Fact Sheet

Palestine Development and Investment Company (PADICO HOLDING)

Financial Summary for 2014

Item USD million
Total Assets 831.84
Total Equity 535.17
Paid-In-Capital 250.00
Total Consolidated Revenues 110.95
Subsidiaries Operating Income 70.46
Total Consolidated Expenses 90.03
Net Consolidated Profit 19.20

     

PADICO HOLDING’s most notable investments include: PALTEL Group (32% ownership), Palestine Real Estate Investment Company (71%), Palestine Industrial Investment Company (57%), Jerusalem Development & Investment Company (100%) Palestine Exchange (76%), and Palestine Poultry Company (89%).

Corporate Strategy

PADICO HOLDING’s future outlook focuses on improving the performance of current investments, in addition to exploiting opportunities in new economic sectors. The company has successfully completed a major restructuring plan, consolidating existing investments in the tourism, real estate, industrial, and financial sectors into specialized holdings. This has streamlined PADICO HOLDING’s corporate structure and improved the efficiency of the company’s operations. The company is also identifying new business opportunities in the infrastructure and environment sectors, particularly in the fields of power generation, water resources management, waste-water treatment, and solid waste recycling.

In 2011, PADICO HOLDING became the first Palestinian company to issue corporate bonds, which enjoyed tremendous demand by banks and financial institutions. The value of subscription reached USD $ 85 million, marking a USD 15 million surplus on top of the USD 70 million original initial offering. Ten banks and financial institutions subscribed to PADICO HOLDING-issued corporate bonds. These included the Palestine Monetary Authority (PMA), Arab Bank, Bank of Palestine, Cairo-Amman Bank, Union Bank, Capital Bank, Alrafah Microfinance Bank, Jordan-Kuwait Bank, Bank of Jordan, and the Commercial Bank of Palestine. Based on the bond prospectus, corporate bonds were entirely allocated for the interest of subscribing banks. The successful issuance reflects PADICO HOLDING’s strength, solvent financial position, and positive projections of its future performance. Accordingly, the company expects to be capable of repaying bonds on their maturity date in five years. The success of the corporate bond issuance demonstrates a deep trust and confidence in PADICO HOLDING on the part of both private corporations and official authorities, especially given the political and economic uncertainty in Palestine and the region.

 

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