Ituran Location & Control Ltd.
For the period ended Dec 31, 2025. Filed Apr 23, 2026.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2025 · Filed Apr 23, 2026
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 20-F
| ☐ | REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
OR
For the fiscal year ended December 31,2025
OR
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
OR
| ☐ | SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
Date of event requiring this shell company report..........................................
For the transition period from ____________ to ____________
Commission file number.001-32618
(Exact name of Registrant as specified in its charter)
N/A
(Translation of Registrant’s name into English)
Israel
(Jurisdiction of incorporation or organization)
3 Hashikma street, Azour,5800182 Israel
(Address of principal executive offices)
Guy Aharonov, General Counsel,3 Hashikma street, Azour,5800182 Israel, Tel:972-3-5571314, Facsimile:972-3-5571327
(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)
Securities registered or to be registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Ordinary Shares, par value NIS 0.331/3 per share | ITRN | Nasdaq Global Select Market |
Securities registered or to be registered pursuant to Section 12(g) of the Act:
None
(Title of Class)
Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:
None
(Title of Class)
Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report:
19,808,642
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
☐ Yes ☒No
If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
☐ Yes ☒No
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
☒Yes ☐ No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
☒Yes ☐ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of “large accelerated filer", "accelerated filer", and "emerging growth company" in Rule 12b-2 of the Exchange Act.
| Large accelerated filer ☐ | Accelerated filer ☒ | Non-accelerated filer ☐ | Emerging growth company ☐ |
|---|
If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act. ☐
†The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐
Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:
| U.S. GAAP ☒ | International Financial Reporting Standards as issued by the International Accounting Standards Board ☐ | Other ☐ |
|---|
If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow:
☐ Item 17 ☐ Item 18
If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
☐ Yes☒ No
TABLE OF CONTENTS
| USE OF CERTAIN TERMS | iv | |
|---|---|---|
| CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS | iv | |
| ITEM 1. | IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS | 1 |
| ITEM 2. | OFFER STATISTICS AND EXPECTED TIMETABLE | 1 |
| ITEM 3. | KEY INFORMATION | 1 |
| A | (Reserved) | 1 |
| B. | CAPITALIZATION AND INDEBTEDNESS | 1 |
| C. | REASONS FOR THE OFFER AND USE OF PROCEEDS | 1 |
| D. | RISK FACTORS | 1 |
| ITEM 4. | INFORMATION ON THE COMPANY | 9 |
| A. | HISTORY AND DEVELOPMENT OF THE COMPANY | 9 |
| B. | BUSINESS OVERVIEW | 10 |
| C. | ORGANIZATIONAL STRUCTURE | 20 |
| D. | PROPERTY, PLANTS AND EQUIPMENT | 20 |
| ITEM 4.A. | UNRESOLVED STAFF COMMENTS | 21 |
| ITEM 5. | OPERATING AND FINANCIAL REVIEW AND PROSPECTS | 22 |
| A. | OPERATING RESULTS | 22 |
| B. | LIQUIDITY AND CAPITAL RESOURCES | 31 |
| C. | RESEARCH AND DEVELOPMENT, PATENTS AND LICENSES | 33 |
| D. | TREND INFORMATION | 33 |
| E. | CRITICAL ACCOUNTING ESTIMATES | 33 |
i
| ITEM 6. | DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES | 34 |
|---|---|---|
| A. | DIRECTORS AND SENIOR MANAGEMENT | 34 |
| B. | COMPENSATION | 38 |
| C. | BOARD PRACTICES | 40 |
| D. | EMPLOYEES | 44 |
| E. | SHARE OWNERSHIP | 47 |
| ITEM 7. | MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS | 48 |
| A. | MAJOR SHAREHOLDERS | 48 |
| B. | RELATED PARTY TRANSACTIONS | 48 |
| C. | INTERESTS OF EXPERTS AND COUNSEL | 53 |
| ITEM 8. | FINANCIAL INFORMATION | 53 |
| A. | CONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION | 53 |
| B. | SIGNIFICANT CHANGES | 53 |
| ITEM 9. | THE OFFER AND LISTING | 53 |
| A. | OFFER AND LISTING DETAILS | 53 |
| B. | PLAN OF DISTRIBUTION | 53 |
| C. | MARKETS | 53 |
| D. | SELLING SHAREHOLDERS | 53 |
| E. | DILUTION | 53 |
| F. | EXPENSES OF THE ISSUE | 53 |
| ITEM 10. | ADDITIONAL INFORMATION | 53 |
| A. | SHARE CAPITAL | 53 |
| B. | MEMORANDUM AND ARTICLES OF ASSOCIATION | 53 |
| C. | MATERIAL CONTRACTS | 54 |
| D. | EXCHANGE CONTROLS | 54 |
| E. | TAXATION | 54 |
| F. | DIVIDENDS AND PAYING AGENTS | 62 |
| G. | STATEMENT BY EXPERTS | 62 |
| H. | DOCUMENTS ON DISPLAY | 62 |
| I. | SUBSIDIARY INFORMATION | 62 |
ii
| ITEM 11. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK | 62 |
|---|---|---|
| ITEM 12. | DESCRIPTIONS OF SECURITIES OTHER THAN EQUITY SECURITIES | 63 |
| A. | DEBT SECURITIES | 63 |
| B. | WARRANTS AND RIGHTS | 63 |
| C. | OTHER SECURITIES | 63 |
| D. | AMERICAN DEPOSITARY SHARES | 63 |
| ITEM 13. | DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES | 63 |
| ITEM 14. | MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS | 63 |
| ITEM 15. | CONTROLS AND PROCEDURES | 64 |
| ITEM 16. | [RESERVED] | 66 |
| ITEM 16A. | AUDIT COMMITTEE FINANCIAL EXPERT | 66 |
| ITEM 16B. | CODE OF ETHICS | 66 |
| ITEM 16C. | PRINCIPAL ACCOUNTANT FEES AND SERVICES | 66 |
| ITEM 16D. | EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES | 66 |
| ITEM 16E. | PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS | 66 |
| ITEM 16F. | CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT | 67 |
| ITEM 16G. | CORPORATE GOVERNANCE | 67 |
| ITEM 16H. | MINE SAFETY DISCLOSURE | 67 |
| ITEM 16I. | DISCLOSURE REGARDING FOREIGN JURISDICTION THAT PREVENT INSPECTIONS | 67 |
| ITEM 16J. | INSIDER TRADING POLICIES | 68 |
| ITEM 16K. | CYBERSECURITY | 68 |
| ITEM 17. | FINANCIAL STATEMENTS | 70 |
| ITEM 18. | FINANCIAL STATEMENTS | 70 |
| ITEM 19. | EXHIBITS | 70 |
iii
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