Israel Shipyards Industries reports strong second-quarter profit growth

Israel Shipyards Industries reported improved financial results for the second quarter and first half of 2026.

Net profit attributable to shareholders reached approximately NIS 15.6 million in the second quarter. This compared with around NIS 0.7 million during the same quarter of 2025, as reported by port2port.

Quarterly revenue increased by approximately 21.6% to NIS 428.5 million. Gross profit rose by 84.1% to approximately NIS 63.2 million, while adjusted EBITDA reached NIS 60.7 million.

Shipyard segment

Revenue from the shipyard segment increased by approximately 76.5% to NIS 83 million.

Segment profit reached approximately NIS 14.8 million. Israel Shipyards Industries attributed the growth to progress on its Reshef-class vessel project and the start of a contract to supply four vessels to a foreign government customer.

The shipyard segment’s order backlog exceeded NIS 2.52 billion.

Port segment

Port segment revenue increased by 28% to approximately NIS 55.5 million.

Segment profit rose by 83.3% to around NIS 14.3 million. The company attributed this growth to higher cargo discharge volumes following the addition of another berth.

The pilot phase of a new grain silo facility for unloading bulk cargo also supported the result.

Construction materials and maritime transport

Revenue from the Ciment construction materials segment rose by approximately 14.8% to NIS 276.7 million.

Segment profit increased by 58.1% to approximately NIS 31.8 million, mainly because of a higher average cement selling price.

Meanwhile, the maritime transport segment generated revenue of approximately NIS 15.8 million and a profit of around NIS 2.6 million.

A subsidiary recently signed an agreement to acquire an additional 39,000-tonne cargo vessel for approximately US$14.2 million.

Bond issuance and expansion plans

Israel Shipyards Industries completed its first bond issuance on the Tel Aviv Stock Exchange in July 2026.

The company raised NIS 200 million after receiving demand of approximately NIS 970 million.

The group is also developing Aeroneus Systems, which specialises in drone interception solutions.

In addition, Israel Shipyards Industries is awaiting the outcome of a tender to acquire a 51% stake in the Port of Lavrion in Greece as part of its international expansion.

“The strong results of the second quarter reflect the initial fruits of the growth engines we have worked on in recent years across all sectors of activity,” said Zvika Shechterman, CEO of Israel Shipyards Industries.

“We are showing revenue growth, significant improvement in operational parameters and a surge in net profit, led by the shipyard, port and construction materials segments. The silo project proves that investment in innovative technology streamlines discharge rates and creates a competitive and efficient alternative,” he added.

The post Israel Shipyards Industries reports strong second-quarter profit growth appeared first on Container News.