FY 2012 - Investor Relations - NIS

RatiosReturn on total capital(Gross profit/total capital)Net return on equity*(Net profit/shareholders equity**)Operating net profit(operating profit/net sales income)Degree of leverage(short term and long term liabilities/total capital)Degree of leverage(short term and long term liabilities/shareholders equity***)1 st degree liquidity(cash and cash equivalents/short termliabilities)2009 2010 2011 2012 Δ (2012/2011)-122% 26% 45% 37% -17%-43% 19% 47% 57% 21%-2% 17% 24% 33% 36%108% 126% 149% 104% -30%291% 234% 150% 164% 10%16% 17% 51% 13% -74%WELLSWITH ALONGERLIFESPAN2 nd degree liquidity(working assets/stocks/short termliabilities)Net working fund ratio(current assets – current liabilities/current assets)48% 57% 107% 98% -8%-10% 11% 44% 41% -8%''Slim hole''for drilling smalldiameter wells.* equity = share capital + other capital** shareholders equity = share capital + other capital*** shareholders equity = share capital + other capitalThe advantage ofthis method is demonstratedin an easier, fasterand cheaper detection of smallreservoirs of oil and gas. The''slim hole'' method is also environmentally-friendlybecauseit occupies a smaller area ofland during the drillingprocess.74 • Business results analysis Annual report 2012Annual report 2012Business results analysis • 75