Shikun & Binui Reports Third Quarter 2013 Results

Shikun & Binui Reports Third QuarterShikun & Binui Reports Third Quarter 2013 Results PR Newswire AIRPORT CITY, Israel, Nov. 28, 2013 - Group's Backlog in Infrastructure and Construction segments totaled – NIS 10.4 billion - Cash flows from Operating Activities totaled NIS 343 million compared with NIS 129 million in Q3 of 2012 - Company Board of Directors declared a dividend of NIS 80 million Ofer Kotler, CEO of Shikun & Binui commented on the results: "During the quarter, we sold our stake in Highway 6 in a transaction that expressed the Group's diverse capabilities and demonstrated its business strategy. Similar successful sales will enable the group to expand its concession activities in Israel and worldwide." Shikun & Binui Ltd. (TASE: SKBN.TA) ("Shikun & Binui" or the "Company"), a member of the Arison Group and Israel's leading infrastructure and real estate company, announced today its results for the third quarter of 2013. Third quarter Highlights: • The Group's backlog of infrastructure and construction projects totaled NIS 10.4 billion, of which NIS 8.1 billion ($2.3 billion) originated in the Group's activities outside of Israel. The backlog as of the end of September 2013 is expected to be realized during the next four years. • The Group completed the sale of its stake in Trans-Israel Highway 6 for NIS 683 million – at a gain of NIS 63 million. The Group continues to hold a 35% stake in the Highway's operating companies.