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    Ituran Location and Control Ltd (ITRN)

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    Ituran Location and Control Ltd. (ITRN) is a global leader in telematics services and products, specializing in vehicle safety, fleet management, and connected car solutions. The company provides subscription-based services and sells or leases telematics devices to enhance vehicle tracking, recovery, and management capabilities. Operating in key markets such as Israel, Brazil, and the United States, Ituran serves both individual and enterprise customers with innovative technologies originally developed for military applications.

    1. Telematics Services - Offers subscription-based services, including stolen vehicle recovery (SVR), fleet management, connected car solutions, and usage-based insurance (UBI), catering to both individual and business customers.
    2. Telematics Products - Sells or leases telematics devices, such as two-way communication systems, which are essential for enabling telematics services and are installed in customers' vehicles.
    NamePositionStart DateShort Bio
    Izzy SheratzkyPresident1995Izzy Sheratzky is a co-founder of Ituran Location and Control Ltd. and has served as its President since the company's acquisition from Tadiran in 1995. He previously held the roles of Chairman of the Board of Directors and Chief Executive Officer until 2003. Mr. Sheratzky also chairs the boards of several other companies, including Moked (1973) Investigations Company Ltd. and Moked Ituran, and serves as a director at Tikal Document Collection Ltd..
    Eyal SheratzkyCo-Chief Executive Officer2003Eyal Sheratzky has served as a director of Ituran Location and Control Ltd. since its acquisition from Tadiran in 1995 and has been a Co-Chief Executive Officer since 2003. Prior to becoming Co-CEO, he served as Vice President of Business Development from 1999 to 2002. Mr. Sheratzky holds LLB and LLM degrees from Tel Aviv University School of Law and an Executive MBA degree from the Kellogg School of Management at Northwestern University, USA. He is the son of Izzy Sheratzky and the brother of Nir and Gil Sheratzky, and the nephew of Effraim Sheratzky.
    Gil SheratzkyCEO of Subsidiary, International Activity and Business Development Officer2007Gil Sheratzky has served as a director of Ituran since its acquisition from Tadiran in 1995. He became the CEO of the subsidiary E-Com Global Electronic Commerce Ltd. on January 23, 2007 and has been the International Activity and Business Development Officer since 2013. Previously, he served as the marketing communication officer from 2003 to 2013. He holds a BA in Business Administration from the Herzliya Interdisciplinary Center and an MBA from the Booth School of Business at the University of Chicago, USA.
    Shachar SheratzkyVice President, Head of Business Division2022Shachar Sheratzky has been with the company since 2007, serving in various marketing roles. In January 2022, he was appointed as Vice President, Head of the Business Division, overseeing marketing, sales, and digital operations. He holds an MBA in Business Administration with a specialization in Global Marketing from Reichman University, Israel.
    1. Despite adding 40,000 net subscribers in the quarter, subscription revenues decreased by 1% year-over-year in U.S. dollars; can you explain this discrepancy and how you plan to drive subscription revenue growth amid currency headwinds?
    2. Given the lengthy sales cycles with OEMs due to strategic decisions, technology validation, and negotiations, what specific strategies are you implementing to shorten these cycles and accelerate growth through new partnerships?
    3. With your investment in Bringg currently valued at zero on your balance sheet, how do you plan to realize value from this investment, and what are your expectations regarding its contribution to future profits?
    4. There is a $4 million difference in your cash flow statement related to the increase in other current and noncurrent assets; can you clarify the nature of this discrepancy and its implications for your financial health?
    5. While you have successfully implemented usage-based insurance solutions in Israel, expansion into markets like Argentina and Mexico has been slow; what are the main obstacles you face, and how do you intend to overcome them to expand this offering internationally?