Reported Earnings • May 27
First quarter 2026 earnings released: US$0.13 loss per share (vs US$0.061 loss in 1Q 2025) First quarter 2026 results: US$0.13 loss per share (further deteriorated from US$0.061 loss in 1Q 2025). Revenue: US$33.8m (up 2.2% from 1Q 2025). Net loss: US$1.01m (loss widened 116% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Duyuru • May 27
Aviation Links Ltd, Annual General Meeting, Jul 02, 2026 Aviation Links Ltd, Annual General Meeting, Jul 02, 2026. Location: co. offices, Israel New Risk • Apr 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 31% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 126% Cash payout ratio: 97% Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₪143.3m market cap, or US$47.2m). Reported Earnings • Apr 04
Full year 2025 earnings released: EPS: US$0.56 (vs US$0.34 in FY 2024) Full year 2025 results: EPS: US$0.56 (up from US$0.34 in FY 2024). Revenue: US$207.5m (up 51% from FY 2024). Net income: US$4.32m (up 67% from FY 2024). Profit margin: 2.1% (up from 1.9% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • Nov 25
Third quarter 2025 earnings released: EPS: US$0.67 (vs US$0.40 in 3Q 2024) Third quarter 2025 results: EPS: US$0.67 (up from US$0.40 in 3Q 2024). Revenue: US$88.7m (up 42% from 3Q 2024). Net income: US$5.10m (up 65% from 3Q 2024). Profit margin: 5.8% (up from 4.9% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Reported Earnings • Aug 31
Second quarter 2025 earnings released: US$0.064 loss per share (vs US$0.021 profit in 2Q 2024) Second quarter 2025 results: US$0.064 loss per share (down from US$0.021 profit in 2Q 2024). Revenue: US$42.7m (up 23% from 2Q 2024). Net loss: US$493.0k (down 408% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Reported Earnings • May 29
First quarter 2025 earnings released: US$0.061 loss per share (vs US$0.062 loss in 1Q 2024) First quarter 2025 results: US$0.061 loss per share (improved from US$0.062 loss in 1Q 2024). Revenue: US$33.0m (up 163% from 1Q 2024). Net loss: US$465.0k (loss narrowed 1.7% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₪19.83, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 16x in the Hospitality industry in Israel. Total returns to shareholders of 175% over the past three years. New Risk • Apr 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 193% Cash payout ratio: 179% Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₪130.1m market cap, or US$35.7m). Duyuru • Mar 28
Aviation Links Ltd, Annual General Meeting, May 08, 2025 Aviation Links Ltd, Annual General Meeting, May 08, 2025. Location: company offices, Israel Reported Earnings • Mar 25
Full year 2024 earnings released: EPS: US$0.34 (vs US$0.79 in FY 2023) Full year 2024 results: EPS: US$0.34 (down from US$0.79 in FY 2023). Revenue: US$137.3m (down 39% from FY 2023). Net income: US$2.59m (down 57% from FY 2023). Profit margin: 1.9% (down from 2.7% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 30% per year. Buy Or Sell Opportunity • Mar 24
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to ₪18.32. The fair value is estimated to be ₪14.88, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Meanwhile, the company has become profitable. Board Change • Dec 24
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Independent Director Michal Ben-Mobar was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Dec 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.0% Last year net profit margin: 2.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (2.0% net profit margin). Market cap is less than US$100m (₪116.5m market cap, or US$32.5m). Reported Earnings • Nov 28
Third quarter 2024 earnings released: EPS: US$0.40 (vs US$0.73 in 3Q 2023) Third quarter 2024 results: EPS: US$0.40 (down from US$0.73 in 3Q 2023). Revenue: US$62.5m (down 46% from 3Q 2023). Net income: US$3.09m (down 45% from 3Q 2023). Profit margin: 4.9% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: US$0.021 (vs US$0.04 in 2Q 2023) Second quarter 2024 results: EPS: US$0.021 (down from US$0.04 in 2Q 2023). Revenue: US$34.8m (down 42% from 2Q 2023). Net income: US$160.0k (down 48% from 2Q 2023). Profit margin: 0.5% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Duyuru • Jun 18
Aviation Links Ltd, Annual General Meeting, Jul 11, 2024 Aviation Links Ltd, Annual General Meeting, Jul 11, 2024. Location: co. offices, Israel Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₪14.27, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 12x in the Hospitality industry in Israel. Total returns to shareholders of 51% over the past three years. Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: US$0.79 (vs US$0.81 in FY 2022) Full year 2023 results: EPS: US$0.79 (down from US$0.81 in FY 2022). Revenue: US$225.6m (flat on FY 2022). Net income: US$6.06m (down 2.7% from FY 2022). Profit margin: 2.7% (down from 2.8% in FY 2022). Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Mar 13
Now 21% undervalued Over the last 90 days, the stock has risen 17% to ₪12.40. The fair value is estimated to be ₪15.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 71% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Nov 30
Third quarter 2023 earnings released: EPS: US$0.73 (vs US$0.77 in 3Q 2022) Third quarter 2023 results: EPS: US$0.73 (down from US$0.77 in 3Q 2022). Revenue: US$115.4m (up 10.0% from 3Q 2022). Net income: US$5.60m (down 5.3% from 3Q 2022). Profit margin: 4.9% (down from 5.6% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₪10.66, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 12x in the Hospitality industry in Israel. Total returns to shareholders of 94% over the past three years. New Risk • Oct 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Israeli stocks, typically moving 8.5% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.5% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₪74.4m market cap, or US$18.3m). Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₪12.97, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 11x in the Hospitality industry in Israel. Total returns to shareholders of 149% over the past three years. Reported Earnings • Sep 02
Second quarter 2023 earnings released: EPS: US$0.04 (vs US$0.01 in 2Q 2022) Second quarter 2023 results: EPS: US$0.04 (up from US$0.01 in 2Q 2022). Revenue: US$60.4m (up 15% from 2Q 2022). Net income: US$306.0k (up 308% from 2Q 2022). Profit margin: 0.5% (up from 0.1% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jun 27
Now 22% undervalued Over the last 90 days, the stock is up 5.9%. The fair value is estimated to be ₪17.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Jun 04
First quarter 2023 earnings released: EPS: US$0.051 (vs US$0.025 loss in 1Q 2022) First quarter 2023 results: EPS: US$0.051 (up from US$0.025 loss in 1Q 2022). Revenue: US$44.2m (up 26% from 1Q 2022). Net income: US$391.0k (up US$601.0k from 1Q 2022). Profit margin: 0.9% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 11
Upcoming dividend of US$0.47 per share at 12% yield Eligible shareholders must have bought the stock before 18 April 2023. Payment date: 01 May 2023. Trailing yield: 12%. Within top quartile of Israeli dividend payers (7.5%). Higher than average of industry peers (1.1%). Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Director Cyclamen Kuperman was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 25
Full year 2022 earnings released: EPS: US$0.81 (vs US$0.25 loss in FY 2021) Full year 2022 results: EPS: US$0.81 (up from US$0.25 loss in FY 2021). Revenue: US$224.4m (up 317% from FY 2021). Net income: US$6.23m (up US$8.12m from FY 2021). Profit margin: 2.8% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 20% per year. Reported Earnings • Dec 02
Third quarter 2022 earnings released: EPS: US$0.77 (vs US$0.12 in 3Q 2021) Third quarter 2022 results: EPS: US$0.77 (up from US$0.12 in 3Q 2021). Revenue: US$104.9m (up 299% from 3Q 2021). Net income: US$5.91m (up US$5.00m from 3Q 2021). Profit margin: 5.6% (up from 3.5% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Sep 03
First half 2022 earnings released: US$0.05 loss per share (vs US$0.27 loss in 1H 2021) First half 2022 results: US$0.05 loss per share (up from US$0.27 loss in 1H 2021). Revenue: US$70.2m (up US$61.0m from 1H 2021). Net loss: US$420.0k (loss narrowed 79% from 1H 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 03
New 90-day high: ₪11.47 The company is up 35% from its price of ₪8.51 on 03 December 2020. The Israeli market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 20% over the same period. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improved over the past week After last week's 20% share price gain to US$11.47, the stock is trading at a trailing P/E ratio of 9.5x, up from the previous P/E ratio of 8x. This compares to an average P/E of 35x in the Hospitality industry in Asia. Total return to shareholders over the past three years is a loss of 22%. Is New 90 Day High Low • Jan 11
New 90-day high: ₪10.54 The company is up 80% from its price of ₪5.87 on 13 October 2020. The Israeli market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 33% over the same period. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 17% share price gain to US$9.96, the stock is trading at a trailing P/E ratio of 8.4x, up from the previous P/E ratio of 7.2x. This compares to an average P/E of 35x in the Hospitality industry in Asia. Total return to shareholders over the past three years is a loss of 20%. Valuation Update With 7 Day Price Move • Nov 18
Market bids up stock over the past week After last week's 24% share price gain to US$7.75, the stock is trading at a trailing P/E ratio of 6.3x, up from the previous P/E ratio of 5.1x. This compares to an average P/E of 33x in the Hospitality industry in Asia. Total return to shareholders over the past three years is a loss of 46%. Is New 90 Day High Low • Nov 17
New 90-day high: ₪6.66 The company is up 16% from its price of ₪5.75 on 19 August 2020. The Israeli market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Hospitality industry, which is up 24% over the same period. Is New 90 Day High Low • Nov 02
New 90-day high: ₪6.34 The company is up 15% from its price of ₪5.50 on 04 August 2020. The Israeli market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 13% over the same period.