Formula Systems

Formula Systems Reports Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Tuesday, March 19, 2024
Hamas, Tax, Tel Aviv Stock Exchange, Iron, TSG, Matrix, Formula, American depositary receipt, Investment, Formula Systems

Financial Highlights for the Fourth Quarter Ended December 31, 2023

Key Points: 
  • Financial Highlights for the Fourth Quarter Ended December 31, 2023
    Consolidated revenues for the fourth quarter ended December 31, 2023 amounted to $640.3 million, compared to $657.1 million in the same period last year.
  • Consolidated operating income for the fourth quarter ended December 31, 2023 amounted to $60.3 million compared to $60.2 million in the same period last year.
  • The absence of such employees resulted in lower profitability in the fourth quarter in certain areas of our operations.
  • Actual ratio of net financial indebtedness to net capitalization, as of December 31, 2023, was 1%.

Formula Systems Reports Third Quarter and Nine Months 2023 Financial Results:

Retrieved on: 
Wednesday, November 22, 2023
Formula Systems, Tax, Matrix, Formula, Investment, TSG, Cryptocurrency

OR YEHUDA, Israel, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Formula Systems (1985) Ltd. (Nasdaq and TASE: FORTY) (“Formula” or the “Company”), a global information technology group engaged, through its subsidiaries and affiliates, in providing software consulting services and computer-based business solutions and developing proprietary software products, today announced its results for the third quarter and nine-month period ended September 30, 2023.

Key Points: 
  • Financial Highlights for the Third Quarter Ended September 30, 2023
    Consolidated revenues for the third quarter ended September 30, 2023, increased by approximately 4.3% to a third-quarter record-breaking $654.8 million, compared to $627.7 million in the same period last year.
  • Consolidated operating income for the third quarter ended September 30, 2023 amounted to a third-quarter record-breaking $58.2 million compared to $57.5 million in the same period last year.
  • Consolidated operating income for the first nine months ended September 30, 2023, amounted to $179.0 million, compared to $216.5 million in the first nine months of the previous year.
  • Actual ratio of net financial indebtedness to EBITDA as of September 30, 2023, was 0.3.

Formula Systems Reports Second Quarter and First Half 2023 Financial Results

Retrieved on: 
Thursday, August 17, 2023
TSG, Formula Systems, Formula, Investment, TASE, Matrix, Cryptocurrency, Tutoring, Life insurance, Security (finance), EBITDA

Financial Highlights for the Second Quarter Ended June 30, 2023

Key Points: 
  • Financial Highlights for the Second Quarter Ended June 30, 2023
    Consolidated revenues for the second quarter ended June 30, 2023 increased by approximately 2.9% to a second-quarter record-breaking $655.4 million, compared to $636.9 million in the same period last year.
  • Consolidated operating income for the second quarter ended June 30, 2023 amounted to $60.0 million compared to $99.5 million in the same period last year.
  • Excluding such impact, consolidated operating income for the second quarter ended June 30, 2023, increased by 8.4% compared to the second quarter of the previous year.
  • Excluding such impact, consolidated net income attributable to Formula’s shareholders for the second quarter ended June 30, 2023 increased by 7.3% year over year compared to the second quarter of the previous year.

Formula Systems Reports First Quarter 2023 Financial Results: Revenues for the First Quarter Increased by 3% Year Over Year to a Record-Breaking $670.4 Million

Retrieved on: 
Tuesday, May 23, 2023
TSG, Tel Aviv Stock Exchange, American depositary receipt, Formula Systems, Formula, Investment, TASE, NIS, Consolidated, Cryptocurrency, Holding company, Security (finance), EBITDA

Financial Highlights for the First Quarter Ended March 31, 2023

Key Points: 
  • Financial Highlights for the First Quarter Ended March 31, 2023
    Consolidated revenues for the first quarter ended March 31, 2023 increased by approximately 3.0% to $670.4 million, compared to $650.7 million in the same period last year.
  • Consolidated operating income for the first quarter ended March 31, 2023 increased by approximately 2.3% to $60.8 million, compared to $59.4 million in the same period last year.
  • Financial expenses net, increased by approximately 51.3% to $7.1 million, compared to $4.7 million in the same period last year.
  • Target ratio of net financial indebtedness to EBITDA (based on the accumulated calculation for the four most recent quarters): below 5.

Formula Systems Reports Fourth Quarter and Full Year 2022 Financial Results with Record-Breaking Full Year 2022 Results Recorded Across All Key Financial Indices (Revenues, Gross Profit, Operating Income and Net Income)

Retrieved on: 
Thursday, March 16, 2023
Formula Systems, TASE, Investment, Formula, TSG, Consolidated, Cryptocurrency, Airline, Holding company, Security (finance), Life insurance, EBITDA

Financial Highlights for the Fourth Quarter Ended December 31, 2022

Key Points: 
  • Financial Highlights for the Fourth Quarter Ended December 31, 2022
    Consolidated revenues for the fourth quarter ended December 31, 2022 decreased by 3.6% to $633.9 million, compared to $657.6 million in the same period last year.
  • Consolidated operating income for the fourth quarter ended December 31, 2022 increased by 1.0% to $60.2 million, compared to $59.6 million in the same period last year.
  • Actual ratio of net financial indebtedness to net capitalization, as of December 31, 2022 was 6.3%.
  • Target ratio of net financial indebtedness to EBITDA (based on the accumulated calculation for the four most recent quarters): below 5.

Formula Systems Reports Second Quarter and First Half 2022 Financial Results: Net Income for the Second Quarter Reached $32.9 Million

Retrieved on: 
Wednesday, August 17, 2022
Matrix, GLOBE, Formula, Investment, Formula Systems, Compliance, Income, TSG, Consolidated, 6, TASE, Nasdaq, Tutoring, Video game, Renewable energy, Security (finance), Life insurance, EBITDA

Financial Highlights for the Second Quarter Ended June 30, 2022

Key Points: 
  • Financial Highlights for the Second Quarter Ended June 30, 2022
    Consolidated revenues for the second quarter ended June 30, 2022 increased by 9.6% to $644.6million, compared to $587.9 million in the second quarter of the previous year.
  • Consolidated operating income for the second quarter ended June 30, 2022 increased by 97.0% to $99.5 million, compared to $50.5 million in the second quarter of the previous year.
  • Excluding such impact, consolidated operating income for the second quarter ended June 30, 2022, increased by 9.5% compared to the second quarter of the previous year.
  • Net income for the second quarter of 2022 was positively impacted by approximately $17.1 million of income realized from the disposition of a subsidiary of Matrix IT Ltd.

Formula Systems Reports First Quarter 2022 Financial Results: Record-Breaking Net Income of $16.2 Million

Retrieved on: 
Wednesday, May 18, 2022
Formula Systems, Nasdaq, Investment, Consolidated, Formula, TSG, Compliance, GLOBE, Video game, Security (finance), EBITDA

Financial Highlights for the First Quarter Ended March 31, 2022

Key Points: 
  • Financial Highlights for the First Quarter Ended March 31, 2022
    Consolidated revenues for the first quarter ended March 31, 2022 increased by 14.8% to $657.6 million, compared to $572.6 million in the first quarter of the previous year.
  • Consolidated operating income for the first quarter ended March 31, 2022, increased by 25.2% to $59.4 million, compared to $47.5 million in the first quarter of the previous year.
  • Actual ratio of net financial indebtedness to net capitalization, as of March 31, 2022, was equal to 6.0%.
  • Actual ratio of net financial indebtedness to EBITDA (based on the accumulated calculation for the four recent quarters), as of March 31, 2022, was equal to 0.21.

Formula Systems Files Annual Report On Form 20-F For The Year Ended December 31, 2021

Retrieved on: 
Monday, May 16, 2022
U.S. Securities and Exchange Commission, Mission statement, Formula, NASDAQ, Formula Systems, Company, SEC, Investor relations, Form 20-F, Annual report, GLOBE, Audit

Or Yehuda, Israel, May 16, 2022 (GLOBE NEWSWIRE) -- Formula Systems (1985) Ltd. ( NASDAQ: FORTY ), a global information technology company engaged, through its subsidiaries and affiliates, in providing software consulting services and computer-based business solutions and developing proprietary software products, announced today that it has filed its annual report on Form 20-F for the year ended December 31, 2021 with the U.S. Securities and Exchange Commission, or the SEC.

Key Points: 
  • Or Yehuda, Israel, May 16, 2022 (GLOBE NEWSWIRE) -- Formula Systems (1985) Ltd. ( NASDAQ: FORTY ), a global information technology company engaged, through its subsidiaries and affiliates, in providing software consulting services and computer-based business solutions and developing proprietary software products, announced today that it has filed its annual report on Form 20-F for the year ended December 31, 2021 with the U.S. Securities and Exchange Commission, or the SEC.
  • The annual report on Form 20-F, which contains Formula Systems audited consolidated financial statements, can be accessed on the SEC website at http://www.sec.gov/ as well as via the Companys website in the Investor Relations section under Financial Reports at https://www.formulasystems.com/financial-reports .
  • The Company will deliver a hard copy of its annual report on Form 20-F, including its complete audited financial statements, free of charge, to its shareholders upon request sent to its Investor Relations department at [email protected] .
  • Formula Systems (1985) Ltd. is a global information technology company principally engaged, through its subsidiaries and affiliates, in providing software consulting services, developing proprietary software products, and providing computer-based business solutions.

Formula Systems Reports Fourth Quarter and Full Year 2021 Financial Results with Annual Net Income of $54.6 Million

Retrieved on: 
Wednesday, March 16, 2022
Formula, American depositary receipt, Tel Aviv Stock Exchange, GLOBE, Investment, Compliance, TSG, Formula Systems, Nasdaq, NASDAQ, Company, Growth, NIS, Animal, Video game, Airline, Holding company, Security (finance), EBITDA

Financial Highlights for the Fourth Quarter Ended December 31, 2021

Key Points: 
  • Financial Highlights for the Fourth Quarter Ended December 31, 2021
    Consolidated revenues for the fourth quarter ended December 31, 2021 increased by 21.3% to a record breaking $658.7 million, compared to $543.2 million in the same period last year.
  • Consolidated operating income for the fourth quarter ended December 31, 2021 increased by 30.2% to a record breaking $59.6 million, compared to $45.8 million in the same period last year.
  • Consolidated operating income for the full year increased by 21.9% to $208.0 million, compared to $170.6 million last year.
  • Target ratio of net financial indebtedness to EBITDA (based on the accumulated calculation for the four recent quarters): below 5.

Formula Systems Reports Third Quarter 2021 Financial Results

Retrieved on: 
Thursday, November 18, 2021
Compliance, TSG, Formula, Consolidated, Investment, GLOBE, Formula Systems, NASDAQ, Growth, Animal, Fine chemical, Airline, Security (finance)

Financial Highlights for the Third Quarter Ended September 30, 2021

Key Points: 
  • Financial Highlights for the Third Quarter Ended September 30, 2021
    Consolidated revenues for the third quarter ended September 30, 2021 increased by 20.3% to $586.3million, with growth recorded across Formulas entire investment portfolio, compared to $487.3 million in the same period last year.
  • Consolidated operating income for the third quarter ended September 30, 2021 increased by 11.2% to $50.5 million, with growth recorded across Formulas entire investment portfolio, compared to $45.4 million in the same period last year.
  • As of September 30, 2021, Formula was in compliance with all of its financial covenants under the debenture series issued by Formula, based on the following achievements:
    Target equity attributable to Formulas shareholders (excluding non-controlling interests): above $215 million.
  • Actual ratio of net financial indebtedness to EBITDA (based on the accumulated calculation for the four recent quarters) is equal to 0.43.