Y.H. Dimri Construction & Development (DIMRI) Q4 2024 earnings summary

Executive summary

• 2024 net income was ~₪530m; residential development and a pipeline of 39,711 units underpin growth plans.

• A1 credit rating with stable outlook; equity was ~₪3.0bn at year-end.

Financial highlights

• 2024 revenue reached ₪1,991m vs. ₪1,420m in 2023; gross profit was ₪790m vs. ₪499m.

• Residential sales in Israel totaled 1,101 units and ₪2,609m in value in 2024, compared with 642 units and ₪1,351m in 2023; figures include partners’ share.

• Year-end total assets and liabilities/equity were ₪8,447m; equity was ₪2,978m.

Outlook and guidance

• Expected permits during 2025–2027 cover ~9,500 units; expected approvals of zoning plans cover ~19,000 units.

• Forecast sales from projects in execution and planning span 2025–2027, with charts showing both unit volumes and monetary value; figures include partners’ share.

• The urban-renewal portfolio includes 2,170 units with approved zoning plans, with forecast gross profit of ₪1,620m and average gross margin of 32% for those approved-plan units.