We’re proud to share our 2024 annual results, reflecting our strength and resilience:
- Revenues held steady at US$45.6m (2023: US$45.6m)
- Profit from operations at US$4.51m (2023: US$4.65m) — a slight 3% decrease
- Profit before tax remained consistent at US$4.81m (2023: US$4.84m)
- Net profit increased 3% to US$4.2m (2023: US$4.1m)
- Earnings per share grew by 9% to 4.99 US cents (2023: 4.58 US cents)
- Net cash of US$6.0m at 31 December 2024 (2023: US$8.1m) — after repurchasing 2.3m shares under our buyback program
- Final dividend increased by 6% to 3.3 US cents per share (2023: 3.1 US cents)
Our CEO, Moni Borovitz, shared his thoughts:
“We are proud of these results, which show good progress during a period of extremely difficult conditions in Israel. The business again proved its resilience, operating largely as normal, and our target end-markets remain buoyant. In particular, the increase in defense budgets worldwide and the opening of the Indian antenna market for E-Band 5G backhaul present substantial opportunities for us over the medium term.
Fundamentally, our core business remains strong, with three well-established and well-led divisions focused on three substantial growth markets — all leveraging the Group’s core expertise in radio frequency communications technology.
Looking ahead, the business is in a solid financial position with net cash of US$6m at the year end, even after investing approximately US$1.3m in our own shares under the buyback program. Furthermore, we believe we are well placed for 2025, especially given the size of our record order backlog, which stands at over US$25m.”
Here’s to continued strength, innovation, and growth in 2025!
