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ituran TECHNOLOGY DRIVEN BY PEOPLE ITURAN LOCATION AND CONTROL LTD . PRESENTS RESULTS FOR THE SECOND QUARTER OF 2021 AZOUR , Israel – August 23 , 2021 – Ituran Location and Control Ltd. ( NASDAQ : ITRN ) , today announced its consolidated financial results for the second quarter of 2021 . Highlights of the Second Quarter of 2021 • • • Growth in both aftermarket and OEM subscribers : net increase in aftermarket of 23,000 and net increase in OEM of 1,000 ; Revenues of $ 67.5 million , an increase of 27 % year - over - year ; Net income of $ 9.1 million , versus last year's $ 6.3 million net loss ; EBITDA of $ 18.2 million , up 30 % year - over - year ( excluding last year's impairment ) ; Generated $ 19.0 million in quarterly operating cash flow ; Declared dividend of $ 3 million ; Renewed share buy - back program ; Management Comment Eyal Sheratzky , Co - CEO of Ituran said , “ We are very pleased with our results , especially with the above - average growth in our after - market subscriber base . While the pandemic continues to impact many of the countries we operate in , we are pleased with our solid performance , demonstrating that even in the hardest of times , Ituran has a strong enough business base to successfully overcome all the challenges it has been faced with . As the global recovery moves to a more solid footing with the associated recovery in global car sales , Ituran is exceptionally well - positioned across all its geographies to capitalize on the ongoing recovery and renewed growth . " Continued Sheratzky , “ In June , one of our early - stage mobility technology holdings , Bringg , a company we seeded in 2014 , raised capital from leading venture capital investors . We are very proud that in only seven years , this company , of which Ituran remains the largest shareholder with 17 % , has grown to its current valuation of $ 1 billion and it is still valued at close to zero on our balance sheet . Ituran prides itself on its ability to correctly read market trends and invest into disruptive mobility technologies . Our investment in Bringg is a successful element of this strategy and has become a strong value - add to Ituran and its shareholders . " Added Sheratzky , “ Our continued profitability and ongoing cash generation , enables us to share the fruits of our ongoing success with our shareholders . Beyond the regular dividend payment of at least $ 3 million per quarter , the Board of Directors also renewed our share buy- back program of which $ 19 million remains and which will commence in the coming days . We believe that the ability to buy back Ituran shares , depending on market conditions , is another tool in our arsenal that will contribute to shareholder value . "