{"id":529587,"date":"2021-08-19T06:24:32","date_gmt":"2021-08-19T10:24:32","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/formula-systems-reports-second-quarter-2021-financial-results-record-breaking-results-with-double-digit-growth-across-all-key-financial-indices\/"},"modified":"2021-08-19T06:24:32","modified_gmt":"2021-08-19T10:24:32","slug":"formula-systems-reports-second-quarter-2021-financial-results-record-breaking-results-with-double-digit-growth-across-all-key-financial-indices","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/formula-systems-reports-second-quarter-2021-financial-results-record-breaking-results-with-double-digit-growth-across-all-key-financial-indices\/","title":{"rendered":"Formula Systems Reports Second Quarter 2021 Financial Results: Record-Breaking Results with Double Digit Growth Across All Key Financial Indices"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">OR YEHUDA, Israel, Aug.  19, 2021  (GLOBE NEWSWIRE) &#8212; Formula Systems (1985) Ltd. (NASDAQ: FORTY), a global information technology holding company engaged, through its subsidiaries and affiliates, in providing software consulting services and computer-based business solutions and developing proprietary software products, today announced its results for the second quarter and six months-period ended June 30,\u00a02021.<\/p>\n<p align=\"justify\">\n        <strong>Financial Highlights for the Second Quarter Ended June 30, 2021 <\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>Consolidated revenues for the second quarter ended June 30, 2021 increased by 34.5% to a record breaking $587.9\u00a0million compared to $437.1 million in the same period last year. <br \/>\u00a0<\/li>\n<li>Consolidated operating income for the second quarter ended June 30, 2021 increased by 24.1% to a record breaking $50.5 million, with growth recorded across Formula\u2019s entire investment portfolio, compared to $40.7 million in the same period last year. <br \/>\u00a0<\/li>\n<li>Consolidated net income attributable to Formula\u2019s shareholders for the second quarter ended June 30, 2021 increased by 18.7% to a record breaking $13.3\u00a0million, or $0.86 per fully diluted share, compared to $11.2\u00a0million, or $0.73 per fully diluted share, in the same period last year.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Financial Highlights for the Six Months-Period Ended June 30, 2021 <\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>Consolidated revenues for the first half ended June 30, 2021 increased by 28.5% to $1,160.5\u00a0million, with growth recorded across Formula\u2019s entire investment portfolio. Revenues for the first half ended June 30, 2020 amounted to $903.3\u00a0million. <br \/>\u00a0<\/li>\n<li>Consolidated operating income for the first half ended June 30, 2021 increased by 23.2% to $98.0 million, with growth recorded across Formula\u2019s entire investment portfolio. Consolidated operating income for the first half ended June 30, 2020 amounted to $79.5\u00a0million. <br \/>\u00a0<\/li>\n<li>Consolidated net income attributable to Formula\u2019s shareholders for the first half ended June 30, 2021 was $25.8\u00a0million, or $1.66 per fully diluted share, compared to $22.3\u00a0million, or $1.44 per fully diluted share, in the same period last year, reflecting an increase of 15.7% year over year. <br \/>\u00a0<\/li>\n<li>As of June 30, 2021, Formula held 48.9%, 43.9%, 45.5%, 100%, 50%, 90.1%, 80% and 100% of the outstanding ordinary shares of Matrix IT Ltd., Sapiens International Corporation N.V, Magic Software Enterprises Ltd., Michpal Micro Computers (1983) Ltd., TSG IT Advanced Systems Ltd., Insync Staffing Solutions, Inc., Ofek Aerial Photography Ltd. and ZAP Group Ltd., respectively. <br \/>\u00a0<\/li>\n<li>Consolidated cash and cash equivalents, short-term bank deposits and investments in marketable securities totaled approximately $468.2\u00a0million as of June 30, 2021, compared to $533.2 million as of December 31, 2020. <br \/>\u00a0<\/li>\n<li>Total equity as of June 30, 2021 was $1,127.4\u00a0million (representing 43.6% of the total consolidated balance sheet), compared to $1,108.5 million (representing 44.0% of the total consolidated balance sheet) as of December 31, 2020.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Declaration of Dividend for the First Half of 2021<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>Based on the Company\u2019s semi-annual results, the Company\u2019s board of directors approved a cash dividend in the amount of NIS 2.53 per share (approximately $0.78 per share) and in the aggregate amount of approximately NIS 38.7 million (approximately $12.0 million). <br \/>\u00a0<\/li>\n<li>The dividend is payable on September 22, 2021 to all of the Company\u2019s shareholders of record at the close of trading on the NASDAQ Global Select Market (or the Tel-Aviv Stock Exchange, as appropriate) on September 1, 2021. The dividend will be paid in New Israeli Shekel with respect to the ordinary shares of Formula Systems (1985) Ltd. that are traded on the Tel Aviv Stock Exchange and the American Depositary Receipts of Formula Systems that are traded on the NASDAQ Global Select Market<\/li>\n<\/ul>\n<p align=\"justify\">In accordance with Israeli tax law, the dividend is subject to withholding tax at source at the rate of 30% (if the recipient of the dividend is at the time of distribution or was at any time during the preceding 12-month period the holder of 10% or more of the Company&#8217;s share capital) or 25% (for all other dividend recipients) of the dividend amount payable to each shareholder of record, subject to applicable exemptions.<\/p>\n<p align=\"justify\">\n        <strong>Debentures Covenants<\/strong>\n      <\/p>\n<p>As of June 30, 2021, Formula was in compliance with all of its financial covenants under the debenture series issued by Formula, based on the following achievements:<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>Covenant 1<\/u><br \/>\n        <\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>Target equity attributable to Formula\u2019s shareholders (excluding non-controlling interests): above $215 million. <br \/>\u00a0<\/li>\n<li>Actual equity attributable to Formula\u2019s shareholders is equal to $517.5 million.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>Covenant 2 <\/u><br \/>\n        <\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>Target ratio of net financial indebtedness to net capitalization (in each case, as defined under the indenture for Formula\u2019s Series A and C Secured Debentures): below 65%. <br \/>\u00a0<\/li>\n<li>Actual ratio of net financial indebtedness to net capitalization is equal to 9.0%.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>Covenant 3<\/u><br \/>\n        <\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>Target ratio of net financial indebtedness to EBITDA (based on the accumulated calculation for the four recent quarters): below 5. <br \/>\u00a0<\/li>\n<li>Actual ratio of net financial indebtedness to EBITDA (based on the accumulated calculation for the four recent quarters) is equal to 0.38.<\/li>\n<\/ul>\n<p align=\"start\">\n        <strong>Comments of Management<\/strong>\n      <\/p>\n<p align=\"justify\">Commenting on the results, Guy Bernstein, CEO of Formula Systems, said: \u201cWe are very pleased to continue our strong momentum recorded across our entire investment portfolio reaching all-time second quarter highs across all of our key indices (revenues, gross profit, operating income, EBITDA and net income). Our strong second quarter financial results recorded across all our key financial indices reflects our continued focus on the execution of our growth strategy. We continue our efforts across our entire portfolio to adhere to our core values of innovation, professionalism, agility and transparency which allow us to continue our growth and protect our leading position.\u201d<\/p>\n<p align=\"justify\">\u201cMatrix reported its best second quarter in history with record-breaking results recorded across all its key financial indices. We are pleased with Matrix\u2019s continued recognition as a market leader in the implementation of fastest-growing technologies, such as cloud, cyber, digital, data, AI and MA which enables the company to create significant value for its customers in managing, streamlining, accelerating and making their businesses thrive. There is a strong demand in Israel for software services in digital, cloud, cyber, data, and core operating systems\u2014areas where Matrix significantly increased its strength during the COVID-19 period, and which are in the center of the IT market demand. Matrix is involved in projects for large organizations and in national projects of the Israeli government and the security sector, such as the Nimbus project, which is expected to accelerate the implementation of cloud technology in Israel\u2019s public sector.\u201d<\/p>\n<p align=\"justify\">\u201cSapiens reported all time high Non-GAAP revenues of $115 million, 24% higher than in the same period last year and strong Non-GAAP operating margin of 17.2%, improving by 80 basis points, compared to the same period last year. The results demonstrate how well Sapiens is executing its proven \u201cLand and Expand\u201d strategy, which enables it to grow in the highly regulated and regionally diverse global insurance markets and validate its operating leverage. This unique value proposition enables insurers to benefit from Sapiens pre-integrated, cloud-first, low-code \u201cinsurance-in-a-box\u201d approach across the majority of its products, empowering them to choose between deploying Sapiens end-to-end solution, or any combination of its components, to meet their evolving needs. Sapiens increased its revenue guidance for the second time this year, to a range of $461 to $466 million from its prior range of $459 to $464 million and increased its operating margin guidance to a range of 17.2% to 17.5% from its prior range 17.0% to 17.4%.\u201d<\/p>\n<p align=\"justify\">\u201cMagic Software\u2019s solid execution in the second quarter delivering double-digit growth across all key financial indices (revenues, gross profit, operating income, net income and EBITDA), with record-breaking revenues reaching $119 million and record breaking operating income, demonstrate the important role Magic Software plays in its customers\u2019 lifecycles and transformative journeys, as well as the success of its strategy to build a broad business portfolio that creates value for its customers in managing, streamlining, accelerating and maximizing their businesses. Magic increased its 2021 revenue guidance for the second time this year to a range of $450 to $460 million from its prior range of $425 to $435 million.\u201d<\/p>\n<p align=\"justify\">\u201cMichpal Group continues to realize synergies and monetize on its business model with its revenues, growing by 35% year over year to ILS 50 million for the first half of 2021, with 67% accounted to organic growth. Michpal Group is well positioned to continue helping its customers to adjust to the ever-changing governmental labor guidelines.\u201d<\/p>\n<p align=\"justify\">\u201cTSG (held equally by Formula and Israel Aerospace Industries) also concluded the first half of 2021 on a high note, with solid revenues and a 77% increase in operating income. In addition, and following the R&amp;D efforts invested jointly with the Belinson healthcare campus, the integration of TSG AI prediction system of patient deterioration of COVID -19 was successfully finalized during the first half of 2021 and achieved impressive results.\u201d<\/p>\n<p align=\"justify\">\u201cLastly, we are very pleased to include for the first time the results of Zap Group, a leading group of consumer sites in Israel and a well-reputable brand in the Israeli market, offering a wide range of solutions in the field of advertising, website promotion and targeted mailing. During these past months we\u2019ve been focusing together with Zap\u2019s management on the integration of Zap Group and on building a long-term strategy plan to accelerate its growth including the formation of potential business partnerships in order to expand Zap\u2019s products and services offerings as well as reaching new customers. we will remain focused on the successful integration of Zap Group and continue to carefully explore additional M&amp;A opportunities.\u201d<\/p>\n<p align=\"justify\">\n        <strong>Stand-Alone Financial Measures<\/strong>\n      <\/p>\n<p align=\"justify\">This press release presents, further below, certain stand-alone financial measures to reflect Formula\u2019s stand-alone financial position in reference to its assets and liabilities as the parent company of the group. These financial measures are prepared consistent with the accounting principles applied in the consolidated financial statements of the group. Such measures include investments in subsidiaries and a jointly controlled entity measured at cost adjusted by Formula\u2019s share in the investees\u2019 accumulated undistributed earnings and other comprehensive income or loss.<\/p>\n<p align=\"justify\">Formula believes that these financial measures provide useful information to management and investors regarding Formula\u2019s stand-alone financial position. Formula\u2019s management uses these measures to compare the Company\u2019s performance to that of prior periods for trend analyses. These measures are also used in financial reports prepared for management and in quarterly financial reports presented to the Company\u2019s board of directors. The Company believes that the use of these stand-alone financial measures provides an additional tool for investors to use in evaluating Formula\u2019s financial position.<\/p>\n<p align=\"justify\">Management of the Company does not consider these stand-alone measures in isolation or as an alternative to financial measures determined in accordance with GAAP. Formula urges investors to review the consolidated financial statements which it includes in press releases announcing quarterly financial results, including this press release, and not to rely on any single financial measure to evaluate the Company\u2019s business or financial position.<\/p>\n<p align=\"start\">\n        <strong>About Formula<\/strong>\n      <\/p>\n<p align=\"justify\">Formula Systems, whose ordinary shares are traded on the Tel-Aviv Stock Exchange and ADSs are traded on the NASDAQ Global Select Market, is a global information technology holding company engaged, through its subsidiaries and affiliates, in providing software consulting services and computer-based business solutions and developing proprietary software products.<\/p>\n<p align=\"justify\">For more information, visit www.formulasystems.com.<\/p>\n<p align=\"justify\">Press Contact:<\/p>\n<p align=\"justify\">Formula Systems (1985) Ltd. <br \/> +972-3-5389487 <br \/> ir@formula.co.il<\/p>\n<p align=\"justify\">\n        <strong>Forward Looking Statements<\/strong><br \/>\n        <br \/> Certain matters discussed in this press release that are incorporated herein and therein by reference are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cplan\u201d and similar expressions. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the COVID-19 (coronavirus) pandemic, which may last longer than expected and materially adversely affect our results of operations\u037e the degree of our success in our plans to leverage our global footprint to grow our sales\u037e the degree of our success in integrating the companies that we have acquired through the implementation of our M&amp;A growth strategy\u037e the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and\/or profits from our potential new solutions\u037e our lengthy and complex sales cycles, which do not always result in the realization of revenues\u037e the degree of our success in retaining our existing customers or competing effectively for greater market share\u037e difficulties in successfully planning and managing changes in the size of our operations\u037e the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream\u037e the challenges and potential liability that heightened privacy laws and regulations pose to our business\u037e occasional disputes with clients, which may adversely impact our results of operations and our reputation\u037e various intellectual property issues related to our business\u037e potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers\u2019 systems\u037e risks related to the insurance industry in which our clients operate\u037e risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the recent novel coronavirus outbreak, or fluctuations in currency exchange rates\u037e and risks related to our principal location in Israel.<\/p>\n<p align=\"justify\">While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading \u201cRisk Factors\u201d in our most recent Annual Report on Form 20-F, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.<\/p>\n<p align=\"justify\">\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:57%;width:57%;min-width:57%;text-align: left;vertical-align: middle\">\n            <strong>FORMULA SYSTEMS (1985) LTD.<\/strong>\n          <\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%\">\u00a0<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%\">\u00a0<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%\">\u00a0<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"text-align: left;vertical-align: middle\">\n            <strong>CONSOLIDATED CONDENSED STATEMENTS OF PROFIT OR LOSS<\/strong>\n          <\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>U.S. dollars in thousands (except per share data)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle\">\n            <strong>Three months ended<\/strong>\n          <\/td>\n<td>\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle\">\n            <strong>Six months ended<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>June 30,<\/strong>\n          <\/td>\n<td>\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>June 30,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2020<\/strong>\n          <\/td>\n<td>\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2020<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Unaudited<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Unaudited<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Revenues <\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>587,875<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>437,064<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>1,160,518<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>903,334<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Cost of revenues<\/td>\n<td style=\"text-align: right;vertical-align: middle\">446,934<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">334,138<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">894,019<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">697,269<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Gross profit <\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>140,941<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>102,926<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>266,499<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>206,065<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Research and development costs, net<\/td>\n<td style=\"text-align: right;vertical-align: middle\">16,321<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">12,084<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">32,325<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">25,047<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Selling, marketing and general and administrative expenses<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">74,086<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">50,135<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">136,186<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">101,508<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Operating income <\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>50,534<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>40,707<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>97,988<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>79,510<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Financial expenses, net<\/td>\n<td style=\"text-align: right;vertical-align: middle\">5,940<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">5,627<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">11,043<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">10,271<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Income before taxes on income <\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>44,594<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>35,080<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>86,945<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>69,239<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Taxes on income<\/td>\n<td style=\"text-align: right;vertical-align: middle\">10,844<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">8,703<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">20,193<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">16,426<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Income after taxes<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>33,750<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>26,377<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>66,752<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>52,813<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Share of profit of companies accounted for at equity, net<\/td>\n<td style=\"text-align: right;vertical-align: middle\">431<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">218<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">661<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">347<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Net income <\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>34,181<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>26,595<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>67,413<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>53,160<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Net income attributable to non-controlling interests<\/td>\n<td style=\"text-align: right;vertical-align: middle\">20,846<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">15,363<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">41,659<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">30,907<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Net income attributable to Formula Systems&#8217; shareholders <\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>13,335<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>11,232<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>25,754<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>22,253<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Earnings per share (basic)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">0.87<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">0.74<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1.68<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1.46<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Earnings per share (diluted)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">0.86<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">0.73<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1.66<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1.44<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Number of shares used in computing earnings per share (basic)<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">15,289,267<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">15,285,517<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">15,289,267<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">15,285,100<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Number of shares used in computing earnings per share (diluted)<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">15,362,906<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">15,292,486<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">15,350,431<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">15,292,372<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>FORMULA SYSTEMS (1985) LTD.<\/strong>\n          <\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"text-align: left;vertical-align: middle\">\n            <strong>CONSOLIDATED STATEMENTS OF FINANCIAL POSITION<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>U.S. dollars in thousands<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:1%;width:1%;min-width:1%\">\u00a0<\/td>\n<td style=\"max-width:77%;width:77%;min-width:77%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>June 30,<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>December 31,<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2021<\/strong>\n          <\/td>\n<td>\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2020<\/strong>\n          <\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">(Unaudited)<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>\u00a0ASSETS<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>CURRENT ASSETS:<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Cash and cash equivalents<\/td>\n<td style=\"text-align: right;vertical-align: middle\">446,365<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">501,650<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Short-term deposits<\/td>\n<td style=\"text-align: right;vertical-align: middle\">20,612<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">30,289<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Marketable securities<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,211<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,238<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Trade receivables<\/td>\n<td style=\"text-align: right;vertical-align: middle\">576,241<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">519,885<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Other accounts receivable and prepaid expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle\">79,600<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">83,820<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Inventories<\/td>\n<td style=\"text-align: right;vertical-align: middle\">19,300<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">23,988<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>Total current assets<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,143,329<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,160,870<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>LONG-TERM ASSETS:<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Deferred taxes<\/td>\n<td style=\"text-align: right;vertical-align: middle\">42,440<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">39,750<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Other long-term accounts receivable and prepaid expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle\">28,670<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">22,872<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>Total long-term assets<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">71,110<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">62,622<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>INVESTMENTS IN COMPANIES ACCOUNTED\u00a0FOR AT EQUITY METHOD<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">28,956<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">28,311<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>PROPERTY, PLANTS AND EQUIPMENT, NET <\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">56,749<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">59,176<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>RIGHT-OF-USE ASSETS<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">105,133<\/td>\n<td>\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">114,414<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>NET INTANGIBLE ASSETS AND GOODWILL<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,181,000<\/td>\n<td>\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,094,687<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>TOTAL ASSETS<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">2,586,277<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">2,520,080<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>CURRENT LIABILITIES:<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Loans and credit from banks and others<\/td>\n<td style=\"text-align: right;vertical-align: middle\">156,581<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">120,444<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Debentures<\/td>\n<td style=\"text-align: right;vertical-align: middle\">37,890<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">41,454<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Current maturities of lease liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle\">31,997<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">32,065<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Trade payables<\/td>\n<td style=\"text-align: right;vertical-align: middle\">145,886<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">153,322<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Deferred revenues<\/td>\n<td style=\"text-align: right;vertical-align: middle\">142,492<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">128,898<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Other accounts payable<\/td>\n<td style=\"text-align: right;vertical-align: middle\">252,276<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">259,223<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Liabilities in respect of business combinations<\/td>\n<td style=\"text-align: right;vertical-align: middle\">5,118<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">8,654<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Put options of non-controlling interests<\/td>\n<td style=\"text-align: right;vertical-align: middle\">35,503<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">35,843<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>Total current liabilities<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">807,743<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">779,903<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>LONG-TERM LIABILITIES:<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Loans and credit from banks and others<\/td>\n<td style=\"text-align: right;vertical-align: middle\">159,519<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">180,316<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Debentures<\/td>\n<td style=\"text-align: right;vertical-align: middle\">226,000<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">203,070<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Lease liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle\">83,412<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">91,188<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Other long-term liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle\">15,458<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">12,191<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Deferred taxes<\/td>\n<td style=\"text-align: right;vertical-align: middle\">69,860<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">68,367<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Deferred revenues<\/td>\n<td style=\"text-align: right;vertical-align: middle\">19,640<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">16,626<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Liabilities in respect of business combinations<\/td>\n<td style=\"text-align: right;vertical-align: middle\">32,803<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">16,582<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Put options of non-controlling interests<\/td>\n<td style=\"text-align: right;vertical-align: middle\">29,875<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">28,175<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Employees benefit liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle\">14,536<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">15,119<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>Total long-term liabilities<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">651,103<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">631,634<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>EQUITY <\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Equity attributable to Formula Systems&#8217; shareholders<\/td>\n<td style=\"text-align: right;vertical-align: middle\">517,474<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">503,201<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Non-controlling interests<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">609,957<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">605,342<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>Total equity<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,127,431<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,108,543<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>TOTAL LIABILITIES AND EQUITY<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">2,586,277<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">2,520,080<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>FORMULA SYSTEMS (1985) LTD.<\/strong>\n          <\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>STAND-ALONE STATEMENTS OF FINANCIAL POSITION<\/strong>\n          <\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>U.S. dollars in thousands<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:2%;width:2%;min-width:2%\">\u00a0<\/td>\n<td style=\"max-width:76%;width:76%;min-width:76%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>June 30,<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>December 31,<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>2020<\/strong>\n          <\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">(Unaudited)<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">(Unaudited)<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>\u00a0ASSETS<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>CURRENT ASSETS:<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Cash and cash equivalents<\/td>\n<td style=\"text-align: right;vertical-align: middle\">24,449<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">47,852<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Other accounts receivable and prepaid expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle\">7,981<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">4,977<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>Total current assets<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">32,430<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">52,829<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>INVESTMENTS IN SUBSIDIARIES AND A JOINTLY CONTROLLED ENTITY (*)<\/strong>\n          <\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Matrix IT Ltd.<\/td>\n<td style=\"text-align: right;vertical-align: middle\">144,771<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">142,194<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Sapiens International Corporation N.V.<\/td>\n<td style=\"text-align: right;vertical-align: middle\">223,024<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">227,771<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Magic Software Enterprises Ltd.<\/td>\n<td style=\"text-align: right;vertical-align: middle\">118,944<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">118,105<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Other<\/td>\n<td style=\"text-align: right;vertical-align: middle\">181,868<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">90,359<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>Total Investments in subsidiaries and a jointly controlled entity<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">668,607<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">578,429<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>OTHER LONG TERM RECEIVABLES<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,683<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,707<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>PROPERTY, PLANTS AND EQUIPMENT, NET <\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">10<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>TOTAL ASSETS<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">702,730<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">632,967<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>CURRENT LIABILITIES:<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Debentures<\/td>\n<td style=\"text-align: right;vertical-align: middle\">16,426<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">21,652<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Trade payables<\/td>\n<td style=\"text-align: right;vertical-align: middle\">90<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">349<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Other accounts payable<\/td>\n<td style=\"text-align: right;vertical-align: middle\">3,607<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">2,329<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>Total current liabilities<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">20,123<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">24,330<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>LONG-TERM LIABILITIES:<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Debentures<\/td>\n<td style=\"text-align: right;vertical-align: middle\">147,065<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">104,394<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Put options of non-controlling interests<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,080<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,042<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Liability in respect of business combinations<\/td>\n<td style=\"text-align: right;vertical-align: middle\">16,988<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>Total long-term liabilities<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">165,133<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">105,436<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>EQUITY <\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">517,474<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">503,201<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: left;vertical-align: middle\">\n            <strong>TOTAL LIABILITIES AND EQUITY<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">702,730<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">632,967<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: top\">(*)<\/td>\n<td colspan=\"4\" style=\"text-align: left;vertical-align: middle\">The investments&#8217; carrying amounts are measured consistent with the accounting principles applied in the\u00a0\u00a0consolidated financial statements of the group and representing the investments\u2019 cost adjusted by Formula&#8217;s\u00a0share in the investees&#8217; accumulated undistributed earnings and other comprehensive income or loss.<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODMxMjAyOSM0MzY1MTAzIzUwMDA0ODM3NA==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/NjIzY2NkMzMtYjljMi00MjY2LWJlOGItMzU0MTQ5MGMwNzJiLTUwMDA0ODM3NA==\/tiny\/Formula-Systems-1985-Ltd-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>OR YEHUDA, Israel, Aug. 19, 2021 (GLOBE NEWSWIRE) &#8212; Formula Systems (1985) Ltd. (NASDAQ: FORTY), a global information technology holding company engaged, through its subsidiaries and affiliates, in providing software consulting services and computer-based business solutions and developing proprietary software products, today announced its results for the second quarter and six months-period ended June 30,\u00a02021. Financial Highlights for the Second Quarter Ended June 30, 2021 Consolidated revenues for the second quarter ended June 30, 2021 increased by 34.5% to a record breaking $587.9\u00a0million compared to $437.1 million in the same period last year. \u00a0 Consolidated operating income for the second quarter ended June 30, 2021 increased by 24.1% to a record breaking $50.5 million, with growth recorded across Formula\u2019s entire &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/formula-systems-reports-second-quarter-2021-financial-results-record-breaking-results-with-double-digit-growth-across-all-key-financial-indices\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Formula Systems Reports Second Quarter 2021 Financial Results: Record-Breaking Results with Double Digit Growth Across All Key Financial Indices&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-529587","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Formula Systems Reports Second Quarter 2021 Financial Results: Record-Breaking Results with Double Digit Growth Across All Key Financial Indices - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/formula-systems-reports-second-quarter-2021-financial-results-record-breaking-results-with-double-digit-growth-across-all-key-financial-indices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Formula Systems Reports Second Quarter 2021 Financial Results: Record-Breaking Results with Double Digit Growth Across All Key Financial Indices - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"OR YEHUDA, Israel, Aug. 19, 2021 (GLOBE NEWSWIRE) &#8212; Formula Systems (1985) Ltd. (NASDAQ: FORTY), a global information technology holding company engaged, through its subsidiaries and affiliates, in providing software consulting services and computer-based business solutions and developing proprietary software products, today announced its results for the second quarter and six months-period ended June 30,\u00a02021. Financial Highlights for the Second Quarter Ended June 30, 2021 Consolidated revenues for the second quarter ended June 30, 2021 increased by 34.5% to a record breaking $587.9\u00a0million compared to $437.1 million in the same period last year. \u00a0 Consolidated operating income for the second quarter ended June 30, 2021 increased by 24.1% to a record breaking $50.5 million, with growth recorded across Formula\u2019s entire &hellip; Continue reading &quot;Formula Systems Reports Second Quarter 2021 Financial Results: Record-Breaking Results with Double Digit Growth Across All Key Financial Indices&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/formula-systems-reports-second-quarter-2021-financial-results-record-breaking-results-with-double-digit-growth-across-all-key-financial-indices\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-19T10:24:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODMxMjAyOSM0MzY1MTAzIzUwMDA0ODM3NA==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"14 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/formula-systems-reports-second-quarter-2021-financial-results-record-breaking-results-with-double-digit-growth-across-all-key-financial-indices\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/formula-systems-reports-second-quarter-2021-financial-results-record-breaking-results-with-double-digit-growth-across-all-key-financial-indices\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Formula Systems Reports Second Quarter 2021 Financial Results: Record-Breaking Results with Double Digit Growth Across All Key Financial Indices\",\"datePublished\":\"2021-08-19T10:24:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/formula-systems-reports-second-quarter-2021-financial-results-record-breaking-results-with-double-digit-growth-across-all-key-financial-indices\\\/\"},\"wordCount\":2761,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/formula-systems-reports-second-quarter-2021-financial-results-record-breaking-results-with-double-digit-growth-across-all-key-financial-indices\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODMxMjAyOSM0MzY1MTAzIzUwMDA0ODM3NA==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/formula-systems-reports-second-quarter-2021-financial-results-record-breaking-results-with-double-digit-growth-across-all-key-financial-indices\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/formula-systems-reports-second-quarter-2021-financial-results-record-breaking-results-with-double-digit-growth-across-all-key-financial-indices\\\/\",\"name\":\"Formula Systems Reports Second Quarter 2021 Financial Results: Record-Breaking Results with Double Digit Growth Across All Key Financial Indices - 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