Granite Hacarmel Investments Ltd.

Key Executives:

Menachem Einan
Chairman

Joseph Singer
CEO

Investor Relations:

Dganit Palti Phone: +972-9-863-7700

Web Site:

www.granitehacarmel.co.il

Email:

dganitp@granitehacarmel.co.il

Exchange:

TASE

Symbol: GRNT

Year Listed: 1992

Main Indexes:

TA100

Industry:

Diversified Holdings, Oil & Gas, Real Estate

Year Established:

1981

# of Employees:

3,200

Auditor:

Somekh Chaikin (member of KPMG International)

Law Firm:

Gross, Kleinhendler, Hodak, Halevy, Greenberg & Co

IR Firm:

Gelbart Kahana

Main Subsidiaries:

Office Address:

6 Hagavish St., PO Box 8401, Netanya 42507 Israel

Telephone:

+972-9-863-7700

Fax:

+972-9-885-2524

Granite Hacarmel Investments Ltd. is one of Israel's largest holding companies. Through companies under its control, Granite Hacarmel is active in diverse markets, including distribution and marketing of oil and lubricant products; retail gas stations; paint, dyes and construction materials; liquid propane gas (LPG) distribution; water desalination and purification; cellular communications infrastructure and tourism.
Main areas of activity
Energy, oil and products - Sonol Israel Ltd. (100%-owned), a major operator of gas stations in Israel, is also involved in the storage, marketing and distribution of fuel. The Sonol chain has 235 retail gas stations and 164 convenience stores operating under the "Sogood" brand name.
Supergas (100%) is one of Israel's principal LPG suppliers for industrial and residential use with approximately 400,000 customers. Supergas has an exclusive license for the distribution of natural gas to the center of the country and recently began operating in the solar energy infrastructure field. In March 2010, the company sold its 14% interest in Haifa Basic Oils Ltd. for NIS 35.6 million.
Paint, dyes and construction materials - Tambour Ltd. (84%, TASE) is a leading manufacturer and marketer of paint, emulsions, polyurethanes, epoxies, varnishes, textured coatings, primers, printing inks, sealants, building accessories and gypsum. A new gypsum boards and bricks factory began operations in 2010.

Water and Sewage - GES Global Environmental Solutions Ltd. (100%) is a leader in planning, construction, production, operation and maintenance of water and wastewater treatment plants. GES has a 72% interest in the Palmachim desalination plant that produces 45 million cubic meters annually. GES also produces markets and distributes chemicals.
Real Estate - Granite has holdings in Pi Glilot Petroleum Terminals and Pipelines Ltd. (13.2%), owner of a large plot of land near Tel Aviv.

Miscellaneous - Granite is involved in tourism and leisure through Mini-Israel Park Ltd. (50%), a theme park of miniature scale models of Israeli landmarks; and leasing of cellular communications infrastructure through Green Anchors Ltd. (60%).

Management

CEO: Joseph Singer

Deputy CEO: David Paz

VP Finance: Dganit Palti

Directors

Chairman: Menachem Einan

Dana Azrieli

Yuval Bronstein

Peretz Guza

Yishayahu Landau

More Info

Yuval Landau

Pe'er Nadir

Shlomo Sherf

Alex Tal

More Info

Arnon Toran

Imri Tov

Reuven Vitale

Noga Yatziv

	Three Months Ended December 31
Income Statement Data ($m)	2011	2010
Total Revenues	437.6	352.4
Gross Profit	66.7	75.9
Gross Margins %	15%	22%
Operating Income	6.7	15.9
Interest, Net	-6.1	-9.0
Pretax Income	-0.5	5.0
Net Income	-5.0	3.7
Data translated at the NIS/$ exchange rate of 12/31/11

	Year Ended December 31
Income Statement Data ($m)	2011	2010	2009
Net Revenues	1,650.1	1,374.6	1,189.9
Gross Profit	288.1	283.8	274.6
Gross Margins %	17%	21%	23%
Operating Income	54.5	55.3	56.0
Interest, Net	-31.3	-28.6	-26.0
Pretax Income	19.0	21.6	26.9
Net Income	10.1	14.7	24.6
Diluted Earnings Per Share ($)	0.05	0.09	0.16
Data translated at the NIS/$ exchange rate of 12/31/11

Balance Sheet Data ($m)	12/31/11	12/31/10
Total Cash & ST Investments	42.8	28.8
Current Assets	656.0	512.6
Total Assets	1,353.1	1,200.3
Current Liabilities	695.8	533.6
Total Equity	215.9	218.1
Data translated at the NIS/$ exchange rate of 12/31/11

Key Financial Ratios	12/31/11	12/31/10
Current Ratio	0.9x	1.0x
L-T Debt/Equity	180.2%	108.4%

Business Summary	2011
	Revenues
Petroleum products:
Sonol Fuel and trade areas	48%
Sonol Direct marketing	28%
Supergas	8%
Paint	12%
GES	4%

Dividend Policy

Company pays annual dividends of 40%-50% of aftertax net income.

Main Shareholders (March 14, 2012)
Kanit Hashalom Investments Ltd.	61%
Yishayahu Landau	14%

Convenience stores

So Good
Sonol’s wholly-owned Sogood chain of convenience stores comprises about 150 stores throughout Israel, operating 24 hours a day. The chain offers a classic range of convenience store and basic grocery items, supplemented by higher-end goods and services like gourmet coffee, sandwiches and soft drinks, automated teller machines, and wireless Internet access.

More Info

Gas stations

Sonol
Sonol markets and distributes refined petroleum products, lubricants, and related products. Sonol is one of the largest oil marketing companies in Israel. The Sonol automated fuel billing and management system for fleet customers is just one example of the company's focus on innovation to enhance customer service.

More Info

Liquid propane gas distribution

Supergas
Supergas is one of Israel’s leading gas distribution companies. The company is the exclusive supplier of gas and services to the Israeli defense forces and has clients in the business, industrial and agricultural sectors, private customers, organizations and institutions. Supergas operates through branches in Israel's main cities – Tel Aviv, Haifa and Jerusalem and via agencies, throughout the country.

More Info

Paints

Tambour
Tambour Ltd. (84%, TASE) is a leading manufacturer and marketer of paint, emulsions, polyurethanes, epoxies, varnishes, textured coatings, primers, printing inks, sealants, gypsum (a new gypsum board factory was recently constructed) and building accessories.

More Info

Water and waste treatment

GES
GES is a front runner in the cleantech field. GES has been providing clean water to satisfied customers in Israel and abroad for many years. Its solutions are economically viable and conform to the most stringent of standards. The company adheres to the highest codes, scrupulously meeting international, and environmental quality and regulatory standards. GES is qualified under ISO 9002 and ISO 14001.

More Info

Announcements

15/5/2012
Granite Hacarmel Reports First Quarter 2012 Financial Results

24/4/2012
Granite Publishes a Purchase Offer for Shares of Tambour at NIS 5.25 Per Share

13/3/2012
Granite Hacarmel Reports Fourth Quarter and Full Year 2011 Results

30/1/2012
Granite Hacarmel Signs Financing Agreement for Expansion of Desalination Facility

24/11/2011
Granite Hacarmel Subsidiary (G.E.S.) Completes Purchase of Tahal's Holdings in Derech Ha'Yam - Now holds 100%

16/11/2011
Granite Hacarmel Investments Reports Third Quarter 2011 Financial Results

1/11/2011
Granite Hacarmel: Agreement with the State of Israel to Expand Output of Palmachim Desalination Plant

4/10/2011
Granite Hacarmel Agrees to Purchase Holdings of Tahal in Palmachim Desalination Plant for NIS 62.3 Million

6/9/2011
Granite Hacarmel: Derech HaYam Submits Proposal to Increase Capacity of the Palmachim Desalination Plan at a Total Investment of $100 Million

16/8/2011
Granite Hacarmel Reports Second Quarter and First Six Months 2011 Financial Results

All Announcements

News

Globes - 24/4/2012 - Granite offers to buy public shares in paint co Tambour
Granite Hacarmel is offering NIS 5.25 per share for Tambour, a 9.3% premium on yesterday's closing price of NIS 4.80. More Info

Globes - 26/1/2012 - Treasury mulls Ashelim auction between 3 finalists
The finalists in the solar power plant tender are Clal Energy, Granite Hacarmel, and France's EDF-Energies Nouvelles. More Info

Globes - 5/10/2011 - Azrieli considers selling Granite Hacarmel
David Azrieli has reportedly received enquiries about the TASE traded subsidiary that includes Sonol, Supergas, Tambour and GES. More Info

Globes - 26/6/2011 - Azrieli unit to buy NIS 1b of electricity from Israel Corp
The 10-year power purchasing agreement is for Granite Hacarmel's subsidiaries. More Info

Market Data: Company Profile

Market Snapshot

Google Finance
Company Summary

Granite Hacarmel Investments Ltd. ist eine der größten Beteiligungsgesellschaften Israels. Über Unternehmen unter seiner Aufsicht ist Granite Hacarmel in diversen Märkten aktiv. Dazu gehören: der Vertrieb und die Vermarktung von Öl- und Schmierölprodukten; Einzelhandelstankstellen; Maler-, Farb- und Baumaterialien; Flüssiggasvertrieb (LPG); Wasserentsalzung und –aufbereitung; Mobilfunk-Kommunikationsinfrastruktur und Tourismus.
Hauptaktivitätsbereiche
Energie, Öl und Erzeugnisse - Sonol Israel Ltd. (100%), ein Hauptbetreiber von Tankstellen in Israel, der sich auch um die Lagerung, die Vermarktung und den Vertrieb von Kraftstoff kümmert. Die Sonol-Kette verfügt über 235 Einzelhandelstankstellen und 164 Bedarfsartikelgeschäfte unter dem Markennamen „Sogood".
Supergas (100%) ist mit etwa 400.000 Kunden einer der Hauptlieferanten von Flüssiggas (LPG) für die Industrie- und den Privatbereich. Supergas besitzt eine Alleinlizenz für den Vertrieb von Erdgas im Zentrum des Landes und begann erst kürzlich, im Bereich der Solarenergie aktiv zu werden. Im März 2010 verkaufte das Unternehmen seine Anteile in Höhe von 14% an der Haifa Basic Oils Ltd. für NIS 35,6 Millionen.
Maler-, Farb- und Baumaterialien - Tambour Ltd. (84%, TASE) ist ein führender Hersteller und Vertreiber von Farben, Emulsionen, Polyurethanen, Epoxidharzen, Lacken, modellierten Anstrichen, Grundierungen, Druckertinten, Dichtungsmitteln, Bauzubehör und Gips. Eine neue Fabrik für Gipsplatten und –steine begann im Jahr 2010 ihren Betrieb.
Wasser und Abwasser - GES Global Environmental Solutions Ltd. (100%) ist führend bei der Planung, dem Bau, der Produktion, dem Betrieb und der Wartung von Wasser- und Abwasserreinigungsanlagen. GES verfügt über Anteile in Höhe von 72% an der Entsalzungsanlage Palmachim, die 45 Millionen Kubikmeter jährlich produziert. GES produziert, vermarktet und vertreibt zudem Chemikalien.
Immobilien - Granite verfügt über Anteile an Pi Glilot Petroleum Terminals and Pipelines Ltd. (13,2%), Besitzer eines großen Grundstückes in der Nähe von Tel Aviv.
Sonstiges - Granite ist durch die Mini–Israel Park Ltd. (50%) an Tourismus- und Freizeitprojekten beteiligt. Dabei handelt es sich um einen Themenpark mit Miniaturmodellen von israelischen Sehenswürdigkeiten. Außerdem verpachtet das Unternehmen Mobilfunk-Kommunikationsinfrastruktur über Green Anchors Ltd. (60%).

Granite Hacarmel Investments Ltd. est l'une des sociétés de portefeuille les plus importantes d'Israël. Grâce à des sociétés sous son contrôle, Granite Hacarmel est active dans divers marchés, notamment la distribution et la commercialisation de produits pétroliers et lubrifiants; les stations d'essence au détail; les peintures, les teintures et les matériaux de construction, le gaz propane liquide (GPL) de distribution; le dessalement et la purification de l'eau, l’infrastructure des communications cellulaires et le tourisme.
Principaux domaines d'activité
L'énergie, le pétrole et les produits - Sonol Israel Ltd (détenue à 100%), est un opérateur majeur de stations-service en Israël, et est également impliqué dans le stockage, la commercialisation et la distribution de carburant. La chaîne Sonol possède 235 stations-service vendant l’essence au détail et 164 épiceries de proximité opérant sous le nom de la marque "Sogood".
   Supergas (100%) est l'un des fournisseurs principaux de GPL d'Israël, à usage industriel et domestique, avec environ 400 000 clients. Supergas détient une licence exclusive pour la distribution de gaz naturel vers le centre du pays et a récemment commencé à agir dans le domaine des infrastructures d'énergie solaire. En mars 2010, la société a vendu sa participation de 14 % dans la société Haifa Basic Oils Ltd. pour une valeur de 35,6 millions de nouveaux shekels israéliens (NIS).
Peintures, teintures et matériaux de construction - Tambour Ltd (84 %, TASE) est un important fabricant et distributeur de peintures, d’émulsions, de polyuréthanes, d’époxydes, de vernis, de revêtements texturés, d’amorces, d’encres d'imprimerie, de produits d'étanchéité, d'accessoires de la construction et de gypse. Une nouvelle usine de planches de gypse et de briques a ouvert en 2010.
   Eau et eaux usées - GES Global Environmental Solutions Ltd. (100 %) est un leader en matière de planification, construction, production, exploitation et entretien de l'eau et des usines de traitement des eaux usées. GES possède une part de 72 % dans l'usine de dessalement Palmachim qui produit 45 millions de mètres cubes par an. GES produit, commercialise et distribue également des produits chimiques.
Immobilier - Granite détient des participations dans les terminaux et pipelines Pi Glilot Petroleum and Pipelines Ltd (13,2 %), et possède une grande parcelle de terrain près de Tel Aviv.
   Divers - Granite est impliqué dans le tourisme et les loisirs grâce à Mini-Israël Park Ltd (50 %), un parc à thème de maquettes miniatures des grands monuments israéliens, et la location d’infrastructures de communications cellulaires grâce à Green Anchors Ltd. (60 %).

Granite Hacarmel Investments Ltd. es uno de los mayores holdings empresariales de Israel. A través de empresas bajo su control, Granite Hacarmel se dedica a diversos mercados, incluyendo la distribución y comercialización de productos del petróleo y lubricantes; estaciones de combustible minoristas; pintura, tintes y materiales de construcción; distribución de gas propano líquido (LPG); desalinización y purificación de agua; infraestructura de comunicaciones móviles y turismo.
Principales áreas de actividad
Energía, petróleo y sus productos – Sonol Israel Ltd. (propiedad del 100%), un gran operador de estaciones de combustible de Israel, también está relacionado con el almacenamiento, comercialización y distribución de combustible. La cadena Sonol tiene 235 estaciones de combustible minoristas y 164 tiendas en funcionamiento bajo la marca "Sogood".
Supergas (100%) es uno de los principales proveedores de LPG de Israel para uso industrial y residencial, con aproximadamente 400.000 clientes. Supergas tiene licencia exclusiva para la distribución de gas natural al centro del país y recientemente comenzó a operar en el campo de las infraestructuras de energía solar. En marzo de 2010, la compañía vendió su participación del 14% en Haifa Basic Oils Ltd. por 35,6 millones de nuevos shékel (NIS).
Pintura, tintes y materiales de construcción – Tambour Ltd. (84%, TASE) es un fabricante y vendedor líder de pintura, pinturas al agua, poliuretanos, plásticos epoxy, barnices, recubrimientos con relieve, bases, tintas de impresión, selladores, accesorios de construcción y yeso. Una nueva fábrica de ladrillos y tablas de yeso comenzó a operar en 2010.
Agua y aguas residuales – GES Global Environmental Solutions Ltd. (100%) es líder en planificación, construcción, producción, operación y mantenimiento de agua y plantas de tratamiento de aguas residuales. GES tiene una participación del 72% en la planta de desalinización de Palmachim que produce 45 millones de metros cúbicos anualmente. GES también comercializa y distribuye agentes químicos.
Bienes inmuebles – Granite tiene participaciones en Pi Glilot Petroleum Terminals and Pipelines Ltd. (13,2%), propietario de una gran superficie de terreno cerca de Tel Aviv.
Miscelánea – Granite se dedica al turismo y al ocio a través de Mini-Israel Park Ltd. (50%), un parque temático de modelos a escala de lugares muy conocidos de Israel; y alquilando infraestructura de comunicación móvil mediante Green Anchors Ltd. (60%).