Ituran Location and Control Ltd
(NASDAQ:ITRN)

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based services and wireless communications products. The company's Location-Based Services segment provides stolen vehicle recovery and tracking services, which locate, track, and recover stolen vehicles for its subs...

Website: http://www.ituran.com

Founded: 1994

Full Time Employees: 3,000

Sector: Technology

Industry: Communication Equipment

Technology

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Unit: USD	2025-11-18	2025-08-19	2025-05-28	2025-02-26	2024-12-31	2024-11-21	2024-08-19	2024-05-28	2024-02-29	2023-12-31	2023-11-27	2023-08-15	2023-05-24	2023-02-28	2022-12-31	2022-11-21	2022-08-29	2022-05-24	2022-03-07	2021-12-31	2021-11-16	2021-08-23	2021-05-25	2021-03-03	2020-12-31	2020-11-18	2020-08-25	2020-05-13	2020-03-04	2019-12-31	2019-11-25	2019-09-26	2019-08-28	2019-05-21	2019-03-11	2018-12-31	2018-11-26	2018-09-28	2018-08-30	2018-05-23	2018-02-27	2017-12-31	2017-11-15	2017-08-16	2017-05-17	2017-02-27	2016-12-31	2016-11-15	2016-08-11	2016-05-23	2016-02-24	2015-12-31	2015-11-18	2015-08-13	2015-05-18	2015-02-17	2014-12-31	2014-11-18	2014-08-11	2014-05-15	2014-02-19	2013-12-31	2013-11-13	2013-08-05	2013-05-13	2013-02-19	2012-12-31	2012-11-19	2012-08-15	2012-05-30	2012-02-22	2011-12-31	2011-11-16	2011-08-11	2011-05-17	2011-03-01	2010-12-31	2010-11-22	2010-08-25	2010-05-25	2010-02-17	2009-12-31	2009-11-17	2009-08-12	2009-05-18	2009-02-23	2008-12-31	2008-11-24	2008-08-12	2008-05-14	2008-02-21	2007-12-31	2007-11-19	2007-08-20	2007-05-29	2007-02-20	2006-12-31	2006-11-21	2006-08-16	2006-05-15	2006-02-21	2005-12-31	2005-11-14

revenues:
telematics services	193,486,000	125,936,000	62,180,000	242,491,000	61,548,000	180,943,000	121,352,000	60,935,000	234,541,000	59,426,000	175,115,000	114,963,000	55,777,000	209,558,000		155,671,000	102,540,000	50,226,000	189,649,000		140,873,000	92,562,000	45,619,000	182,944,000		137,185,000	92,707,000	48,976,000	204,728,000			104,825,000	104,825,000	53,159,000	181,357,000
telematics products	72,040,000	47,312,000	24,275,000	93,766,000	21,335,000	72,431,000	48,543,000	24,091,000	85,437,000	18,382,000	67,055,000	46,154,000	23,695,000	83,514,000		62,453,000	42,920,000	21,846,000	81,235,000		59,655,000	42,265,000	21,746,000	62,683,000		44,829,000	28,978,000	19,398,000	74,604,000			40,021,000	40,021,000	20,445,000	71,978,000
cost of revenues:
gross profit	131,365,000	84,940,000	42,019,000	160,620,000	41,116,000	119,504,000	79,347,000	39,543,000	153,161,000	38,400,000	114,761,000	75,351,000	36,689,000	137,562,000		101,709,000	67,094,000	33,263,000	126,482,000		93,056,000	61,185,000	30,364,000	115,515,000		86,003,000	58,626,000	30,969,000	130,518,000	30,492,000	100,026,000	68,148,000	68,148,000	34,637,000	127,328,000		89,277,000	60,384,000	60,384,000	31,457,000	119,384,000		88,807,000	58,263,000	28,081,000	102,031,000		75,659,000	49,255,000	23,790,000	89,881,000		67,603,000	45,599,000	23,362,000	97,133,000		73,442,000	48,582,000	23,744,000	89,302,000		64,955,000	42,993,000	20,982,000	74,161,000		55,323,000	36,802,000	18,379,000	79,296,000		60,768,000	39,853,000	19,899,000	72,494,000		52,659,000	34,504,000	17,170,000	60,559,000
yoy	219.50%	-28.92%	-47.04%	306.19%	-73.16%	211.21%	-30.86%	-47.52%	317.46%	-72.09%		-25.92%	-45.32%	313.56%			-27.90%	-45.64%	316.55%			-28.86%	-48.21%	273.00%		182.05%	-41.39%	-54.56%	91.52%	-11.97%	-21.44%		-23.67%	-42.64%	110.86%		-25.22%		-32.01%	-46.01%	325.14%			-22.99%	-42.99%	328.88%			-27.14%	-47.83%	284.73%			-37.91%	-51.91%	309.08%			-25.21%	-44.77%	325.61%			-22.29%	-42.99%	303.51%			-39.44%	-53.88%	298.49%			-24.32%	-42.33%	322.21%
qoq	54.66%	102.15%	-73.84%	290.65%	-65.59%	50.61%	100.66%	-74.18%	298.86%	-66.54%	52.30%	105.38%	-73.33%			51.59%	101.71%	-73.70%			52.09%	101.51%	-73.71%			46.70%	89.31%	-76.27%	328.04%	-69.52%	46.78%	0.00%	96.75%	-72.80%			47.85%	0.00%	91.96%	-73.65%			52.42%	107.48%	-72.48%			53.61%	107.04%	-73.53%			48.26%	95.18%	-75.95%			51.17%	104.61%	-73.41%			51.08%	104.90%	-71.71%			50.33%	100.24%	-76.82%			52.48%	100.28%	-72.55%			52.62%	100.96%	-71.65%
research and development expenses	15,654,000	9,920,000	4,862,000	18,090,000	4,483,000	13,607,000	9,117,000	4,523,000	16,986,000	4,240,000	12,746,000	8,354,000	4,138,000	16,848,000		12,232,000	8,131,000	4,140,000	14,099,000		10,168,000	6,841,000	3,546,000	12,767,000		9,959,000	7,305,000	3,886,000	13,913,000	3,578,000	10,335,000	7,128,000	7,128,000	3,751,000	6,223,000		3,727,000	2,099,000	2,099,000	1,160,000	3,160,000		2,444,000	1,768,000	782,000	2,895,000		2,082,000	1,401,000	675,000	2,401,000		1,699,000	1,085,000	490,000	2,526,000		1,895,000	1,245,000	591,000	2,414,000		526,000	334,000	165,000	669,000		500,000	340,000	183,000	631,000		480,000	284,000	139,000	481,000		333,000	222,000	106,000	372,000
selling and marketing expenses	13,491,000	8,634,000	4,259,000	15,271,000	3,980,000	11,291,000	7,272,000	3,574,000	13,643,000	3,535,000	10,108,000	6,606,000	3,323,000	13,327,000		10,025,000	6,580,000	3,124,000	11,906,000		8,877,000	5,880,000	2,957,000	11,014,000		8,428,000	5,899,000	3,059,000	12,778,000	3,185,000	9,593,000	6,303,000	6,303,000	2,930,000	11,340,000		8,423,000	5,482,000	5,482,000	2,852,000	12,246,000		9,551,000	6,278,000	2,828,000	10,074,000		7,471,000	4,934,000	2,378,000	9,303,000		6,912,000	4,625,000	2,396,000	9,264,000		6,783,000	4,437,000	2,285,000	9,715,000		7,358,000	4,972,000	2,390,000	8,489,000		6,473,000	4,369,000	2,141,000	8,543,000		6,387,000	4,164,000	1,878,000	8,675,000		6,501,000	4,295,000	2,217,000	7,684,000
general and administrative expenses	45,586,000	29,369,000	14,238,000	56,238,000	14,667,000	41,571,000	28,307,000	14,456,000	56,635,000	14,305,000	42,330,000	27,716,000	13,273,000	48,705,000		36,131,000	23,698,000	11,712,000	46,118,000		33,725,000	22,005,000	11,098,000	49,705,000		37,635,000	25,999,000	13,923,000	55,166,000	14,011,000	41,155,000	27,597,000	27,597,000	14,446,000	47,693,000		33,385,000	22,590,000	22,590,000	11,878,000	47,590,000		35,096,000	22,391,000	10,762,000	40,228,000		30,113,000	19,525,000	9,271,000	37,801,000		28,675,000	19,365,000	9,963,000	38,617,000		28,950,000	19,198,000	9,203,000	34,483,000		25,915,000	17,348,000	8,710,000	33,439,000		25,442,000	17,128,000	8,615,000	35,711,000		27,065,000	17,861,000	9,064,000	32,703,000		23,628,000	15,382,000	7,574,000	27,213,000
other incomes (income)	18,000	27,000	6,000		-24,750	-99,000	-123,000	-39,000	-58,000					-92,000									-12,000																																			-63,000							456,000	1,617,000							-13,000			55,000			3,000		908,000
operating income	56,616,000	36,990,000	18,654,000	71,169,000	18,035,000	53,134,000	34,774,000	17,029,000	65,955,000	16,505,000	49,450,000	32,557,000	15,912,000	58,774,000		43,470,000	28,803,000	14,366,000	54,615,000		40,438,000	26,545,000	12,775,000	27,831,000		15,761,000	5,215,000	10,074,000	22,654,000	-16,361,000	39,015,000	27,115,000	27,115,000	13,506,000	62,378,000		44,050,000	30,331,000	30,331,000	15,541,000	56,535,000		41,862,000	27,969,000	13,797,000	47,998,000		35,020,000	23,461,000	11,509,000	40,644,000		30,334,000	20,538,000	10,525,000	45,870,000		35,877,000	23,756,000	11,700,000	38,290,000		30,243,000	19,417,000	9,261,000	29,947,000		21,923,000	14,540,000	7,457,000	34,488,000		26,849,000	17,544,000	8,818,000	30,580,000		22,194,000	14,602,000	7,270,000	24,382,000
yoy	213.92%	-30.38%	-46.36%	317.93%	-72.66%	221.93%	-29.68%	-47.69%	314.50%	-71.92%		-25.10%	-44.76%	309.12%			-28.77%	-45.88%	327.51%			68.42%	144.97%	176.27%		-196.33%	-86.63%	-62.85%	-16.45%	-221.14%	-37.45%		-38.44%	-55.47%	105.66%		-22.08%		-27.55%	-44.43%	309.76%			-20.13%	-41.19%	317.05%			-22.66%	-43.96%	286.17%			-42.75%	-55.70%	292.05%			-21.45%	-39.74%	313.45%			-11.43%	-36.31%	301.60%			-45.85%	-57.50%	291.11%			-20.95%	-39.61%	320.63%
qoq	53.06%	98.30%	-73.79%	294.62%	-66.06%	52.80%	104.20%	-74.18%	299.61%	-66.62%	51.89%	104.61%	-72.93%			50.92%	100.49%	-73.70%			52.34%	107.79%	-54.10%			202.22%	-48.23%	-55.53%	-238.46%	-141.94%	43.89%	0.00%	100.76%	-78.35%			45.23%	0.00%	95.17%	-72.51%			49.67%	102.72%	-71.26%			49.27%	103.85%	-71.68%			47.70%	95.14%	-77.05%			51.02%	103.04%	-69.44%			55.76%	109.66%	-69.08%			50.78%	94.98%	-78.38%			53.04%	98.96%	-71.16%			51.99%	100.85%	-70.18%
financing income (expenses)	-1,122,000	-782,000		80,000	41,250	165,000		75,000						-5,944,000					-5,538,000					1,480,000					576,000					-1,015,000	1,236,000						-989,000		1,091,000					1,246,000					774,000					1,215,000					144,000
income before income tax	55,494,000	36,208,000	19,200,000	71,249,000	17,950,000	53,299,000	34,905,000	17,104,000	64,405,000	14,857,000	49,548,000	32,708,000	15,738,000	52,830,000		38,818,000	24,865,000	11,801,000	48,968,000		35,719,000	24,560,000	11,779,000	29,039,000		19,417,000	6,081,000	9,410,000	23,204,000	-13,073,000	36,277,000	25,213,000	25,213,000	12,418,000	76,752,000		60,017,000	30,899,000	30,899,000	15,817,000			42,953,000	28,810,000	14,286,000			36,266,000	24,299,000	11,577,000			31,108,000	20,746,000	10,996,000			37,092,000	23,712,000	11,825,000			30,387,000	19,657,000	9,322,000			29,693,000	22,114,000	7,467,000			27,472,000	18,163,000
income tax expenses	-11,221,000	-7,329,000	-4,066,000	-14,579,000	-3,345,000	-11,234,000	-7,205,000	-3,430,000	-13,355,000	-2,534,000	-10,821,000	-7,220,000	-3,419,000	-12,745,000		-8,998,000	-5,918,000	-2,464,000	-11,854,000		-9,055,000	-5,718,000	-2,813,000	-10,856,000		-8,595,000	-4,817,000	-1,926,000	-12,234,000	-1,365,000	-10,869,000	-7,189,000	-7,189,000	-3,497,000	-17,273,000		-12,416,000	-8,510,000		-4,657,000	-17,705,000		-12,388,000		-4,576,000	-14,877,000		-10,945,000		-3,215,000	-12,822,000		-9,657,000		-3,339,000	-14,246,000
share in losses of affiliated companies	-31,000		-34,000		178,000	-301,000	-122,000	-81,000		116,000	-822,000	-627,000				-412,000																																	-1,307,000					-844,000				-308,000	-201,000				-1,000	-1,000				-29,000	-14,000	-14,000
net income for the period	44,242,000	28,861,000	15,100,000	56,547,000	10,441,000	41,764,000	27,578,000	13,593,000	50,344,000	9,476,250	37,905,000	24,861,000	11,953,000	39,500,000		29,408,000	18,826,000	9,294,000	37,012,000		26,625,000	18,821,000	8,955,000	17,341,000		9,964,000	377,000	6,581,000	7,767,000	5,656,750	22,627,000	16,053,000	16,053,000	8,053,000	67,558,000		51,469,000	24,613,000	24,613,000	11,847,000	46,361,000		36,052,000	24,855,000	13,710,000	34,728,000		24,767,000	15,940,000	7,670,000	26,572,000		19,969,000	13,463,000	7,350,000	32,907,000		25,411,000	16,033,000	7,905,000	25,554,000		20,980,000	13,422,000	6,238,000	25,960,000		21,300,000	15,857,000	5,261,000	26,796,000		20,476,000	13,600,000	6,775,000			16,026,000	10,149,000	5,162,000	18,192,000
less: net income attributable to non-controlling interest	-1,552,000	-816,000	-508,000	-2,893,000	-945,000	-1,948,000	-1,415,000	-557,000	-2,207,000	-420,000	-1,787,000	-1,257,000	-598,000	-2,397,000		-1,877,000	-1,359,000	-565,000	-2,756,000		-1,944,000	-1,452,000	-694,000	-1,218,000		-663,000	-343,000		-878,000	-401,000	-477,000		-302,000		-3,023,000		-2,124,000			-566,000	-2,567,000		-2,082,000		-723,000	-2,589,000		-1,885,000		-571,000			-1,180,000		-539,000					-577,000					-236,000					-161,000					-297,000			-784,000		-362,000
net income attributable to the company	42,690,000	28,045,000	14,592,000	53,654,000	13,838,000	39,816,000	26,163,000	13,036,000	48,137,000	12,019,000	36,118,000	23,604,000	11,355,000	37,103,000		27,531,000	17,467,000	8,729,000	34,256,000		24,681,000	17,369,000	8,261,000	16,123,000		9,301,000	34,000	6,367,000	6,889,000	-15,261,000	22,150,000	15,751,000	15,751,000	8,057,000	64,535,000		49,345,000	23,294,000	23,294,000	11,281,000	43,794,000		33,970,000	23,440,000	12,987,000	32,139,000		22,882,000	14,732,000	7,099,000	24,971,000		18,789,000	12,629,000	6,811,000	30,429,000		23,415,000	14,738,000	7,328,000	23,762,000		19,714,000	12,732,000	6,002,000	24,880,000		20,470,000	15,244,000	5,100,000	25,758,000
basic and diluted earnings per share attributable to company's stockholders	2.15	1.41	0.73																																									1.12	0.62
basic and diluted weighted-average number of shares outstanding	19,892	19,894	19,894	19,894	19,894		19,894	19,894	20,061	20,000	20,096	20,158	20,314	20,418	20,418	20,435	20,497	20,534	20,769	20,769	20,809	20,813	20,813	20,813	20,813	20,813	20,813	20,813	21,037	21,037	21,112	21,146	21,146	21,342	21,077	21,077	20,982	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968	20,968		20,968
share in profit (losses) of affiliated companies		-18,000		-123,000					-706,000
financing income			546,000				131,000			25,250	101,000	154,000									-4,716,000	-1,982,000				3,651,000	863,000			3,277,000	-2,701,000	-1,854,000	-1,854,000				2,134,000	568,000	568,000	276,000				841,000	489,000	2,056,000				68,000	1,189,000				471,000	1,704,000			-44,000	125,000				240,000	61,000			1,015,000	819,000	10,000
other income				-148,000					2,000	31,750	127,000	118,000	21,000			-149,000	-118,000	-79,000			-3,000	-3,000				5,000	3,000			46,000	-72,000		-48,000				-308,000		-118,000					-143,000	-88,000			973,000	-66,000	-43,000			-17,000	-14,000	-12,000														6,755,000	-17,000
basic and diluted earnings per share attributable to company's shareholders				2.7
other incomes																			-109,000				-3,000					27,000																															-54,000										425,000				-806,000			-944,000			-81,000	-64,000
basic and diluted earnings per share attributable to company’s shareholders					0.5	2																										0.74
basic and diluted earnings per share attributable to company’s stockholders							1.32	0.66	2.4	0.61	1.8	1.17	0.56	1.82		1.35	0.85	0.43	1.65		1.19		0.4	0.77		0.45		0.31	0.33	-0.72	1.05		0.74	0.38	3.06		2.35	1.11	1.11	0.54	2.09		1.62					1.09	0.7	0.34			0.9	0.6	0.33			1.12	0.7	0.35			0.94	0.61	0.29			0.98	0.73	0.24
financing expenses									-1,552,000				-195,000					-2,565,000					-993,000					-654,000
other income (expenses)													43,000											-272,000					-26,000						13,138,000																																	6,755,000
share in losses of affiliated companies ,net													-366,000				-121,000	-43,000					-11,000					-903,000																						-692,000			-1,482,000		-307,000
share in gains of affiliated companies														-585,000					-102,000					-842,000								-1,971,000							2,224,000					4,489,000																																-3,000		-2,000	-2,000	12,000	13,000
financing expense																-4,652,000	-3,938,000
impairment of goodwill																								10,508,000		10,508,000	10,508,000		12,292,000
impairment of intangible assets and other incomes (income)																			-256,000		-152,000	-86,000		3,690,000		3,712,000
share in gains of affiliated companies ,net																					-39,000	-21,000				-858,000	-887,000		-3,203,000	-695,250	-2,781,000		-1,971,000	-868,000	8,079,000		3,868,000	2,224,000		687,000			5,487,000		4,000,000			-554,000
basic and diluted earnings (losses) per share attributable to company’s stockholders																						0.83					0.01
impairment of intangible assets and other incomes																											3,700,000
less: net income (income) attributable to non-controlling interest																												-214,000
impairment of intangible assets and other expenses (income)																													13,715,000
location-based services																														38,771,500	155,086,000						126,315,000	87,189,000	87,189,000	45,699,000	169,752,000		125,284,000	81,437,000	39,739,000	141,940,000		104,673,000	67,507,000	32,155,000	127,683,000		95,595,000	64,093,000	31,948,000	133,692,000		100,737,000	66,295,000	32,180,000	126,951,000		94,754,000	63,422,000	31,393,000	114,565,000		85,437,000	57,335,000	29,215,000	120,410,000		91,968,000	61,888,000	30,338,000	108,101,000		79,321,000	51,866,000	25,724,000	91,574,000
wireless communications products																														14,688,750	58,755,000						47,855,000	33,605,000	33,605,000	17,379,000	68,773,000		51,951,000	34,208,000	17,372,000	57,634,000		44,540,000	28,946,000	15,044,000	47,945,000		36,242,000	23,921,000	12,252,000	48,435,000		37,843,000	25,795,000	13,280,000	43,216,000		31,787,000	20,732,000	9,582,000	35,753,000		26,654,000	17,951,000	8,520,000	39,757,000		31,223,000	19,638,000	10,051,000	39,724,000		27,759,000	18,138,000	9,269,000	29,807,000
other expenses (income)																																5,000			-306,000			-118,000		26,000	-147,000		-146,000																				913,000								-77,000
other expense																																-48,000	5,000
less: net income attributable to non-controlling interests																																-302,000						-1,319,000	-1,319,000					-1,415,000					-1,208,000					-834,000				-1,996,000	-1,295,000				-1,266,000	-690,000				-830,000	-613,000
other expenses																																		4,000												836,000					-268,000					856,000					4,400,000			922,000				985,000			-819,000							3,000
less: net loss attributable to non-controlling interest																																		4,000
income tax expense																																							-8,510,000					-8,444,000					-7,052,000					-6,439,000				-11,373,000	-7,478,000				-9,406,000	-6,234,000				-8,364,000	-6,243,000
income before income taxes																																									55,546,000					50,054,000					41,833,000					47,574,000					38,362,000					37,689,000					35,769,000
share in gains of affiliated company																																									8,520,000					-449,000
basic and diluted earnings per share of attributable to company’s stockholders																																														1.53					1.19					1.45					1.13					1.19
financing income (exspenses)																																																	838,000					208,000
share in losses of affiliated company																																																			-2,439,000					-421,000
less:net income attributable to non-controlling interest																																																			-1,601,000					-2,478,000
other incomes ( income)																																																												-35,000
income tax																																																												-3,920,000	-12,807,000				-3,084,000	-11,690,000				-2,192,000	-8,950,000		-6,996,000	-4,563,000	-2,282,000
other (expenses) income																																																													-166,000					6,755,000
financing income (expenses)																																																													238,000					987,000					2,100,000					139,000		459,000	71,000		1,604,000
share in losses of affiliated
companies																																																													-1,000					-39,000
less :net income attributable to non-controlling interest																																																													-1,792,000					-1,080,000					-1,038,000			-541,000					-600,000
share in income (losses) of affiliated
share in income (losses) of affiliated companies																																																																							-23,000
basic and diluted earnings per share of attributable to company's stockholders																																																																							1.23
financing income (expenses) ,net																																																																									1,429,000
less: net income attributable to non- controlling interest																																																																									-782,000
net income for the period attributable to the company																																																																									19,694,000
basic and diluted earning per share attributable to company's shareholders																																																																									0.94
basic and diluted weighted-average number of shares outstanding:
basic																																																																									20,968
diluted																																																																									20,968
other ( expenses) income																																																																										41,000
financing income																																																																										578,000
net income attributable to company																																																																										13,059,000
earnings per share attributable to company's shareholders
basic																																																																										0.62	0.31	1		0.73	0.46	0.23	0.87
diluted																																																																										0.62	0.31	1		0.73	0.46	0.23	0.87
weighted-average number of shares outstanding
basic																																																																										20,968	20,968	20,968		20,968	20,968	20,968	20,968	20,968										23,315					23,194
diluted																																																																										20,968	20,977	20,977		20,977	20,977	20,977	20,977	20,977										23,422					23,457
financing income ( expenses )																																																																											239,000					-127,000
income before taxes on income																																																																											9,057,000	29,775,000		22,572,000	14,592,000	7,079,000	25,986,000
net income attributable to company stockholders																																																																											6,478,000
earnings per share attributable to company stockholders:
basic																																																																										0.62	0.31	1		0.73	0.46	0.23	0.87
diluted																																																																										0.62	0.31	1		0.73	0.46	0.23	0.87
taxes on income																																																																												-7,686,000		-6,544,000	-4,441,000	-1,929,000	-7,139,000
net income for the year																																																																												22,086,000
less :net income attributable to non controlling interest																																																																												-1,071,000
net income attributable to company shareholders																																																																												21,015,000			9,549,000	4,800,000
earnings per share:
basic																																																																										0.62	0.31	1		0.73	0.46	0.23	0.87
diluted																																																																										0.62	0.31	1		0.73	0.46	0.23	0.87
net income for the period attributable to company shareholders																																																																														15,242,000
earnings per share: attributable to company shareholders
basic																																																																										0.62	0.31	1		0.73	0.46	0.23	0.87
diluted																																																																										0.62	0.31	1		0.73	0.46	0.23	0.87
earnings per share attributable to company shareholders
basic																																																																										0.62	0.31	1		0.73	0.46	0.23	0.87
diluted																																																																										0.62	0.31	1		0.73	0.46	0.23	0.87
other ( income) expenses																																																																																3,000
minority interests in income of subsidiaries																																																																																	-668,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-09-30	2025-06-30	2025-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2020-12-31	2020-03-04	2019-12-31	2019-11-25	2019-09-26	2019-08-28	2019-05-21	2019-03-11	2018-12-31	2018-11-26	2018-09-28	2018-08-30	2018-06-30	2018-05-23	2018-02-27	2017-12-31	2017-11-15	2017-08-16	2017-05-17	2017-02-27	2016-12-31	2016-11-15	2016-08-11	2016-05-23	2016-02-24	2015-12-31	2015-11-18	2015-09-30	2015-08-13	2015-05-18	2015-02-17	2014-12-31	2014-02-19	2013-12-31	2013-11-13	2013-08-05	2012-12-31	2012-11-19	2012-02-22	2011-12-31	2011-08-11	2010-12-31	2010-11-22	2009-12-31	2007-12-31	1994-12-31

current assets
cash and cash equivalents	93,072,000	88,735,000	75,683,000	53,434,000	39,879,000	34,205,000	33,276,000	27,850,000	30,068,000	32,671,000	43,254,000			53,964,000	53,964,000	56,254,000	62,391,000	62,391,000	53,049,000	51,398,000	51,398,000	55,743,000	36,106,000	36,106,000		34,734,000	36,906,000	36,906,000	31,821,000	27,116,000	26,610,000	31,087,000	31,087,000	25,632,000	25,448,000	26,812,000	27,016,000		29,434,000	29,434,000	30,988,000	32,908,000	38,418,000	38,418,000	41,697,000	41,697,000	36,620,000	33,655,000		23,692,000	35,270,000		39,806,000		40,214,000	60,813,000
investments in marketable securities	2,000	2,000	2,000	119,000	144,000	257,000	209,000	316,000	382,000	496,000	1,951,000			358,000		233,000		441,000	1,486,000	1,897,000		1,674,000			-22,375,000	3,460,000			3,540,000		695,000			390,000		348,000			2,553,000	2,553,000		2,379,000									68,000
accounts receivable	62,059,000	59,899,000	54,217,000	45,390,000	45,481,000	47,909,000	47,990,000	45,821,000	44,552,000	45,837,000	48,245,000			45,090,000	45,090,000	48,667,000	51,205,000	51,205,000	50,192,000	54,261,000	54,261,000	62,782,000	43,097,000	43,097,000		44,621,000	41,009,000	41,009,000	45,283,000	41,636,000	38,786,000	33,865,000	33,865,000	35,862,000	34,821,000	34,901,000	27,436,000		27,802,000	27,802,000	29,719,000	28,755,000	27,960,000	27,960,000	29,239,000	29,239,000	30,141,000	30,893,000		27,171,000	25,294,000		32,225,000		31,929,000	24,906,000
other current assets	49,396,000	48,279,000	48,182,000	52,724,000	51,888,000	56,056,000	52,382,000	48,156,000	45,883,000	42,655,000	44,544,000			49,201,000	49,201,000	48,200,000	49,150,000	49,150,000	52,036,000	52,983,000	52,983,000	45,591,000	39,746,000	39,746,000		45,109,000	47,932,000	41,394,000	45,554,000	41,100,000	40,966,000	35,522,000	35,522,000	34,367,000	31,573,000	28,047,000	22,437,000		20,240,000	20,240,000	23,253,000	23,566,000	22,318,000	22,318,000	18,437,000	18,437,000	18,191,000	16,232,000		23,169,000	12,048,000		13,860,000		7,558,000	6,136,000
inventories	25,672,000	24,697,000	23,281,000	26,872,000	26,125,000	28,048,000	27,963,000	28,509,000	32,494,000	29,154,000	31,550,000			25,537,000	25,537,000	25,642,000	26,980,000	26,980,000	27,489,000	28,367,000	28,367,000	35,066,000	13,526,000	13,526,000		14,623,000	14,244,000	14,244,000	15,087,000	17,267,000	16,057,000	14,351,000	14,351,000	13,953,000	13,072,000	13,166,000	12,781,000		11,808,000	11,808,000	12,163,000	11,226,000	12,164,000	12,164,000	14,506,000	14,506,000	12,504,000	12,732,000		13,275,000	10,881,000		8,013,000		10,934,000	11,096,000
long-term investments and other assets
investments in affiliated companies	494,000	549,000	479,000	714,000	602,000	763,000	1,143,000	1,188,000	1,216,000	1,330,000	1,218,000			1,666,000	1,666,000	2,086,000	2,998,000	2,998,000	4,158,000	8,574,000	4,872,000	4,088,000	13,774,000	13,774,000	-1,250,000	12,388,000	14,839,000	14,839,000	13,690,000	16,553,000	16,507,000			11,661,000	7,694,000	5,467,000			4,405,000	4,405,000	2,139,000	1,943,000
investments in other companies	1,833,000	1,799,000	1,530,000	2,213,000	1,780,000	1,839,000	1,730,000	1,779,000	1,631,000	1,658,000	1,827,000			3,260,000	3,260,000		3,014,000	3,014,000	2,884,000	2,772,000	2,772,000		2,186,000	2,186,000	-897,000	1,937,000	1,382,000	1,382,000		1,195,000	1,150,000																						90,000		83,000	80,000
other non-current assets	5,290,000	5,961,000	5,891,000	3,989,000	3,967,000	3,762,000	3,789,000	3,129,000	3,221,000	3,465,000	3,405,000			3,365,000	3,365,000	3,325,000	3,858,000	3,858,000	4,004,000	3,222,000	3,222,000	2,998,000	1,062,000	1,062,000		916,000	939,000	939,000	1,718,000	1,928,000	1,700,000	1,515,000	1,515,000	1,350,000	1,319,000	1,344,000	1,166,000		1,134,000	1,134,000	1,376,000	1,768,000	2,091,000	2,091,000	1,022,000	1,022,000	1,140,000	1,596,000		1,684,000	2,216,000
deferred income taxes	14,828,000	13,952,000	12,585,000	14,452,000	12,828,000	12,849,000	12,051,000	11,400,000	10,746,000	10,868,000	11,412,000			10,385,000	10,385,000	10,410,000	11,323,000	11,323,000	11,849,000	12,127,000	12,127,000	14,550,000	6,450,000	6,450,000	1,819,000	7,742,000	1,860,000	8,398,000	2,345,000	2,171,000	2,130,000	2,280,000	2,280,000	2,332,000	2,376,000	2,312,000	2,279,000	1,731,000	3,319,000	3,319,000	3,280,000	2,955,000	2,886,000	2,886,000	3,781,000	3,781,000	3,740,000	3,690,000		5,391,000	5,568,000		5,565,000		5,024,000	5,653,000
funds in respect of employee rights upon retirement	26,495,000	24,510,000	21,690,000	18,525,000	15,790,000	15,537,000	15,118,000	15,146,000	14,728,000	14,739,000	16,263,000			11,476,000	11,476,000	11,316,000	10,888,000	10,888,000	10,141,000	9,497,000	9,497,000	9,588,000	9,006,000	9,006,000		9,146,000	9,627,000	9,627,000	9,216,000	9,061,000	8,481,000	7,868,000	7,868,000	8,006,000	7,501,000	7,631,000	7,174,000	-250,000	7,159,000	7,159,000	7,340,000	6,753,000	6,642,000	6,642,000	6,649,000	6,649,000	6,303,000	6,019,000		5,129,000	4,741,000		4,976,000		4,253,000	3,606,000
property and equipment	39,970,000	38,558,000	35,951,000	41,955,000	41,589,000	44,528,000	42,969,000	45,598,000	40,809,000	40,263,000	39,453,000			48,866,000	48,866,000	48,438,000	50,804,000	50,804,000	51,696,000	50,460,000	50,460,000	52,607,000	37,232,000	37,232,000		40,421,000	39,047,000	39,047,000	38,722,000	36,682,000	36,365,000	35,644,000	35,644,000	34,505,000	33,511,000	32,291,000	31,514,000		31,612,000	31,612,000	37,070,000	31,841,000	31,908,000	31,908,000	32,546,000	32,546,000	35,695,000	33,738,000		32,874,000	40,870,000		51,096,000		43,287,000	39,090,000
operating lease right-of-use assets	8,323,000	8,814,000	9,115,000	8,071,000	6,991,000	7,994,000	8,678,000	9,552,000	9,629,000	10,815,000	11,682,000			12,626,000		6,331,000	6,962,000	6,962,000	7,736,000
intangible assets	8,932,000	9,086,000	8,686,000	10,830,000	10,852,000	11,043,000	11,853,000	12,620,000	13,491,000	14,535,000	15,937,000			23,355,000	23,355,000	37,822,000	38,582,000	38,582,000	39,108,000	39,040,000	39,040,000	29,389,000	77,000	77,000		50,000	38,000	38,000	23,000	23,000	23,000	23,000	23,000	25,000	25,000	26,000	26,000		322,000	322,000	382,000	405,000	452,000	452,000	546,000	739,000	2,285,000	2,357,000		2,621,000	3,355,000		4,102,000		4,405,000	5,064,000
goodwill	39,690,000	39,613,000	39,257,000	39,400,000	39,213,000	39,328,000	39,411,000	39,510,000	39,485,000	39,530,000	39,912,000			50,086,000	50,086,000	62,343,000	63,074,000	63,074,000	63,007,000	69,874,000	62,896,000	70,875,000	3,587,000	3,758,000		3,726,000	3,777,000	3,777,000	3,717,000	3,746,000	3,606,000	3,406,000	3,406,000	3,484,000	3,405,000		3,356,000		4,006,000	4,006,000	4,169,000	3,948,000	4,041,000	4,041,000	5,986,000	5,433,000	8,013,000	7,833,000		8,314,000	9,234,000		10,400,000		11,374,000	9,639,000
total assets	376,056,000	364,454,000	336,549,000	318,688,000	297,129,000	304,118,000	298,562,000	290,574,000	288,335,000	288,016,000	310,653,000	293,021,000	312,472,000	339,235,000	339,235,000	364,193,000	381,670,000	381,670,000	378,835,000	384,472,000	373,792,000	387,351,000	207,168,000	207,168,000		218,873,000	215,159,000	215,159,000	211,899,000	199,934,000	193,076,000	178,019,000	178,019,000	171,654,000	161,201,000	155,903,000	142,003,000		143,875,000	143,875,000	154,382,000	148,524,000	152,337,000	152,337,000	160,902,000	160,542,000	159,865,000	153,958,000	147,339,000	148,481,000	155,060,000	157,457,000	188,089,000	188,344,000	176,504,000	185,868,000	216,559,000
ituran location and control ltd.
condensed consolidated balance sheets
current liabilities
credit from banking institutions				355,000	1,729,000	4,143,000	8,901,000	12,190,000		16,219,000	17,865,000			18,110,000	18,110,000	20,599,000	19,200,000	19,200,000	13,319,000	10,559,000	10,559,000	8,022,000	3,000	3,000		3,000	48,000	48,000	145,000	3,000	413,000	3,000	3,000	3,000	9,000	3,000	155,000		447,000	447,000	6,000				38,000	38,000	596,000	90,000		514,000	390,000		67,000		750,000	6,000
accounts payable				20,842,000	18,802,000	23,224,000	23,903,000	21,937,000		20,890,000	24,075,000			22,656,000	22,656,000	19,733,000	23,879,000	23,879,000	22,535,000	23,987,000	23,987,000	27,990,000	19,059,000	19,059,000		22,760,000	23,264,000	23,264,000	22,410,000	20,529,000	18,018,000	18,624,000	18,624,000	15,589,000	13,555,000	13,218,000	10,466,000		10,480,000	10,480,000	13,524,000	11,748,000	11,658,000	11,658,000	11,436,000	11,436,000	11,271,000	10,564,000		10,204,000	9,319,000		12,721,000		14,764,000	13,459,000
deferred revenues				27,117,000	25,139,000	25,466,000	23,105,000	21,783,000		21,480,000	23,401,000			29,146,000	29,146,000	30,183,000	30,995,000	30,995,000	31,790,000	37,671,000	37,671,000	42,135,000	14,045,000	14,045,000		14,561,000	12,796,000	12,796,000	13,431,000	12,613,000	12,075,000	10,762,000	10,762,000	11,218,000	11,665,000	10,782,000	9,210,000		8,737,000	8,737,000	9,920,000	8,943,000	9,401,000	9,401,000	9,852,000	9,852,000	9,806,000	10,195,000		8,836,000	7,869,000		7,921,000		4,883,000	5,486,000
other current liabilities				44,150,000	39,015,000	40,846,000	38,719,000	37,373,000		37,241,000	39,985,000			29,366,000	31,153,000	29,883,000	30,926,000	30,926,000	30,209,000	32,475,000	32,475,000	38,236,000	27,525,000	27,525,000		29,494,000	29,644,000	29,644,000	29,562,000	27,594,000	30,328,000	26,738,000	26,738,000	27,247,000	23,276,000	26,877,000	21,750,000		22,126,000	22,126,000	23,620,000	25,757,000	25,253,000	25,253,000	29,396,000	30,276,000	27,421,000	25,976,000		26,383,000	13,922,000		17,878,000		16,664,000	17,443,000
long-term liabilities
long term loan				237,000	263,000	309,000	281,000			3,901,000	8,597,000			49,803,000		53,924,000		57,042,000	60,314,000	62,622,000		76,895,000
liability for employee rights upon retirement				24,562,000	21,819,000	21,799,000	21,541,000	21,224,000		21,171,000	22,971,000			17,000,000	17,000,000	17,084,000	16,603,000	16,603,000	15,766,000	14,801,000	14,801,000	15,020,000	13,245,000	13,245,000		13,750,000	14,062,000	14,062,000	13,651,000	13,406,000	12,758,000	11,751,000	11,751,000	11,968,000	11,469,000	11,355,000	10,637,000	275,000	10,642,000	10,642,000	10,845,000	10,376,000	10,229,000	10,229,000	9,607,000	9,607,000	9,275,000	8,895,000		7,408,000	6,865,000		7,208,000		6,279,000	5,457,000
operating lease liabilities, non-current				4,774,000	4,538,000	4,975,000	5,847,000	6,567,000		7,681,000	8,457,000			10,839,000	10,839,000	4,018,000	4,238,000	4,238,000	4,761,000
others non-current liabilities				2,027,000	1,896,000	1,983,000	2,110,000	2,071,000		2,182,000	2,316,000			101,000			348,000	348,000	298,000	325,000
stockholders’ equity				174,454,000	163,701,000	159,303,000	152,539,000	145,797,000		137,590,000	143,174,000	132,460,000	127,192,000	129,330,000	129,330,000	150,032,000		157,972,000	156,015,000	168,195,000	153,693,000	155,130,000	124,526,000	124,526,000		126,976,000		125,790,000	122,907,000				102,229,000	98,305,000	94,420,000	87,389,000			85,662,000	85,662,000	89,794,000	85,325,000		90,696,000		90,918,000	92,727,000	89,443,000		84,676,000
non-controlling interests				5,795,000	5,073,000	6,340,000	5,799,000	7,062,000		6,057,000	5,839,000			6,584,000	6,584,000	6,530,000	6,290,000	6,290,000	6,140,000	6,507,000	6,507,000	13,098,000	7,238,000	7,238,000		7,454,000		7,439,000	7,322,000	7,052,000	6,252,000		5,942,000	5,349,000	4,893,000	4,309,000			3,682,000	3,682,000	3,747,000	3,767,000		3,887,000		4,567,000	4,297,000	4,240,000		3,848,000						3,717,000
total equity				180,249,000	168,774,000	165,643,000	158,338,000	152,859,000		143,647,000	149,013,000			135,914,000	135,914,000	156,562,000	164,262,000	164,262,000	162,155,000	174,702,000	160,200,000	168,228,000	131,764,000	131,764,000		134,430,000	133,229,000	133,229,000	130,229,000	123,318,000	117,226,000	108,171,000	108,171,000	103,654,000	99,313,000	91,698,000	87,821,000		89,344,000	89,344,000	93,541,000	89,092,000	94,583,000	94,583,000	95,485,000	95,485,000	97,024,000	93,683,000		88,524,000			111,181,000		121,268,000	133,843,000
total liabilities and equity				318,688,000	297,129,000	304,118,000	298,562,000	290,574,000		288,016,000	310,653,000			339,235,000	339,235,000	364,193,000	381,670,000	381,670,000	378,835,000	384,472,000	373,792,000	387,351,000	207,168,000	207,168,000		218,873,000		215,159,000	211,899,000	199,934,000	193,076,000		178,019,000	171,654,000	161,201,000	155,903,000			143,875,000	143,875,000	154,382,000	148,524,000		152,337,000		160,542,000	159,865,000	153,958,000		148,481,000						185,868,000
non- current investments and other assets
non- current liabilities
cash & cash equivalent; and investment in trading marketable securities												54,711,000	78,846,000
working capital												58,102,000	66,708,000																																				44,145,000			48,474,000		46,620,000			110,432,000
total liabilities												155,218,000	182,573,000																																				55,332,000			52,105,000		73,181,000			66,968,000
retained earnings												143,259,000	127,684,000		116,479,000		135,442,000				129,580,000							92,065,000					71,717,000											49,067,000		38,831,000			32,187,000			43,185,000		43,689,000			66,239,000
dividend declared per share												900	240
operating lease liabilities, current														1,787,000		2,313,000	2,724,000	2,724,000	2,975,000
provision for contingencies														140,000		158,000	174,000	174,000	186,000	201,000	201,000	326,000	513,000	513,000		397,000	400,000	400,000	418,000	432,000	447,000	435,000	435,000	443,000	449,000	402,000	622,000		573,000		1,285,000	1,273,000			2,599,000	2,599,000	2,745,000	2,888,000		4,509,000	4,250,000		4,550,000		4,799,000	3,071,000
obligation to purchase non-controlling interests														11,743,000	11,743,000	15,916,000	16,653,000	16,653,000	16,567,000	16,272,000	16,272,000
investment in marketable securities															358,000		441,000				1,897,000		1,319,000	1,319,000			3,559,000	3,559,000		1,456,000		398,000	398,000		371,000		2,035,000	-11,000			2,422,000		2,362,000	2,362,000
operating lease right of use assets															12,626,000
loan from bank institution															49,803,000		57,042,000				62,622,000
other non-current liabilities															241,000								402,000	402,000			475,000			577,000		501,000			451,000		369,000										100,000	100,000		642,000
contingent liabilities
equity:
share capital – ordinary shares of nis 0.33⅓ par value:															1,983,000		1,983,000				1,983,000							1,983,000					1,983,000											1,983,000		1,983,000										1,983,000
authorized – december 31, 2019 and 2018 – 60,000,000 shares
issued and outstanding – december 31, 2019 and 2018 – 23,475,431 shares
additional paid- in capital															78,680,000		78,680,000				78,680,000							71,550,000					71,550,000											71,550,000		71,550,000										73,554,000
accumulated other comprehensive income															-25,865,000		-22,187,000				-20,604,000							-9,754,000					-12,967,000											-1,850,000		8,608,000										18,036,000
purchase price adjustment to be settled in shares																					-10,800,000
treasury stock															-41,947,000		-35,946,000				-25,146,000							-30,054,000					-30,054,000											-30,054,000		-30,054,000										-30,054,000
investments in other company																3,126,000						2,400,000							1,183,000			85,000	85,000	87,000	85,000	81,000	78,000		81,000	81,000	81,000	77,000	79,000	79,000	88,000	88,000	87,000	85,000		78,000	80,000
others non-current																129,000						390,000				484,000			496,000		590,000			555,000		479,000
shareholders’ equity																	157,972,000																																		105,711,000		106,271,000		117,289,000	130,126,000
authorized – june 30, 2019 and december 31, 2018 – 60,000,000 shares
issued and outstanding – june 30, 2019 and december 31, 2018 – 23,475,431 shares
other non-current																					325,000							475,000					501,000
authorized – december 31, 2018 and 2017 – 60,000,000 shares
issued and outstanding – december 31, 2018 and 2017 – 23,475,431 shares
cash flows from operating activities
net income for the period																									24,613,000													26,572,000
adjustments to reconcile net income to net cash from operating activities:
depreciation amortization and impairment of goodwill																									6,689,000
gain in respect of trading marketable securities																									-341,000
increase in liability for employee rights upon retirement																									-73,000													717,000
share in gains of affiliated companies																									-2,224,000
capital losses (gains) on sale of property and equipment																									69,000
increase in accounts receivable																									-5,754,000
increase in other current assets																									-3,979,000
decrease (increase) in inventories																									15,000													-658,000
increase in accounts payable																									-1,863,000													-1,176,000
increase in deferred revenues																									-1,927,000													-246,000
increase in other current liabilities																									2,854,000
net cash from operating activities																									19,898,000													35,914,000
cash flows from investment activities
decrease (increase) in long-term funds in respect of employee rights upon retirement, net of withdrawals																									153,000
capital expenditures																									-9,982,000													-18,724,000
sale of marketable securities																									24,046,000
deposit																									-205,000
proceeds from loans to affiliated company																									3,262,000
proceeds from sale of property and equipment																									216,000													406,000
net cash from investment activities																									-7,032,000													-25,706,000
cash flows from financing activities
short term credit from banking institutions																									-33,000													160,000
dividend paid																									-10,067,000
dividend paid to non-controlling interest																									-972,000
net cash from financing activities																									-11,072,000													-18,659,000
effect of exchange rate changes on cash and cash equivalents																									-2,594,000													-2,951,000
net increase in cash and cash equivalents																									-800,000
balance of cash and cash equivalents at beginning of the period																									36,906,000
balance of cash and cash equivalents at end of the period																									36,106,000
note 1
long-term investments and debit balances
stockholders' equity																											125,790,000			116,266,000	110,974,000	102,229,000					83,698,000						90,696,000		90,918,000
non - controlling interest																											7,439,000					5,942,000					4,123,000						3,887,000		4,567,000						4,288,000
total liabilities and shareholders’ equity																											215,159,000					178,019,000					142,003,000						152,337,000		160,902,000						155,060,000		188,089,000		176,504,000
authorized – december 31, 2017 and 2016 – 60,000,000 shares
issued and outstanding – december 31, 2017 and 2016 – 23,475,431 shares
investments in affiliated company																																11,975,000	11,975,000				4,705,000	-5,966,000					1,016,000	1,016,000	1,423,000	1,423,000	169,000	164,000		156,000	207,000		234,000		216,000	205,000
authorized – december 31, 2016 and 2015 – 60,000,000 shares
issued and outstanding – december 31, 2016 and 2015 – 23,475,431 shares
?goodwill																																				3,477,000
depreciation, amortization and impairment of goodwill																																						11,962,000
gain from sale of subsidiary																																						-951,000
exchange differences on principal of deposit and loans
loss (gains) in respect of trading marketable securities																																						-666,000
share in losses of affiliated company																																						2,439,000
capital (gain) losses on sale of property and equipment																																						-31,000
decrease (increase) in accounts receivable																																						117,000
decrease (increase) in other current and non-current assets																																						-2,695,000
increase in other current and non-current liabilities																																						-1,201,000
increase in funds in respect of employee rights upon retirement
net of withdrawals																																						-804,000
subsidiary no longer consolidated																																						-266,000
deposit in escrow																																													4,982,000	4,982,000	4,977,000	4,964,000		4,927,000	4,888,000		4,645,000		5,236,000	5,227,000
sale of (investment in) deposit																																						-341,000
acquisition of non-controlling interests
dividend payment																																						-17,590,000
dividend payment to non-controlling interest																																						-1,229,000
net increase(decrease) in cash and cash equivalents																																						-11,402,000
balance of cash and cash equivalents at beginning of period																																						38,418,000
balance of cash and cash equivalents at end of period																																						27,016,000
working capital (excluding cash and cash equivalents)																																						1,215,000
property and equipment																																						-23,000
others																																							638,000	638,000		313,000
benefit from contingencies																																								573,000
other																																									504,000
authorized – december 31, 2014 and 2013 – 60,000,000 shares
issued and outstanding – december 31, 2014 and 2013 – 23,475,431 shares
authorized – december 31, 2013 and 2012 – 60,000,000 shares
issued and outstanding – december 31, 2013 and 2012 – 23,475,431 shares
cash & cash equivalent; deposit in escrow (short and long term) and investment in trading marketable securities																																																	34,392,000			40,226,000		61,279,000
stockholders equity																																																	88,027,000			101,194,000		110,771,000
loan to former employee																																																			340,000		558,000		558,000	558,000
long term loans																																																		57,000	173,000		218,000		141,000
litigation obligation																																																					22,710,000
total shareholders’ equity																																																			109,999,000
investments in trading marketable securities																																																					1,587,000		1,453,000	4,213,000
other non current assets																																																					3,063,000
non- controlling interests																																																					4,910,000
other assets																																																							2,126,000	1,742,000
capital notes																																																							5,894,000	5,894,000
non –controlling interest																																																							3,979,000
available for sale marketable securities
contingent liabilities, liens and guarantees
authorized – december 31, 2009 and 2008 – 60,000,000 shares
issued and outstanding – december 31, 2009 and 2008 – 23,475,431 shares
retained earning																																																								66,607,000
cash & cash equivalent																																																									38,227,000
shareholders equity																																																									149,591,000
b.
the purchase price for the acquisition included approximately us9.9 million that was paid to the shareholders of mapa and an additional sum of approximately us3.1 million that was transferred to mapa, which was used to repay mapa’s loans to its shareholders.
the acquisition was accounted for according to the purchase method of accounting in accordance with prior business combination gaap (fas 141, business combinations), and accordingly, the respective purchase price (which included direct acquisition costs) was allocated to the assets acquired and liabilities assumed based upon their estimated fair values at the date of acquisition (see appendix a to the cash flow statement).
c.
a.
1.
2.
the functional currency of the company and its subsidiaries located in israel is the new israeli shekel (“nis”), which is the local currency in which those entities operate. the functional currency of the foreign subsidiaries of the group is their respective local currency.
the consolidated financial statements of the company and all of its subsidiaries were translated into u.s. dollars in accordance with the standards of the financial accounting standards board ("fasb"). accordingly, assets and liabilities were translated from local currencies to u.s. dollars using yearend exchange rates, and income and expense items were translated at average exchange rates during the year.
gains or losses resulting from translation adjustments (which result from translating an entity’s financial statements into u.s. dollars if its functional currency is different than the u.s. dollar) are reflected in equity, under “accumulated other comprehensive income”.
balances denominated in, or linked to foreign currency are stated on the basis of the exchange rates prevailing at the balance sheet date. for foreign currency transactions included in the statement of income, the exchange rates applicable on the relevant transaction dates are used. transaction gains or losses arising from changes in the exchange rates used in the translation of such balances are carried to financing income or expenses.
the following table presents data regarding the dollar exchange rate and the israeli cpi:
at december 31,
2009
2008
2007
increase during the year:
3.
the consolidated financial statements were prepared in accordance with accounting principles generally accepted in the united states (“us gaap”).
4.
the preparation of financial statements in conformity with us gaap requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. actual results could differ from those estimates.
the consolidated financial statements include the accounts of the company and all of its subsidiaries. in these financial statements, the term “subsidiary” refers to a company over which the company exerts control (ownership interest of more than 50%), and the financial statements of which are consolidated with those of the company. significant intercompany transactions and balances were eliminated upon consolidation; profits from intercompany sales, not yet realized outside of the group, were also eliminated. non-controlling interests are presented in equity.
the group considers all highly liquid investments, which include short-term bank deposits that are not restricted as to withdrawal or use, and short-term debentures, with original periods to maturity not exceeding three months, to be cash equivalents.
d.
restricted cash is invested in certificates of deposit, which mature within one year and are used to ensure certain representations and warranties in connection with the sale of a subsidiary, towards the buyer. see note 1a1c.
e.
f.
company shares held by the company and its subsidiary are presented as a reduction of equity, at their cost to the company or to the subsidiary, under the caption “treasury stock”. gains on sale of these shares, net of related income taxes, are recorded as additional paid in capital.
losses on the sale of such shares, net of related income taxes, are recorded as deductions from additional paid in capital to the extent that previous net gains from sales are included therein, otherwise in retained earnings.
g.
the allowance for doubtful accounts is determined with respect to amounts the group has determined to be doubtful of collection. in determining the allowance for doubtful accounts, the company considers, among other things, its past experience with customers and the information available on such customers. see also note 20a.
h.
i.
investments in companies in which the group has significant influence (ownership interest of between 20% and 50%) but less than a controlling interest, which are not subsidiaries (“affiliated companies”), are accounted for by the equity method. income on intercompany sales, not yet realized outside of the group, was eliminated.
investments in such companies in which the company no longer has significant influence, are classified as "investments in other companies". see j, below.
j.
k.
the company carries out transactions involving foreign exchange derivative financial instruments (mainly forward exchange contracts) which are designed to hedge the cash flows expected to be paid with respect to forecasted purchases of inventory, denominated in currencies other than the functional currency of the company. such transactions were designated as hedging instruments on the date that the company entered into such derivative contracts, and qualify as cash flow hedges under asc topic 815.
see also note 20b for further disclosure of derivative instruments.
l.
%
operating equipment
office furniture, equipment and computers
vehicles
buildings
leasehold improvements
m.
n

Cashflow Statements:

Quarterly

Annual

Unit: USD	2024-12-31	2023-12-31	2019-09-26	2019-08-28	2018-11-26	2018-09-28	2018-08-30	2018-05-23	2017-11-15	2017-08-16	2017-05-17	2016-11-15	2016-08-11	2016-05-23	2015-11-18	2015-08-13	2015-05-18	2013-11-13	2013-08-05	2012-11-19	2011-08-11	2010-12-31

cash flows from operating activities
net income for the period	14,783,000		16,053,000	16,053,000	51,469,000	24,613,000	24,613,000	11,847,000	36,052,000	24,855,000	13,710,000	24,767,000	15,940,000	7,670,000	19,969,000	13,463,000	7,350,000	20,980,000	13,422,000	21,300,000	13,600,000
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	4,497,000	5,407,000	11,579,000	11,579,000	9,966,000		6,689,000			6,467,000			5,507,000			5,383,000		9,472,000	6,694,000	10,520,000
loss in respect of trading marketable securities and other investments
increase in liability for employee rights upon retirement	954,000	226,000	1,179,000	1,179,000	290,000	-73,000	-73,000	-128,000	827,000	488,000	296,000	960,000		371,000	502,000		381,000	921,000	728,000	703,000	482,000	9,000
share in losses of affiliated companies		-116,000		1,971,000					-5,487,000	-4,489,000	-4,000,000	554,000	1,307,000	692,000	1,482,000	844,000	307,000	1,000	1,000	29,000
deferred income taxes	957,000	-1,430,000	-17,000	-17,000	1,411,000	1,819,000	1,819,000	1,512,000	-268,000	220,000	111,000	-836,000	-1,744,000	-692,000	940,000	-346,000	-5,000	6,000	-452,000	281,000	-566,000	-1,758,000
capital loss on sale of property and equipment
decrease (increase) in accounts receivable	-435,000
decrease (increase) in other current and non-current assets	-1,170,000
decrease (increase) in inventories		201,000
decrease in accounts payable			-347,000							1,487,000			2,906,000			854,000
increase in deferred revenues	-990,000	935,000			-2,065,000	-1,927,000	-1,927,000	-336,000	2,686,000	2,236,000	1,085,000	1,657,000	2,382,000	1,355,000		128,000	-396,000	-38,000	518,000	1,193,000	1,365,000	2,520,000
increase in other current and non-current liabilities	805,000	232,000
net cash from operating activities	22,692,000	21,779,000	31,223,000	31,223,000	34,720,000	19,898,000	19,898,000	7,536,000	29,179,000	17,276,000	3,139,000	27,107,000	15,066,000	5,424,000	28,241,000	19,405,000	8,727,000	34,079,000	20,773,000	23,554,000	23,999,000	9,641,000
cash flows from investment activities
increase in funds in respect of employee rights upon retirement, net of withdrawals		-451,000			-372,000			358,000	-619,000	-363,000	-119,000	-582,000	-247,000	-223,000	-575,000	-487,000	-263,000	-482,000	-329,000		-302,000	-123,000
capital expenditures	-4,488,000	-4,050,000	-10,375,000	-10,375,000	-15,311,000	-9,982,000	-9,982,000	-6,618,000	-10,796,000	-6,749,000	-2,756,000	-9,049,000	-4,900,000	-2,211,000	-15,132,000	-12,969,000	-6,837,000	-13,040,000	-5,660,000	-4,822,000	-10,985,000	-3,735,000
free cash flows	18,204,000	17,729,000	20,848,000	20,848,000	19,409,000	9,916,000	9,916,000	918,000	18,383,000	10,527,000	383,000	18,058,000	10,166,000	3,213,000	13,109,000	6,436,000	1,890,000	21,039,000	15,113,000	18,732,000	13,014,000	5,906,000
return from (investments in) affiliated and other companies
repayment of (investment in) long-term deposit
proceeds from sale of property and equipment	70,000	55,000	35,000	35,000	341,000	216,000	216,000	203,000	305,000	181,000	66,000	133,000	99,000	90,000	683,000	687,000	499,000	485,000	223,000	276,000	226,000	582,000
net cash from investment activities	-4,765,000	-4,650,000	-10,178,000	-10,178,000	-78,088,000	-7,032,000	-7,032,000	-3,953,000	-11,014,000	-8,559,000	-4,214,000	-15,124,000	-7,406,000	-2,301,000	-19,984,000	-14,791,000	-8,031,000	-12,720,000	-5,453,000	-4,900,000	-9,996,000	-1,150,000
cash flows from financing activities
short term credit from banking institutions	-49,000	-1,187,000	-611,000	-611,000	-34,000	-33,000	-33,000	-41,000	125,000	-7,000	399,000	-152,000	-146,000	-152,000	447,000	6,000		489,000	-21,000	53,000
acquisition of company shares
dividend paid	-7,759,000	-2,943,000	-9,748,000	-9,748,000	-15,097,000	-10,067,000	-10,067,000	-5,032,000	-17,613,000	-12,581,000	-4,193,000	-13,314,000	-9,749,000	-3,120,000	-14,729,000	-11,343,000	-4,423,000	-12,479,000	-9,585,000	-28,116,000	-21,782,000	1,000
dividend paid to non-controlling interests	-25,000						-972,000			-752,000			-617,000			-536,000		-1,233,000	-541,000	-1,019,000
net cash from financing activities	-7,833,000	-4,374,000	-11,168,000	-11,168,000	65,047,000	-11,072,000	-11,072,000	-5,498,000	-18,660,000	-13,340,000	-4,507,000	-14,406,000	-10,512,000	-3,889,000	-15,506,000	-11,873,000	-4,959,000	-13,337,000	-10,261,000	-29,115,000	-21,841,000	-3,096,000
effect of exchange rate changes on cash and cash equivalents	-202,000	800,000	1,116,000	1,116,000	-2,842,000	-2,594,000	-2,594,000	-257,000	1,229,000	652,000	1,105,000	1,039,000	1,284,000	562,000	-1,735,000	-171,000	-1,247,000	-855,000	-857,000	-1,117,000	970,000	1,065,000
net change in cash and cash equivalents	9,892,000
balance of cash and cash equivalents at beginning of period							36,906,000			31,087,000			27,016,000			38,418,000		29,453,000	29,453,000	35,270,000	46,674,000
balance of cash and cash equivalents at end of period																					39,806,000
share in losses (profit) of affiliated companies
capital gain on sale of property and equipment		54,000
increase in accounts receivable						-5,754,000	-5,754,000	-4,117,000		-5,517,000	-3,215,000			-6,569,000			-1,434,000
increase in accounts payable		1,090,000		-347,000	191,000	-1,863,000	-1,863,000	382,000	1,667,000		-1,143,000	4,836,000		2,480,000	-1,092,000		866,000	1,559,000	-1,158,000	584,000	-880,000	-2,130,000
gain in respect of trading marketable securities and other investments
increase in other current and non-current assets
loss in respect of marketable securities and other investments	22,000
decrease in inventories	775,000		2,005,000	2,005,000	-2,852,000	15,000	15,000		545,000		-865,000	-726,000	-148,000	32,000	251,000	388,000	660,000	3,060,000	2,484,000	-2,647,000	822,000
return from (investments in) long-term deposit
sale of marketable securities			1,454,000	1,454,000	24,046,000	24,046,000	24,046,000	2,344,000	3,424,000	2,119,000	1,179,000	3,615,000	1,858,000	1,858,000						70,000		1,338,000
repayment of long-term loan		-244,000
increase in funds in respect of employee rights upon
retirement, net of withdrawals
return from (investment in) affiliated and other companies
investment in long-term deposit
balance of cash and cash equivalents at beginning of the period			51,398,000	51,398,000	36,906,000	36,906,000		36,906,000	31,087,000		31,087,000	27,016,000		27,016,000	38,418,000		38,418,000
balance of cash and cash equivalents at end of the period			62,391,000	62,391,000	55,743,000	36,106,000	36,106,000	34,734,000	31,821,000	27,116,000	26,610,000	25,632,000	25,448,000	26,812,000	29,434,000	30,988,000	32,908,000	36,620,000	33,655,000	23,692,000
gain in respect of trading marketable securities						-341,000		-196,000			-30,000			-34,000
capital gain from sale of property and equipment
return of (investments in) affiliated and other companies
return of (investments in) long term deposit
repayment of long term loan
dividend paid to non-controlling interest			-809,000	-809,000	-1,517,000	-972,000		-425,000	-1,172,000		-713,000	-940,000		-617,000	-1,224,000		-536,000
net increase in cash and cash equivalents			10,993,000	10,993,000	18,837,000	-800,000	-800,000		734,000	-3,971,000		-1,384,000	-1,568,000		-8,984,000	-7,430,000	-5,510,000	7,167,000	4,202,000	-11,578,000	-6,868,000	6,460,000
share in losses of affiliated company
return of long term deposit
sale of investment in marketable securities
net income for the year
interest and exchange rate on long term credit
increase in obligation to purchase non-controlling interests			702,000
investment in affiliated company
investment in marketable securities					-22,618,000		-22,375,000		-6,607,000	-3,189,000		-2,076,000	-344,000
investments in (repayment of) long - term deposit
investments in other companies			-129,000	-129,000	-1,097,000	-897,000			-1,061,000
settlement of obligation to purchase non-controlling interests
balance of cash and cash equivalents at beginning of year
balance of cash and cash equivalents at end of year
losses in respect of trading marketable securities													-68,000			-204,000				-2,000
decrease (increase) in other current assets
investments in affiliated and other companies
investment in (sale of) marketable securities
proceeds from (investments in) deposits
acquisition of company shares purchased by a wholly owned subsidiary
net decrease in cash and cash equivalents								-2,172,000			-4,477,000			-204,000
increase in other current assets						-3,979,000	-3,979,000	-4,199,000		-5,811,000	-4,136,000			-3,230,000			-1,678,000	-715,000				-2,345,000
decrease (increase) in funds in respect of employee rights upon retirement, net of withdrawals
repayment of (investments in) long term deposit
sale of (investment in) marketable securities
purchase of treasury shares
loss (gains) in respect of trading marketable securities and other investments
increase in inventories								-570,000		-1,464,000
impairment of goodwill
impairment of other intangible assets
purchase of shares from non-controlling interests
interest and exchange rate differences on loans			31,000	31,000
share in losses (gains) of affiliated companies
increase in obligation for purchase non-controlling interests				702,000
net cash from investing activities
net increase/decrease in cash and cash equivalents
losses (gain) in respect of trading marketable securities				2,000	-321,000				-201,000			-95,000			-428,000		-89,000				-19,000
gain in respect of investments in other companies
decrease in other current assets			2,314,000	2,314,000	-5,265,000				-8,194,000			-9,080,000	-5,309,000		-85,000	-671,000			1,174,000	-6,772,000	-299,000
decrease (increase) in deferred revenues
purchase of shares from minority shareholders
investments in long term deposit
gain from measurement of previously held interests at acquisition date fair value
decrease in accounts receivable			4,558,000	4,558,000	-2,131,000				-8,908,000			-7,470,000	-7,078,000		-84,000	-867,000		-2,500,000	-3,871,000	-2,465,000	159,000
decrease in deferred revenues			-6,143,000	-6,143,000											-864,000
repayment of loans from affiliated companies
proceeds from (investments in) long - term deposit
acquisition of subsidiary
receipt of long-term credit from bank institution
investments in (return from) affiliated and other companies
interest on long term credit
loss (gains) in respect of trading marketable securities
decrease in other current and non-current assets
receipt of long term credit from bank institution
interest and exchange rate differences on long term credit
operating lease right-of-use assets			2,036,000	2,036,000
operating lease liabilities			-2,036,000	-2,036,000
capital gains on sale of property and equipment				14,000	107,000				-57,000	-61,000	-30,000	-18,000		-10,000	-10,000		-5,000
capital gains on acquisition of non-controlling interests					-14,677,000
increase in other current liabilities			-2,678,000	-2,678,000	2,465,000	2,854,000	2,854,000	353,000	535,000	-1,068,000	-1,872,000	3,988,000	675,000	748,000		150,000	-73,000	1,097,000	1,094,000	987,000	46,000
acquisitions of a subsidiary – appendix a					-68,969,000
investments in affiliated companies			-55,000	-55,000	-1,250,000	-1,250,000	-1,250,000		-97,000		-1,158,000	-7,181,000		-1,408,000	-4,639,000		-1,270,000
sale of (invest in) marketable securities
deposit					-175,000	-205,000		-91,000	132,000	38,000	2,000	16,000	52,000	-63,000	-321,000	-239,000	-160,000	317,000	313,000	-281,000	462,000	-7,000
proceeds from loans to affiliated companies					7,317,000		3,262,000		4,305,000	562,000
receipt (repayment) of long-term credit from banking institutions
loss in respect of trading marketable securities			2,000
share in gains of affiliated companies			1,971,000		-3,868,000	-2,224,000	-2,224,000	-687,000
capital losses on sale of property and equipment			14,000			69,000	69,000	52,000					-17,000			-7,000		7,000	9,000	21,000
decrease in long-term funds in respect of employee rights upon retirement, net of withdrawals			-956,000			153,000
proceed from long term deposit			-152,000	-152,000
proceeds from loans to affiliated company						3,262,000
revenue				146,850,000
gross profit				70,372,000
operation income				31,666,000
net income attribute to shareholders				20,302,000
adjusted ebitda				41,446,000
basic and diluted earnings per share				960
decrease in funds in respect of employee rights upon retirement, net of withdrawals				-956,000			153,000
decrease (increase) in long-term funds in respect of employee rights upon retirement, net of withdrawals
depreciation, amortization and impairment of goodwill
share in gains of affiliated company
capital (gain) losses on sale of property and equipment
capital gain on acquisition of non-controlling interests
repayment of long term credit
net cash from in financing activities
working capital (excluding cash and cash equivalents)
related parties
intangible assets
property and equipment
liability for employee rights upon retirement
goodwill
consideration paid by issues of treasury stock
other non-current assets
previous investments in acquired companies
deferred revenues
obligation to purchase non-controlling interests
net cash used to pay for the acquisition
receipt of long-term credit from banking institutions					81,695,000
depreciation amortization and impairment of goodwill						6,689,000		3,623,000	9,982,000		3,228,000	8,570,000		2,611,000	8,122,000		2,673,000
investments in marketable securities						-22,375,000		-2,294,000			-1,428,000			-344,000
gains in respect of trading marketable securities							-341,000			-67,000
investment in other companies							-897,000			-1,061,000
proceed from (invest in) long term deposit							-205,000
capital losses (gains) on sale of property and equipment
investments in (proceedings from) affiliated companies								2,145,000
increase(decrease) in other current liabilities
depreciation, amortization and impairment of goodwill and other intangibles
gain from sale of subsidiary
proceeds from (investment in) long - term deposit
sale of subsidiary
investment in affiliated companies										-97,000			-3,924,000			-1,783,000
investments in affiliated company
dividend payment to non-controlling interest
exchange differences on principal of deposit and loans																		229,000	130,000	-178,000
deposit in escrow																					603,000
acquisition of non-controlling interests
the accompanying notes are an integral part of the consolidated financial statements.
increase )decrease) in liability for employee rights upon retirement													713,000			290,000
losses (gains) in respect of trading marketable securities
decrease(increase) in accounts payable
net increase(decrease) in cash and cash equivalents
others																	170,000
increase(decrease) in deferred revenues
increase in funds in respect of employee rights upon retirement
net of withdrawals																				-498,000
subsidiary no longer consolidated
sale of (investment in) deposit
dividend payment
decrease in other current liabilities															-462,000
loss of sale of affiliated company
increase in funds in respect of employee rights upon retirement,
repayment of long term loans																		-114,000	-114,000	-33,000	-23,000
losses of sale affiliated company
write-off of account receivable in respect of sale of subsidiary
litigation obligation adjustment
proceeds from (investment in) short- term deposit
repayment of loan to a former employee																				355,000
company no longer consolidated
settlement of litigation obligation in connection with financing transaction
acquisition of non-controlling interest
loss from sale of affiliated company
write-off account receivable in respect of sale of subsidiary
litigation obligation
repayment of loan to former employee
settlements of litigation obligation in connection with financial transaction
intangible assets expenditures
adjustment of proceeds received from sale of subsidiary
intangible expenditures
exchange differences on principal of deposit and loan																					515,000
gains in respect of marketable securities
capital loses (gains) on sale of property and equipment																					-30,000
cash flows from investing activities
adjustment of proceeds received from the sale of subsidiary
net cash provided by (used in) investment activities
short-term credit from banking institutions ,net
settlement of litigation obligation in connection with financial transaction
acquisition of non- controlling interest
investments in available for sale marketable securities
sale of available for sale marketable securities
depreciation and amortization and impairment of goodwill																					8,804,000
short-term credit from banking institutions																					-36,000
receipt of long term loans from baking institutions
capital loses on sale of property and equipment
increase in other current liabilities and benefit from contingencies
investment in trading marketable securities
sale of trading marketable securities
write-off of an investment in other company
investment in subsidiary
proceeds from sale of subsidiary, net of direct related expenses
purchase of treasury stock
depreciation , amortization and impairment of goodwill
exchange differences on principal of marketable securities
increase in other current liabilities and provision for contingencies
acquisition of non controlling interest
receipt of long term loans from banking institutions
repayment of long terms loans
dividend paid to non controlling interest
decrease (increase) in inventories and contracts in process
decrease in other current liabilities and benefit from contingencies
decrease (increase)in inventories
gain from sale of subsidiary
decrease in inventories and contracts in process
purchase of intangible assets and non-controlling interest
investment in other company
investments in trading marketable securities
loan granted to former employee
proceeds from exercise of options by employees
purchase of company’s shares
stock-based compensation
minority interests in income of subsidiaries
increase in inventories and contracts in process
purchase of intangible assets and minority interest
loan granted to affiliated company
acquisition of additional interest in a subsidiary
repayment of long-term loans
proceeds from exercise of warrants
issuance of share capital
dividend paid to minority interest of a subsidiary
increase in funds in respect of employee rights upon retirement , net of withdrawals
receipt of long-term loans
proceeds from sale of company shares held by a subsidiary

Ituran Location and Control Ltd(NASDAQ:ITRN)

Ituran Location and Control Ltd
(NASDAQ:ITRN)