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Elbit Imaging Ltd. Announces Second Quarter Results for 2012
Date:8/30/2012

a, as aforementioned.
  • Revenues from investment property rental income (US) increased in Q2 2012 to NIS 63 million (US$ 16 million) compared to NIS 60 million in Q2 2011. The increase is mainly attributable to growth in occupancy in the investment property during the period.
  • Cost of investment property in Q2 2012 amounted to NIS 24 million (US$ 6 million) similar to NIS 25 million in Q2 2011.
  • Cost of fair value adjustment and sell of investment property in Q2 2012 amounted to NIS 104 million (US$ 26.5 million) compared to revenues in the amount of NIS 25 million in Q2 2011. The current net costs include the costs derived from the transaction sale of 47 out of 49 US properties, their fair value adjustment and realization of foreign currency translation adjustments reserve.
  • Revenues from hotels operation and management decreased in Q2 2012 to NIS 55 million (US$ 14 million) compared to NIS 79 million in Q2 2011. The decrease is mainly attributable to the sale of the Company's hotels in the Netherlands in March 2012 as aforementioned, offset by the increase in the Company's revenues from the Romanian and Belgian hotels.
  • Costs and expenses of hotels operation and management decreased in Q2 2012 to NIS 49 million (US$ 12.5 million) compared to NIS 64 million in Q2 2011. The decrease is attributable mainly to the sale of the Company's hotels in the Netherlands in March 2012, as aforementioned.
  • Revenues from the sale of medical systems increased in Q2 2012 to NIS 14 million (US$ 3.6 million) compared to NIS 5 million in Q2 2011. The increase is mainly attributable to the number of systems sold during the period.
  • Costs and expenses of medical systems decreased in Q2 2012 to NIS 16 million (US$ 4 million) compared to NIS 19 million in Q2 2011. The decrease in costs is mainly attributable to the cost saving measures applied by InSightec in the second half of 2011 and to the decrease in legal related expenses.

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