The Tel-Aviv Stock Exchange Ltd. (TVAVF) Q4 2025 Earnings Call Transcript

SA Transcripts158.83K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call The Tel-Aviv Stock Exchange Ltd. (TVAVF) Q4 2025 Earnings Call March 5, 2026 1:30 PM EST Company Participants Ittai Ben-Zeev - Chief Executive OfficerYehuda Ben-Ezra - Executive VP & CFO and Senior VP of Administration Conference Call Participants Hector Erazo Pinto - Jefferies LLC, Research Division Presentation Operator Ladies and gentlemen, thank you for standing by. Welcome to the Tel-Aviv Stock Exchange Fourth Quarter and Full Year 2025 Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded, March 5, 2026. The Recording will be publicly available on TASE's website. With us on the line today are Mr. Ittai Ben-Zeev, CEO; and Mr. Yehuda Ben-Ezra, CFO. Before I turn the call over to Mr. Ittai Ben-Zeev, I would like to remind everyone that this conference is not a substitute for reviewing the company's annual financial statements, quarterly financial statements and interim report for the fourth quarter and full year of 2025, in which full and precise information is presented and may contain inter-alia forward-looking statements in accordance with Section 32A of the securities law, 1968. In addition to IFRS reporting, we might mention certain financial measures that do not confirm to generally accepted accounting principles. Such non-GAAP measures are not intended in any manner to serve as a substitute for our financial results. However, we believe that they provide additional insight for better understanding of our business performance. Reconciliations between these non-GAAP measures and the most comparable related GAAP measures are included in tables that can be found in our earnings press release and in the slide presentation accompanying this call. Both can be accessed on the English MAYA site and in the Investor Relations portion of our website at ir.tase.co.il/in. Mr. Ben-Zeev, would you like to begin? Ittai Ben-ZeevChief Executive Officer Good evening, Israel