areas of Activity
| AREAS OF ACTIVITY 8 Autonomous Areas of Activity operating with optimal synergy enabling continued growth while taking advantage of operational and financial flexibility Executes large-scale projects in Initiates, acquires, and manages Initiates and markets residential and Initiates, markets, and
Slide 10: Ashtrom Construction
| ASHTROM CONSTRUCTION Experience. Professionalism. Quality. ~ 1.9 Billion US$ ~ 80 Projects 8 Companies Orders backlog as of March 31, 2025 * Execution of all types of construction Increasing orders backlog while and infrastructure projects maintaining profitability Income Gross Profit Segment Prof
Slide 11: Construction Orders Backlog
| ASHTROM CONSTRUCTION Orders Backlog Million US$ US$ 1,882 Million Backlog as of March 31, 2025 * 543 474 412 427 364 671 272 172 156 174 156 167 159 150 147 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2026 2027 2028 & onwards Orders backlog as of Actual execution Orders backlog as of December 31,2024 of works
Slide 12: Construction Projects Under Construction
| ASHTROM CONSTRUCTION Projects Under Construction Selected Projects 1000 Complex Rishon LeZion Kikar Ha Medina Tel Aviv Exchange Tower Ramat Gan Fast Lanes Project 269 thousand m2 453 housing units 355 housing units Financial scope million US$ 269 Financial scope 50% million US$ 149 Financial scope
Slide 13: Ashtrom Properties
| ASHTROM PROPERTIES * A Leader in Acquisition, Development, Construction and Management of Income-Generating Properties ~ 551 Thousand m2 ~ 2.1 Billion US$ ~ 0.7 Billion US$ ~ 24.2 Million US$ ~ 1.1 Million US$ ~ 5.4 Million US$ Scope of Real Estate Real Estate Value Total Equity NOI Q1 2025 FFO Q1
Slide 14: Properties Distribution
| ASHTROM PROPERTIES Properties Distribution * Location Extent of Occupancy NOI Value of Value of Weighted Weighted Average Properties Q1 2025 income- Rights & Cap Average LTV generating Development Rate Loans Interest Thousand m2 Million US$ Million US$ Million US$ Israel Commerce 100 90% 8 470 49
Slide 15: Income-generating Properties in Israel
| ASHTROM PROPERTIES Income-generating Properties 551 thousand m2 Selected Projects in Israel Hutzot HaMifratz Outlet Bat Yam Mall Hod Hasharon Hi-Tech Park Beit HaGavish Netanya 65 thousand m2 21 thousand m2 70 thousand m2 18 thousand m2 50% Ownership | 97% Occupancy 50% Ownership | 96% Occupancy 4
Slide 16: Income-generating Properties Abroad
| ASHTROM PROPERTIES Income-generating properties Selected Projects Abroad Dusseldorf Fritz Leonberg Leeds Manchester 22 thousand m2 16 thousand m2 21 thousand m2 17 thousand m2 100% Ownership | 96% Occupancy 100% Ownership | 89% Occupancy 100% Ownership | 98% Occupancy 100% Ownership | 95% Occupanc
Slide 17: Properties in Planning & Construction Stages
| ASHTROM PROPERTIES In Planning & Construction Stages 160 thousand m2 | US$ 47 million Expected NOI 1000 Complex (1) Lyfe C + D Ashtrom Campus Phase I Hi-Tech Park Colmore Rishon LeZion Bnei Brak Yavneh Hod HaSharon Birmingham 34,470 m2 above ground 44,5000 m2 above ground 35,000 m2 above ground 23
Slide 18: Properties in the Process of UDP Approval
| ASHTROM PROPERTIES In the Process of UDP Approval 333 thousand m2 Nes VaDegel Nes Ziona HaYetzira Ramat Gan Campus Yavneh phase II Petach Tikva / Givat Shmuel 13 thousand m2 * | 33% ownership 41 thousand m2 * | 80% ownership 61 thousand m2 *| 100% ownership 43 thousand m2 *| 50% ownership TOTAL 33
Slide 19: Ashtrom Properties NOI
| ASHTROM PROPERTIES NOI * 551 thousand m2 160 thousand m2 711 thousand m2 333 thousand m2 1,044 thousand m2 Extent as of In planning & Expected In the process of Total expected March 31, 2025 construction stages 2027-2029 UDP approval NOI Million US$ 144 89 97 85 69 73 61 2020 2021 2022 2023 2024 2
Slide 20: Ashtrom Residences
| ASHTROM RESIDENCES (formerly Ashdar) * Leading Company in Residential Initiatives and Urban Renewal ~ 0.7 Billion US$ 1,805 Housing Units 5,166 Housing Units 10,469 Housing Units Expected gross profit Under construction Approved under In the process of yet to be recognized and marketing * UDP * UD
Slide 21: Residences: Residential Units
| ASHTROM RESIDENCES Residential Units 17,440 Residential units under Construction and in Planning Phases * North 903 units Haifa | Or Akiva Under construction and/or marketing 1,805 HaSharon 5,130 units Netanya | Ra’anana | Herzliya | Ramat Hasharon | Kfar Saba | Tel Aviv 3,449 units 17,440 Approve
Slide 22: Residences: Unrecognized Gross Profit
| ASHTROM RESIDENCES Unrecognized Gross Profit The data reflects the Company’s share Units to be marketed Unrecognized Revenues Unrecognized Gross Profit Units Million US$ Million US$ 971 1,197 1,016 (12 sold) (268 sold) 1,154 194 268 3,793 Units 3,619 Million US$ 703 Million US$ 58 416 460 1,165 1,
Slide 23: Residences: Projects in Marketing
| ASHTROM RESIDENCES Projects in Marketing In marketing In marketing In marketing In marketing Go Yafo Tel-Aviv HaShaked, Kiryat Ono Galei Netanya Park Tower, Ramat Gan 350 Units | Ownership: 50% 195 Units 152 Units 180 Units | Ownership: 50% In marketing In marketing In marketing Pre-marketing The
Slide 24: Ashtrom Residence for Rent
| ASHTROM RESIDENCE FOR RENT Building Vibrant Communities 2,281 Units ~ 1.1 Billion US$ ~ 0.6 Billion US$ ~ 0.3 Billion US$ At various stages Value of assets Net Financial Debt * Appreciation projects in operation Operation of 1,126 residential units Construction of 1,155 residential units and comme
Slide 25: Residence for Rent: 2,281 Units
| ASHTROM RESIDENCE FOR RENT 2,281 residential units for long-term leasing 1,126 units 979 units 176 units In operation Under construction Under construction Land being planned (purchased) Haifa, Neot Peres In operation Under Construction Haifa | Neot Peres 184 units Lod 310 units Tel Aviv | HaGadna
Slide 26: Residence for Rent: In Operation
| ASHTROM RESIDENCE FOR RENT In Operation 1,126 Units 821 Million US$ 6 Million US$ 331 Million US$ 49% 2.76% Index linked Rental Units Property Value NOI Q1 2025 Appreciation of LTV * Average Interest * 100% occupancy Property Until 2039-2043 25% at a controlled price Neot Peres, Haifa HaGadna, Tel
Slide 27: Residence for Rent: Under Construction
| ASHTROM RESIDENCE FOR RENT Under Construction 1,155 Units 287 Million US$ 414 Million US$ Property Value Balance to be Invested Purchased International Quarter Lod Northern Bnei Brak Tel HaShomer Be’er Ya’akov Ramat Pinkas 310 units 248 units 139 units 282 units 176 units 1,366 m2 commercial 900 m
Slide 28: Ashtrom Industries
| ASHTROM INDUSTRIES * Comprehensive Value Chain Solutions Under One Roof ~ 0.3 Billion US$ 8 Companies 10 Concrete Plants Orders backlog as of March 31, 2025 Development, production, import, marketing Construction, expansion and operation of and sale of raw materials and products for the additional
Slide 29: Industries: Quarries
| ASHTROM INDUSTRIES Quarries Expand activity in the Creating of synergy within Increased revenues and aggregate quarries sector the sector and the Group profitability Sorek Quarry Hanaton Quarry Capacity Capacity ~ 50 million tons 18 ~ million tons Operation Commercial operation Operation Commercia
Slide 30: Ashtrom Renewable Energy
| ASHTROM RENEWABLE ENERGY Renewable Energy Investments and Development in Israel and Worldwide 430 MWdc 198 MWdc 195 MWdc 1,264MWdc 2,087MWdc Operational Construction Development Initiation Total Construction of a second project and The Company operates as an independent development and initiation
Slide 31: Renewable Energy Global Backlog
| ASHTROM RENEWABLE ENERGY Global Backlog ~ 2.1 GW USA Operational MWdc 399 Storage Poland MWdc Total Global MWdc MWh Construction * 195 Operational 28 (2) Operational 430 - Development ** 195 Total 28 Initiation *** 1,011 Construction * 198 - Total 1,800 Storage Israel MWdc MWh Operational 3 - Deve
Slide 32: Operational Project: Tierra Bonita, Texas
| ASHTROM RENEWABLE ENERGY Operational Project Tierra Bonita Project I Texas, USA In Q1 2025 the Company signed an investment Output Total Investment agreement with institutional entities for the 399 MWdc $435 million allocation of 36% of the project for$79 million, reflecting a value of $220 millio
Slide 33: Renewable Energy USA Projects
| ASHTROM RENEWABLE ENERGY USA Projects El Patrimonio Under Construction Texas, USA Planned Output 195 MWdc Construction Costs * $195 million Commercial Operation H2 2027 Total Expected Income ~$1.2 billion throughout the project’s life (40 years) PPA 20-year PPA was signed with CPS, the San Antonio
Slide 34: Ashtrom International
| ASHTROM INTERNATIONAL Contracting, Entrepreneurship and Income-generating Real Estate Overseas ~ 118 Million US$ ~ Million US$ 115 Value of Land and Inventory Value of Income-generating Real Estate Land Inventory in the USA, entrepreneurial activity in Portugal , and Expansion of entrepreneurial a
Slide 35: Profit & Loss Statement Summary
| PROFIT & LOSS STATEMENT SUMMARY Million US$ Q1 2025 Q1 2024 2024 Income 310 300 1,199 Gross profit 64 60 267 Gross profit margin 21.6% 20.0% 22.3% Appreciation of investment property, net 3 (2) 46 Operating profit 41 28 205 Financing costs, net 41 25 146 Income taxes (tax benefit) (1) 1 5 Net prof
Slide 36: Balance Sheet & Cash Flow Summary
| BALANCE SHEET & CASH FLOW SUMMARY Million US$ 31.03.2025 31.03.2024 31.12.2024 Total cash and short-term investments * 347 480 354 Liabilities 4,474 4,355 4,491 Equity 1,548 1,341 1,381 TOTAL ASSETS 6,023 5,695 5,872 Cash flow from operating activities before purchase of lands, net (26) 74 217 Sal
Slide 37: Financial Strength – Solo
| FINANCIAL STRENGTH – Solo 75 Million US$ Million US$ 172 1,483 Million US$ 855 Million US$ Cash Balance & Financial Credit Facilities Equity Net Financial Debt Short-term Investments for Utilization 56.8% Equity Ratio 36.6% Net Debt to CAP Bonds Repayment – not including interest Million US$ 194 1
Slide 38: Financial Debt
| FINANCIAL DEBT * Gross Financial Debt Net Financial Debt ** US$ 2,528 million 31.03.2025: US$ 2,245 million | 31.12.2024: US$ 2,310 million Million US$ 993 Residence for Rent 981 Renewable Energy 515 498 Bonds 368 Institutional 776 Residences 346 Entities 164 780 International 156 Industries 160 1
Slide 39: Dedicated to Promoting ESG
| DEDICATED TO PROMOTING ESG E Sustainable Environment Production, planning, and management of S Safe & Healthy Environment Ensuring the safe and healthy construction of G Ethical Business Environment Upholding an ethical infrastructure and sustainable properties and products properties and co
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