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Elbit Imaging Q2 apparel retail sales up 5%

August 31, 2013 (Israel)

Elbit Imaging Ltd. announced its results for the second quarter of 2013.

Consolidated Income revenues and gains for the three months period ended June 30, 2013 amounted to NIS 124 million ($ 34 million) compared to NIS 132 million in the corresponding period in 2012.

Revenues from the sale of fashion retail amounted to NIS 37 million ($ 10 million) in Q2 2013 compared to NIS 32 million in Q2 2012. The increase is mainly attributable to increase in revenue from same store.

Cost of fashion retail amounted to NIS 35 million ($ 10 million) in Q2 2013 compared to NIS 32 million in Q2 2012. The increase resulted from the increase in the revenue as aforementioned.

Revenues from hotels operations and management amounted to NIS 55 million ($ 15 million) in Q2 2013 and in Q2 2012.

Costs and expenses of hotels operations and management amounted to NIS 47 million ($ 13 million) in Q2 2013 compared to NIS 49 million in Q2 2012.

Rental income from commercial centers amounted to NIS 32 million ($ 9 million) in Q2 2013 compared to NIS 37 million in Q2 2012. The decrease is mainly attributable to the decreases in Fantasy Park operation.

Cost of commercial centers amounted to NIS 27 million ($ 8 million) in Q2 2013 compared to NIS 36 million in Q2 2012. The decrease is resulted from decreases in Fantasy Park operation as aforementioned and to increasing efficiency during 2013 in PC general and administrative expenses.

General and administrative expenses amounted to NIS 15 million ($ 4 million) in Q2 2013 compared to NIS 10 million in Q2 2012. The increase in mainly attributable to expenses relating to the Arrangement of the Company's unsecured financial debt.

Share in losses of associated, net amounted to NIS 33 million ($ 9 million) compared to Income of NIS 7 million ($ 2 million) in the corresponded period. Such losses in Q2 2013 are mainly attributable to the sale of project in India in the total loss of NIS 25 million ($ 7 million) and NIS 6 million ($ 2 million) relating to the operations of Insightec.


Elbit Imaging Ltd.
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