Tadiran Group results Q2-2022: strong growth is confirmed

Treviso September 01, 2022. Tadiran Group, with the boost from energy activities, marks further growth: turnover in the first half of the year grows by +75%, compared to the H1-2021 period, to NIS 1.186,9 million (about 359,4 million euros), with an operating profit of NIS 134,4 million (+40%).

Activities in the energy sector reach 54% of the Group’s total (NIS 645,6 million) and push group sales to the 2 billion NIS target (about 606 million euros) in the current year, well ahead of the growth estimates.

The Group’s rapid growth due to the VP Solar contribution in the consolidated financial statement, which was acquired earlier this year and is a leading distributor of components and systems for photovoltaics, storage, and electric car charging systems in Italy and Europe.

Another major contribution comes from Aviem Systems, part of the Group, which entered into agreements in the first half of the year to supply storage systems totaling $215 million, to be implemented in the 2023 – 2024 timeframe.

Tadiran obviously continues to carry on the historical business of manufacturing, distributing and selling air conditioners and air conditioning systems for the domestic, commercial and industrial markets, as well as air treatment systems.

Tadiran Group CEO and controlling shareholder Moshe Mamrud said, “We are delighted to present another quarter of record revenue as a result of the continued successful realization of our growth strategy. The results of VP Solar, the Italian company that we acquired, are strong and encouraging and we see major potential for continued growth”.

Tadiran Group is a global player in the distribution and implementation of renewable systems, photovoltaics, storage, and charging systems for electric cars, and the production of air conditioning and air treatment equipment.