Reported Earnings • Jun 01
First quarter 2026 earnings released: ₪0.29 loss per share (vs ₪0.46 loss in 1Q 2025) First quarter 2026 results: ₪0.29 loss per share (improved from ₪0.46 loss in 1Q 2025). Revenue: ₪55.3m (up 62% from 1Q 2025). Net loss: ₪2.21m (loss narrowed 38% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • May 09
Duniec Bros. Ltd(TASE:DUNI) dropped from TA-125 Index Duniec Bros. Ltd. has been dropped from the TA-125 Index. Reported Earnings • Mar 30
Full year 2025 earnings released: ₪1.54 loss per share (vs ₪3.93 profit in FY 2024) Full year 2025 results: ₪1.54 loss per share (down from ₪3.93 profit in FY 2024). Revenue: ₪166.6m (down 4.7% from FY 2024). Net loss: ₪11.9m (down 139% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Jan 12
Migdal Insurance and Financial Holdings Ltd. (TASE:MGDL) acquired an additional 2.71% stake in Duniec Bros. Ltd (TASE:DUNI) for ILS 56 million. Migdal Insurance and Financial Holdings Ltd. (TASE:MGDL) acquired an additional 2.71% stake in Duniec Bros. Ltd (TASE:DUNI) for ILS 56 million on January 7, 2026. Before completion, Migdal Insurance and Financial Holdings Ltd. held 5.75% stake in Duniec Bros. Ltd. After completion, Migdal Insurance and Financial Holdings Ltd. now holds 8.46% stake in Duniec Bros. Ltd
Migdal Insurance and Financial Holdings Ltd. (TASE:MGDL) completed the acquisition of an additional 2.71% stake in Duniec Bros. Ltd (TASE:DUNI) on January 7, 2026. B New Risk • Dec 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Israeli stocks, typically moving 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 37% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Large one-off items impacting financial results. Reported Earnings • Nov 30
Third quarter 2025 earnings released: ₪0.70 loss per share (vs ₪0.41 loss in 3Q 2024) Third quarter 2025 results: ₪0.70 loss per share (further deteriorated from ₪0.41 loss in 3Q 2024). Revenue: ₪36.1m (down 26% from 3Q 2024). Net loss: ₪5.35m (loss widened 70% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: ₪0.16 (vs ₪0.26 loss in 2Q 2024) Second quarter 2025 results: EPS: ₪0.16 (up from ₪0.26 loss in 2Q 2024). Revenue: ₪41.2m (up 7.3% from 2Q 2024). Net income: ₪1.43m (up ₪3.40m from 2Q 2024). Profit margin: 3.5% (up from net loss in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Announcement • Jul 24
Duniec Bros. Ltd, Annual General Meeting, Sep 02, 2025 Duniec Bros. Ltd, Annual General Meeting, Sep 02, 2025. Location: co. offices, Israel New Risk • Jul 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Israeli stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 31% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Large one-off items impacting financial results. Reported Earnings • May 31
First quarter 2025 earnings released: ₪0.46 loss per share (vs ₪0.79 profit in 1Q 2024) First quarter 2025 results: ₪0.46 loss per share (down from ₪0.79 profit in 1Q 2024). Revenue: ₪34.2m (down 52% from 1Q 2024). Net loss: ₪3.56m (down 158% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Announcement • Apr 01
Duniec Bros. Ltd announces Annual dividend, payable on April 22, 2025 Duniec Bros. Ltd. announced Annual dividend of ILS 1.6720 per share payable on April 22, 2025, ex-date on April 06, 2025 and record date on April 06, 2025. Announcement • Dec 02
Duniec Bros. Ltd, Annual General Meeting, Jan 06, 2025 Duniec Bros. Ltd, Annual General Meeting, Jan 06, 2025. Location: co. offices, Israel Reported Earnings • Dec 01
Third quarter 2024 earnings released: ₪0.41 loss per share (vs ₪0.25 profit in 3Q 2023) Third quarter 2024 results: ₪0.41 loss per share (down from ₪0.25 profit in 3Q 2023). Revenue: ₪48.7m (down 38% from 3Q 2023). Net loss: ₪3.15m (down 264% from profit in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 112 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 31
Second quarter 2024 earnings released: ₪0.26 loss per share (vs ₪0.04 loss in 2Q 2023) Second quarter 2024 results: ₪0.26 loss per share (further deteriorated from ₪0.04 loss in 2Q 2023). Revenue: ₪38.4m (down 62% from 2Q 2023). Net loss: ₪1.97m (loss widened ₪1.70m from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 31
Full year 2023 earnings released: ₪0.46 loss per share (vs ₪10.04 profit in FY 2022) Full year 2023 results: ₪0.46 loss per share (down from ₪10.04 profit in FY 2022). Revenue: ₪308.4m (up 49% from FY 2022). Net loss: ₪3.52m (down 105% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 30
Third quarter 2023 earnings released: EPS: ₪0.25 (vs ₪0.17 in 3Q 2022) Third quarter 2023 results: EPS: ₪0.25 (up from ₪0.17 in 3Q 2022). Revenue: ₪78.6m (down 14% from 3Q 2022). Net income: ₪1.92m (up 87% from 3Q 2022). Profit margin: 2.4% (up from 1.1% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Nov 29
Duniec Bros. Ltd, Annual General Meeting, Dec 19, 2023 Duniec Bros. Ltd, Annual General Meeting, Dec 19, 2023, at 14:00 Israel Standard Time. Reported Earnings • Sep 02
Second quarter 2023 earnings released: ₪0.04 loss per share (vs ₪13.10 profit in 2Q 2022) Second quarter 2023 results: ₪0.04 loss per share (down from ₪13.10 profit in 2Q 2022). Revenue: ₪100.7m (up 267% from 2Q 2022). Net loss: ₪276.0k (down 100% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. New Risk • Jun 23
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.9x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 116% Paying a dividend despite having no free cash flows. Minor Risk Large one-off items impacting financial results. New Risk • Jun 18
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 107% Paying a dividend despite having no free cash flows. High level of non-cash earnings (24% accrual ratio). Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Reported Earnings • Jun 03
First quarter 2023 earnings released: EPS: ₪0.06 (vs ₪0.14 in 1Q 2022) First quarter 2023 results: EPS: ₪0.06 (down from ₪0.14 in 1Q 2022). Revenue: ₪92.8m (up 418% from 1Q 2022). Net income: ₪465.0k (down 33% from 1Q 2022). Profit margin: 0.5% (down from 3.9% in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Reported Earnings • Apr 01
Full year 2022 earnings released Full year 2022 results: Revenue: ₪207.2m (down 40% from FY 2021). Net income: ₪64.8m (down 23% from FY 2021). Profit margin: 31% (up from 25% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₪167, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 15x in the Consumer Durables industry in Israel. Total returns to shareholders of 138% over the past three years. Reported Earnings • Dec 01
Third quarter 2022 earnings released: EPS: ₪0.13 (vs ₪0.54 in 3Q 2021) Third quarter 2022 results: EPS: ₪0.13 (down from ₪0.54 in 3Q 2021). Revenue: ₪91.2m (up 286% from 3Q 2021). Net income: ₪1.03m (down 54% from 3Q 2021). Profit margin: 1.1% (down from 9.6% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. External Independent Director Ilana Kushnir was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 25% share price gain to ₪193, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 8x in the Real Estate industry in Israel. Total returns to shareholders of 226% over the past three years. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. External Independent Director Ilana Yehezkel was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: ₪20.04 (vs ₪9.34 in FY 2020) Full year 2021 results: EPS: ₪20.04 (up from ₪9.34 in FY 2020). Revenue: ₪343.0m (up 73% from FY 2020). Net income: ₪84.6m (up 134% from FY 2020). Profit margin: 25% (up from 18% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 15% share price gain to ₪233, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 13x in the Real Estate industry in Israel. Total returns to shareholders of 334% over the past three years. Upcoming Dividend • Jan 24
Upcoming dividend of ₪12.00 per share Eligible shareholders must have bought the stock before 31 January 2022. Payment date: 13 February 2022. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 6.4%. Within top quartile of Israeli dividend payers (5.3%). Higher than average of industry peers (2.0%). Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₪191, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 17x in the Real Estate industry in Israel. Total returns to shareholders of 321% over the past three years. Reported Earnings • Dec 02
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: ₪0.54 (down from ₪2.24 in 3Q 2020). Revenue: ₪23.6m (down 59% from 3Q 2020). Net income: ₪2.26m (down 74% from 3Q 2020). Profit margin: 9.6% (down from 15% in 3Q 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 11
Upcoming dividend of ₪2.00 per share Eligible shareholders must have bought the stock before 18 April 2021. Payment date: 02 May 2021. Trailing yield: 2.5%. Lower than top quartile of Israeli dividend payers (5.2%). Lower than average of industry peers (2.9%). Reported Earnings • Mar 27
Full year 2020 earnings released: EPS ₪9.34 (vs ₪14.96 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ₪198.1m (down 15% from FY 2019). Net income: ₪36.2m (down 38% from FY 2019). Profit margin: 18% (down from 25% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 24
New 90-day low: ₪105 The company is down 17% from its price of ₪126 on 26 November 2020. The Israeli market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 2.0% over the same period. Announcement • Jan 08
Jacob Donitz completed the acquisition of an additional 4.99% stake in Duniec Bros. Ltd. (TASE : DUNI). Jacob Donitz made an offer to acquire additional 4.99% stake in Duniec Bros. Ltd. (TASE : DUNI) for ILS 19.6 million December 17, 2020. Under the terms, 0.19 million shares will be acquired at a price of ILS 100 per share. Jacob Donitz already holds 18.87% stake in Duniec. Acceptance notices are to be delivered until January 7, 2020.
Jacob Donitz completed the acquisition of an additional 4.99% stake in Duniec Bros. Ltd. (TASE : DUNI) on January 7, 2021. Valuation Update With 7 Day Price Move • Nov 17
Market bids up stock over the past week After last week's 26% share price gain to ₪126, the stock is trading at a trailing P/E ratio of 13.2x, up from the previous P/E ratio of 10.4x. This compares to an average P/E of 12x in the Real Estate industry in Israel. Total returns to shareholders over the past three years are 87%. Is New 90 Day High Low • Nov 12
New 90-day high: ₪100 The company is up 2.0% from its price of ₪98.62 on 13 August 2020. The Israeli market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 15% over the same period.