Gold Bond Group: Record Revenues and Profit Growth in Q1 2025

Gold Bond Group has published its financial results for the first quarter of 2025. The main results for the first quarter of 2025: Revenues in the first quarter of 2025 increased by about 33.7% to a record of about 57.9 million shekels, compared to about 43.3 million shekels in the first quarter of 2024.

The increase in revenue resulted from an increase in activity at FCL and LCL ports compared to the parallel quarter significantly affected by the Iron Dome war, as well as an increase in the volume of free activity resulting from growth in the logistics sector. This, in conjunction with a decrease in revenues from e-commerce activity, which resulted from the fact that in the parallel quarter in 2024 a one-time compensation was recorded from a customer who ended his activity. It should be noted that in the FCL activity, a sharp growth of about 26% in revenues was recorded against the previous quarter, while in the LCL and logistics activity, stability was recorded in volumes against the previous quarter.

The gross profit in the first quarter of the year increased by about 23% and amounted to about 12.3 million shekels, compared to about 10 million shekels in the first quarter last year. Operating profit increased by about 24.1% to about 7.2 million shekels, compared to about 5.8 million shekels in the parallel quarter in 2024. The EBITDA in the first quarter of the year increased by about 22.1% to about 16 million shekels, compared to about 13.1 million shekels in the parallel first quarter. The company's share in the profits of an included company (Israel Dockyards Industries) amounted to about 2 million shekels in the first quarter of the year, similar to the profit recorded in the first quarter of 2024.

In the bottom line, the net profit in the first quarter of 2025 increased by about 10.4% to about 7.4 million shekels, compared to about 6.7 million shekels in the parallel quarter in 2024. The growth is due to the increase in operating profit, in conjunction with a transition to financing expenses, net in a minimal amount, compared to financing income, net that was recorded in the parallel quarter last year when the change in this item is mainly attributed to the company's pending case.

Gold Bond CEO, Amos Day: "We are opening 2025 with record revenues in the first quarter, as we continue to implement a clear strategy to deepen our core areas of activity, while operational innovation and expanding the services we offer. Among other things, we are showing strong results in the field of full containers (FCL), following many moves we have made to consolidate and grow the activity. We continue to see growing interest from new customers alongside actions we are taking to tighten relations with existing ones. We are working to promote many moves for the continued growth of the company and increase our competitive advantage."

Gold Bond Group operates cargo terminals, free warehouses and open storage, as well as provides ancillary services and cargo transport services, all in areas adjacent to the Port of Ashdod and the Port of Haifa. In addition, the company holds a cargo terminal in Beit Shean, near the Jordan River border crossing. As part of its activity in the E-Commerce field, the company operates a robotic warehouse in Ashdod and also, through Ai Gold, develops and markets dedicated software for managing robotic warehouses. In addition, the company holds 20% of the shares of the included company Israel Dockyards Industries.