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Shikun & Binui Boosts Net Profit and Credit Rating Following Energy Unit Sale
Shikun & Binui's net profit surged 45% in Q2 2026 following the 4.45 billion shekel sale of its energy subsidiary to Generation Fund, which also led to a credit rating upgrade. Despite revenue declines in some sectors, the company expects significant debt reduction and improved cash flow from the deal.
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What happened
- 01Shikun & Binui sold its energy subsidiary to Generation Fund for 4.45 billion shekels.
- 02Net profit rose 45% to 141 million shekels in Q2 2026, boosted by tax income from the sale.
- 03Debt is expected to fall from 12.1 billion to 5.9 billion shekels by Q3 2027 due to the transaction.
- 04S&P Maalot upgraded the company’s unsecured bond ratings to A+ following the sale.
- 05Israeli construction revenues grew 17%, while US and European segments saw declines.
- 06The company sold 309 housing units in Israel, mostly under a government pricing program.
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