Business Summary: Formula Systems (1985) Ltd. (Formula) is a global information technology (IT) solutions and services holding company. The Company, through its directly held subsidiary and affiliated companies, is engaged in providing software solutions and services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration. The Company operates through two segments: software services and IT professional services. The software services segment develops markets, sells and supports an application platform, software applications, business and process integration solutions, and related services. The IT professional services segment offers IT services in the areas of infrastructure design and delivery, application development, technology planning and implementation services, communications services and solutions, as well as supplemental outsourcing services.
Financial Summary: BRIEF: For the fiscal year ended 31 December 2024, Formula Systems 1985 Ltd (ADR) revenues increased 5% to $2.76B. Net income increased 24% to $79.7M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income benefited from Equity Earnings Net of Income Tax increase from $773K to $2.1M (earnings). Dividend per share decreased from $1.24 to $0.62.