Aspen Group Ltd. is the Group's parent company. The Group specializes in income-yielding real estate in Israel, Germany, Switzerland and Holland, develops residential and vacation properties and builds solar energy systems.
Line of Business:
Income-yielding real estate in Israel and abroad acquiring, leasing, improving, selling and managing of income-producing assets; development of vacation and residential properties
The Group comprises the following main subsidiariess: Aspen Properties (1990) Ltd., Aspen Real Estate Investments B.V. and a number of other subsidiaries in Israel and abroad.
Until February 6, 2012, the group also included Aspen Real Estate Ltd., which merged into the parent company and ceased to exist.
Aspen Group Ltd. is traded on the Tel Aviv Stock Exchange (TASE).
Facts & Figures – Successes and Achievements
• The Group holds a total of approximately 373,000 sq.m. of high income-yielding assets in Israel and abroad.
• Assets are leased to more than 300 tenants in Israel and Europe, at 88% occupancy rates.
• During the last three years Aspen has grown by more than 25%.
• Management and leasing income have increased from NIS 44 million in 2007 to NIS 112 million in 2011.
• The Group's total revenue for 2011 amounted to NIS 113 million.
• The Group's balance sheet statement for 2011 showed a balance of NIS 1.8 billion.
• The group's equity capital totals NIS 371 million.
Expansion since 2010
From 2010 until the end of 2011 Aspen purchased income yielding assets totaling NIS 366 million.
Germany: Hamburg (space: 11,500 sq.m, cost: NIS 18 million), NIESTETAL (space: 2,140 sq.m, cost: NIS 14.5 million), KIRSCHBERG (space: 3,968 sq.m, cost: NIS 24 million), Bruhl (space: 7,750 sq.m, cost: NIS 68 million), Frankfurt (Space: 2,400 sq.m, cost: NIS 21 million).
Switzerland: Biel (space 9,300 sq.m, cost: NIS 88 million).
Holland: Zwolle (space: 26,636 sq.m, cost: NIS 90 million).
Israel: Petah Tikvah (space: 3,950 sq.m, cost: NIS 16 million), Nazareth – Har Yona (space: 8,023, cost: NIS 26 million).
Control and Management
The Group's controlling shareholder businessman Rony Zarom holds a 49.19% stake in the Aspen Group Ltd. parent company directly and via Zarom Holding Limited. Remaining company shares are held by various institutional parties, such as the Bereshit Fund, Challenge Partners Fund, D.S. Apex Holdings, Menorah Mivtachim, Excellence Investments and the public. The Group's CEO Ilan Gifman, leads a professional management team and selected human capital.
Aspen's success in Israel and Europe are the result of a consistent strategy, the highlights of which are: Activities in strong and stable countries • Broad geographic acquisition of high yielding properties • Long term, broad sector leasing of business oriented assets from highly reputable leasers • Creation of new growth engines in Israel and abroad.
Aspen's financial management is based on achieving high yields while adhering to principles of responsibility and business acumen, maintaining the company's NIS 69 million liquidity and NIS 371 million equity (as of 31.12.2011), knowledge of the funding parties prior to acquisition and promise of free cash flow following payment of principal and interest. Aspen strives to include investors in its dividend distribution policy.
Midroog Ltd. (A Subsidiary of MOODY'S) has reaffirmed the A3 rating of the company's debentures, confirming a stable outlook.
Aspen Group chose to invest in solar energy electricity production. Aspen has 13 operational solar facilities in Israel and is in the final phase of building a medium sized solar facility in Italy with an output of 1 megawatt.
With the development of quotas for new licenses to produce solar energy electricity in Israel, the Group is expected to build new installations.
Contribution to the Community
Aspen is a member of Maala- Business for Social Responsibility and was given a gold ranking in 2011.
ATTORNEYS Shimonov, Rozenbuch & Co; Goldman, Erlich, Edelstein & Co. ACCOUNTANTS Deloitte Brightman Almagor Zohar; BDO Ziv Haft
ADDRESS 20 Lincoln St., Tel Aviv 67134 TEL 972-3-5652222 FAX 972-3-5652225 E-MAIL email@example.com WEBSITE www.aspen.co.il