Ashtrom Group Ltd. · TASE:ASHG
Ashtrom — Investor Presentation (August 2025)
40 slides from Ashtrom's investor presentation, August 2025
Slide 1: Over 60 Years of Excellence
Over 60 Years of Excellence PRESENTATION FOR CAPITAL MARKET Based on June 30, 2025 Financial Statements August 2025 Convenience Translation into US$
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 ~ 671 Million US$ ~ 28 Million US$ ~ 94 Million US$ ~ 1,634 Million US$ ~ 2,172 Million US$ * Income Net profit attributable EBITDA Equity attributable Orders backlog For the period to shareholders For the period to shareholders as of as of 1-6.2025 1-6.2025 1-6.2025 June 3
Slide 4: First Half Financial Overview
| FIRST HALF FINANCIAL OVERVIEW Income Million US$ Gross Profit Million US$ Operating Profit Million US$ 647 671 147 127 137 85 1-6.2024 1-6.2025 1-6.2024 1-6.2025 1-6.2024 1-6.2025 Net profit attributable to EBITDA Million US$ Cash flow from current operations not shareholders Million US$ counting
Slide 5: Multi-Year Financial Overview
| MULTI-YEAR FINANCIAL OVERVIEW Income Million US$ Gross Profit Million US$ 1,528 327 1,374 1,429 294 295 1,324 1,322 265 265 671 147 2020 2021 2022 2023 2024 1-6.2025 2020 2021 2022 2023 2024 1-6.2025 Operating Profit Million US$ Net profit attributable to shareholders Million US$ 436 276 217 * 319
Slide 6: Multi-Year Financial Overview
| MULTI-YEAR FINANCIAL OVERVIEW EBITDA Cash flow from current operations Million US$ not counting land investment Million US$ 322 289 262 ** 245 * 243 239 202 193 190 177 94 (7) 2020 2021 2022 2023 2024 1-6.2025 2020 2021 2022 2023 2024 1-6.2025 * EBITDA excluding the profit of US$ 148 million attri
Slide 7: A Decade of Remarkable Growth
| A DECADE OF REMARKABLE GROWTH Equity attributable to shareholders Million US$ 418 395 335 395 1,634 241 1,440 1,406 1,455 1,193 140 962 92 61 679 38 572 9 22 465 378 383 408 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 6.2025 Equity attributable to shareholders Cumulative dividend distri
Slide 8: With a View to the Future
| WITH A VIEW TO THE FUTURE | Income generating – thousand m² | Residential units to be marketed 1,032 thousand m2 17,409 units Income-generating: Planning & construction: In Construction and/or In the process of UDP approval: 535 160 marketing: 1.883 10,447 Approved by UDP: In the process of UDP 5,
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 Ashtrom Construction Ashtrom Properties Ashtrom Residences Ashtrom Residences for Rent Executes large-scale projects in Initiate
Slide 10: Ashtrom Construction
| ASHTROM CONSTRUCTION Experience. Professionalism. Quality. ~ 1.8 Billion US$ 8 Companies in the Sector ~ 80 Projects Orders backlog as of June 30, 2025 * Execution of all types of construction Increasing orders backlog while and infrastructure projects maintaining profitability Income Gross Profit
Slide 11: Construction Orders Backlog
| ASHTROM CONSTRUCTION Orders Backlog US$ 1,844 Million Backlog as of June 30, 2025 * Million US$ 607 523 448 415 756 401 300 189 172 192 172 187 188 165 162 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2026 2027 2028 & onwards Orders backlog as of December 31, 2024 Actual execution of works Orders backlog as of
Slide 12: Construction Projects Under Construction
| ASHTROM CONSTRUCTION Projects Under Construction Selected Projects RISHO Complex Rishon LeZion Kikar Ha Medina Tel Aviv Exchange Tower Ramat Gan Fast Lanes Project 190 thousand m2 453 housing units 355 housing units Financial scope Million US$ 252 Financial scope 50% Million US$ 164 Financial scop
Slide 13: Ashtrom Properties
| ASHTROM PROPERTIES * A Leader in Acquisition, Development, Construction and Management of Income-Generating Properties ~ 535 Thousand m2 ~ 2.3 Billion US$ ~ 0.8 Billion US$ ~ 52 Million US$ ~ 1.2 Million US$ ~ 12.2 Million US$ Scope of Real Estate Real Estate Value Total Equity NOI 1-6.2025 FFO 1-
Slide 14: Ashtrom Properties Distribution
| ASHTROM PROPERTIES Properties Distribution * Location Extent of Occupancy NOI Value of Value of Weighted Weighted Average Properties 1-6.2025 income- Rights & Cap Average LTV generating Development Rate Loans Thousand m2 Million US$ Million US$ Million US$ Interest Israel Commerce 100 91% 16 524 5
Slide 15: Income-generating Properties in Israel
| ASHTROM PROPERTIES Income-generating Properties 535 thousand m2 Selected Projects in Israel Hutzot HaMifratz Outlet Bat Yam Mall Hod Hasharon Hi-Tech Park Kanot Complex 65 thousand m2 21 thousand m2 70 thousand m2 24 thousand m2 50% Ownership | 95% Occupancy 50% Ownership | 98% Occupancy 42.3% Own
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 | 95% Occupancy 100% Ownership | 95% Occupanc
Slide 17: Properties in Planning & Construction Stages
| ASHTROM PROPERTIES In Planning & Construction Stages 160 thousand m2 | US$ 52 million Expected NOI RISHO 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 2
Slide 18: Properties in the Process of UDP Approval
| ASHTROM PROPERTIES In the Process of UDP Approval 337 thousand m2 HaYetzira Ramat Gan Nes VaDegel Nes Ziona Campus Yavneh phase II Petach Tikva / Givat Shmuel 41 thousand m2 * | 80% ownership 13 thousand m2 * | 33% ownership 61 thousand m2 *| 100% ownership 43 thousand m2 *| 50% ownership TOTAL 33
Slide 19: Ashtrom Properties NOI
| ASHTROM PROPERTIES NOI * 535 thousand m2 160 thousand m2 695 thousand m2 337 thousand m2 1,032 thousand m2 Extent as of In planning & Expected In the process of Total expected June 30, 2025 construction stages 2027-2029 UDP approval NOI Million US$ 157 98 105 94 76 81 67 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$ 1,883 Housing Units 5,079 Housing Units 10,447 Housing Units Expected gross profit Under construction Approved under In the process of yet to be recognized and/or marketing ** UDP
Slide 21: Residential Units
| ASHTROM RESIDENCES Residential Units 17,409 Residential units under Construction, Marketing and in Planning Phases * North 903 units Haifa | Or Akiva Under construction and/or marketing 1,883 HaSharon 5,108 units Netanya | Ra’anana | Herzliya | Ramat Hasharon | Kfar Saba | Tel Aviv 3,444 units 17,
Slide 22: 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 1,230 1,096 185 (12 sold) (320 sold) 1,311 295 3,784 Units 3,965 Million US$ 741 Million US$ 15 134 169 1,414 1,
Slide 23: Selected Projects in Marketing
| ASHTROM RESIDENCES Selected Projects in Marketing Go Yafo Tel-Aviv HaShaked, Kiryat Ono - Phase I Galei Netanya Park Tower, Ramat Gan 350 Units | Ownership: 50% 195 Units 152 Units 180 Units | Ownership: 50% Pre-marketing The International Quarter Lod Hadar, Givat Shmuel HaMeha Complex, Ra’anana A
Slide 24: Ashtrom Residences for Rent
| ASHTROM RESIDENCES FOR RENT Building Vibrant Communities 2,281 Units ~ 1.3 Billion US$ ~ 0.7 Billion US$ ~ 0.4 Billion US$ At various stages Value of assets Net Financial Debt * Appreciation of projects in operation Operation of 1,126 residential units Construction of 1,155 residential units and c
Slide 25: 2,281 Residential Units for Long-term Leasing
| ASHTROM RESIDENCES 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 International Quarter 310 u
Slide 26: Residences for Rent In Operation
| ASHTROM RESIDENCES FOR RENT In Operation 1,126 Units 924 Million US$ 13 Million US$ 383 Million US$ 48% 2.76% Index linked Rental Units Property Value NOI 1-6.2025 Appreciation of LTV * Average Interest * 100% occupancy Property Until 2039-2043 25% at a controlled price Neot Peres, Haifa HaGadna,
Slide 27: Residences for Rent Under Construction
| ASHTROM RESIDENCES FOR RENT Under Construction 1,155 Units 347 Million US$ 445 Million US$ Property Value Balance to be Invested Purchased International Quarter Lod Northern Bnei Brak Tel HaShomer South Be’er Ya’akov Ramat Pinkas 310 units 248 units 139 units 282 units 176 units 1,366 m2 commercia
Slide 28: Ashtrom Industries
| ASHTROM INDUSTRIES * Comprehensive Value Chain Solutions Under One Roof ~ 0.3 Billion US$ 8 Companies 11 Concrete Plants Orders backlog as of June 30, 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 and Creating of synergy within Increased revenues and geographical distribution in the sector and the Group profitability the field of aggregates, concrete and asphalt Sorek Quarry Hanaton Quarry Expected cumulative EBITDA (25 years) Expected cumulative
Slide 30: Ashtrom Renewable Energy
| ASHTROM RENEWABLE ENERGY Renewable Energy Investments and Development in Israel and Worldwide 402 MWdc 198 MWdc 195 MWdc 1,264MWdc 2,059MWdc 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 MWdc Israel MWdc TOTAL MWdc 1,264 2,059 1,011 1,800 195 195 195 198 399 (1) 402 253 259 3 3 Operational Construction Development Initiation Total Operational Construction Initiation Total Operational Construction Development Initiation Total (1
Slide 32: Operational Project: Tierra Bonita, Texas
| ASHTROM RENEWABLE ENERGY Operational Project Tierra Bonita Project I Texas, USA Output Total Investment In H1 2025 36% of the project company was allocated to 399 MWdc $435 million institutional entities, according to a value of $220 million Total Expected Income (40 years) Expected EBITDA (40 yea
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 ~$1.2 billion (40 years) PPA 20-year PPA was signed with CPS, the San Antonio electric company - rated Aa2
Slide 34: Ashtrom International
| ASHTROM INTERNATIONAL Contracting, Entrepreneurship and Income-generating Real Estate Overseas ~ 122 Million US$ ~ 124 Million US$ 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$ 1-6.2025 1-6.2024 Q2 2025 Q2 2024 2024 Income 671 647 329 316 1,322 Gross profit 147 137 73 71 295 Gross profit margin 21.9% 21.1% 22.2% 22.3% 22.3% Appreciation of investment property, net 42 15 38 17 50 Operating profit 127 85 81 54 227 Financing costs
Slide 36: Balance Sheet & Cash Flow Summary
| BALANCE SHEET & CASH FLOW SUMMARY Million US$ 30.06.2025 30.06.2024 31.12.2024 Total cash and short-term investments 380 * 537 390 Liabilities 4,879 4,788 4,952 Equity 1,767 1,498 1,523 Total Balance Sheet 6,646 6,286 6,475 Cash flow from operating activities before investment on lands for constru
Slide 37: Financial Strength – Solo
| FINANCIAL STRENGTH – Solo 16 177 1,634 1,007 Million US$ Million US$ Million US$ Million US$ Cash Balance & Financial Credit Facilities Equity Net Financial Debt Short-term Investments for Utilization 57.2% Equity Ratio 38.1% Net Debt to CAP Bonds Repayment – not including interest Million US$ * 2
Slide 38: Financial Debt
| FINANCIAL DEBT * Gross Financial Debt Net Financial Debt ** US$ 2,751 million 30.06.2025: US$ 2,485 million | 31.12.2024: US$ 2,547 million Million US$ 1,114 Residences for Rent 1,082 Renewable Energy 451 549 Residences 444 Bonds 382 Institutional Entities 818 International 184 172 865 195 Industr
Slide 39: Dedicated to Promoting ESG
| DEDICATED TO PROMOTING ESG E Sustainable Environment S Safe & Healthy Environment G Ethical Business Environment Production, planning, and management of Ensuring the safe and healthy construction of Upholding an ethical infrastructure and sustainable properties and products properties and co
Slide 40: Slide 40