Core Points - Grupo Aeroportuario del Pacífico successfully completed the issuance of 56,481,343 long-term bond certificates in Mexico, totaling Ps. 5,648,134,300 with a five-year maturity [1][2] - The bond issuance, under the ticker symbol "GAP 24", will pay interest every 28 days at a variable rate of TIIE-28 plus 60 basis points, with principal due on August 30, 2029 [2] - Proceeds from the issuance will be used to pay off previous bond certificates "GAP 15" and to fund committed capital investments under the Master Development Program for 2024 [3] Company Overview - Grupo Aeroportuario del Pacífico operates 12 airports in Mexico's Pacific region, including major cities like Guadalajara and Tijuana, and tourist destinations such as Puerto Vallarta and Los Cabos [4] - The company was listed on the New York Stock Exchange in February 2006 and acquired a majority stake in MBJ Airports Limited in April 2015, which operates Sangster International Airport in Jamaica [4] - GAP entered into a concession agreement for the Norman Manley International Airport in Jamaica in October 2018 and took control of operations in October 2019 [4]

Core Insights - Formula Systems reported record-breaking revenues, operating income, and net income for the second quarter and first half of 2024, indicating strong financial performance and growth potential [2][3][14]. Financial Performance - Revenues for the second quarter ended June 30, 2024, increased by 1.9% to $667.7 million compared to $655.4 million in the same period last year. On a constant-currency basis, revenues would have increased by 3.5% to $678.3 million [2]. - Operating income for the second quarter increased by 8.4% to a record $65.0 million, compared to $60.0 million in the same period last year [3]. - Net income attributable to shareholders for the second quarter rose by 10.7% to $18.8 million, or $1.20 per fully diluted share, compared to $17.0 million, or $1.11 per fully diluted share, in the same period last year [3]. - For the first half of 2024, revenues increased by 3.0% to $1.37 billion, compared to $1.33 billion in the same period last year. On a constant currency basis, revenues would have increased by approximately 5.0% to $1.39 billion [4]. - Operating income for the first half increased by 5.7% to $127.6 million, compared to $120.8 million in the same period last year [5]. - Net income attributable to shareholders for the first half rose by 10.1% to $36.0 million, or $2.31 per fully diluted share, compared to $32.7 million, or $2.11 per fully diluted share, in the same period last year [5]. Cash and Equity Position - As of June 30, 2024, consolidated cash and cash equivalents totaled approximately $472.9 million, down from $528.2 million as of December 31, 2023 [7]. - Total equity as of June 30, 2024, was $1.3 billion, representing 49.1% of the total consolidated statements of financial position [7]. Dividend Declaration - The board of directors approved a cash dividend of NIS 2.32 per share (approximately $0.63 per share), totaling approximately NIS 35.6 million (approximately $9.6 million) [8][9]. Compliance and Financial Covenants - As of June 30, 2024, Formula was in compliance with all financial covenants under its debenture series, with actual equity attributable to shareholders at $644.0 million, exceeding the target of $215 million [11]. - The actual ratio of net financial indebtedness to net capitalization was 0.02%, well below the target of 65% [12]. - The actual ratio of net financial indebtedness to EBITDA was 0.001, significantly below the target of 5 [13]. Management Commentary - The CEO expressed pride in the company's strong performance, highlighting record revenues and operational excellence, and emphasized the commitment to innovation and customer value [14]. - Matrix IT Ltd., a subsidiary, reported its best second quarter in history, with revenues growing by 3.6% year over year to NIS 1.33 billion (approximately $357.8 million) [14]. - Sapiens International Corporation N.V. reported revenues of $137 million for the second quarter, reflecting a 6.6% increase compared to the same period last year [14]. - Magic Software's operational results showed improvement, with a robust pipeline despite challenges in the North American market [15].

Core Viewpoint - Formula Systems (1985) Ltd. reported a 4.2% increase in revenues for Q1 2024, reaching $698.4 million, despite challenges in the macroeconomic environment and the impact of military service on its workforce [4][6]. Financial Performance - Revenues for Q1 2024 increased by 4.2% to $698.4 million compared to $670.4 million in Q1 2023. On a constant-currency basis, revenues would have increased by 6.6% to $714.8 million [4]. - Operating income rose by 2.9% to $62.6 million, with a constant-currency increase of approximately 2.1% to $62.1 million [4]. - Net income attributable to shareholders increased by 9.4% to $17.2 million, or $1.10 per fully diluted share, compared to $15.7 million, or $1.01 per share, in the same period last year [4]. Compliance and Financial Health - As of March 31, 2024, Formula was in compliance with all financial covenants under its debenture series, with a net financial indebtedness to net capitalization ratio of 1.0% and a net financial indebtedness to EBITDA ratio of 0.04 [5]. - Consolidated cash and cash equivalents totaled approximately $516.1 million, down from $528.2 million as of December 31, 2023 [4]. Subsidiary Performance - Matrix IT Ltd. reported a 12.6% year-over-year revenue growth, reaching NIS 1.45 billion (approximately $396.9 million) [6]. - Sapiens International Corporation N.V. saw a 7.6% increase in revenues to $134.2 million, with an annual recurring revenue (ARR) growth of 12.7% [6]. - Magic Software's revenues increased by 4.1% to $130.7 million, while operating income rose by 11% to $14.4 million compared to Q4 2023 [6]. Employee Impact - Approximately 1,100 of the 22,000 employees were drafted into military service due to the ongoing conflict, affecting profitability in certain operational areas [6].

Annual Report Filing - Formula Systems filed its Annual Report on Form 20-F for the year ended December 31, 2023, on May 15, 2024[4] - The filing includes financial statements that provide detailed information to shareholders, including holders of American Depository Shares[4] - A press release was issued on the same day to announce the filing and guide shareholders on obtaining the 2023 Form 20-F[4]

Core Insights - Formula Systems (1985) Ltd. has filed its annual report with the U.S. Securities and Exchange Commission for the year ended December 31, 2023, which includes audited consolidated financial statements [1] - The annual report is accessible on the company's website, and shareholders can request a hard copy free of charge [1] Company Overview - Formula Systems is a global information technology holding company that provides software consulting services, computer-based business solutions, and develops proprietary software products through its subsidiaries and affiliates [2] - The company's ordinary shares are traded on the Tel-Aviv Stock Exchange, while its American Depositary Shares (ADSs) are traded on the Nasdaq Global Select Market [2]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 1 ...

OR YEHUDA, Israel, March 19, 2024 (GLOBE NEWSWIRE) -- Or Yehuda, Israel, March 19, 2024 – Formula Systems (1985) Ltd. (Nasdaq and TASE: FORTY) ("Formula" or the "Company"), a global information technology group 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 fourth quarter and full year ended December 31, 2023. Financial Highlights for the Fourth ...

Exhibit 99.1 PRESS RELEASE Formula Systems Reports First Quarter 2023 Financial Results: Revenues for the First Quarter Increased by 3% Year Over Year to a Record-Breaking $670.4 Million. Operating Income for the First Quarter Increased by 2.3% Year Over Year to a Record-Breaking $60.8 million. Or Yehuda, Israel, May 23, 2023 – Formula Systems (1985) Ltd. (Nasdaq and TASE: FORTY) ("Formula" or the "Company"), a global information technology group engaged, through its subsidiaries and affiliates, in providin ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 1 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR Commission File Number: 000-29442 FORMULA SYSTEMS (1985) LTD. (Exact Name of Registrant as Specified in Its Charter and translation of Registrant's name into English) ☐ TRANSITION REPORT PURSUAN ...