Shikun & Binui Presents Full Year 2013 Financial Results

Shikun & Binui Presents Full Year 2013Shikun & Binui Presents Full Year 2013 Financial Results PR Newswire AIRPORT CITY, Israel, March 25, 2014 Shikun & Binui Ltd. (TASE: SKBN.TA), a global construction and infrastructure Company operating within and outside Israel, reported its financial results for the full year of 2013. Ofer Kotler, Chief Executive Officer commented, "Today, we have completed another positive year in terms of our operational and financial performance. The sale of our holdings in the Derech Eretz Project represents our entrepreneurial spirit. We are working to leverage our know- how and experience amassed over decades, in order to expand into new territories. We successfully took several important financial actions during the year, which combined with our financial strength, will enable us to continue to execute on our expansion strategy." Tal Raz, Chief Financial Officer, commented on the financial results, "This year we completed several important financial steps, including the successful issuance of debentures Series 6 and 7, as well as the exchange of some of the short duration debenture into longer duration debentures. The upgrading of the credit ratings by Ma'alot and Midroog, the Israeli arms of international rating agencies Moody's and S&P, is a further testimony to the Group's financial strength. The cash and cash equivalents balance of NIS 2.