Hilan Reports Double-Digit Growth Despite 4% Stock Drop in Tel Aviv
Hilan, a leading Israeli software services company, saw its share price fall 4% on the Tel Aviv Stock Exchange despite reporting strong financial results for the second quarter of 2026. The company operates in four main sectors: payroll and human resources services, business solutions via its subsidiary Ness, IT infrastructure through subsidiary Wei Ankor, and software product marketing. Hilan employs 6,450 workers and is controlled and managed by Avi Baum and Eli Zibert, respectively.
In Q2 2026, Hilan posted a net profit of 66 million shekels, marking a 9.7% increase compared to the same quarter last year. Revenues rose 11.2% to 785 million shekels, and operating profit grew 12.2% to 97 million shekels. The company’s equity stood at 1.3 billion shekels at quarter-end. For the first half of 2026, Hilan reported a net profit of 137 million shekels, up 7.9% from 127 million shekels in the first half of 2025.
In July, Hilan completed the acquisition of software company Log-On for 192 million shekels through Ness. Log-On employs 1,000 people. The company also announced a dividend distribution of 46 million shekels. The highest growth in the first half was in the IT infrastructure segment, led by Wei Ankor, which increased revenues by 12.4% to 157 million shekels.
However, Hilan disclosed a significant legal development involving Wei Ankor. In late May, the Jerusalem District Court convicted Wei Ankor, its former CEO Oshri Sharon, and a former employee on most charges related to bid-rigging offenses. The convictions stem from a case involving three software companies and four employees charged with 18 offenses of collusion and fraud in contracts with Israel Aerospace Industries between 2009 and 2012, involving millions of dollars. Wei Ankor and the former CEO were acquitted of one charge, with sentencing pending. Other convicted companies include Triple C Cloud Computing and Harel Information Technologies, while Matrix was acquitted of one charge.
