Recycling and treatment of electronic waste
Ultrade ended 2025 as an industrial recycling company with a strong Israeli core, but the market is now likely to stop rewarding core growth alone and start testing execution: overseas projects, the plastics plant and the use of the post-balance-sheet equity raise.
Ultrade's February 2026 offering largely solved the bank-debt problem inherited from year-end 2025, but it did so by sharply expanding the share base and shifting the real 2026 test from liquidity to return on new capital.
Ultrade's plastics plant has already moved from a theoretical thesis into a real investment plan, but at this stage it is still a project with regulatory tailwinds rather than a built moat.
Ultrade’s overseas-projects segment is now large enough to affect the group’s mix, but still not profitable enough to stand on its own. In 2025 it rose to NIS 10.3 million of revenue, crossed into positive gross profit, but still ended with negative EBITDA of NIS 1.1 million and…
