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Formula Systems (1985) Ltd – ‘20-F’ for 12/31/18 – ‘EX-101.LAB’

On:  Wednesday, 5/15/19, at 8:05am ET   ·   For:  12/31/18   ·   Accession #:  1213900-19-8675   ·   File #:  0-29442

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/15/19  Formula Systems (1985) Ltd        20-F       12/31/18  164:15M                                    Edgar Agents LLC/FA

Annual Report by a Foreign Non-Canadian Issuer   —   Form 20-F   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 20-F        Annual Report by a Foreign Non-Canadian Issuer      HTML   2.14M 
 2: EX-8.1      List of Subsidiaries                                HTML     41K 
 5: EX-13.1     Annual or Quarterly Report to Security Holders      HTML     41K 
 6: EX-13.2     Annual or Quarterly Report to Security Holders      HTML     42K 
 3: EX-12.1     Statement re: Computation of Ratios                 HTML     47K 
 4: EX-12.2     Statement re: Computation of Ratios                 HTML     47K 
 7: EX-15.1     Consent of Kost, Forer, Gabbay & Kasierer, A        HTML     40K 
                Member of Ernst & Young Global                                   
 8: EX-15.2     Consent of Kda Audit Corporation                    HTML     41K 
15: R1          Document and Entity Information                     HTML     72K 
16: R2          Consolidated Statements of Financial Position       HTML    161K 
17: R3          Consolidated Statements of Financial Position       HTML     55K 
                (Parenthetical)                                                  
18: R4          Consolidated Statements of Profit or Loss           HTML    104K 
19: R5          Consolidated Statements of Comprehensive Income     HTML     82K 
20: R6          Consolidated Statements of Changes in Equity        HTML    123K 
21: R7          Consolidated Statements of Other Comprehensive      HTML     54K 
                Income                                                           
22: R8          Consolidated Statements of Cash Flows               HTML    188K 
23: R9          Consolidated Statements of Cash Flows               HTML     61K 
                (Parenthetical)                                                  
24: R10         General                                             HTML     63K 
25: R11         Significant Accounting Policies                     HTML    349K 
26: R12         New Standards, Interpretations and Amendments       HTML     65K 
                Adopted By The Group                                             
27: R13         Business Combination, Significant Transaction and   HTML    166K 
                Sale of Business                                                 
28: R14         Marketable Securities                               HTML     66K 
29: R15         Prepaid Expenses and Other Accounts Receivable      HTML     47K 
30: R16         Fair Value Measurement                              HTML     68K 
31: R17         Investments in Companies Accounted for at Equity    HTML     82K 
                Method                                                           
32: R18         Property, Plants and Equipment, Net                 HTML     60K 
33: R19         Intangible Assets, Net                              HTML     53K 
34: R20         Goodwill                                            HTML     47K 
35: R21         Short Term Liabilities to Banks and Others          HTML     59K 
36: R22         Other Accounts Payable                              HTML     45K 
37: R23         Long Term Liabilities to Banks and Others           HTML     68K 
38: R24         Debentures                                          HTML    122K 
39: R25         Related Parties Transactions                        HTML     53K 
40: R26         Employee Option Plans                               HTML    126K 
41: R27         Employee Benefit Liabilities                        HTML     51K 
42: R28         Commitments and Contingencies                       HTML     95K 
43: R29         Equity                                              HTML     62K 
44: R30         Taxes on Income                                     HTML    118K 
45: R31         Supplementary Financial Statement Information       HTML     80K 
46: R32         Operating Segments                                  HTML    115K 
47: R33         Subsequent Events                                   HTML     50K 
48: R34         Significant Accounting Policies (Policies)          HTML    412K 
49: R35         General (Tables)                                    HTML     48K 
50: R36         Significant Accounting Policies (Tables)            HTML     85K 
51: R37         Business Combination, Significant Transaction and   HTML    169K 
                Sale of Business (Tables)                                        
52: R38         Marketable Securities (Tables)                      HTML     70K 
53: R39         Prepaid Expenses and Other Accounts Receivable      HTML     52K 
                (Tables)                                                         
54: R40         Fair Value Measurement (Tables)                     HTML     67K 
55: R41         Investments in Companies Accounted for at Equity    HTML     90K 
                Method (Tables)                                                  
56: R42         Property, Plants and Equipment, Net (Tables)        HTML     58K 
57: R43         Intangible Assets, Net (Tables)                     HTML     50K 
58: R44         Goodwill (Tables)                                   HTML     46K 
59: R45         Short Term Liabilities to Banks and Others          HTML     58K 
                (Tables)                                                         
60: R46         Other Accounts Payable (Tables)                     HTML     45K 
61: R47         Long Term Liabilities to Banks and Others (Tables)  HTML     64K 
62: R48         Debentures (Tables)                                 HTML    102K 
63: R49         Employee Option Plans (Tables)                      HTML    133K 
64: R50         Employee Benefit Liabilities (Tables)               HTML     46K 
65: R51         Commitments and Contingencies (Tables)              HTML     50K 
66: R52         Equity (Tables)                                     HTML     52K 
67: R53         Taxes on Income (Tables)                            HTML     94K 
68: R54         Supplementary Financial Statement Information       HTML     94K 
                (Tables)                                                         
69: R55         Operating Segments (Tables)                         HTML     95K 
70: R56         General (Details)                                   HTML     56K 
71: R57         General (Details Textual)                           HTML     44K 
72: R58         Significant Accounting Policies (Details)           HTML     57K 
73: R59         Significant Accounting Policies (Details 1)         HTML     54K 
74: R60         Significant Accounting Policies (Details 2)         HTML     83K 
75: R61         Significant Accounting Policies (Details 3)         HTML     68K 
76: R62         Significant Accounting Policies (Details 4)         HTML     50K 
77: R63         Significant Accounting Policies (Details Textual)   HTML     72K 
78: R64         New Standards, Interpretations and Amendments       HTML     46K 
                Adopted By The Group (Details)                                   
79: R65         Business Combination, Significant Transaction and   HTML     59K 
                Sale of Business (Details)                                       
80: R66         Business Combination, Significant Transaction and   HTML     55K 
                Sale of Business (Details 1)                                     
81: R67         Business Combination, Significant Transaction and   HTML     53K 
                Sale of Business (Details 2)                                     
82: R68         Business Combination, Significant Transaction and   HTML     55K 
                Sale of Business (Details 3)                                     
83: R69         Business Combination, Significant Transaction and   HTML     74K 
                Sale of Business (Details 4)                                     
84: R70         Business Combination, Significant Transaction and   HTML     51K 
                Sale of Business (Details 5)                                     
85: R71         Business Combination, Significant Transaction and   HTML     55K 
                Sale of Business (Details 6)                                     
86: R72         Business Combination, Significant Transaction and   HTML     55K 
                Sale of Business (Details 7)                                     
87: R73         Business Combination, Significant Transaction and   HTML     55K 
                Sale of Business (Details 8)                                     
88: R74         Business Combination, Significant Transaction and   HTML     56K 
                Sale of Business (Details 9)                                     
89: R75         Business Combination, Significant Transaction and   HTML     57K 
                Sale of Business (Details 10)                                    
90: R76         Business Combination, Significant Transaction and   HTML     55K 
                Sale of Business (Details 11)                                    
91: R77         Business Combination, Significant Transaction and   HTML     58K 
                Sale of Business (Details 12)                                    
92: R78         Business Combination, Significant Transaction and   HTML     55K 
                Sale of Business (Details 13)                                    
93: R79         Business Combination, Significant Transaction and   HTML     57K 
                Sale of Business (Details 14)                                    
94: R80         Business Combination, Significant Transaction and   HTML     55K 
                Sale of Business (Details 15)                                    
95: R81         Business Combination, Significant Transaction and   HTML     58K 
                Sale of Business (Details 16)                                    
96: R82         Business Combination, Significant Transaction and   HTML     55K 
                Sale of Business (Details 17)                                    
97: R83         Business Combination, Significant Transaction and   HTML     54K 
                Sale of Business (Details 18)                                    
98: R84         Business Combination, Significant Transaction and   HTML     58K 
                Sale of Business (Details 19)                                    
99: R85         Business Combination, Significant Transaction and   HTML     57K 
                Sale of Business (Details 20)                                    
100: R86         Business Combination, Significant Transaction and   HTML     56K  
                Sale of Business (Details 21)                                    
101: R87         Business Combination, Significant Transaction and   HTML     57K  
                Sale of Business (Details 22)                                    
102: R88         Business Combination, Significant Transaction and   HTML     60K  
                Sale of Business (Details Textual)                               
103: R89         Business Combination, Significant Transaction and   HTML     56K  
                Sale of Business (Details Textual 1)                             
104: R90         Business Combination, Significant Transaction and   HTML    152K  
                Sale of Business (Details Textual 2)                             
105: R91         Business Combination, Significant Transaction and   HTML    208K  
                Sale of Business (Details Textual 3)                             
106: R92         Marketable Securities (Details)                     HTML     50K  
107: R93         Marketable Securities (Details 1)                   HTML     51K  
108: R94         Marketable Securities (Details 2)                   HTML     66K  
109: R95         Marketable Securities (Details 3)                   HTML     49K  
110: R96         Marketable Securities (Details Textual)             HTML     47K  
111: R97         Disclosure - Prepaid Expenses and Other Accounts    HTML     55K  
                Receivable (Details)                                             
112: R98         Fair Value Measurement (Details)                    HTML     83K  
113: R99         Investments in Companies Accounted for at Equity    HTML     49K  
                Method (Details)                                                 
114: R100        Investments in Companies Accounted for at Equity    HTML     50K  
                Method (Details 1)                                               
115: R101        Investments in Companies Accounted for at Equity    HTML     52K  
                Method (Details 2)                                               
116: R102        Investments in Companies Accounted for at Equity    HTML     78K  
                Method (Details 3)                                               
117: R103        Investments in Companies Accounted for at Equity    HTML     83K  
                Method (Details 4)                                               
118: R104        Investments in Companies Accounted for at Equity    HTML     47K  
                Method (Details Textual)                                         
119: R105        Property, Plants and Equipment, Net (Details)       HTML     59K  
120: R106        Property, Plants and Equipment, Net (Details        HTML     43K  
                Textual)                                                         
121: R107        Intangible Assets, Net (Details)                    HTML     62K  
122: R108        Intangible Assets, Net (Details Textual)            HTML     43K  
123: R109        Goodwill (Details)                                  HTML     50K  
124: R110        Short Term Liabilities to Banks and Others          HTML     64K  
                (Details)                                                        
125: R111        Other Accounts Payable (Details)                    HTML     50K  
126: R112        Long Term Liabilities to Banks and Others           HTML     62K  
                (Details)                                                        
127: R113        Long Term Liabilities to Banks and Others (Details  HTML     51K  
                1)                                                               
128: R114        Long Term Liabilities to Banks and Others (Details  HTML     50K  
                Textual)                                                         
129: R115        Debentures (Details)                                HTML     77K  
130: R116        Debentures (Details 1)                              HTML     52K  
131: R117        Debentures (Details Textual)                        HTML    110K  
132: R118        Related Parties Transactions (Details)              HTML     63K  
133: R119        Employee Option Plans (Details)                     HTML     53K  
134: R120        Employee Option Plans (Details 1)                   HTML     76K  
135: R121        Employee Option Plans (Details 2)                   HTML     74K  
136: R122        Employee Option Plans (Details 3)                   HTML     93K  
137: R123        Employee Option Plans (Details 4)                   HTML     74K  
138: R124        Employee Option Plans (Details 5)                   HTML     74K  
139: R125        Employee Option Plans (Details Textual)             HTML    173K  
140: R126        Employee Benefit Liabilities (Details)              HTML     47K  
141: R127        Commitments and Contingencies (Details)             HTML     57K  
142: R128        Commitments and Contingencies (Details 1)           HTML     53K  
143: R129        Commitments and Contingencies (Details Textual)     HTML    160K  
144: R130        Equity (Details)                                    HTML     51K  
145: R131        Equity (Details Textual)                            HTML     57K  
146: R132        Taxes on Income (Details)                           HTML     48K  
147: R133        Taxes on Income (Details 1)                         HTML     50K  
148: R134        Taxes on Income (Details 2)                         HTML     49K  
149: R135        Taxes on Income (Details 3)                         HTML     50K  
150: R136        Taxes on Income (Details 4)                         HTML     72K  
151: R137        Taxes on Income (Details 5)                         HTML     49K  
152: R138        Taxes on Income (Details Textual)                   HTML     98K  
153: R139        Supplementary Financial Statement Information       HTML     52K  
                (Details)                                                        
154: R140        Supplementary Financial Statement Information       HTML     60K  
                (Details 1)                                                      
155: R141        Supplementary Financial Statement Information       HTML     54K  
                (Details 2)                                                      
156: R142        Supplementary Financial Statement Information       HTML     61K  
                (Details 3)                                                      
157: R143        Supplementary Financial Statement Information       HTML     57K  
                (Details 4)                                                      
158: R144        Operating Segments (Details)                        HTML     53K  
159: R145        Operating Segments (Details 1)                      HTML     97K  
160: R146        Operating Segments (Details Textual)                HTML     61K  
161: R147        Subsequent Events (Details)                         HTML     61K  
163: XML         IDEA XML File -- Filing Summary                      XML    323K  
162: EXCEL       IDEA Workbook of Financial Reports                  XLSX    221K  
 9: EX-101.INS  XBRL Instance -- forty-20181231                      XML   4.44M 
11: EX-101.CAL  XBRL Calculations -- forty-20181231_cal              XML    339K 
12: EX-101.DEF  XBRL Definitions -- forty-20181231_def               XML   1.48M 
13: EX-101.LAB  XBRL Labels -- forty-20181231_lab                    XML   2.35M 
14: EX-101.PRE  XBRL Presentations -- forty-20181231_pre             XML   1.97M 
10: EX-101.SCH  XBRL Schema -- forty-20181231                        XSD    592K 
164: ZIP         XBRL Zipped Folder -- 0001213900-19-008675-xbrl      Zip    396K

‘EX-101.LAB’   —   XBRL Labels — forty-20181231_lab

This Exhibit is an XBRL XML File.

                                                                                                                                                                                
<?xml version="1.0" standalone="no" encoding="windows-1252"?>
<!-- Field: Doc-Info; Name: Generator; Value: GoXBRL; Version: 4.26b -->
<!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.co -->
<!-- Field: Doc-Info; Name: Source; Value: forty%2D20181231.xfr; Date: 2019%2D05%2D14T20:05:10Z -->
<!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
<link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel"/>
<link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel"/>
<link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel"/>
<link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel"/>
<link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel"/>
<link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel"/>
<link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel"/>
<link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfInvestmentPropertyAxis" xlink:label="ifrs-full_TypesOfInvestmentPropertyAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfInvestmentPropertyAxis" xlink:to="ifrs-full_TypesOfInvestmentPropertyAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfInvestmentPropertyAxis_lbl" xml:lang="en-US"> Types of investment property [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TsgAdvancedSystemsLtdMember" xlink:label="forty_TsgAdvancedSystemsLtdMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TsgAdvancedSystemsLtdMember" xlink:to="forty_TsgAdvancedSystemsLtdMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TsgAdvancedSystemsLtdMember_lbl" xml:lang="en-US"> Tsg Advanced Systems Ltd [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GeographicalAreasAxis_lbl" xml:lang="en-US"> Geographical areas [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IsraelMember" xlink:label="forty_IsraelMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IsraelMember" xlink:to="forty_IsraelMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IsraelMember_lbl" xml:lang="en-US"> Israel [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_UnitedStatesMember" xlink:label="forty_UnitedStatesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UnitedStatesMember" xlink:to="forty_UnitedStatesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_UnitedStatesMember_lbl" xml:lang="en-US"> United States [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_EuropeanMember" xlink:label="forty_EuropeanMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EuropeanMember" xlink:to="forty_EuropeanMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_EuropeanMember_lbl" xml:lang="en-US"> European [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_JapanMember" xlink:label="forty_JapanMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_JapanMember" xlink:to="forty_JapanMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_JapanMember_lbl" xml:lang="en-US"> Japan [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OthersMember" xlink:label="forty_OthersMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OthersMember" xlink:to="forty_OthersMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OthersMember_lbl" xml:lang="en-US"> Others [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" xml:lang="en-US"> Categories of related parties [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SapiensMember" xlink:label="forty_SapiensMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SapiensMember" xlink:to="forty_SapiensMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SapiensMember_lbl" xml:lang="en-US"> Sapiens [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MagicSoftwareMember" xlink:label="forty_MagicSoftwareMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MagicSoftwareMember" xlink:to="forty_MagicSoftwareMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MagicSoftwareMember_lbl" xml:lang="en-US"> Magic Software [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MichpalMember" xlink:label="forty_MichpalMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MichpalMember" xlink:to="forty_MichpalMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MichpalMember_lbl" xml:lang="en-US"> Michpal [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MatrixMember" xlink:label="forty_MatrixMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MatrixMember" xlink:to="forty_MatrixMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MatrixMember_lbl" xml:lang="en-US"> Matrix [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xml:lang="en-US"> Levels of fair value hierarchy [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Level1OfFairValueHierarchyMember" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level1OfFairValueHierarchyMember" xlink:to="ifrs-full_Level1OfFairValueHierarchyMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember_lbl" xml:lang="en-US"> Level 1 of fair value hierarchy [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Level2OfFairValueHierarchyMember" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level2OfFairValueHierarchyMember" xlink:to="ifrs-full_Level2OfFairValueHierarchyMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember_lbl" xml:lang="en-US"> Level 2 of fair value hierarchy [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Level3OfFairValueHierarchyMember" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level3OfFairValueHierarchyMember" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember_lbl" xml:lang="en-US"> Level 3 of fair value hierarchy [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsByNameAxis_lbl" xml:lang="en-US"> Borrowings by name [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_BankCreditMember" xlink:label="forty_BankCreditMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BankCreditMember" xlink:to="forty_BankCreditMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_BankCreditMember_lbl" xml:lang="en-US"> Bank Credit [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_BankCreditOneMember" xlink:label="forty_BankCreditOneMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BankCreditOneMember" xlink:to="forty_BankCreditOneMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_BankCreditOneMember_lbl" xml:lang="en-US"> Bank Credit One [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ShortTermBankLoansMember" xlink:label="forty_ShortTermBankLoansMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShortTermBankLoansMember" xlink:to="forty_ShortTermBankLoansMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ShortTermBankLoansMember_lbl" xml:lang="en-US"> Short Term Bank Loans [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CurrentMaturitiesOfLongTermLoansFromBanksAndOtherFinancialInstitutionsMember" xlink:label="forty_CurrentMaturitiesOfLongTermLoansFromBanksAndOtherFinancialInstitutionsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CurrentMaturitiesOfLongTermLoansFromBanksAndOtherFinancialInstitutionsMember" xlink:to="forty_CurrentMaturitiesOfLongTermLoansFromBanksAndOtherFinancialInstitutionsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CurrentMaturitiesOfLongTermLoansFromBanksAndOtherFinancialInstitutionsMember_lbl" xml:lang="en-US"> Current Maturities Of Long Term Loans From Banks And Other Financial Institutions [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CurrentMaturitiesOfLongTermLoansFromBanksMember" xlink:label="forty_CurrentMaturitiesOfLongTermLoansFromBanksMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CurrentMaturitiesOfLongTermLoansFromBanksMember" xlink:to="forty_CurrentMaturitiesOfLongTermLoansFromBanksMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CurrentMaturitiesOfLongTermLoansFromBanksMember_lbl" xml:lang="en-US"> Current Maturities Of Long Term Loans From Banks [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AccumulatedInterestOnLongTermLoansFromOtherFinancialInstitutionsMember" xlink:label="forty_AccumulatedInterestOnLongTermLoansFromOtherFinancialInstitutionsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccumulatedInterestOnLongTermLoansFromOtherFinancialInstitutionsMember" xlink:to="forty_AccumulatedInterestOnLongTermLoansFromOtherFinancialInstitutionsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AccumulatedInterestOnLongTermLoansFromOtherFinancialInstitutionsMember_lbl" xml:lang="en-US"> Accumulated Interest On Long Term Loans From Other Financial Institutions [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GovernmentInstitutionsMember" xlink:label="forty_GovernmentInstitutionsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GovernmentInstitutionsMember" xlink:to="forty_GovernmentInstitutionsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_GovernmentInstitutionsMember_lbl" xml:lang="en-US"> Government Institutions [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AccruedRoyaltiesToOcsMember" xlink:label="forty_AccruedRoyaltiesToOcsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccruedRoyaltiesToOcsMember" xlink:to="forty_AccruedRoyaltiesToOcsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AccruedRoyaltiesToOcsMember_lbl" xml:lang="en-US"> Accrued Royalties To Ocs [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AccruedExpensesAndOtherCurrentLiabilitiesMember" xlink:label="forty_AccruedExpensesAndOtherCurrentLiabilitiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccruedExpensesAndOtherCurrentLiabilitiesMember" xlink:to="forty_AccruedExpensesAndOtherCurrentLiabilitiesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AccruedExpensesAndOtherCurrentLiabilitiesMember_lbl" xml:lang="en-US"> Accrued Expenses And Other Current Liabilities [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_BusinessCombinationsAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BusinessCombinationsAxis_lbl" xml:lang="en-US"> Business combinations [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_StoneriverIncMember" xlink:label="forty_StoneriverIncMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_StoneriverIncMember" xlink:to="forty_StoneriverIncMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_StoneriverIncMember_lbl" xml:lang="en-US"> Stoneriver, Inc [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LinkageBasisCurrencyMember" xlink:label="forty_LinkageBasisCurrencyMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LinkageBasisCurrencyMember" xlink:to="forty_LinkageBasisCurrencyMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LinkageBasisCurrencyMember_lbl" xml:lang="en-US"> Linkage Basis Currency [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LinkageBasisCurrencyOneMember" xlink:label="forty_LinkageBasisCurrencyOneMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LinkageBasisCurrencyOneMember" xlink:to="forty_LinkageBasisCurrencyOneMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LinkageBasisCurrencyOneMember_lbl" xml:lang="en-US"> Linkage Basis Currency One [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NetworkInfrastructureTechnologiesIncMember" xlink:label="forty_NetworkInfrastructureTechnologiesIncMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NetworkInfrastructureTechnologiesIncMember" xlink:to="forty_NetworkInfrastructureTechnologiesIncMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NetworkInfrastructureTechnologiesIncMember_lbl" xml:lang="en-US"> Network Infrastructure Technologies Inc [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ValuationtechniquesAxis" xlink:label="forty_ValuationtechniquesAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ValuationtechniquesAxis" xlink:to="forty_ValuationtechniquesAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ValuationtechniquesAxis_lbl" xml:lang="en-US"> Valuationtechniques [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OtherMember" xlink:label="forty_OtherMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherMember" xlink:to="forty_OtherMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OtherMember_lbl" xml:lang="en-US"> Other [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ifrs-full_ComponentsOfEquityAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_ComponentsOfEquityAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComponentsOfEquityAxis_lbl" xml:lang="en-US"> Components of equity [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl" xml:lang="en-US"> Accumulated other comprehensive income [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncontrollingInterestsMember" xlink:label="ifrs-full_NoncontrollingInterestsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterestsMember" xlink:to="ifrs-full_NoncontrollingInterestsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncontrollingInterestsMember_lbl" xml:lang="en-US"> Non-controlling interests [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapitalMember" xlink:label="ifrs-full_IssuedCapitalMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapitalMember" xlink:to="ifrs-full_IssuedCapitalMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IssuedCapitalMember_lbl" xml:lang="en-US"> Issued capital [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TreasurySharesMember" xlink:label="ifrs-full_TreasurySharesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TreasurySharesMember" xlink:to="ifrs-full_TreasurySharesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TreasurySharesMember_lbl" xml:lang="en-US"> Treasury shares [member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PlanOfNameAxis" xlink:label="forty_PlanOfNameAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PlanOfNameAxis" xlink:to="forty_PlanOfNameAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PlanOfNameAxis_lbl" xml:lang="en-US"> Plan Of Name [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GeneralAssemblyMember" xlink:label="forty_GeneralAssemblyMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GeneralAssemblyMember" xlink:to="forty_GeneralAssemblyMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_GeneralAssemblyMember_lbl" xml:lang="en-US"> General Assembly [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_EmployeeOptionPlansAxis" xlink:label="forty_EmployeeOptionPlansAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EmployeeOptionPlansAxis" xlink:to="forty_EmployeeOptionPlansAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_EmployeeOptionPlansAxis_lbl" xml:lang="en-US"> Employee Option Plans [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TwoThousandElevenPlanMember" xlink:label="forty_TwoThousandElevenPlanMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TwoThousandElevenPlanMember" xlink:to="forty_TwoThousandElevenPlanMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TwoThousandElevenPlanMember_lbl" xml:lang="en-US"> Two Thousand Eleven Plan [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TrusteeMember" xlink:label="forty_TrusteeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TrusteeMember" xlink:to="forty_TrusteeMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TrusteeMember_lbl" xml:lang="en-US"> Trustee [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TrusteeOneMember" xlink:label="forty_TrusteeOneMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TrusteeOneMember" xlink:to="forty_TrusteeOneMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TrusteeOneMember_lbl" xml:lang="en-US"> Trustee One [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SegmentConsolidationItemsAxis" xlink:label="ifrs-full_SegmentConsolidationItemsAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SegmentConsolidationItemsAxis" xlink:to="ifrs-full_SegmentConsolidationItemsAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SegmentConsolidationItemsAxis_lbl" xml:lang="en-US"> Segment consolidation items [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AdjustmentsMember" xlink:label="forty_AdjustmentsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsMember" xlink:to="forty_AdjustmentsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AdjustmentsMember_lbl" xml:lang="en-US"> Adjustments [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AcquisitionOfStoneriverIncMember" xlink:label="forty_AcquisitionOfStoneriverIncMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AcquisitionOfStoneriverIncMember" xlink:to="forty_AcquisitionOfStoneriverIncMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AcquisitionOfStoneriverIncMember_lbl" xml:lang="en-US"> Acquisition Of Stoneriver Inc [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_InsyncMember" xlink:label="forty_InsyncMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InsyncMember" xlink:to="forty_InsyncMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_InsyncMember_lbl" xml:lang="en-US"> Insync [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CountryOfDomicileMember" xlink:label="ifrs-full_CountryOfDomicileMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CountryOfDomicileMember" xlink:to="ifrs-full_CountryOfDomicileMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CountryOfDomicileMember_lbl" xml:lang="en-US"> Country of domicile [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ForeignCountriesMember" xlink:label="ifrs-full_ForeignCountriesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ForeignCountriesMember" xlink:to="ifrs-full_ForeignCountriesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ForeignCountriesMember_lbl" xml:lang="en-US"> Foreign countries [member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TypeOfSeriesDebentureAxis" xlink:label="forty_TypeOfSeriesDebentureAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TypeOfSeriesDebentureAxis" xlink:to="forty_TypeOfSeriesDebentureAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TypeOfSeriesDebentureAxis_lbl" xml:lang="en-US"> Type Of Series Debenture [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SeriesBConvertibleDebenturesMember" xlink:label="forty_SeriesBConvertibleDebenturesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SeriesBConvertibleDebenturesMember" xlink:to="forty_SeriesBConvertibleDebenturesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SeriesBConvertibleDebenturesMember_lbl" xml:lang="en-US"> Series B Convertible Debentures [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SeriesASecuredDebenturesMember" xlink:label="forty_SeriesASecuredDebenturesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SeriesASecuredDebenturesMember" xlink:to="forty_SeriesASecuredDebenturesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SeriesASecuredDebenturesMember_lbl" xml:lang="en-US"> Series A Secured Debentures [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_InfinigySolutionsLlcMember" xlink:label="forty_InfinigySolutionsLlcMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InfinigySolutionsLlcMember" xlink:to="forty_InfinigySolutionsLlcMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_InfinigySolutionsLlcMember_lbl" xml:lang="en-US"> Infinigy Solutions Llc [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OtherAcquisitionsByMagicMember" xlink:label="forty_OtherAcquisitionsByMagicMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherAcquisitionsByMagicMember" xlink:to="forty_OtherAcquisitionsByMagicMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OtherAcquisitionsByMagicMember_lbl" xml:lang="en-US"> Other Acquisitions By Magic [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MagicMember" xlink:label="forty_MagicMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MagicMember" xlink:to="forty_MagicMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MagicMember_lbl" xml:lang="en-US"> Magic [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_InvesteeNameAxis" xlink:label="forty_InvesteeNameAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InvesteeNameAxis" xlink:to="forty_InvesteeNameAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_InvesteeNameAxis_lbl" xml:lang="en-US"> Investee Name [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TsgMember" xlink:label="forty_TsgMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TsgMember" xlink:to="forty_TsgMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TsgMember_lbl" xml:lang="en-US"> Tsg [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ComblackItLtdMember" xlink:label="forty_ComblackItLtdMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ComblackItLtdMember" xlink:to="forty_ComblackItLtdMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ComblackItLtdMember_lbl" xml:lang="en-US"> Comblack It Ltd [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ProgramaLogisticsSystemsLtdMember" xlink:label="forty_ProgramaLogisticsSystemsLtdMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ProgramaLogisticsSystemsLtdMember" xlink:to="forty_ProgramaLogisticsSystemsLtdMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ProgramaLogisticsSystemsLtdMember_lbl" xml:lang="en-US"> Programa Logistics Systems Ltd [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TsgItAdvancedSystemsLtdMember" xlink:label="forty_TsgItAdvancedSystemsLtdMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TsgItAdvancedSystemsLtdMember" xlink:to="forty_TsgItAdvancedSystemsLtdMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TsgItAdvancedSystemsLtdMember_lbl" xml:lang="en-US"> Tsg It Advanced Systems Ltd [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MaximumProcessingIncMember" xlink:label="forty_MaximumProcessingIncMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MaximumProcessingIncMember" xlink:to="forty_MaximumProcessingIncMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MaximumProcessingIncMember_lbl" xml:lang="en-US"> Maximum Processing Inc. [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FourSightBusinessIntelligenceIncMember" xlink:label="forty_FourSightBusinessIntelligenceIncMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FourSightBusinessIntelligenceIncMember" xlink:to="forty_FourSightBusinessIntelligenceIncMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FourSightBusinessIntelligenceIncMember_lbl" xml:lang="en-US"> Four Sight Business Intelligence Inc [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RoshtovSoftwareIndustriesLtdMember" xlink:label="forty_RoshtovSoftwareIndustriesLtdMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RoshtovSoftwareIndustriesLtdMember" xlink:to="forty_RoshtovSoftwareIndustriesLtdMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RoshtovSoftwareIndustriesLtdMember_lbl" xml:lang="en-US"> Roshtov Software Industries Ltd [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AvivManagementEngineeringSystemsLtdMember" xlink:label="forty_AvivManagementEngineeringSystemsLtdMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AvivManagementEngineeringSystemsLtdMember" xlink:to="forty_AvivManagementEngineeringSystemsLtdMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AvivManagementEngineeringSystemsLtdMember_lbl" xml:lang="en-US"> Aviv Management Engineering Systems Ltd [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MichpalMicroComputers1983Ltd.Member" xlink:label="forty_MichpalMicroComputers1983Ltd.Member"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MichpalMicroComputers1983Ltd.Member" xlink:to="forty_MichpalMicroComputers1983Ltd.Member_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MichpalMicroComputers1983Ltd.Member_lbl" xml:lang="en-US"> Michpal Micro Computers (1983) Ltd. [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_KnowledgePriceMember" xlink:label="forty_KnowledgePriceMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_KnowledgePriceMember" xlink:to="forty_KnowledgePriceMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_KnowledgePriceMember_lbl" xml:lang="en-US"> Knowledge Price [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SecondToNoneSolutionsIncMember" xlink:label="forty_SecondToNoneSolutionsIncMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SecondToNoneSolutionsIncMember" xlink:to="forty_SecondToNoneSolutionsIncMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SecondToNoneSolutionsIncMember_lbl" xml:lang="en-US"> Second To None Solutions Inc [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AcquisitionOfKnowledgepriceMember" xlink:label="forty_AcquisitionOfKnowledgepriceMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AcquisitionOfKnowledgepriceMember" xlink:to="forty_AcquisitionOfKnowledgepriceMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AcquisitionOfKnowledgepriceMember_lbl" xml:lang="en-US"> Acquisition Of Knowledgeprice [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_YearAxis" xlink:label="forty_YearAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_YearAxis" xlink:to="forty_YearAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_YearAxis_lbl" xml:lang="en-US"> Year [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DecemberTwoThousandSeventeenMember" xlink:label="forty_DecemberTwoThousandSeventeenMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DecemberTwoThousandSeventeenMember" xlink:to="forty_DecemberTwoThousandSeventeenMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DecemberTwoThousandSeventeenMember_lbl" xml:lang="en-US"> December Two Thousand Seventeen [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_JanuaryTwoThousandEighteenMember" xlink:label="forty_JanuaryTwoThousandEighteenMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_JanuaryTwoThousandEighteenMember" xlink:to="forty_JanuaryTwoThousandEighteenMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_JanuaryTwoThousandEighteenMember_lbl" xml:lang="en-US"> January Two Thousand Eighteen [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ShavitSoftwareLtdMember" xlink:label="forty_ShavitSoftwareLtdMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShavitSoftwareLtdMember" xlink:to="forty_ShavitSoftwareLtdMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ShavitSoftwareLtdMember_lbl" xml:lang="en-US"> Shavit Software Ltd [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RangesAxis" xlink:label="forty_RangesAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RangesAxis" xlink:to="forty_RangesAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RangesAxis_lbl" xml:lang="en-US"> Ranges [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="ifrs-full_BottomOfRangeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BottomOfRangeMember_lbl" xml:lang="en-US"> Bottom of range [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TopOfRangeMember" xlink:label="ifrs-full_TopOfRangeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TopOfRangeMember_lbl" xml:lang="en-US"> Top of range [member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AcquisitionOfTiltanSystemsEngineeringLtdMember" xlink:label="forty_AcquisitionOfTiltanSystemsEngineeringLtdMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AcquisitionOfTiltanSystemsEngineeringLtdMember" xlink:to="forty_AcquisitionOfTiltanSystemsEngineeringLtdMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AcquisitionOfTiltanSystemsEngineeringLtdMember_lbl" xml:lang="en-US"> Acquisition Of Tiltan Systems Engineering Ltd [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_HydusIncMember" xlink:label="forty_HydusIncMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_HydusIncMember" xlink:to="forty_HydusIncMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_HydusIncMember_lbl" xml:lang="en-US"> Hydus Inc [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SecuritiesAxis" xlink:label="forty_SecuritiesAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SecuritiesAxis" xlink:to="forty_SecuritiesAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SecuritiesAxis_lbl" xml:lang="en-US"> Securities [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CommercialBondsMember" xlink:label="forty_CommercialBondsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CommercialBondsMember" xlink:to="forty_CommercialBondsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CommercialBondsMember_lbl" xml:lang="en-US"> Commercial Bonds [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl" xml:lang="en-US"> Classes of property, plant and equipment [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MotorVehiclesMember" xlink:label="ifrs-full_MotorVehiclesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MotorVehiclesMember" xlink:to="ifrs-full_MotorVehiclesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MotorVehiclesMember_lbl" xml:lang="en-US"> Motor vehicles [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BuildingsMember" xlink:label="ifrs-full_BuildingsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BuildingsMember" xlink:to="ifrs-full_BuildingsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BuildingsMember_lbl" xml:lang="en-US"> Buildings [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComputerEquipmentMember" xlink:label="ifrs-full_ComputerEquipmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerEquipmentMember" xlink:to="ifrs-full_ComputerEquipmentMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComputerEquipmentMember_lbl" xml:lang="en-US"> Computer equipment [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LeaseholdImprovementsMember" xlink:label="ifrs-full_LeaseholdImprovementsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseholdImprovementsMember" xlink:to="ifrs-full_LeaseholdImprovementsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LeaseholdImprovementsMember_lbl" xml:lang="en-US"> Leasehold improvements [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfInterestRatesAxis" xlink:label="ifrs-full_TypesOfInterestRatesAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_TypesOfInterestRatesAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfInterestRatesAxis_lbl" xml:lang="en-US"> Types of interest rates [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FixedInterestRateMember" xlink:label="ifrs-full_FixedInterestRateMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FixedInterestRateMember" xlink:to="ifrs-full_FixedInterestRateMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FixedInterestRateMember_lbl" xml:lang="en-US"> Fixed interest rate [member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SecuredDebenturesTwoMember" xlink:label="forty_SecuredDebenturesTwoMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SecuredDebenturesTwoMember" xlink:to="forty_SecuredDebenturesTwoMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SecuredDebenturesTwoMember_lbl" xml:lang="en-US"> Secured Debentures Two [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SecuredDebenturesMember" xlink:label="forty_SecuredDebenturesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SecuredDebenturesMember" xlink:to="forty_SecuredDebenturesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SecuredDebenturesMember_lbl" xml:lang="en-US"> Secured Debentures [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SecuredDebenturesOneMember" xlink:label="forty_SecuredDebenturesOneMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SecuredDebenturesOneMember" xlink:to="forty_SecuredDebenturesOneMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_SecuredDebenturesOneMember_lbl" xml:lang="en-US"> Secured Debentures [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LocationOfIncomeStatementAxis" xlink:label="forty_LocationOfIncomeStatementAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LocationOfIncomeStatementAxis" xlink:to="forty_LocationOfIncomeStatementAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LocationOfIncomeStatementAxis_lbl" xml:lang="en-US"> Location Of Income Statement [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CostOfRevenuesMember" xlink:label="forty_CostOfRevenuesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CostOfRevenuesMember" xlink:to="forty_CostOfRevenuesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CostOfRevenuesMember_lbl" xml:lang="en-US"> Cost Of Revenues [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ResearchAndDevelopmentExpensesMember" xlink:label="forty_ResearchAndDevelopmentExpensesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ResearchAndDevelopmentExpensesMember" xlink:to="forty_ResearchAndDevelopmentExpensesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ResearchAndDevelopmentExpensesMember_lbl" xml:lang="en-US"> Research And Development Expenses [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SellingAndMarketingExpensesMember" xlink:label="forty_SellingAndMarketingExpensesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SellingAndMarketingExpensesMember" xlink:to="forty_SellingAndMarketingExpensesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SellingAndMarketingExpensesMember_lbl" xml:lang="en-US"> Selling And Marketing Expenses [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GeneralAndAdministrativeExpensesMember" xlink:label="forty_GeneralAndAdministrativeExpensesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GeneralAndAdministrativeExpensesMember" xlink:to="forty_GeneralAndAdministrativeExpensesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_GeneralAndAdministrativeExpensesMember_lbl" xml:lang="en-US"> General And Administrative Expenses [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MagicPlansMember" xlink:label="forty_MagicPlansMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MagicPlansMember" xlink:to="forty_MagicPlansMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MagicPlansMember_lbl" xml:lang="en-US"> Magic Plans [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GutmanMember" xlink:label="forty_GutmanMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GutmanMember" xlink:to="forty_GutmanMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_GutmanMember_lbl" xml:lang="en-US"> Gutman [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaturityAxis" xlink:label="ifrs-full_MaturityAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_MaturityAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MaturityAxis_lbl" xml:lang="en-US"> Maturity [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="ifrs-full_NotLaterThanOneYearMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotLaterThanOneYearMember" xlink:to="ifrs-full_NotLaterThanOneYearMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotLaterThanOneYearMember_lbl" xml:lang="en-US"> Not later than one year [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl" xml:lang="en-US"> Later than one year and not later than two years [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl" xml:lang="en-US"> Later than two years and not later than three years [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_lbl" xml:lang="en-US"> Later than three years and not later than four years [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl" xml:lang="en-US"> Later than four years and not later than five years [member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DebenturesNameAxis" xlink:label="forty_DebenturesNameAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DebenturesNameAxis" xlink:to="forty_DebenturesNameAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DebenturesNameAxis_lbl" xml:lang="en-US"> Debentures Name [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SecuredDebenturesSeriesMember" xlink:label="forty_SecuredDebenturesSeriesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SecuredDebenturesSeriesMember" xlink:to="forty_SecuredDebenturesSeriesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SecuredDebenturesSeriesMember_lbl" xml:lang="en-US"> Secured Debentures Series [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_CurrencyAxis" xlink:label="srt_CurrencyAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CurrencyAxis" xlink:to="srt_CurrencyAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_CurrencyAxis_lbl" xml:lang="en-US"> All Currency [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NISMember" xlink:label="forty_NISMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NISMember" xlink:to="forty_NISMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NISMember_lbl" xml:lang="en-US"> NIS [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CreditFacilityAgreementsAxis" xlink:label="forty_CreditFacilityAgreementsAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CreditFacilityAgreementsAxis" xlink:to="forty_CreditFacilityAgreementsAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CreditFacilityAgreementsAxis_lbl" xml:lang="en-US"> Credit Facility Agreements [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis" xlink:label="ifrs-full_ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis" xlink:to="ifrs-full_ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis_lbl" xml:lang="en-US"> Continuing involvement in derecognised financial assets by type of instrument [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_GuaranteesMember" xlink:label="us-gaap_GuaranteesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GuaranteesMember" xlink:to="us-gaap_GuaranteesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GuaranteesMember_lbl" xml:lang="en-US"> Guarantees [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TypeOfCustomersAxis" xlink:label="forty_TypeOfCustomersAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TypeOfCustomersAxis" xlink:to="forty_TypeOfCustomersAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TypeOfCustomersAxis_lbl" xml:lang="en-US"> Type Of Customers [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CustomersAndSuppliersMember" xlink:label="forty_CustomersAndSuppliersMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CustomersAndSuppliersMember" xlink:to="forty_CustomersAndSuppliersMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CustomersAndSuppliersMember_lbl" xml:lang="en-US"> Customers And Suppliers [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OfficesMember" xlink:label="forty_OfficesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OfficesMember" xlink:to="forty_OfficesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OfficesMember_lbl" xml:lang="en-US"> Offices [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ContractsWithCustomersMember" xlink:label="forty_ContractsWithCustomersMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ContractsWithCustomersMember" xlink:to="forty_ContractsWithCustomersMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ContractsWithCustomersMember_lbl" xml:lang="en-US"> Contracts With Customers [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FormulaMember" xlink:label="forty_FormulaMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FormulaMember" xlink:to="forty_FormulaMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FormulaMember_lbl" xml:lang="en-US"> Formula [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LegalProceedingsMember" xlink:label="forty_LegalProceedingsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LegalProceedingsMember" xlink:to="forty_LegalProceedingsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LegalProceedingsMember_lbl" xml:lang="en-US"> Legal Proceedings [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PreferredTechnologyEnterpriseMember" xlink:label="forty_PreferredTechnologyEnterpriseMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PreferredTechnologyEnterpriseMember" xlink:to="forty_PreferredTechnologyEnterpriseMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PreferredTechnologyEnterpriseMember_lbl" xml:lang="en-US"> Preferred Technology Enterprise [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SoftwareSolutionsAndServicesInIsraelMember" xlink:label="forty_SoftwareSolutionsAndServicesInIsraelMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SoftwareSolutionsAndServicesInIsraelMember" xlink:to="forty_SoftwareSolutionsAndServicesInIsraelMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SoftwareSolutionsAndServicesInIsraelMember_lbl" xml:lang="en-US"> Software Solutions And Services In Israel [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SoftwareSolutionsAndServicesInUnitedStatusMember" xlink:label="forty_SoftwareSolutionsAndServicesInUnitedStatusMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SoftwareSolutionsAndServicesInUnitedStatusMember" xlink:to="forty_SoftwareSolutionsAndServicesInUnitedStatusMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SoftwareSolutionsAndServicesInUnitedStatusMember_lbl" xml:lang="en-US"> Software Solutions And Services In United Status [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LearningAndIntegrationMember" xlink:label="forty_LearningAndIntegrationMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LearningAndIntegrationMember" xlink:to="forty_LearningAndIntegrationMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LearningAndIntegrationMember_lbl" xml:lang="en-US"> Learning And Integration [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ComputerInfrastructureAndIntegrationSolutionsMember" xlink:label="forty_ComputerInfrastructureAndIntegrationSolutionsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ComputerInfrastructureAndIntegrationSolutionsMember" xlink:to="forty_ComputerInfrastructureAndIntegrationSolutionsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ComputerInfrastructureAndIntegrationSolutionsMember_lbl" xml:lang="en-US"> Computer Infrastructure And Integration Solutions [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SoftwareProductMarketingAndSupportMember" xlink:label="forty_SoftwareProductMarketingAndSupportMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SoftwareProductMarketingAndSupportMember" xlink:to="forty_SoftwareProductMarketingAndSupportMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SoftwareProductMarketingAndSupportMember_lbl" xml:lang="en-US"> Software Product Marketing And Support [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionalPaidinCapitalMember" xlink:label="ifrs-full_AdditionalPaidinCapitalMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalPaidinCapitalMember" xlink:to="ifrs-full_AdditionalPaidinCapitalMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdditionalPaidinCapitalMember_lbl" xml:lang="en-US"> Additional paid-in capital </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RetainedEarningsMember" xlink:label="ifrs-full_RetainedEarningsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarningsMember" xlink:to="ifrs-full_RetainedEarningsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xml:lang="en-US"> Retained Earnings </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangeAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_RangeAxis_lbl" xml:lang="en-US"> Ranges [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PledgeAxis" xlink:label="forty_PledgeAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PledgeAxis" xlink:to="forty_PledgeAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PledgeAxis_lbl" xml:lang="en-US"> Pledge [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_EURMember" xlink:label="forty_EURMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EURMember" xlink:to="forty_EURMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_EURMember_lbl" xml:lang="en-US"> EUR [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TypesOfCurrencyAxis" xlink:label="forty_TypesOfCurrencyAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TypesOfCurrencyAxis" xlink:to="forty_TypesOfCurrencyAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TypesOfCurrencyAxis_lbl" xml:lang="en-US"> Types Of Currency [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TypeOfInvesteeAxis" xlink:label="forty_TypeOfInvesteeAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TypeOfInvesteeAxis" xlink:to="forty_TypeOfInvesteeAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TypeOfInvesteeAxis_lbl" xml:lang="en-US"> Type Of Investee [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ComputersSoftwareAndPeripheralEquipmentMember" xlink:label="forty_ComputersSoftwareAndPeripheralEquipmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ComputersSoftwareAndPeripheralEquipmentMember" xlink:to="forty_ComputersSoftwareAndPeripheralEquipmentMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ComputersSoftwareAndPeripheralEquipmentMember_lbl" xml:lang="en-US"> Computers Software And Peripheral Equipment [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OfficeEquipmentMember" xlink:label="ifrs-full_OfficeEquipmentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OfficeEquipmentMember" xlink:to="ifrs-full_OfficeEquipmentMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OfficeEquipmentMember_lbl" xml:lang="en-US"> Office Equipment [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AdaptikCorporationMember" xlink:label="forty_AdaptikCorporationMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdaptikCorporationMember" xlink:to="forty_AdaptikCorporationMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AdaptikCorporationMember_lbl" xml:lang="en-US"> Adaptik Corporation [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AliusGroupIncMember" xlink:label="forty_AliusGroupIncMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AliusGroupIncMember" xlink:to="forty_AliusGroupIncMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AliusGroupIncMember_lbl" xml:lang="en-US"> Alius Group Inc [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PleasantValleyBusinessSolutionsLlcMember" xlink:label="forty_PleasantValleyBusinessSolutionsLlcMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PleasantValleyBusinessSolutionsLlcMember" xlink:to="forty_PleasantValleyBusinessSolutionsLlcMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PleasantValleyBusinessSolutionsLlcMember_lbl" xml:lang="en-US"> Pleasant Valley Business Solutions, LLC [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_Cambium2014LtdMember" xlink:label="forty_Cambium2014LtdMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_Cambium2014LtdMember" xlink:to="forty_Cambium2014LtdMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_Cambium2014LtdMember_lbl" xml:lang="en-US"> Cambium (2014) Ltd. [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IntegritySoftware2011LtdMember" xlink:label="forty_IntegritySoftware2011LtdMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IntegritySoftware2011LtdMember" xlink:to="forty_IntegritySoftware2011LtdMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IntegritySoftware2011LtdMember_lbl" xml:lang="en-US"> Integrity Software 2011 Ltd. [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NoahTechnologiesLtdMember" xlink:label="forty_NoahTechnologiesLtdMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NoahTechnologiesLtdMember" xlink:to="forty_NoahTechnologiesLtdMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NoahTechnologiesLtdMember_lbl" xml:lang="en-US"> Noah Technologies Ltd. [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:label="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis_lbl" xml:lang="en-US"> Classes of intangible assets and goodwill [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CustomerRelationshipAndBacklogMember" xlink:label="forty_CustomerRelationshipAndBacklogMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CustomerRelationshipAndBacklogMember" xlink:to="forty_CustomerRelationshipAndBacklogMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CustomerRelationshipAndBacklogMember_lbl" xml:lang="en-US"> Customer relationship and backlog [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AcquiredTechnologyMember" xlink:label="forty_AcquiredTechnologyMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AcquiredTechnologyMember" xlink:to="forty_AcquiredTechnologyMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AcquiredTechnologyMember_lbl" xml:lang="en-US"> Acquired technology [member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_BrandNamesAndPatentsMember" xlink:label="forty_BrandNamesAndPatentsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BrandNamesAndPatentsMember" xlink:to="forty_BrandNamesAndPatentsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_BrandNamesAndPatentsMember_lbl" xml:lang="en-US"> Brand names and patents [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:label="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:to="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis_lbl" xml:lang="en-US"> Retrospective application and retrospective restatement [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialEffectOfChangesInAccountingPolicyMember" xlink:label="ifrs-full_FinancialEffectOfChangesInAccountingPolicyMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialEffectOfChangesInAccountingPolicyMember" xlink:to="ifrs-full_FinancialEffectOfChangesInAccountingPolicyMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialEffectOfChangesInAccountingPolicyMember_lbl" xml:lang="en-US"> The change [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PreviouslyStatedMember" xlink:label="ifrs-full_PreviouslyStatedMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PreviouslyStatedMember" xlink:to="ifrs-full_PreviouslyStatedMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PreviouslyStatedMember_lbl" xml:lang="en-US"> According to the previous accounting policy [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsMember" xlink:label="ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsMember" xlink:to="ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsMember_lbl" xml:lang="en-US"> According to IFRS 15 [member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember" xlink:label="ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember" xlink:to="ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember_lbl" xml:lang="en-US"> According to the previous accounting policy [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComputerSoftwareMember" xlink:label="ifrs-full_ComputerSoftwareMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerSoftwareMember" xlink:to="ifrs-full_ComputerSoftwareMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComputerSoftwareMember_lbl" xml:lang="en-US"> Computer software [member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PartiesMember" xlink:label="forty_PartiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PartiesMember" xlink:to="forty_PartiesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PartiesMember_lbl" xml:lang="en-US"> Parties [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SoftwareProfessionalAndOutsourcedManagementServicesMember" xlink:label="forty_SoftwareProfessionalAndOutsourcedManagementServicesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SoftwareProfessionalAndOutsourcedManagementServicesMember" xlink:to="forty_SoftwareProfessionalAndOutsourcedManagementServicesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SoftwareProfessionalAndOutsourcedManagementServicesMember_lbl" xml:lang="en-US"> Software professional and outsourced management services [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ValueOfBusinessAcquiredMember" xlink:label="ifrs-full_ValueOfBusinessAcquiredMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ValueOfBusinessAcquiredMember" xlink:to="ifrs-full_ValueOfBusinessAcquiredMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ValueOfBusinessAcquiredMember_lbl" xml:lang="en-US"> Estimated fair values of assets acquired and liabilities [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CambiumLtdMember" xlink:label="forty_CambiumLtdMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CambiumLtdMember" xlink:to="forty_CambiumLtdMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_CambiumLtdMember_lbl" xml:lang="en-US"> Cambium (2014) Ltd. [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IntegritySoftwareLtdMember" xlink:label="forty_IntegritySoftwareLtdMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IntegritySoftwareLtdMember" xlink:to="forty_IntegritySoftwareLtdMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_IntegritySoftwareLtdMember_lbl" xml:lang="en-US"> Integrity Software 2011 Ltd. [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NoahTechnologiesLtdMember" xlink:to="forty_NoahTechnologiesLtdMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_NoahTechnologiesLtdMember_2_lbl" xml:lang="en-US"> Noah Technologies Ltd [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_BusinessAcquisitionReportDateAxis" xlink:label="forty_BusinessAcquisitionReportDateAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BusinessAcquisitionReportDateAxis" xlink:to="forty_BusinessAcquisitionReportDateAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_BusinessAcquisitionReportDateAxis_lbl" xml:lang="en-US"> Business Acquisition Report Date [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MarchTwoZeroTwoTwoMember" xlink:label="forty_MarchTwoZeroTwoTwoMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarchTwoZeroTwoTwoMember" xlink:to="forty_MarchTwoZeroTwoTwoMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MarchTwoZeroTwoTwoMember_lbl" xml:lang="en-US"> March 2022 [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:label="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:to="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_lbl" xml:lang="en-US"> Classes of intangible assets other than goodwill [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CustomerRelatedIntangibleAssetsMember" xlink:label="us-gaap_CustomerRelatedIntangibleAssetsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerRelatedIntangibleAssetsMember" xlink:to="us-gaap_CustomerRelatedIntangibleAssetsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CustomerRelatedIntangibleAssetsMember_lbl" xml:lang="en-US"> Customer related Intangible Assets [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TechnologybasedIntangibleAssetsMember" xlink:label="ifrs-full_TechnologybasedIntangibleAssetsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TechnologybasedIntangibleAssetsMember" xlink:to="ifrs-full_TechnologybasedIntangibleAssetsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TechnologybasedIntangibleAssetsMember_lbl" xml:lang="en-US"> Technology-based intangible assets [member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_BacklogAndNonCompeteAgreementMember" xlink:label="forty_BacklogAndNonCompeteAgreementMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BacklogAndNonCompeteAgreementMember" xlink:to="forty_BacklogAndNonCompeteAgreementMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_BacklogAndNonCompeteAgreementMember_lbl" xml:lang="en-US"> Backlog And Non-Compete Agreement Member [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherIntangibleAssetsMember" xlink:label="ifrs-full_OtherIntangibleAssetsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIntangibleAssetsMember" xlink:to="ifrs-full_OtherIntangibleAssetsMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherIntangibleAssetsMember_lbl" xml:lang="en-US"> Other intangible assets [member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PatentMember" xlink:label="forty_PatentMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PatentMember" xlink:to="forty_PatentMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PatentMember_lbl" xml:lang="en-US"> Patent [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SeriesCSecuredDebenturesMember" xlink:label="forty_SeriesCSecuredDebenturesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SeriesCSecuredDebenturesMember" xlink:to="forty_SeriesCSecuredDebenturesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SeriesCSecuredDebenturesMember_lbl" xml:lang="en-US"> Series C Secured Debentures [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TypeOfExercisePriceRangeAxis" xlink:label="forty_TypeOfExercisePriceRangeAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TypeOfExercisePriceRangeAxis" xlink:to="forty_TypeOfExercisePriceRangeAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TypeOfExercisePriceRangeAxis_lbl" xml:lang="en-US"> Type Of Exercise Price Range [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ExercisePriceRangeOneMember" xlink:label="forty_ExercisePriceRangeOneMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeOneMember" xlink:to="forty_ExercisePriceRangeOneMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ExercisePriceRangeOneMember_lbl" xml:lang="en-US"> Exercise Price Range One [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ExercisePriceRangeTwoMember" xlink:label="forty_ExercisePriceRangeTwoMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeTwoMember" xlink:to="forty_ExercisePriceRangeTwoMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ExercisePriceRangeTwoMember_lbl" xml:lang="en-US"> Exercise Price Range Two [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ExercisePriceRangeThreeMember" xlink:label="forty_ExercisePriceRangeThreeMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeThreeMember" xlink:to="forty_ExercisePriceRangeThreeMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ExercisePriceRangeThreeMember_lbl" xml:lang="en-US"> Exercise Price Range Three [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ExercisePriceRangeFourMember" xlink:label="forty_ExercisePriceRangeFourMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeFourMember" xlink:to="forty_ExercisePriceRangeFourMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ExercisePriceRangeFourMember_lbl" xml:lang="en-US"> Exercise Price Range Four [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ExercisePriceRangeFiveMember" xlink:label="forty_ExercisePriceRangeFiveMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeFiveMember" xlink:to="forty_ExercisePriceRangeFiveMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ExercisePriceRangeFiveMember_lbl" xml:lang="en-US"> Exercise Price Range Five [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ExercisePriceRangeSixMember" xlink:label="forty_ExercisePriceRangeSixMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeSixMember" xlink:to="forty_ExercisePriceRangeSixMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ExercisePriceRangeSixMember_lbl" xml:lang="en-US"> Exercise Price Range Six [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ExercisePriceRangeSevenMember" xlink:label="forty_ExercisePriceRangeSevenMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeSevenMember" xlink:to="forty_ExercisePriceRangeSevenMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ExercisePriceRangeSevenMember_lbl" xml:lang="en-US"> Exercise Price Range Seven [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ExercisePriceRangeEightMember" xlink:label="forty_ExercisePriceRangeEightMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeEightMember" xlink:to="forty_ExercisePriceRangeEightMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ExercisePriceRangeEightMember_lbl" xml:lang="en-US"> Exercise Price Range Eight [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ExercisePriceRangeNineMember" xlink:label="forty_ExercisePriceRangeNineMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeNineMember" xlink:to="forty_ExercisePriceRangeNineMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ExercisePriceRangeNineMember_lbl" xml:lang="en-US"> Exercise Price Range Nine [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl" xml:lang="en-US"> Non-adjusting events after reporting period [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_JanuaryTwoZeroOneNineMember" xlink:label="forty_JanuaryTwoZeroOneNineMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_JanuaryTwoZeroOneNineMember" xlink:to="forty_JanuaryTwoZeroOneNineMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_JanuaryTwoZeroOneNineMember_lbl" xml:lang="en-US"> January 2019 [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MarchTwoZeroOneNineMember" xlink:label="forty_MarchTwoZeroOneNineMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarchTwoZeroOneNineMember" xlink:to="forty_MarchTwoZeroOneNineMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MarchTwoZeroOneNineMember_lbl" xml:lang="en-US"> March 2019 [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ConvertibleDebenturesSeriesBMember" xlink:label="forty_ConvertibleDebenturesSeriesBMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ConvertibleDebenturesSeriesBMember" xlink:to="forty_ConvertibleDebenturesSeriesBMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ConvertibleDebenturesSeriesBMember_lbl" xml:lang="en-US"> Convertible Debentures Series B [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SapiensTechnologiesMember" xlink:label="forty_SapiensTechnologiesMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SapiensTechnologiesMember" xlink:to="forty_SapiensTechnologiesMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SapiensTechnologiesMember_lbl" xml:lang="en-US"> Sapiens Technologies [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CovenantMember" xlink:label="forty_CovenantMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CovenantMember" xlink:to="forty_CovenantMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CovenantMember_lbl" xml:lang="en-US"> Covenant [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CovenantOneMember" xlink:label="forty_CovenantOneMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CovenantOneMember" xlink:to="forty_CovenantOneMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CovenantOneMember_lbl" xml:lang="en-US"> Covenant One [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AfricaianMember" xlink:label="forty_AfricaianMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AfricaianMember" xlink:to="forty_AfricaianMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AfricaianMember_lbl" xml:lang="en-US"> Africaian [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_EventsAfterReportingPeriodMember" xlink:label="forty_EventsAfterReportingPeriodMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EventsAfterReportingPeriodMember" xlink:to="forty_EventsAfterReportingPeriodMember_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_EventsAfterReportingPeriodMember_lbl" xml:lang="en-US"> Events After Reporting Period [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DocumentAndEntityInformationAbstract" xlink:label="forty_DocumentAndEntityInformationAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DocumentAndEntityInformationAbstract" xlink:to="forty_DocumentAndEntityInformationAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DocumentAndEntityInformationAbstract_lbl" xml:lang="en-US"> Document and Entity Information [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US"> Entity Registrant Name </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US"> Entity Central Index Key </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US"> Trading Symbol </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US"> Amendment Flag </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US"> Current Fiscal Year End Date </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US"> Document Type </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US"> Document Period End Date </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US"> Document Fiscal Year Focus </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US"> Document Fiscal Period Focus </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US"> Entity Well-known Seasoned Issuer </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US"> Entity Voluntary Filers </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US"> Entity Current Reporting Status </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US"> Entity Filer Category </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US"> Entity Emerging Growth Company </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityExTransitionPeriod" xlink:label="dei_EntityExTransitionPeriod"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityExTransitionPeriod" xlink:to="dei_EntityExTransitionPeriod_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityExTransitionPeriod_lbl" xml:lang="en-US"> Entity Ex Transition Period </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityShellCompany_lbl" xml:lang="en-US"> Entity Shell Company </link:label>
<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US"> Entity Common Stock, Shares Outstanding </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfFinancialPositionAbstract" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfFinancialPositionAbstract" xlink:to="ifrs-full_StatementOfFinancialPositionAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US"> Statement of financial position [abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AssetsAbstract" xlink:label="ifrs-full_AssetsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_AssetsAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsAbstract_lbl" xml:lang="en-US"> ASSETS </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAssetsAbstract" xlink:label="ifrs-full_CurrentAssetsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsAbstract" xlink:to="ifrs-full_CurrentAssetsAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentAssetsAbstract_lbl" xml:lang="en-US"> CURRENT ASSETS: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en-US"> Cash and cash equivalents </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents_lbl" xml:lang="en-US"> Short-term deposits </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentInvestments" xlink:label="ifrs-full_CurrentInvestments"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentInvestments" xlink:to="ifrs-full_CurrentInvestments_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentInvestments_lbl" xml:lang="en-US"> Marketable securities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTradeReceivables" xlink:to="ifrs-full_CurrentTradeReceivables_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTradeReceivables_lbl" xml:lang="en-US"> Trade receivables (net of allowances for doubtful accounts of $6,051 and $5,195 as of December 31, 2017 and 2018, respectively) </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherCurrentNonfinancialAssets" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentNonfinancialAssets" xlink:to="ifrs-full_OtherCurrentNonfinancialAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets_lbl" xml:lang="en-US"> Prepaid expenses and other accounts receivable </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Inventories" xlink:label="ifrs-full_Inventories"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Inventories" xlink:to="ifrs-full_Inventories_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Inventories_lbl" xml:lang="en-US"> Inventories </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAssets" xlink:label="ifrs-full_CurrentAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_CurrentAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentAssets_lbl" xml:lang="en-US"> Total current assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentAssetsAbstract" xlink:label="ifrs-full_NoncurrentAssetsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsAbstract" xlink:to="ifrs-full_NoncurrentAssetsAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentAssetsAbstract_lbl" xml:lang="en-US"> LONG-TERM ASSETS: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NetDeferredTaxAssets" xlink:label="ifrs-full_NetDeferredTaxAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDeferredTaxAssets" xlink:to="ifrs-full_NetDeferredTaxAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetDeferredTaxAssets_lbl" xml:lang="en-US"> Deferred taxes </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherNoncurrentNonfinancialAssets" xlink:label="ifrs-full_OtherNoncurrentNonfinancialAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentNonfinancialAssets" xlink:to="ifrs-full_OtherNoncurrentNonfinancialAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherNoncurrentNonfinancialAssets_lbl" xml:lang="en-US"> Prepaid expenses and other accounts receivable </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_NoncurrentAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentAssets_lbl" xml:lang="en-US"> Total long-term assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:to="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl" xml:lang="en-US"> INVESTMENTS IN COMPANIES ACCOUNTED FOR AT EQUITY METHOD </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xml:lang="en-US"> PROPERTY, PLANTS AND EQUIPMENT, NET </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US"> INTANGIBLE ASSETS, NET </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Goodwill" xlink:label="ifrs-full_Goodwill"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Goodwill" xlink:to="ifrs-full_Goodwill_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Goodwill_lbl" xml:lang="en-US"> GOODWILL </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Assets_lbl" xml:lang="en-US"> Total assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAndLiabilitiesAbstract" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilitiesAbstract" xlink:to="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xml:lang="en-US"> LIABILITIES AND EQUITY </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentLiabilitiesAbstract" xlink:label="ifrs-full_CurrentLiabilitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilitiesAbstract" xlink:to="ifrs-full_CurrentLiabilitiesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentLiabilitiesAbstract_lbl" xml:lang="en-US"> CURRENT LIABILITIES: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentFinancialLiabilities" xlink:label="ifrs-full_CurrentFinancialLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentFinancialLiabilities" xlink:to="ifrs-full_CurrentFinancialLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentFinancialLiabilities_lbl" xml:lang="en-US"> Credit from banks and others </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:label="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:to="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl" xml:lang="en-US"> Debentures </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:to="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_lbl" xml:lang="en-US"> Trade payables </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredIncomeClassifiedAsCurrent" xlink:label="ifrs-full_DeferredIncomeClassifiedAsCurrent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredIncomeClassifiedAsCurrent" xlink:to="ifrs-full_DeferredIncomeClassifiedAsCurrent_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredIncomeClassifiedAsCurrent_lbl" xml:lang="en-US"> Deferred revenues </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccrualsClassifiedAsCurrent" xlink:label="ifrs-full_AccrualsClassifiedAsCurrent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccrualsClassifiedAsCurrent" xlink:to="ifrs-full_AccrualsClassifiedAsCurrent_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccrualsClassifiedAsCurrent_lbl" xml:lang="en-US"> Employees and payroll accrual </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherCurrentNonfinancialLiabilities" xlink:label="ifrs-full_OtherCurrentNonfinancialLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentNonfinancialLiabilities" xlink:to="ifrs-full_OtherCurrentNonfinancialLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCurrentNonfinancialLiabilities_lbl" xml:lang="en-US"> Other accounts payable </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentDividendPayables" xlink:label="ifrs-full_CurrentDividendPayables"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDividendPayables" xlink:to="ifrs-full_CurrentDividendPayables_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentDividendPayables_lbl" xml:lang="en-US"> Dividend payable </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CurrentLiabilitiesRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_CurrentLiabilitiesRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentLiabilitiesRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Liabilities in respect of business combinations </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherCurrentFinancialLiabilities" xlink:label="ifrs-full_OtherCurrentFinancialLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentFinancialLiabilities" xlink:to="ifrs-full_OtherCurrentFinancialLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCurrentFinancialLiabilities_lbl" xml:lang="en-US"> Put options of non-controlling interests </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentLiabilities" xlink:label="ifrs-full_CurrentLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CurrentLiabilities_lbl" xml:lang="en-US"> Total current liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentLiabilitiesAbstract" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilitiesAbstract" xlink:to="ifrs-full_NoncurrentLiabilitiesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract_lbl" xml:lang="en-US"> LONG-TERM LIABILITIES: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentFinancialLiabilities" xlink:label="ifrs-full_NoncurrentFinancialLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentFinancialLiabilities" xlink:to="ifrs-full_NoncurrentFinancialLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentFinancialLiabilities_lbl" xml:lang="en-US"> Loans from banks and others </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:label="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:to="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued_lbl" xml:lang="en-US"> Debentures </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherNoncurrentLiabilities" xlink:label="ifrs-full_OtherNoncurrentLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentLiabilities" xlink:to="ifrs-full_OtherNoncurrentLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherNoncurrentLiabilities_lbl" xml:lang="en-US"> Other long-term liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xml:lang="en-US"> Deferred taxes </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredIncomeClassifiedAsNoncurrent" xlink:label="ifrs-full_DeferredIncomeClassifiedAsNoncurrent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredIncomeClassifiedAsNoncurrent" xlink:to="ifrs-full_DeferredIncomeClassifiedAsNoncurrent_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DeferredIncomeClassifiedAsNoncurrent_lbl" xml:lang="en-US"> Deferred revenues </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_NoncurrentLiabilitiesRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_NoncurrentLiabilitiesRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentLiabilitiesRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Liability in respect of business combinations </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherNoncurrentNonfinancialLiabilities" xlink:label="ifrs-full_OtherNoncurrentNonfinancialLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentNonfinancialLiabilities" xlink:to="ifrs-full_OtherNoncurrentNonfinancialLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherNoncurrentNonfinancialLiabilities_lbl" xml:lang="en-US"> Put options of non-controlling interests </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:to="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl" xml:lang="en-US"> Employee benefit liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="ifrs-full_NoncurrentLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_NoncurrentLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentLiabilities_lbl" xml:lang="en-US"> Total long-term liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CommitmentAndContingencies" xlink:label="forty_CommitmentAndContingencies"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CommitmentAndContingencies" xlink:to="forty_CommitmentAndContingencies_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CommitmentAndContingencies_lbl" xml:lang="en-US"> COMMITMENTS AND CONTINGENCIES </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAbstract" xlink:label="ifrs-full_EquityAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAbstract" xlink:to="ifrs-full_EquityAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAbstract_lbl" xml:lang="en-US"> EQUITY </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CompanyEquityAbstract" xlink:label="forty_CompanyEquityAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CompanyEquityAbstract" xlink:to="forty_CompanyEquityAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CompanyEquityAbstract_lbl" xml:lang="en-US"> Formula Systems (1985) Ltd. shareholders’ equity: </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ShareCapitalAbstract" xlink:label="forty_ShareCapitalAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShareCapitalAbstract" xlink:to="forty_ShareCapitalAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ShareCapitalAbstract_lbl" xml:lang="en-US"> Share capital: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapital" xlink:label="ifrs-full_IssuedCapital"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapital" xlink:to="ifrs-full_IssuedCapital_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IssuedCapital_lbl" xml:lang="en-US"> Ordinary shares of NIS 1 par value - Authorized: 25,000,000 shares at December 31, 2017 and 2018; Issued: 15,307,402 and 15,318,958 at December 31, 2017 and 2018, respectively; Outstanding: 14,738,782 and 14,750,338 at December 31, 2017 and 2018, respectively </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionalPaidinCapital" xlink:label="ifrs-full_AdditionalPaidinCapital"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalPaidinCapital" xlink:to="ifrs-full_AdditionalPaidinCapital_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_AdditionalPaidinCapital_lbl" xml:lang="en-US"> Additional paid-in capital </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RetainedEarnings" xlink:label="ifrs-full_RetainedEarnings"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarnings" xlink:to="ifrs-full_RetainedEarnings_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RetainedEarnings_lbl" xml:lang="en-US"> Retained earnings </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl" xml:lang="en-US"> Accumulated other comprehensive income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TreasuryShares" xlink:label="ifrs-full_TreasuryShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TreasuryShares" xlink:to="ifrs-full_TreasuryShares_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_TreasuryShares_lbl" xml:lang="en-US"> Treasury shares (568,620 shares as of December 31, 2017 and 2018) </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl" xml:lang="en-US"> Total equity attributable to Formula Systems (1985) Ltd.'s shareholders </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncontrollingInterests" xlink:label="ifrs-full_NoncontrollingInterests"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterests" xlink:to="ifrs-full_NoncontrollingInterests_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xml:lang="en-US"> Non-controlling interests </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Equity" xlink:label="ifrs-full_Equity"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en-US"> Total equity </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAndLiabilities" xlink:label="ifrs-full_EquityAndLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAndLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xml:lang="en-US"> Total liabilities and equity </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_StatementOfFinancialPositionTable" xlink:label="forty_StatementOfFinancialPositionTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_StatementOfFinancialPositionTable" xlink:to="forty_StatementOfFinancialPositionTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_StatementOfFinancialPositionTable_lbl" xml:lang="en-US"> Statement Of Financial Position [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_StatementOfFinancialPositionLineItems" xlink:label="forty_StatementOfFinancialPositionLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_StatementOfFinancialPositionLineItems" xlink:to="forty_StatementOfFinancialPositionLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_StatementOfFinancialPositionLineItems_lbl" xml:lang="en-US"> Statement of Financial Position [Line Items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TypesOfCurrencyAxis" xlink:to="forty_TypesOfCurrencyAxis_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_TypesOfCurrencyAxis_2_lbl" xml:lang="en-US"> TypesOfCurrencyAxis [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProvisionsForDoubtfulDebtsRelatedToOutstandingBalancesOfRelatedPartyTransaction" xlink:label="ifrs-full_ProvisionsForDoubtfulDebtsRelatedToOutstandingBalancesOfRelatedPartyTransaction"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProvisionsForDoubtfulDebtsRelatedToOutstandingBalancesOfRelatedPartyTransaction" xlink:to="ifrs-full_ProvisionsForDoubtfulDebtsRelatedToOutstandingBalancesOfRelatedPartyTransaction_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProvisionsForDoubtfulDebtsRelatedToOutstandingBalancesOfRelatedPartyTransaction_lbl" xml:lang="en-US"> Allowances for doubtful accounts </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="ifrs-full_ParValuePerShare"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ParValuePerShare" xlink:to="ifrs-full_ParValuePerShare_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ParValuePerShare_lbl" xml:lang="en-US"> Ordinary shares, par value </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesAuthorised" xlink:label="ifrs-full_NumberOfSharesAuthorised"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesAuthorised" xlink:to="ifrs-full_NumberOfSharesAuthorised_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesAuthorised_lbl" xml:lang="en-US"> Ordinary shares, authorized </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="ifrs-full_NumberOfSharesIssued"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesIssued" xlink:to="ifrs-full_NumberOfSharesIssued_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesIssued_lbl" xml:lang="en-US"> Ordinary shares, issued </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="ifrs-full_NumberOfSharesOutstanding"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xml:lang="en-US"> Ordinary shares, outstanding </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NumberOfTreasurySharesOutstanding" xlink:label="forty_NumberOfTreasurySharesOutstanding"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfTreasurySharesOutstanding" xlink:to="forty_NumberOfTreasurySharesOutstanding_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NumberOfTreasurySharesOutstanding_lbl" xml:lang="en-US"> Number of treasury shares </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeStatementAbstract" xlink:label="ifrs-full_IncomeStatementAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeStatementAbstract" xlink:to="ifrs-full_IncomeStatementAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeStatementAbstract_lbl" xml:lang="en-US"> Profit or loss [abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueAbstract" xlink:label="ifrs-full_RevenueAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueAbstract" xlink:to="ifrs-full_RevenueAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueAbstract_lbl" xml:lang="en-US"> Revenues: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices" xlink:label="ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices" xlink:to="ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueFromRenderingOfInformationTechnologyConsultingServices_lbl" xml:lang="en-US"> Proprietary software products and related services </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices" xlink:label="ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices" xlink:to="ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueFromRenderingOfInformationTechnologyMaintenanceAndSupportServices_lbl" xml:lang="en-US"> Software services </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Revenue" xlink:to="ifrs-full_Revenue_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Revenue_lbl" xml:lang="en-US"> Total revenues </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CostOfSalesAbstract" xlink:label="forty_CostOfSalesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CostOfSalesAbstract" xlink:to="forty_CostOfSalesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CostOfSalesAbstract_lbl" xml:lang="en-US"> Cost of revenues: </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CostOfSalesOfTechnology" xlink:label="forty_CostOfSalesOfTechnology"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CostOfSalesOfTechnology" xlink:to="forty_CostOfSalesOfTechnology_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_CostOfSalesOfTechnology_lbl" xml:lang="en-US"> Proprietary software products and related services </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OtherSoftwareProductsAndRelatedServices" xlink:label="forty_OtherSoftwareProductsAndRelatedServices"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherSoftwareProductsAndRelatedServices" xlink:to="forty_OtherSoftwareProductsAndRelatedServices_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OtherSoftwareProductsAndRelatedServices_lbl" xml:lang="en-US"> Other software products and related services </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CostOfSales" xlink:label="ifrs-full_CostOfSales"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CostOfSales" xlink:to="ifrs-full_CostOfSales_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CostOfSales_lbl" xml:lang="en-US"> Total cost of revenues </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GrossProfit" xlink:label="ifrs-full_GrossProfit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_GrossProfit_lbl" xml:lang="en-US"> Gross profit </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ResearchAndDevelopmentExpense" xlink:label="ifrs-full_ResearchAndDevelopmentExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ResearchAndDevelopmentExpense" xlink:to="ifrs-full_ResearchAndDevelopmentExpense_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ResearchAndDevelopmentExpense_lbl" xml:lang="en-US"> Research and development expenses, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SellingGeneralAndAdministrativeExpense" xlink:to="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US"> Selling, marketing, general and administrative expenses </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="ifrs-full_ProfitLossFromOperatingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_ProfitLossFromOperatingActivities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLossFromOperatingActivities_lbl" xml:lang="en-US"> Operating income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinanceCosts" xlink:label="ifrs-full_FinanceCosts"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceCosts" xlink:to="ifrs-full_FinanceCosts_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinanceCosts_lbl" xml:lang="en-US"> Financial expenses </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinanceIncome" xlink:label="ifrs-full_FinanceIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncome" xlink:to="ifrs-full_FinanceIncome_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinanceIncome_lbl" xml:lang="en-US"> Financial income </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="forty_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="forty_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax_lbl" xml:lang="en-US"> Pre-tax income before share of profits of companies accounted for at equity, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xml:lang="en-US"> Taxes on income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xml:lang="en-US"> Share of profits of companies accounted for at equity, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en-US"> Net income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossAttributableToAbstract" xlink:label="ifrs-full_ProfitLossAttributableToAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToAbstract" xlink:to="ifrs-full_ProfitLossAttributableToAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToAbstract_lbl" xml:lang="en-US"> Attributable to: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:to="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xml:lang="en-US"> Equity holders of the Company </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xml:lang="en-US"> Non-controlling interests </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLoss_2_lbl" xml:lang="en-US"> Net income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareAbstract" xlink:label="ifrs-full_EarningsPerShareAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EarningsPerShareAbstract" xlink:to="ifrs-full_EarningsPerShareAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EarningsPerShareAbstract_lbl" xml:lang="en-US"> Net earnings per share attributable to equity holders of The Company </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BasicEarningsLossPerShare" xlink:label="ifrs-full_BasicEarningsLossPerShare"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShare" xlink:to="ifrs-full_BasicEarningsLossPerShare_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl" xml:lang="en-US"> Basic earnings per share </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DilutedEarningsLossPerShare" xlink:label="ifrs-full_DilutedEarningsLossPerShare"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShare" xlink:to="ifrs-full_DilutedEarningsLossPerShare_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DilutedEarningsLossPerShare_lbl" xml:lang="en-US"> Diluted earnings per share </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:label="ifrs-full_StatementOfComprehensiveIncomeAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:to="ifrs-full_StatementOfComprehensiveIncomeAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfComprehensiveIncomeAbstract_lbl" xml:lang="en-US"> Statement of comprehensive income [abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncomeAbstract" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract_lbl" xml:lang="en-US"> Other comprehensive income (loss) net of tax effect: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xml:lang="en-US"> Amounts that will not be reclassified subsequently to profit or loss: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl" xml:lang="en-US"> Actuarial gain (loss) from defined benefit plans </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xml:lang="en-US"> Share in other comprehensive income of joint venture </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xml:lang="en-US"> Amounts that will be or that have been reclassified to profit or loss when specific conditions are met: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax" xlink:label="ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax" xlink:to="ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax_lbl" xml:lang="en-US"> Unrealized gain (loss) on debt instruments at fair value through other comprehensive income, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets_lbl" xml:lang="en-US"> Amounts transferred to the statement of profit or loss for sale of debt instruments at fair value through other comprehensive income, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" xlink:to="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_lbl" xml:lang="en-US"> Foreign exchange differences on translation of foreign operations </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl" xml:lang="en-US"> Total other comprehensive income (loss), net of tax </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ifrs-full_ComprehensiveIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ComprehensiveIncome_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xml:lang="en-US"> Total Comprehensive income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl" xml:lang="en-US"> Total comprehensive income attributable to: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" xml:lang="en-US"> Equity holders of the Company </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xml:lang="en-US"> Non-controlling interests </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ComprehensiveIncome_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncome_2_lbl" xml:lang="en-US"> Total comprehensive income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfChangesInEquityTable" xlink:label="ifrs-full_StatementOfChangesInEquityTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityTable" xlink:to="ifrs-full_StatementOfChangesInEquityTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfChangesInEquityTable_lbl" xml:lang="en-US"> Statement of changes in equity [table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfChangesInEquityLineItems" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityLineItems" xlink:to="ifrs-full_StatementOfChangesInEquityLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems_lbl" xml:lang="en-US"> Statement of changes in equity [line items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapitalMember" xlink:to="ifrs-full_IssuedCapitalMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_IssuedCapitalMember_2_lbl" xml:lang="en-US"> Share Capital </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarningsMember" xlink:to="ifrs-full_RetainedEarningsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_RetainedEarningsMember_2_lbl" xml:lang="en-US"> Retained earnings </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_2_lbl" xml:lang="en-US"> Accumulated other comprehensive income (loss) </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TreasurySharesMember" xlink:to="ifrs-full_TreasurySharesMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_TreasurySharesMember_2_lbl" xml:lang="en-US"> Treasury shares (cost) </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterestsMember" xlink:to="ifrs-full_NoncontrollingInterestsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncontrollingInterestsMember_2_lbl" xml:lang="en-US"> Non-controlling interests </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_Equity_2_lbl" xml:lang="en-US"> Beginning balance </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_NumberOfSharesOutstanding_2_lbl" xml:lang="en-US"> Beginning balance, Shares </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ImpactOfAdoptionOfIfrs15" xlink:label="forty_ImpactOfAdoptionOfIfrs15"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ImpactOfAdoptionOfIfrs15" xlink:to="forty_ImpactOfAdoptionOfIfrs15_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ImpactOfAdoptionOfIfrs15_lbl" xml:lang="en-US"> Impact of the adoption of IFRS 15 </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_EquityIncludingImpactOfAdoptionOfIfrs15" xlink:label="forty_EquityIncludingImpactOfAdoptionOfIfrs15"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EquityIncludingImpactOfAdoptionOfIfrs15" xlink:to="forty_EquityIncludingImpactOfAdoptionOfIfrs15_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_EquityIncludingImpactOfAdoptionOfIfrs15_lbl" xml:lang="en-US"> Balance as of January 1, 2018 (Including the impact of the adoption of IFRS 15) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NumberOfSharesIncludingImpactOfAdoptionOfIfrs15" xlink:label="forty_NumberOfSharesIncludingImpactOfAdoptionOfIfrs15"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfSharesIncludingImpactOfAdoptionOfIfrs15" xlink:to="forty_NumberOfSharesIncludingImpactOfAdoptionOfIfrs15_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NumberOfSharesIncludingImpactOfAdoptionOfIfrs15_lbl" xml:lang="en-US"> Balance as of January 1, 2018 (Including the impact of the adoption of IFRS 15), Shares </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ProfitLossIncludingNoncontrollingInterest" xlink:label="forty_ProfitLossIncludingNoncontrollingInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ProfitLossIncludingNoncontrollingInterest" xlink:to="forty_ProfitLossIncludingNoncontrollingInterest_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ProfitLossIncludingNoncontrollingInterest_lbl" xml:lang="en-US"> Net income </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GainsLossesOnExchangeDifferenceOnTranslationNetOfTax" xlink:label="forty_GainsLossesOnExchangeDifferenceOnTranslationNetOfTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GainsLossesOnExchangeDifferenceOnTranslationNetOfTax" xlink:to="forty_GainsLossesOnExchangeDifferenceOnTranslationNetOfTax_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_GainsLossesOnExchangeDifferenceOnTranslationNetOfTax_lbl" xml:lang="en-US"> Foreign currency translation reserve </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_2_lbl" xml:lang="en-US"> Actuarial gain loss from defined benefit plans </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_UnrealizedGainLossOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncomeNet" xlink:label="forty_UnrealizedGainLossOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncomeNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UnrealizedGainLossOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncomeNet" xlink:to="forty_UnrealizedGainLossOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncomeNet_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_UnrealizedGainLossOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncomeNet_lbl" xml:lang="en-US"> Unrealized gain loss on debt instruments at fair value through other comprehensive income, net </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RealizedGainOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome" xlink:label="forty_RealizedGainOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RealizedGainOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome" xlink:to="forty_RealizedGainOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RealizedGainOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome_lbl" xml:lang="en-US"> Realized gain loss on debt instruments at fair value through other comprehensive income, net </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OtherComprehensivesIncome" xlink:label="forty_OtherComprehensivesIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherComprehensivesIncome" xlink:to="forty_OtherComprehensivesIncome_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OtherComprehensivesIncome_lbl" xml:lang="en-US"> Total other comprehensive income (loss) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ComprehensiveIncomeIncludingNoncontrollingInterest" xlink:label="forty_ComprehensiveIncomeIncludingNoncontrollingInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ComprehensiveIncomeIncludingNoncontrollingInterest" xlink:to="forty_ComprehensiveIncomeIncludingNoncontrollingInterest_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ComprehensiveIncomeIncludingNoncontrollingInterest_lbl" xml:lang="en-US"> Total comprehensive income (loss) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IssuanceOfRestrictedSharesToEmployees" xlink:label="forty_IssuanceOfRestrictedSharesToEmployees"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuanceOfRestrictedSharesToEmployees" xlink:to="forty_IssuanceOfRestrictedSharesToEmployees_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IssuanceOfRestrictedSharesToEmployees_lbl" xml:lang="en-US"> Issuance of restricted shares to employees </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IssuanceOfRestrictedSharesToEmployeesShares" xlink:label="forty_IssuanceOfRestrictedSharesToEmployeesShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuanceOfRestrictedSharesToEmployeesShares" xlink:to="forty_IssuanceOfRestrictedSharesToEmployeesShares_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IssuanceOfRestrictedSharesToEmployeesShares_lbl" xml:lang="en-US"> Issuance of restricted shares to employees, shares </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IssuanceOfSharesUponConversionOfConvertibleDebentures" xlink:label="forty_IssuanceOfSharesUponConversionOfConvertibleDebentures"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuanceOfSharesUponConversionOfConvertibleDebentures" xlink:to="forty_IssuanceOfSharesUponConversionOfConvertibleDebentures_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IssuanceOfSharesUponConversionOfConvertibleDebentures_lbl" xml:lang="en-US"> Issuance of shares upon conversion of convertible debentures </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IssuanceOfSharesUponConversionOfConvertibleDebenturesShares" xlink:label="forty_IssuanceOfSharesUponConversionOfConvertibleDebenturesShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuanceOfSharesUponConversionOfConvertibleDebenturesShares" xlink:to="forty_IssuanceOfSharesUponConversionOfConvertibleDebenturesShares_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IssuanceOfSharesUponConversionOfConvertibleDebenturesShares_lbl" xml:lang="en-US"> Issuance of shares upon conversion of convertible debentures, shares </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl" xml:lang="en-US"> Cost of share-based payment (Note 17) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DividendToFormulasShareholders" xlink:label="forty_DividendToFormulasShareholders"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendToFormulasShareholders" xlink:to="forty_DividendToFormulasShareholders_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DividendToFormulasShareholders_lbl" xml:lang="en-US"> Dividend to Formula's shareholders </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaidToNoncontrollingInterests" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterests"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidToNoncontrollingInterests" xlink:to="ifrs-full_DividendsPaidToNoncontrollingInterests_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterests_lbl" xml:lang="en-US"> Dividend to non-controlling interests in subsidiaries </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DilutionInFormulasShareInMagicDueToIssuanceOfMagicsOrdinaryShares" xlink:label="forty_DilutionInFormulasShareInMagicDueToIssuanceOfMagicsOrdinaryShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DilutionInFormulasShareInMagicDueToIssuanceOfMagicsOrdinaryShares" xlink:to="forty_DilutionInFormulasShareInMagicDueToIssuanceOfMagicsOrdinaryShares_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DilutionInFormulasShareInMagicDueToIssuanceOfMagicsOrdinaryShares_lbl" xml:lang="en-US"> Dilution in Formula's share in Magic due to issuance of Magic's ordinary shares </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NoncontrollingInterestsChangesDueToHoldingChangesIncludingExerciseOfEmployeesStockOptions" xlink:label="forty_NoncontrollingInterestsChangesDueToHoldingChangesIncludingExerciseOfEmployeesStockOptions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NoncontrollingInterestsChangesDueToHoldingChangesIncludingExerciseOfEmployeesStockOptions" xlink:to="forty_NoncontrollingInterestsChangesDueToHoldingChangesIncludingExerciseOfEmployeesStockOptions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NoncontrollingInterestsChangesDueToHoldingChangesIncludingExerciseOfEmployeesStockOptions_lbl" xml:lang="en-US"> Transactions with non-controlling interests due to holding changes, including exercise of employees stock options </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AcquisitionOfNoncontrollingInterests" xlink:label="forty_AcquisitionOfNoncontrollingInterests"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AcquisitionOfNoncontrollingInterests" xlink:to="forty_AcquisitionOfNoncontrollingInterests_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AcquisitionOfNoncontrollingInterests_lbl" xml:lang="en-US"> Acquisition of non-controlling interests </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NoncontrollingInterestsDueToExpirationOfPutOptions" xlink:label="forty_NoncontrollingInterestsDueToExpirationOfPutOptions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NoncontrollingInterestsDueToExpirationOfPutOptions" xlink:to="forty_NoncontrollingInterestsDueToExpirationOfPutOptions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NoncontrollingInterestsDueToExpirationOfPutOptions_lbl" xml:lang="en-US"> Non-controlling interests due to expiration of put options </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SettlementOfPutOptionsOverNoncontrollingInterests" xlink:label="forty_SettlementOfPutOptionsOverNoncontrollingInterests"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SettlementOfPutOptionsOverNoncontrollingInterests" xlink:to="forty_SettlementOfPutOptionsOverNoncontrollingInterests_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SettlementOfPutOptionsOverNoncontrollingInterests_lbl" xml:lang="en-US"> Settlement of put options over non-controlling interests </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies" xlink:label="forty_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies" xlink:to="forty_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies_lbl" xml:lang="en-US"> Non-controlling interests arising from initially consolidated companies </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_Equity_3_lbl" xml:lang="en-US"> Ending balance </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_NumberOfSharesOutstanding_3_lbl" xml:lang="en-US"> Ending balance, Shares </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_StatementOfOthersComprehensiveIncomeAbstract" xlink:label="forty_StatementOfOthersComprehensiveIncomeAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_StatementOfOthersComprehensiveIncomeAbstract" xlink:to="forty_StatementOfOthersComprehensiveIncomeAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_StatementOfOthersComprehensiveIncomeAbstract_lbl" xml:lang="en-US"> Statement Of Others Comprehensive Income [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssets" xlink:label="ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssets" xlink:to="ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReserveOfGainsAndLossesOnRemeasuringAvailableforsaleFinancialAssets_lbl" xml:lang="en-US"> Reserve from debt instruments at fair value through other comprehensive income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:to="ifrs-full_ReserveOfExchangeDifferencesOnTranslation_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation_lbl" xml:lang="en-US"> Foreign currency translation reserve </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReserveOfCashFlowHedges" xlink:label="ifrs-full_ReserveOfCashFlowHedges"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfCashFlowHedges" xlink:to="ifrs-full_ReserveOfCashFlowHedges_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReserveOfCashFlowHedges_lbl" xml:lang="en-US"> Reserve from derivatives </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmountRecognisedInOtherComprehensiveIncomeAndAccumulatedInEquityRelatingToNoncurrentAssetsOrDisposalGroupsHeldForSale" xlink:label="ifrs-full_AmountRecognisedInOtherComprehensiveIncomeAndAccumulatedInEquityRelatingToNoncurrentAssetsOrDisposalGroupsHeldForSale"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountRecognisedInOtherComprehensiveIncomeAndAccumulatedInEquityRelatingToNoncurrentAssetsOrDisposalGroupsHeldForSale" xlink:to="ifrs-full_AmountRecognisedInOtherComprehensiveIncomeAndAccumulatedInEquityRelatingToNoncurrentAssetsOrDisposalGroupsHeldForSale_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmountRecognisedInOtherComprehensiveIncomeAndAccumulatedInEquityRelatingToNoncurrentAssetsOrDisposalGroupsHeldForSale_lbl" xml:lang="en-US"> Share in other comprehensive loss of companies accounted for at equity, net </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AccumulatedOtherComprehensivesIncome" xlink:label="forty_AccumulatedOtherComprehensivesIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccumulatedOtherComprehensivesIncome" xlink:to="forty_AccumulatedOtherComprehensivesIncome_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="forty_AccumulatedOtherComprehensivesIncome_lbl" xml:lang="en-US"> Accumulated other comprehensive income (loss) </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:label="ifrs-full_StatementOfCashFlowsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfCashFlowsAbstract" xlink:to="ifrs-full_StatementOfCashFlowsAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US"> Statement of cash flows [abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US"> Cash flows from operating activities: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xml:lang="en-US"> Adjustments to reconcile net income to net cash provided by operating activities: </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AdjustmentsForEquityInLossesGainsOfCompaniesAccountedForAtEquity" xlink:label="forty_AdjustmentsForEquityInLossesGainsOfCompaniesAccountedForAtEquity"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForEquityInLossesGainsOfCompaniesAccountedForAtEquity" xlink:to="forty_AdjustmentsForEquityInLossesGainsOfCompaniesAccountedForAtEquity_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="forty_AdjustmentsForEquityInLossesGainsOfCompaniesAccountedForAtEquity_lbl" xml:lang="en-US"> Share of profits of companies accounted for at equity, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:to="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_lbl" xml:lang="en-US"> Depreciation and amortization </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AdjustmentsForIncreaseDecreaseInValueOfDebentures" xlink:label="forty_AdjustmentsForIncreaseDecreaseInValueOfDebentures"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForIncreaseDecreaseInValueOfDebentures" xlink:to="forty_AdjustmentsForIncreaseDecreaseInValueOfDebentures_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AdjustmentsForIncreaseDecreaseInValueOfDebentures_lbl" xml:lang="en-US"> Changes in value of debentures, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities_lbl" xml:lang="en-US"> Increase (decrease) in employee benefit liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:to="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_lbl" xml:lang="en-US"> Loss (gain) from sale of property, plants and equipment </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForSharebasedPayments" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForSharebasedPayments" xlink:to="ifrs-full_AdjustmentsForSharebasedPayments_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl" xml:lang="en-US"> Stock-based compensation expenses </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AdjustmentsForIncreaseDecreaseInValueOfShorttermAndLongTermLoansFromBanksAndOthersAndDepositsNet" xlink:label="forty_AdjustmentsForIncreaseDecreaseInValueOfShorttermAndLongTermLoansFromBanksAndOthersAndDepositsNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForIncreaseDecreaseInValueOfShorttermAndLongTermLoansFromBanksAndOthersAndDepositsNet" xlink:to="forty_AdjustmentsForIncreaseDecreaseInValueOfShorttermAndLongTermLoansFromBanksAndOthersAndDepositsNet_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AdjustmentsForIncreaseDecreaseInValueOfShorttermAndLongTermLoansFromBanksAndOthersAndDepositsNet_lbl" xml:lang="en-US"> Changes in value of short-term and long term loans from banks and others and deposits, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:to="ifrs-full_AdjustmentsForIncomeTaxExpense_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense_lbl" xml:lang="en-US"> Changes in deferred taxes, net </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AdjustmentsForIncreaseDecreaseInLiabilityInRespectOfBusinessCombinations" xlink:label="forty_AdjustmentsForIncreaseDecreaseInLiabilityInRespectOfBusinessCombinations"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForIncreaseDecreaseInLiabilityInRespectOfBusinessCombinations" xlink:to="forty_AdjustmentsForIncreaseDecreaseInLiabilityInRespectOfBusinessCombinations_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AdjustmentsForIncreaseDecreaseInLiabilityInRespectOfBusinessCombinations_lbl" xml:lang="en-US"> Change in liability in respect of business combinations </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AdjustmentsForGainLossFromSaleAndIncreaseInValueOfMarketableSecuritiesClassifiedAsTrading" xlink:label="forty_AdjustmentsForGainLossFromSaleAndIncreaseInValueOfMarketableSecuritiesClassifiedAsTrading"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForGainLossFromSaleAndIncreaseInValueOfMarketableSecuritiesClassifiedAsTrading" xlink:to="forty_AdjustmentsForGainLossFromSaleAndIncreaseInValueOfMarketableSecuritiesClassifiedAsTrading_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="forty_AdjustmentsForGainLossFromSaleAndIncreaseInValueOfMarketableSecuritiesClassifiedAsTrading_lbl" xml:lang="en-US"> Loss (gain) from sale and increase in value of marketable securities classified as trading </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AdjustmentsForAmortizationOfPremiumAndAccruedInterestOnMarketableSecurities" xlink:label="forty_AdjustmentsForAmortizationOfPremiumAndAccruedInterestOnMarketableSecurities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForAmortizationOfPremiumAndAccruedInterestOnMarketableSecurities" xlink:to="forty_AdjustmentsForAmortizationOfPremiumAndAccruedInterestOnMarketableSecurities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="forty_AdjustmentsForAmortizationOfPremiumAndAccruedInterestOnMarketableSecurities_lbl" xml:lang="en-US"> Amortization of premium and accrued interest on debt instruments at fair value through other comprehensive income </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AdjustmentsForRealizedGainLossFromSaleOfAvailableForSaleSecurities" xlink:label="forty_AdjustmentsForRealizedGainLossFromSaleOfAvailableForSaleSecurities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForRealizedGainLossFromSaleOfAvailableForSaleSecurities" xlink:to="forty_AdjustmentsForRealizedGainLossFromSaleOfAvailableForSaleSecurities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="forty_AdjustmentsForRealizedGainLossFromSaleOfAvailableForSaleSecurities_lbl" xml:lang="en-US"> Realized loss (gain) from sale of debt instruments at fair value through other comprehensive income </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AdjustmentsForDecreaseIncreaseInRedeemableNoncontrollingInterestsPutOptions" xlink:label="forty_AdjustmentsForDecreaseIncreaseInRedeemableNoncontrollingInterestsPutOptions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForDecreaseIncreaseInRedeemableNoncontrollingInterestsPutOptions" xlink:to="forty_AdjustmentsForDecreaseIncreaseInRedeemableNoncontrollingInterestsPutOptions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AdjustmentsForDecreaseIncreaseInRedeemableNoncontrollingInterestsPutOptions_lbl" xml:lang="en-US"> Change in non-controlling interests' put option </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ChangeInValueOfDividendPreferenceDerivativeInTsg" xlink:label="forty_ChangeInValueOfDividendPreferenceDerivativeInTsg"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ChangeInValueOfDividendPreferenceDerivativeInTsg" xlink:to="forty_ChangeInValueOfDividendPreferenceDerivativeInTsg_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ChangeInValueOfDividendPreferenceDerivativeInTsg_lbl" xml:lang="en-US"> Change in value of dividend preference derivative in TSG </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WorkingcapitaladjustmentsAbstract" xlink:label="forty_WorkingcapitaladjustmentsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WorkingcapitaladjustmentsAbstract" xlink:to="forty_WorkingcapitaladjustmentsAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WorkingcapitaladjustmentsAbstract_lbl" xml:lang="en-US"> Working capital adjustments: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories_lbl" xml:lang="en-US"> Decrease (increase) in inventories </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_lbl" xml:lang="en-US"> Increase in trade receivables </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl" xml:lang="en-US"> Decrease (increase) in other current and long-term accounts receivable </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable_lbl" xml:lang="en-US"> Increase in trade payables </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_lbl" xml:lang="en-US"> Increase in other accounts payable and employees and payroll accrual </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInDeferredIncome" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInDeferredIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInDeferredIncome" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInDeferredIncome_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInDeferredIncome_lbl" xml:lang="en-US"> Increase (decrease) in deferred revenues </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xml:lang="en-US"> Net cash provided by operating activities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US"> Cash flows from investing activities: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl" xml:lang="en-US"> Payments for business acquisitions, net of cash acquired (Appendix C) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CashPaidInConjunctionwithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCombinations" xlink:label="forty_CashPaidInConjunctionwithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCombinations"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CashPaidInConjunctionwithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCombinations" xlink:to="forty_CashPaidInConjunctionwithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCombinations_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="forty_CashPaidInConjunctionwithDeferredPaymentsAndContingentLiabilitiesRelatedToBusinessCombinations_lbl" xml:lang="en-US"> Cash paid in conjunction with deferred payments and contingent liabilities related to business combinations </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl" xml:lang="en-US"> Purchase of intangible assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xml:lang="en-US"> Purchase of property and equipment </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:to="ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod_lbl" xml:lang="en-US"> Proceeds from maturity and sale net of investment in debt instruments at fair value through other comprehensive income or loss, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xml:lang="en-US"> Proceeds from sale of property, plants and equipment </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PurchaseOfInvestmentInAndLoansToAffiliatesAndOtherCompanies" xlink:label="forty_PurchaseOfInvestmentInAndLoansToAffiliatesAndOtherCompanies"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PurchaseOfInvestmentInAndLoansToAffiliatesAndOtherCompanies" xlink:to="forty_PurchaseOfInvestmentInAndLoansToAffiliatesAndOtherCompanies_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="forty_PurchaseOfInvestmentInAndLoansToAffiliatesAndOtherCompanies_lbl" xml:lang="en-US"> Investment in and loans to affiliates and other companies </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:to="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents_lbl" xml:lang="en-US"> Change in restricted cash in other accounts receivable </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:to="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments_lbl" xml:lang="en-US"> Change in short-term and long-term deposits, net </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PaymentsForCapitalizationOfSoftwareDevelopmentAndOtherCosts" xlink:label="forty_PaymentsForCapitalizationOfSoftwareDevelopmentAndOtherCosts"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PaymentsForCapitalizationOfSoftwareDevelopmentAndOtherCosts" xlink:to="forty_PaymentsForCapitalizationOfSoftwareDevelopmentAndOtherCosts_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="forty_PaymentsForCapitalizationOfSoftwareDevelopmentAndOtherCosts_lbl" xml:lang="en-US"> Capitalization of software development and other costs </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en-US"> Net cash used in investing activities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US"> Cash flows from financing activities: </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromExerciseOfOptions" xlink:label="ifrs-full_ProceedsFromExerciseOfOptions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromExerciseOfOptions" xlink:to="ifrs-full_ProceedsFromExerciseOfOptions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromExerciseOfOptions_lbl" xml:lang="en-US"> Exercise of employees stock options in subsidiaries </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IssuanceOfOrdinarySharesNet" xlink:label="forty_IssuanceOfOrdinarySharesNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuanceOfOrdinarySharesNet" xlink:to="forty_IssuanceOfOrdinarySharesNet_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IssuanceOfOrdinarySharesNet_lbl" xml:lang="en-US"> Issuance of Magic's ordinary shares, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities" xlink:to="ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities_lbl" xml:lang="en-US"> Dividend paid to non-controlling interests </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" xlink:label="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" xlink:to="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities_lbl" xml:lang="en-US"> Dividend to Formula's shareholders </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_lbl" xml:lang="en-US"> Short-term bank credit, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_lbl" xml:lang="en-US"> Repayment of long-term loans from banks and others </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ReceiptOfLongTermLoans" xlink:label="forty_ReceiptOfLongTermLoans"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ReceiptOfLongTermLoans" xlink:to="forty_ReceiptOfLongTermLoans_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="forty_ReceiptOfLongTermLoans_lbl" xml:lang="en-US"> Receipt of long term loans </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:label="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:to="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_lbl" xml:lang="en-US"> Proceeds from issuance of debentures, net </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RepaymentOfLongTermLiabilitiesToOfficeOfTheChiefScientist" xlink:label="forty_RepaymentOfLongTermLiabilitiesToOfficeOfTheChiefScientist"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RepaymentOfLongTermLiabilitiesToOfficeOfTheChiefScientist" xlink:to="forty_RepaymentOfLongTermLiabilitiesToOfficeOfTheChiefScientist_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="forty_RepaymentOfLongTermLiabilitiesToOfficeOfTheChiefScientist_lbl" xml:lang="en-US"> Repayment of long-term liabilities to office of the chief scientist </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:label="ifrs-full_RepaymentsOfBondsNotesAndDebentures"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:to="ifrs-full_RepaymentsOfBondsNotesAndDebentures_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_RepaymentsOfBondsNotesAndDebentures_lbl" xml:lang="en-US"> Repayment of debentures </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests" xlink:label="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests" xlink:to="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests_lbl" xml:lang="en-US"> Purchase of non-controlling interests </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_lbl" xml:lang="en-US"> Repayment of capital lease </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CashPaidDueToExerciseofPutOptionByNoncontrollingInterests" xlink:label="forty_CashPaidDueToExerciseofPutOptionByNoncontrollingInterests"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CashPaidDueToExerciseofPutOptionByNoncontrollingInterests" xlink:to="forty_CashPaidDueToExerciseofPutOptionByNoncontrollingInterests_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="forty_CashPaidDueToExerciseofPutOptionByNoncontrollingInterests_lbl" xml:lang="en-US"> Cash paid due to exercise of put option by non-controlling interests </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DistributionToUltimateParentForABusinessAcquisitionUnderCommonControl" xlink:label="forty_DistributionToUltimateParentForABusinessAcquisitionUnderCommonControl"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DistributionToUltimateParentForABusinessAcquisitionUnderCommonControl" xlink:to="forty_DistributionToUltimateParentForABusinessAcquisitionUnderCommonControl_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DistributionToUltimateParentForABusinessAcquisitionUnderCommonControl_lbl" xml:lang="en-US"> Distribution to ultimate parent for a business acquisition under common control </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xml:lang="en-US"> Net cash provided by (used in) financing activities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xml:lang="en-US"> Effect of exchange rate changes on cash and cash equivalents </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents_lbl" xml:lang="en-US"> Increase (decrease) in cash and cash equivalents </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_CashAndCashEquivalents_2_lbl" xml:lang="en-US"> Cash and cash equivalents at beginning of year </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_CashAndCashEquivalents_3_lbl" xml:lang="en-US"> Cash and cash equivalents at end of year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SupplementalCashFlowInformationsAbstract" xlink:label="forty_SupplementalCashFlowInformationsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SupplementalCashFlowInformationsAbstract" xlink:to="forty_SupplementalCashFlowInformationsAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SupplementalCashFlowInformationsAbstract_lbl" xml:lang="en-US"> Supplemental cash flow information: </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CashPaidAbstract" xlink:label="forty_CashPaidAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CashPaidAbstract" xlink:to="forty_CashPaidAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CashPaidAbstract_lbl" xml:lang="en-US"> Cash paid (received) in respect of: </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_InterestsPaid" xlink:label="forty_InterestsPaid"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InterestsPaid" xlink:to="forty_InterestsPaid_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_InterestsPaid_lbl" xml:lang="en-US"> Interest paid </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_InterestReceived" xlink:label="forty_InterestReceived"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InterestReceived" xlink:to="forty_InterestReceived_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_InterestReceived_lbl" xml:lang="en-US"> Interest received </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TaxesPaidNet" xlink:label="forty_TaxesPaidNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TaxesPaidNet" xlink:to="forty_TaxesPaidNet_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TaxesPaidNet_lbl" xml:lang="en-US"> Taxes paid (received), net </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NonCashActivitiesAbstract" xlink:label="forty_NonCashActivitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NonCashActivitiesAbstract" xlink:to="forty_NonCashActivitiesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NonCashActivitiesAbstract_lbl" xml:lang="en-US"> Non-cash activities: </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DividendPayableToShareholders" xlink:label="forty_DividendPayableToShareholders"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPayableToShareholders" xlink:to="forty_DividendPayableToShareholders_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DividendPayableToShareholders_lbl" xml:lang="en-US"> Dividend payable to Formula's shareholders </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PurchaseOfPropertyAndEquipment" xlink:label="forty_PurchaseOfPropertyAndEquipment"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PurchaseOfPropertyAndEquipment" xlink:to="forty_PurchaseOfPropertyAndEquipment_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PurchaseOfPropertyAndEquipment_lbl" xml:lang="en-US"> Purchase of property and equipment </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DeferredPaymentRelatedtoBusinessCombinations" xlink:label="forty_DeferredPaymentRelatedtoBusinessCombinations"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredPaymentRelatedtoBusinessCombinations" xlink:to="forty_DeferredPaymentRelatedtoBusinessCombinations_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DeferredPaymentRelatedtoBusinessCombinations_lbl" xml:lang="en-US"> Deferred payment related to business combinations </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DividendPayableToRedeemableNoncontrollingInterests" xlink:label="forty_DividendPayableToRedeemableNoncontrollingInterests"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPayableToRedeemableNoncontrollingInterests" xlink:to="forty_DividendPayableToRedeemableNoncontrollingInterests_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DividendPayableToRedeemableNoncontrollingInterests_lbl" xml:lang="en-US"> Dividend payable to non-controlling interests </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment" xlink:label="ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment" xlink:to="ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment_lbl" xml:lang="en-US"> Disposal of property </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IssuanceOfFormulasOrdinarySharesAsResultOfConversionOfDebentures" xlink:label="forty_IssuanceOfFormulasOrdinarySharesAsResultOfConversionOfDebentures"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuanceOfFormulasOrdinarySharesAsResultOfConversionOfDebentures" xlink:to="forty_IssuanceOfFormulasOrdinarySharesAsResultOfConversionOfDebentures_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IssuanceOfFormulasOrdinarySharesAsResultOfConversionOfDebentures_lbl" xml:lang="en-US"> Issuance of Formula's ordinary shares as a result of conversion of debentures </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AcquisitionOfNewly-ConsolidatedSubsidiariesAndActivitiesNetOfCashAcquiredAbstract" xlink:label="forty_AcquisitionOfNewly-ConsolidatedSubsidiariesAndActivitiesNetOfCashAcquiredAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AcquisitionOfNewly-ConsolidatedSubsidiariesAndActivitiesNetOfCashAcquiredAbstract" xlink:to="forty_AcquisitionOfNewly-ConsolidatedSubsidiariesAndActivitiesNetOfCashAcquiredAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AcquisitionOfNewly-ConsolidatedSubsidiariesAndActivitiesNetOfCashAcquiredAbstract_lbl" xml:lang="en-US"> Acquisition of newly-consolidated subsidiaries and activities, net of cash acquired: </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AssetsAndLiabilitiesOfSubsidiariesConsolidatedAsOfAcquisitionDateAbstract" xlink:label="forty_AssetsAndLiabilitiesOfSubsidiariesConsolidatedAsOfAcquisitionDateAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AssetsAndLiabilitiesOfSubsidiariesConsolidatedAsOfAcquisitionDateAbstract" xlink:to="forty_AssetsAndLiabilitiesOfSubsidiariesConsolidatedAsOfAcquisitionDateAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AssetsAndLiabilitiesOfSubsidiariesConsolidatedAsOfAcquisitionDateAbstract_lbl" xml:lang="en-US"> Assets and liabilities of subsidiaries consolidated as of acquisition date: </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WorkingCapital" xlink:label="forty_WorkingCapital"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WorkingCapital" xlink:to="forty_WorkingCapital_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="forty_WorkingCapital_lbl" xml:lang="en-US"> Working capital (other than cash and cash equivalents) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PropertyAndEquipment" xlink:label="forty_PropertyAndEquipment"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PropertyAndEquipment" xlink:to="forty_PropertyAndEquipment_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PropertyAndEquipment_lbl" xml:lang="en-US"> Property and equipment </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GoodwillAndIntangibleAssets" xlink:label="forty_GoodwillAndIntangibleAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GoodwillAndIntangibleAssets" xlink:to="forty_GoodwillAndIntangibleAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_GoodwillAndIntangibleAssets_lbl" xml:lang="en-US"> Goodwill and intangible assets </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OtherLongTermAssets" xlink:label="forty_OtherLongTermAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherLongTermAssets" xlink:to="forty_OtherLongTermAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OtherLongTermAssets_lbl" xml:lang="en-US"> Other long-term assets </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LiabilitiesToBanksAndOthers" xlink:label="forty_LiabilitiesToBanksAndOthers"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LiabilitiesToBanksAndOthers" xlink:to="forty_LiabilitiesToBanksAndOthers_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="forty_LiabilitiesToBanksAndOthers_lbl" xml:lang="en-US"> Liabilities to banks and others </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermLiabilities" xlink:label="forty_LongTermLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermLiabilities" xlink:to="forty_LongTermLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="forty_LongTermLiabilities_lbl" xml:lang="en-US"> Long-term liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DeferredTaxLiability" xlink:label="forty_DeferredTaxLiability"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxLiability" xlink:to="forty_DeferredTaxLiability_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="forty_DeferredTaxLiability_lbl" xml:lang="en-US"> Deferred tax liability, net </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LiabilityToFormerlyShareholders" xlink:label="forty_LiabilityToFormerlyShareholders"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LiabilityToFormerlyShareholders" xlink:to="forty_LiabilityToFormerlyShareholders_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="forty_LiabilityToFormerlyShareholders_lbl" xml:lang="en-US"> Liability to formerly shareholders </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DeferredPaymentsandContingentConsideration" xlink:label="forty_DeferredPaymentsandContingentConsideration"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredPaymentsandContingentConsideration" xlink:to="forty_DeferredPaymentsandContingentConsideration_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DeferredPaymentsandContingentConsideration_lbl" xml:lang="en-US"> Deferred payments and contingent consideration </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RedeemableNonControllingInterestsAtAcquisitionDate" xlink:label="forty_RedeemableNonControllingInterestsAtAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RedeemableNonControllingInterestsAtAcquisitionDate" xlink:to="forty_RedeemableNonControllingInterestsAtAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RedeemableNonControllingInterestsAtAcquisitionDate_lbl" xml:lang="en-US"> Non-controlling interests at acquisition date </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AssetsAndLiabilitiesOfSubsidiariesConsolidatedAsOfAcquisitionDate" xlink:label="forty_AssetsAndLiabilitiesOfSubsidiariesConsolidatedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AssetsAndLiabilitiesOfSubsidiariesConsolidatedAsOfAcquisitionDate" xlink:to="forty_AssetsAndLiabilitiesOfSubsidiariesConsolidatedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="forty_AssetsAndLiabilitiesOfSubsidiariesConsolidatedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Total </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GeneralAbstract" xlink:label="forty_GeneralAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GeneralAbstract" xlink:to="forty_GeneralAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_GeneralAbstract_lbl" xml:lang="en-US"> General [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:to="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_lbl" xml:lang="en-US"> GENERAL </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SignificantAccountingPoliciesAbstract" xlink:label="forty_SignificantAccountingPoliciesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SignificantAccountingPoliciesAbstract" xlink:to="forty_SignificantAccountingPoliciesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SignificantAccountingPoliciesAbstract_lbl" xml:lang="en-US"> Significant Accounting Policies [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:label="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:to="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory_lbl" xml:lang="en-US"> SIGNIFICANT ACCOUNTING POLICIES </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsAbstract" xlink:label="ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsAbstract" xlink:to="ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsAbstract_lbl" xml:lang="en-US"> Disclosure of expected impact of initial application of new standards or interpretations [abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations" xlink:label="ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations" xlink:to="ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations_lbl" xml:lang="en-US"> NEW STANDARDS, INTERPRETATIONS AND AMENDMENTS ADOPTED BY THE GROUP </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfBusinessCombinationAbstract" xlink:label="forty_DisclosureOfBusinessCombinationAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfBusinessCombinationAbstract" xlink:to="forty_DisclosureOfBusinessCombinationAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfBusinessCombinationAbstract_lbl" xml:lang="en-US"> Business Combination, Significant Transaction and Sale of Business [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBusinessCombinationsExplanatory" xlink:to="ifrs-full_DisclosureOfBusinessCombinationsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsExplanatory_lbl" xml:lang="en-US"> BUSINESS COMBINATION, SIGNIFICANT TRANSACTION AND SALE OF BUSINESS </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfMarketableSecuritiesAbstract" xlink:label="forty_DisclosureOfMarketableSecuritiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfMarketableSecuritiesAbstract" xlink:to="forty_DisclosureOfMarketableSecuritiesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfMarketableSecuritiesAbstract_lbl" xml:lang="en-US"> Marketable Securities [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfDetailedInformationAboutMarketableSecuritiesExplanatoryTextBlock" xlink:label="forty_DisclosureOfDetailedInformationAboutMarketableSecuritiesExplanatoryTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutMarketableSecuritiesExplanatoryTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutMarketableSecuritiesExplanatoryTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfDetailedInformationAboutMarketableSecuritiesExplanatoryTextBlock_lbl" xml:lang="en-US"> MARKETABLE SECURITIES </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OtherAccountsReceivableAndPrepaidExpensesAbstract" xlink:label="forty_OtherAccountsReceivableAndPrepaidExpensesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherAccountsReceivableAndPrepaidExpensesAbstract" xlink:to="forty_OtherAccountsReceivableAndPrepaidExpensesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OtherAccountsReceivableAndPrepaidExpensesAbstract_lbl" xml:lang="en-US"> Other Accounts Receivable and Prepaid Expenses [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock" xlink:label="forty_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock" xlink:to="forty_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock_lbl" xml:lang="en-US"> PREPAID EXPESNES AND OTHER ACCOUNTS RECEIVAVABLE </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FairValueMeasurementAbstract" xlink:label="forty_FairValueMeasurementAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FairValueMeasurementAbstract" xlink:to="forty_FairValueMeasurementAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FairValueMeasurementAbstract_lbl" xml:lang="en-US"> Fair Value Measurement [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementExplanatory" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFairValueMeasurementExplanatory" xlink:to="ifrs-full_DisclosureOfFairValueMeasurementExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementExplanatory_lbl" xml:lang="en-US"> FAIR VALUE MEASUREMENT </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_InvestmentsInCompaniesAccountedForAtEquityMethodAbstract" xlink:label="forty_InvestmentsInCompaniesAccountedForAtEquityMethodAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InvestmentsInCompaniesAccountedForAtEquityMethodAbstract" xlink:to="forty_InvestmentsInCompaniesAccountedForAtEquityMethodAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_InvestmentsInCompaniesAccountedForAtEquityMethodAbstract_lbl" xml:lang="en-US"> Investments in Companies Accounted for at Equity Method [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:label="ifrs-full_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:to="ifrs-full_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory_lbl" xml:lang="en-US"> INVESTMENTS IN COMPANIES ACCOUNTED FOR AT EQUITY METHOD </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PropertyPlantAndEquipmentAbstract" xlink:label="ifrs-full_PropertyPlantAndEquipmentAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipmentAbstract" xlink:to="ifrs-full_PropertyPlantAndEquipmentAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PropertyPlantAndEquipmentAbstract_lbl" xml:lang="en-US"> Property, plant and equipment [abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory_lbl" xml:lang="en-US"> PROPERTY, PLANTS AND EQUIPMENT, NET </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IntangibleAssetsNetAbstract" xlink:label="forty_IntangibleAssetsNetAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IntangibleAssetsNetAbstract" xlink:to="forty_IntangibleAssetsNetAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IntangibleAssetsNetAbstract_lbl" xml:lang="en-US"> Intangible Assets, Net [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsExplanatory_lbl" xml:lang="en-US"> INTANGIBLE ASSETS, NET </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GoodwillAbstract" xlink:label="forty_GoodwillAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GoodwillAbstract" xlink:to="forty_GoodwillAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_GoodwillAbstract_lbl" xml:lang="en-US"> Goodwill [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfGoodwillExplanatory" xlink:label="ifrs-full_DisclosureOfGoodwillExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGoodwillExplanatory" xlink:to="ifrs-full_DisclosureOfGoodwillExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DisclosureOfGoodwillExplanatory_lbl" xml:lang="en-US"> GOODWILL </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ShortTermLiabilitiesToBanksAndOthersAbstract" xlink:label="forty_ShortTermLiabilitiesToBanksAndOthersAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShortTermLiabilitiesToBanksAndOthersAbstract" xlink:to="forty_ShortTermLiabilitiesToBanksAndOthersAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ShortTermLiabilitiesToBanksAndOthersAbstract_lbl" xml:lang="en-US"> Short Term Liabilities to Banks and Others [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory_lbl" xml:lang="en-US"> SHORT TERM LIABILITIES TO BANKS AND OTHERS </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OtherAccountsPayableAbstract" xlink:label="forty_OtherAccountsPayableAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherAccountsPayableAbstract" xlink:to="forty_OtherAccountsPayableAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OtherAccountsPayableAbstract_lbl" xml:lang="en-US"> Other Accounts Payable [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OtherAccountsPayableTextBlock" xlink:label="forty_OtherAccountsPayableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherAccountsPayableTextBlock" xlink:to="forty_OtherAccountsPayableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OtherAccountsPayableTextBlock_lbl" xml:lang="en-US"> OTHER ACCOUNTS PAYABLE </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermLiabilitiesToBanksAndOthersAbstract" xlink:label="forty_LongTermLiabilitiesToBanksAndOthersAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermLiabilitiesToBanksAndOthersAbstract" xlink:to="forty_LongTermLiabilitiesToBanksAndOthersAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LongTermLiabilitiesToBanksAndOthersAbstract_lbl" xml:lang="en-US"> Long Term Liabilities to Banks and Others [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfOtherLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfOtherLiabilitiesExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOtherLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfOtherLiabilitiesExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfOtherLiabilitiesExplanatory_lbl" xml:lang="en-US"> LONG TERM LIABILITIES TO BANKS AND OTHERS </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DebenturesAbstract" xlink:label="forty_DebenturesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DebenturesAbstract" xlink:to="forty_DebenturesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DebenturesAbstract_lbl" xml:lang="en-US"> Debentures [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfDebenturesTextBlock" xlink:label="forty_DisclosureOfDebenturesTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDebenturesTextBlock" xlink:to="forty_DisclosureOfDebenturesTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfDebenturesTextBlock_lbl" xml:lang="en-US"> DEBENTURES </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RelatedPartyTransactionsAbstract" xlink:label="ifrs-full_RelatedPartyTransactionsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RelatedPartyTransactionsAbstract" xlink:to="ifrs-full_RelatedPartyTransactionsAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RelatedPartyTransactionsAbstract_lbl" xml:lang="en-US"> Related party transactions [abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:to="ifrs-full_DisclosureOfRelatedPartyExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory_lbl" xml:lang="en-US"> RELATED PARTIES TRANSACTIONS </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_EmployeeOptionPlansAbstract" xlink:label="forty_EmployeeOptionPlansAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EmployeeOptionPlansAbstract" xlink:to="forty_EmployeeOptionPlansAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_EmployeeOptionPlansAbstract_lbl" xml:lang="en-US"> Employee Option Plans [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfEmployeeOptionPlansExplanatoryTextBlock" xlink:label="forty_DisclosureOfEmployeeOptionPlansExplanatoryTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfEmployeeOptionPlansExplanatoryTextBlock" xlink:to="forty_DisclosureOfEmployeeOptionPlansExplanatoryTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfEmployeeOptionPlansExplanatoryTextBlock_lbl" xml:lang="en-US"> EMPLOYEE OPTION PLANS </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDefinedBenefitPlansAbstract" xlink:label="ifrs-full_DisclosureOfDefinedBenefitPlansAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDefinedBenefitPlansAbstract" xlink:to="ifrs-full_DisclosureOfDefinedBenefitPlansAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDefinedBenefitPlansAbstract_lbl" xml:lang="en-US"> Disclosure of defined benefit plans [abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfEmployeeBenefitsExplanatory" xlink:label="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory" xlink:to="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory_lbl" xml:lang="en-US"> EMPLOYEE BENEFIT LIABILITIES </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfCommitmentsAndContingenciesAbstract" xlink:label="forty_DisclosureOfCommitmentsAndContingenciesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfCommitmentsAndContingenciesAbstract" xlink:to="forty_DisclosureOfCommitmentsAndContingenciesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfCommitmentsAndContingenciesAbstract_lbl" xml:lang="en-US"> Commitments and Contingencies [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_lbl" xml:lang="en-US"> COMMITMENTS AND CONTINGENCIES </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfEquityAbstract" xlink:label="forty_DisclosureOfEquityAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfEquityAbstract" xlink:to="forty_DisclosureOfEquityAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfEquityAbstract_lbl" xml:lang="en-US"> Equity [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:label="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:to="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_lbl" xml:lang="en-US"> EQUITY </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TaxesOnIncomeAbstract" xlink:label="forty_TaxesOnIncomeAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TaxesOnIncomeAbstract" xlink:to="forty_TaxesOnIncomeAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TaxesOnIncomeAbstract_lbl" xml:lang="en-US"> Taxes on Income [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:to="ifrs-full_DisclosureOfIncomeTaxExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory_lbl" xml:lang="en-US"> TAXES ON INCOME </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SupplementaryFinancialStatementInformationAbstract" xlink:label="forty_SupplementaryFinancialStatementInformationAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SupplementaryFinancialStatementInformationAbstract" xlink:to="forty_SupplementaryFinancialStatementInformationAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SupplementaryFinancialStatementInformationAbstract_lbl" xml:lang="en-US"> Supplementary Financial Statement Information [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SupplementaryFinancialStatementInformationTextBlock" xlink:label="forty_SupplementaryFinancialStatementInformationTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SupplementaryFinancialStatementInformationTextBlock" xlink:to="forty_SupplementaryFinancialStatementInformationTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SupplementaryFinancialStatementInformationTextBlock_lbl" xml:lang="en-US"> SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OperatingSegmentsAbstract" xlink:label="forty_OperatingSegmentsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OperatingSegmentsAbstract" xlink:to="forty_OperatingSegmentsAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OperatingSegmentsAbstract_lbl" xml:lang="en-US"> Operating Segments [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:label="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:to="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory_lbl" xml:lang="en-US"> OPERATING SEGMENTS </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_EventAfterReportingDateAbstract" xlink:label="forty_EventAfterReportingDateAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EventAfterReportingDateAbstract" xlink:to="forty_EventAfterReportingDateAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_EventAfterReportingDateAbstract_lbl" xml:lang="en-US"> Subsequent Events [Abstract] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:to="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl" xml:lang="en-US"> SUBSEQUENT EVENTS </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfAccountingPolicyForBasisOfPresentationOfFinancialStatementsTextBlock" xlink:label="forty_DescriptionOfAccountingPolicyForBasisOfPresentationOfFinancialStatementsTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyForBasisOfPresentationOfFinancialStatementsTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyForBasisOfPresentationOfFinancialStatementsTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfAccountingPolicyForBasisOfPresentationOfFinancialStatementsTextBlock_lbl" xml:lang="en-US"> Basis of presentation of the financial statements </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_UseOfEstimatesAndJudgmentsPolicyTextBlock" xlink:label="forty_UseOfEstimatesAndJudgmentsPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UseOfEstimatesAndJudgmentsPolicyTextBlock" xlink:to="forty_UseOfEstimatesAndJudgmentsPolicyTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_UseOfEstimatesAndJudgmentsPolicyTextBlock_lbl" xml:lang="en-US"> Use of judgments, estimates and assumptions </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfAccountingPolicyForConsolidatedFinancialStatementsPolicyTextBlock" xlink:label="forty_DescriptionOfAccountingPolicyForConsolidatedFinancialStatementsPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyForConsolidatedFinancialStatementsPolicyTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyForConsolidatedFinancialStatementsPolicyTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfAccountingPolicyForConsolidatedFinancialStatementsPolicyTextBlock_lbl" xml:lang="en-US"> Consolidated financial statements </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory_lbl" xml:lang="en-US"> Business combinations and goodwill </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory_lbl" xml:lang="en-US"> Investment in joint arrangements </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociates" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociates"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociates" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociates_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociates_lbl" xml:lang="en-US"> Investments in associates </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfInvestmentsAccountedForUsingEquityMethodPolicyTextBlock" xlink:label="forty_DescriptionOfInvestmentsAccountedForUsingEquityMethodPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfInvestmentsAccountedForUsingEquityMethodPolicyTextBlock" xlink:to="forty_DescriptionOfInvestmentsAccountedForUsingEquityMethodPolicyTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfInvestmentsAccountedForUsingEquityMethodPolicyTextBlock_lbl" xml:lang="en-US"> Investments accounted for using the equity method </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory_lbl" xml:lang="en-US"> Functional currency, presentation currency and foreign currency </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:label="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:to="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents_lbl" xml:lang="en-US"> Cash equivalents </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfAccountingPolicyForShortTermAndRestrictedDepositsPolicyTextBlock" xlink:label="forty_DescriptionOfAccountingPolicyForShortTermAndRestrictedDepositsPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyForShortTermAndRestrictedDepositsPolicyTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyForShortTermAndRestrictedDepositsPolicyTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfAccountingPolicyForShortTermAndRestrictedDepositsPolicyTextBlock_lbl" xml:lang="en-US"> Short-term and restricted deposits </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfAccountingPolicyForAllowanceForDoubtfulAccountsPolicyTextBlock" xlink:label="forty_DescriptionOfAccountingPolicyForAllowanceForDoubtfulAccountsPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyForAllowanceForDoubtfulAccountsPolicyTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyForAllowanceForDoubtfulAccountsPolicyTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfAccountingPolicyForAllowanceForDoubtfulAccountsPolicyTextBlock_lbl" xml:lang="en-US"> Allowance for doubtful accounts (applied until December 31, 2017 is as follows) </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories_lbl" xml:lang="en-US"> Inventories </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl" xml:lang="en-US"> Revenue recognition </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForGovernmentGrants" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForGovernmentGrants"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForGovernmentGrants" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForGovernmentGrants_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForGovernmentGrants_lbl" xml:lang="en-US"> Government grants </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfAccountingPolicyForDebenturesPolicyTextBlock" xlink:label="forty_DescriptionOfAccountingPolicyForDebenturesPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyForDebenturesPolicyTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyForDebenturesPolicyTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_DescriptionOfAccountingPolicyForDebenturesPolicyTextBlock_lbl" xml:lang="en-US"> Debentures </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory_lbl" xml:lang="en-US"> Taxes on income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory_lbl" xml:lang="en-US"> Leases </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl" xml:lang="en-US"> Property, plant and equipment, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory_lbl" xml:lang="en-US"> Research and development costs </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory_lbl" xml:lang="en-US"> Other intangible assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory_lbl" xml:lang="en-US"> Impairment of non-financial assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_lbl" xml:lang="en-US"> Financial instruments </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory_lbl" xml:lang="en-US"> Fair value measurement </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForTreasurySharesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTreasurySharesExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForTreasurySharesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForTreasurySharesExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTreasurySharesExplanatory_lbl" xml:lang="en-US"> Treasury shares </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory_lbl" xml:lang="en-US"> Provisions </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory_lbl" xml:lang="en-US"> Derivative financial instruments and hedging </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory_lbl" xml:lang="en-US"> Employee benefit liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory_lbl" xml:lang="en-US"> Earnings per share </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfAccountingPolicyConcentrationOfCreditRiskPolicyTextBlock" xlink:label="forty_DescriptionOfAccountingPolicyConcentrationOfCreditRiskPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyConcentrationOfCreditRiskPolicyTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyConcentrationOfCreditRiskPolicyTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfAccountingPolicyConcentrationOfCreditRiskPolicyTextBlock_lbl" xml:lang="en-US"> Concentration of credit risk </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfAccountingPolicyForInitialAdoptionOfNewFinancialReportingAndAccountingStandardsExplanatory" xlink:label="forty_DescriptionOfAccountingPolicyForInitialAdoptionOfNewFinancialReportingAndAccountingStandardsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyForInitialAdoptionOfNewFinancialReportingAndAccountingStandardsExplanatory" xlink:to="forty_DescriptionOfAccountingPolicyForInitialAdoptionOfNewFinancialReportingAndAccountingStandardsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfAccountingPolicyForInitialAdoptionOfNewFinancialReportingAndAccountingStandardsExplanatory_lbl" xml:lang="en-US"> Changes in accounting policies - initial adoption of new financial reporting and accounting standards </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfAccountingPolicyForFinancialStatementsReclassifiedExplanatory" xlink:label="forty_DescriptionOfAccountingPolicyForFinancialStatementsReclassifiedExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyForFinancialStatementsReclassifiedExplanatory" xlink:to="forty_DescriptionOfAccountingPolicyForFinancialStatementsReclassifiedExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfAccountingPolicyForFinancialStatementsReclassifiedExplanatory_lbl" xml:lang="en-US"> Financial statements have been reclassified </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfDetailedInformationAboutInvesteesTableTextBlock" xlink:label="forty_DisclosureOfDetailedInformationAboutInvesteesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutInvesteesTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutInvesteesTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfDetailedInformationAboutInvesteesTableTextBlock_lbl" xml:lang="en-US"> Schedule of information ownership investees of Formula's </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfDetailedInformationAboutUsingDepreciationStraightLineBasisOverUsefulLifeOfAssetsTableTextBlock" xlink:label="forty_DisclosureOfDetailedInformationAboutUsingDepreciationStraightLineBasisOverUsefulLifeOfAssetsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutUsingDepreciationStraightLineBasisOverUsefulLifeOfAssetsTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutUsingDepreciationStraightLineBasisOverUsefulLifeOfAssetsTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfDetailedInformationAboutUsingDepreciationStraightLineBasisOverUsefulLifeOfAssetsTableTextBlock_lbl" xml:lang="en-US"> Schedule of straight-line basis over the useful life of the assets at annual rates </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory_lbl" xml:lang="en-US"> Schedule of useful life of intangible assets </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfDetailedInformationAboutFinancialStatementsExplanatory" xlink:label="forty_DisclosureOfDetailedInformationAboutFinancialStatementsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutFinancialStatementsExplanatory" xlink:to="forty_DisclosureOfDetailedInformationAboutFinancialStatementsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfDetailedInformationAboutFinancialStatementsExplanatory_lbl" xml:lang="en-US"> Schedule of financial statements </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ScheduleOfContractwithCustomersTableTextBlock" xlink:label="forty_ScheduleOfContractwithCustomersTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfContractwithCustomersTableTextBlock" xlink:to="forty_ScheduleOfContractwithCustomersTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ScheduleOfContractwithCustomersTableTextBlock_lbl" xml:lang="en-US"> Schedule of contracts with customers </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfBusinessCombinationsTable" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBusinessCombinationsTable" xlink:to="ifrs-full_DisclosureOfBusinessCombinationsTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsTable_lbl" xml:lang="en-US"> Disclosure of detailed information about business combination [table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfBusinessCombinationsLineItems" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBusinessCombinationsLineItems" xlink:to="ifrs-full_DisclosureOfBusinessCombinationsLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsLineItems_lbl" xml:lang="en-US"> Disclosure of detailed information about business combination [line items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TsgItAdvancedSystemsLtdMember" xlink:to="forty_TsgItAdvancedSystemsLtdMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_TsgItAdvancedSystemsLtdMember_2_lbl" xml:lang="en-US"> TSG IT Advanced Systems Ltd. [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FourSightBusinessIntelligenceIncMember" xlink:to="forty_FourSightBusinessIntelligenceIncMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_FourSightBusinessIntelligenceIncMember_2_lbl" xml:lang="en-US"> 4Sight Business Intelligence Inc [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory_lbl" xml:lang="en-US"> Schedule of estimated fair values of the assets acquired and liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfDetailedInformationAboutAnnualAmortizationRateTableTextBlock" xlink:label="forty_DisclosureOfDetailedInformationAboutAnnualAmortizationRateTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutAnnualAmortizationRateTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutAnnualAmortizationRateTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfDetailedInformationAboutAnnualAmortizationRateTableTextBlock_lbl" xml:lang="en-US"> Schedule of intangible assets associated with acquisition and annual amortization rates </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfDetailedInformationAboutConsolidatedStatementsOfFinancialPositionTableTextBlock" xlink:label="forty_DisclosureOfDetailedInformationAboutConsolidatedStatementsOfFinancialPositionTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutConsolidatedStatementsOfFinancialPositionTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutConsolidatedStatementsOfFinancialPositionTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfDetailedInformationAboutConsolidatedStatementsOfFinancialPositionTableTextBlock_lbl" xml:lang="en-US"> Schedule of consolidated statements of financial position </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ScheduleOfMarketableSecuritiesTableTextBlock" xlink:label="forty_ScheduleOfMarketableSecuritiesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfMarketableSecuritiesTableTextBlock" xlink:to="forty_ScheduleOfMarketableSecuritiesTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ScheduleOfMarketableSecuritiesTableTextBlock_lbl" xml:lang="en-US"> Schedule of marketable securities </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ScheduleOfMarketableSecuritiesAvailable-For-SaleTableTextBlock" xlink:label="forty_ScheduleOfMarketableSecuritiesAvailable-For-SaleTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfMarketableSecuritiesAvailable-For-SaleTableTextBlock" xlink:to="forty_ScheduleOfMarketableSecuritiesAvailable-For-SaleTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ScheduleOfMarketableSecuritiesAvailable-For-SaleTableTextBlock_lbl" xml:lang="en-US"> Summary of debt instruments </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ScheduleOfAmortizedCostsOfAvailableForSaleDebtSecuritiesTableTextBlock" xlink:label="forty_ScheduleOfAmortizedCostsOfAvailableForSaleDebtSecuritiesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfAmortizedCostsOfAvailableForSaleDebtSecuritiesTableTextBlock" xlink:to="forty_ScheduleOfAmortizedCostsOfAvailableForSaleDebtSecuritiesTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ScheduleOfAmortizedCostsOfAvailableForSaleDebtSecuritiesTableTextBlock_lbl" xml:lang="en-US"> Schedule of amortized costs of debt instruments </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ScheduleOfComprehensiveIncomeFromAvailableForSaleSecuritiesTableTextBlock" xlink:label="forty_ScheduleOfComprehensiveIncomeFromAvailableForSaleSecuritiesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfComprehensiveIncomeFromAvailableForSaleSecuritiesTableTextBlock" xlink:to="forty_ScheduleOfComprehensiveIncomeFromAvailableForSaleSecuritiesTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ScheduleOfComprehensiveIncomeFromAvailableForSaleSecuritiesTableTextBlock_lbl" xml:lang="en-US"> Schedule of other comprehensive income from available-for-sale securities </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfCompositionOtherAccountsReceivableAndPrepaidExpensesTableTextBlock" xlink:label="forty_DisclosureOfCompositionOtherAccountsReceivableAndPrepaidExpensesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfCompositionOtherAccountsReceivableAndPrepaidExpensesTableTextBlock" xlink:to="forty_DisclosureOfCompositionOtherAccountsReceivableAndPrepaidExpensesTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfCompositionOtherAccountsReceivableAndPrepaidExpensesTableTextBlock_lbl" xml:lang="en-US"> Summary of prepaid expenses and other accounts receivable </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfCarryingAmountAndFairValueOfGroupsOfFinancialInstrumentsTableTextBlock" xlink:label="forty_DisclosureOfCarryingAmountAndFairValueOfGroupsOfFinancialInstrumentsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfCarryingAmountAndFairValueOfGroupsOfFinancialInstrumentsTableTextBlock" xlink:to="forty_DisclosureOfCarryingAmountAndFairValueOfGroupsOfFinancialInstrumentsTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfCarryingAmountAndFairValueOfGroupsOfFinancialInstrumentsTableTextBlock_lbl" xml:lang="en-US"> Schedule of financial assets and liabilities measured at fair value on a recurring basis </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SummaryOfFormulasInvestmentsTableTextBlock" xlink:label="forty_SummaryOfFormulasInvestmentsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SummaryOfFormulasInvestmentsTableTextBlock" xlink:to="forty_SummaryOfFormulasInvestmentsTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SummaryOfFormulasInvestmentsTableTextBlock_lbl" xml:lang="en-US"> Schedule of group's investments in companies accounted for at equity </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SummaryOfActivityRelatedToFormulasInvestmentsTableTextBlock" xlink:label="forty_SummaryOfActivityRelatedToFormulasInvestmentsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SummaryOfActivityRelatedToFormulasInvestmentsTableTextBlock" xlink:to="forty_SummaryOfActivityRelatedToFormulasInvestmentsTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SummaryOfActivityRelatedToFormulasInvestmentsTableTextBlock_lbl" xml:lang="en-US"> Schedule of investment in TSG equity method </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SummaryOfCompositionOfInvestmentInJointVentureTableTextBlock" xlink:label="forty_SummaryOfCompositionOfInvestmentInJointVentureTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SummaryOfCompositionOfInvestmentInJointVentureTableTextBlock" xlink:to="forty_SummaryOfCompositionOfInvestmentInJointVentureTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SummaryOfCompositionOfInvestmentInJointVentureTableTextBlock_lbl" xml:lang="en-US"> Schedule of activity related to the company's investment in TSG </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SummaryOfStatementsOfFinancialPositionTableTextBlock" xlink:label="forty_SummaryOfStatementsOfFinancialPositionTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SummaryOfStatementsOfFinancialPositionTableTextBlock" xlink:to="forty_SummaryOfStatementsOfFinancialPositionTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SummaryOfStatementsOfFinancialPositionTableTextBlock_lbl" xml:lang="en-US"> Schedule of financial information of TSG </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SummaryOfStatementsOfIncomeTableTextBlock" xlink:label="forty_SummaryOfStatementsOfIncomeTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SummaryOfStatementsOfIncomeTableTextBlock" xlink:to="forty_SummaryOfStatementsOfIncomeTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SummaryOfStatementsOfIncomeTableTextBlock_lbl" xml:lang="en-US"> Schedule of operating results of TSG </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_lbl" xml:lang="en-US"> Schedule of property, plants and equipment </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ScheduleOfIntangibleAssetsNetTableTextBlock" xlink:label="forty_ScheduleOfIntangibleAssetsNetTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfIntangibleAssetsNetTableTextBlock" xlink:to="forty_ScheduleOfIntangibleAssetsNetTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ScheduleOfIntangibleAssetsNetTableTextBlock_lbl" xml:lang="en-US"> Schedule of intangible assets, net </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ScheduleOfCarryingAmountOfGoodwillTableTextBlock" xlink:label="forty_ScheduleOfCarryingAmountOfGoodwillTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfCarryingAmountOfGoodwillTableTextBlock" xlink:to="forty_ScheduleOfCarryingAmountOfGoodwillTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ScheduleOfCarryingAmountOfGoodwillTableTextBlock_lbl" xml:lang="en-US"> Schedule of carrying amount of goodwill </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ShortTermLiabilitiesToBanksAndOthersTableTextBlock" xlink:label="forty_ShortTermLiabilitiesToBanksAndOthersTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShortTermLiabilitiesToBanksAndOthersTableTextBlock" xlink:to="forty_ShortTermLiabilitiesToBanksAndOthersTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ShortTermLiabilitiesToBanksAndOthersTableTextBlock_lbl" xml:lang="en-US"> Schedule of short term liabilities to banks and others </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ScheduleOfOtherAccountsPayableTableTextBlock" xlink:label="forty_ScheduleOfOtherAccountsPayableTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfOtherAccountsPayableTableTextBlock" xlink:to="forty_ScheduleOfOtherAccountsPayableTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ScheduleOfOtherAccountsPayableTableTextBlock_lbl" xml:lang="en-US"> Schedule of other accounts payable </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersTableTextBlock" xlink:label="forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersTableTextBlock" xlink:to="forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersTableTextBlock_lbl" xml:lang="en-US"> Schedule of long term liabilities to banks and others composition </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersMaturityDatesTableTextBlock" xlink:label="forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersMaturityDatesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersMaturityDatesTableTextBlock" xlink:to="forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersMaturityDatesTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersMaturityDatesTableTextBlock_lbl" xml:lang="en-US"> Schedule of long term liabilities to banks and others maturity dates </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfDetailedInformationAboutDebenturesExplanatoryTableTextBlock" xlink:label="forty_DisclosureOfDetailedInformationAboutDebenturesExplanatoryTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutDebenturesExplanatoryTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutDebenturesExplanatoryTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfDetailedInformationAboutDebenturesExplanatoryTableTextBlock_lbl" xml:lang="en-US"> Schedule of debentures </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfDetailedInformationAboutAnnualPaymentsOfDebenturesExplanatoryTableTextBlock" xlink:label="forty_DisclosureOfDetailedInformationAboutAnnualPaymentsOfDebenturesExplanatoryTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutAnnualPaymentsOfDebenturesExplanatoryTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutAnnualPaymentsOfDebenturesExplanatoryTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfDetailedInformationAboutAnnualPaymentsOfDebenturesExplanatoryTableTextBlock_lbl" xml:lang="en-US"> Schedule of aggregate principal annual payments of debentures </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_EmployeeOptionPlansTable" xlink:label="forty_EmployeeOptionPlansTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EmployeeOptionPlansTable" xlink:to="forty_EmployeeOptionPlansTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_EmployeeOptionPlansTable_lbl" xml:lang="en-US"> Employee Option Plans [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_EmployeeOptionPlansLineItems" xlink:label="forty_EmployeeOptionPlansLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EmployeeOptionPlansLineItems" xlink:to="forty_EmployeeOptionPlansLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_EmployeeOptionPlansLineItems_lbl" xml:lang="en-US"> Employee Option Plans [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:label="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:to="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_lbl" xml:lang="en-US"> Schedule of stock-based compensation expense resulting from stock options grants </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" xlink:to="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_lbl" xml:lang="en-US"> Schedule of employee option activity </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory" xlink:label="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory" xlink:to="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory_lbl" xml:lang="en-US"> Schedule of options outstanding under stock option plans separated into ranges of exercise price </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory" xlink:label="ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory" xlink:to="ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory_lbl" xml:lang="en-US"> Schedule of defined benefit plans </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfDetailedInformationAboutCompositionOfPledgedSharesTableTextBlock" xlink:label="forty_DisclosureOfDetailedInformationAboutCompositionOfPledgedSharesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutCompositionOfPledgedSharesTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutCompositionOfPledgedSharesTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfDetailedInformationAboutCompositionOfPledgedSharesTableTextBlock_lbl" xml:lang="en-US"> Schedule of composition of pledged shares </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfDetailedInformationAboutOperatingLeaseCommitmentsAndContingenciesTableTextBlock" xlink:label="forty_DisclosureOfDetailedInformationAboutOperatingLeaseCommitmentsAndContingenciesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutOperatingLeaseCommitmentsAndContingenciesTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutOperatingLeaseCommitmentsAndContingenciesTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfDetailedInformationAboutOperatingLeaseCommitmentsAndContingenciesTableTextBlock_lbl" xml:lang="en-US"> Schedule of future minimum lease commitments </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:to="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory_lbl" xml:lang="en-US"> Schedule of share capital </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfDetailedInformationAboutDeferredTaxAssetsLiabilitiesNetExplanatoryTableTextBlock" xlink:label="forty_DisclosureOfDetailedInformationAboutDeferredTaxAssetsLiabilitiesNetExplanatoryTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutDeferredTaxAssetsLiabilitiesNetExplanatoryTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutDeferredTaxAssetsLiabilitiesNetExplanatoryTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfDetailedInformationAboutDeferredTaxAssetsLiabilitiesNetExplanatoryTableTextBlock_lbl" xml:lang="en-US"> Schedule of deferred tax liabilities, net </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ScheduleOfIncomeBeforeTaxesOnIncomeTableTextBlock" xlink:label="forty_ScheduleOfIncomeBeforeTaxesOnIncomeTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfIncomeBeforeTaxesOnIncomeTableTextBlock" xlink:to="forty_ScheduleOfIncomeBeforeTaxesOnIncomeTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ScheduleOfIncomeBeforeTaxesOnIncomeTableTextBlock_lbl" xml:lang="en-US"> Schedule of pre-tax income </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ScheduleOfTaxesOnIncomeTaxBenefitTableTextBlock" xlink:label="forty_ScheduleOfTaxesOnIncomeTaxBenefitTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfTaxesOnIncomeTaxBenefitTableTextBlock" xlink:to="forty_ScheduleOfTaxesOnIncomeTaxBenefitTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ScheduleOfTaxesOnIncomeTaxBenefitTableTextBlock_lbl" xml:lang="en-US"> Schedule of taxes on income (tax benefit) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ScheduleOfTheoreticalTaxExpenseTableTextBlock" xlink:label="forty_ScheduleOfTheoreticalTaxExpenseTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfTheoreticalTaxExpenseTableTextBlock" xlink:to="forty_ScheduleOfTheoreticalTaxExpenseTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ScheduleOfTheoreticalTaxExpenseTableTextBlock_lbl" xml:lang="en-US"> Schedule of theoretical tax expense </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ScheduleOfUnrecognizedTaxBenefitsTableTextBlock" xlink:label="forty_ScheduleOfUnrecognizedTaxBenefitsTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfUnrecognizedTaxBenefitsTableTextBlock" xlink:to="forty_ScheduleOfUnrecognizedTaxBenefitsTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ScheduleOfUnrecognizedTaxBenefitsTableTextBlock_lbl" xml:lang="en-US"> Schedule of total unrecognized tax benefits </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NonControllingInterestInMaterialPartiallyOwnedSubsidiariesTableTextBlock" xlink:label="forty_NonControllingInterestInMaterialPartiallyOwnedSubsidiariesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NonControllingInterestInMaterialPartiallyOwnedSubsidiariesTableTextBlock" xlink:to="forty_NonControllingInterestInMaterialPartiallyOwnedSubsidiariesTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NonControllingInterestInMaterialPartiallyOwnedSubsidiariesTableTextBlock_lbl" xml:lang="en-US"> Schedule of non-controlling interest in material partially owned subsidiaries </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FinancialIncomeAndExpensesTableTextBlock" xlink:label="forty_FinancialIncomeAndExpensesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FinancialIncomeAndExpensesTableTextBlock" xlink:to="forty_FinancialIncomeAndExpensesTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FinancialIncomeAndExpensesTableTextBlock_lbl" xml:lang="en-US"> Schedule of financial income and expenses </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PropertyAndEquipmentTableTextBlock" xlink:label="forty_PropertyAndEquipmentTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PropertyAndEquipmentTableTextBlock" xlink:to="forty_PropertyAndEquipmentTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PropertyAndEquipmentTableTextBlock_lbl" xml:lang="en-US"> Schedule of property and equipment located </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RevenuesClassifiedByGeographicAreaTableTextBlock" xlink:label="forty_RevenuesClassifiedByGeographicAreaTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RevenuesClassifiedByGeographicAreaTableTextBlock" xlink:to="forty_RevenuesClassifiedByGeographicAreaTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RevenuesClassifiedByGeographicAreaTableTextBlock_lbl" xml:lang="en-US"> Schedule of revenues classified by geographic area (based on the location of customers) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_BasicAndDilutedNetEarningsPerShareTableTextBlock" xlink:label="forty_BasicAndDilutedNetEarningsPerShareTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BasicAndDilutedNetEarningsPerShareTableTextBlock" xlink:to="forty_BasicAndDilutedNetEarningsPerShareTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_BasicAndDilutedNetEarningsPerShareTableTextBlock_lbl" xml:lang="en-US"> Schedule of computation basic and diluted net earnings per share </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ScheduleOfGoodwillInMaterialPartiallyOwnedSubsidiariesTableTextBlock" xlink:label="forty_ScheduleOfGoodwillInMaterialPartiallyOwnedSubsidiariesTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfGoodwillInMaterialPartiallyOwnedSubsidiariesTableTextBlock" xlink:to="forty_ScheduleOfGoodwillInMaterialPartiallyOwnedSubsidiariesTableTextBlock_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ScheduleOfGoodwillInMaterialPartiallyOwnedSubsidiariesTableTextBlock_lbl" xml:lang="en-US"> Schedule of goodwill in material partially owned subsidiaries </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfOperatingSegmentsExplanatory" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsExplanatory"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOperatingSegmentsExplanatory" xlink:to="ifrs-full_DisclosureOfOperatingSegmentsExplanatory_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsExplanatory_lbl" xml:lang="en-US"> Schedule of reporting on operating segments </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfInformationAboutInvesteesTable" xlink:label="forty_DisclosureOfInformationAboutInvesteesTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfInformationAboutInvesteesTable" xlink:to="forty_DisclosureOfInformationAboutInvesteesTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfInformationAboutInvesteesTable_lbl" xml:lang="en-US"> Disclosure Of Information About Investees [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfInformationAboutInvesteesLineItems" xlink:label="forty_DisclosureOfInformationAboutInvesteesLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfInformationAboutInvesteesLineItems" xlink:to="forty_DisclosureOfInformationAboutInvesteesLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfInformationAboutInvesteesLineItems_lbl" xml:lang="en-US"> Disclosure Of Information About Investees [Line Items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TsgMember" xlink:to="forty_TsgMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_TsgMember_2_lbl" xml:lang="en-US"> TSG [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PercentageOfOwnershipInterestInInvestees" xlink:label="forty_PercentageOfOwnershipInterestInInvestees"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfOwnershipInterestInInvestees" xlink:to="forty_PercentageOfOwnershipInterestInInvestees_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PercentageOfOwnershipInterestInInvestees_lbl" xml:lang="en-US"> Percentage of ownership </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GeneralTable" xlink:label="forty_GeneralTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GeneralTable" xlink:to="forty_GeneralTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_GeneralTable_lbl" xml:lang="en-US"> General [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GeneralLineItems" xlink:label="forty_GeneralLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GeneralLineItems" xlink:to="forty_GeneralLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_GeneralLineItems_lbl" xml:lang="en-US"> General [Line Items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FormulaMember" xlink:to="forty_FormulaMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_FormulaMember_2_lbl" xml:lang="en-US"> Formula's [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CurrencyAxis" xlink:to="srt_CurrencyAxis_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="srt_CurrencyAxis_2_lbl" xml:lang="en-US"> Currency [Axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GeneralTextualAbstract" xlink:label="forty_GeneralTextualAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GeneralTextualAbstract" xlink:to="forty_GeneralTextualAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_GeneralTextualAbstract_lbl" xml:lang="en-US"> General (Textual) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IfrsStatementTable" xlink:label="forty_IfrsStatementTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IfrsStatementTable" xlink:to="forty_IfrsStatementTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IfrsStatementTable_lbl" xml:lang="en-US"> Statement Table [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IfrsStatementLineItems" xlink:label="forty_IfrsStatementLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IfrsStatementLineItems" xlink:to="forty_IfrsStatementLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IfrsStatementLineItems_lbl" xml:lang="en-US"> Statement Line Items [Line Items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ComputersSoftwareAndPeripheralEquipmentMember" xlink:to="forty_ComputersSoftwareAndPeripheralEquipmentMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ComputersSoftwareAndPeripheralEquipmentMember_2_lbl" xml:lang="en-US"> Computers, software and peripheral equipment [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OfficeEquipmentMember" xlink:to="ifrs-full_OfficeEquipmentMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OfficeEquipmentMember_2_lbl" xml:lang="en-US"> Office furniture and equipment [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MotorVehiclesMember" xlink:to="ifrs-full_MotorVehiclesMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_MotorVehiclesMember_2_lbl" xml:lang="en-US"> Motor vehicles [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangeAxis_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RangeAxis_2_lbl" xml:lang="en-US"> Range [axis] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_UsefulLivesOrDepreciationRatesAssets" xlink:label="forty_UsefulLivesOrDepreciationRatesAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UsefulLivesOrDepreciationRatesAssets" xlink:to="forty_UsefulLivesOrDepreciationRatesAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_UsefulLivesOrDepreciationRatesAssets_lbl" xml:lang="en-US"> Useful life of the assets at annual rates </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable" xlink:to="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable_lbl" xml:lang="en-US"> Disclosure of reconciliation of changes in intangible assets and goodwill [table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems" xlink:to="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems_lbl" xml:lang="en-US"> Disclosure of reconciliation of changes in intangible assets and goodwill [line items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AcquiredTechnologyMember" xlink:to="forty_AcquiredTechnologyMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_AcquiredTechnologyMember_2_lbl" xml:lang="en-US"> Acquired technology [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BrandNamesAndPatentsMember" xlink:to="forty_BrandNamesAndPatentsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_BrandNamesAndPatentsMember_2_lbl" xml:lang="en-US"> Brand names and patents [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BottomOfRangeMember_2_lbl" xml:lang="en-US"> Bottom of range [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_TopOfRangeMember_2_lbl" xml:lang="en-US"> Top of range [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_UsefulLifeOfOtherIintangibleAssets" xlink:label="forty_UsefulLifeOfOtherIintangibleAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UsefulLifeOfOtherIintangibleAssets" xlink:to="forty_UsefulLifeOfOtherIintangibleAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_UsefulLifeOfOtherIintangibleAssets_lbl" xml:lang="en-US"> Useful life of intangible assets </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialEffectOfChangesInAccountingPolicyMember" xlink:to="ifrs-full_FinancialEffectOfChangesInAccountingPolicyMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_FinancialEffectOfChangesInAccountingPolicyMember_2_lbl" xml:lang="en-US"> The change [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsMember" xlink:to="ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsMember_2_lbl" xml:lang="en-US"> According to IFRS 15 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsAbstract" xlink:to="ifrs-full_CurrentAssetsAbstract_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentAssetsAbstract_2_lbl" xml:lang="en-US"> Current Assets </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTradeReceivables" xlink:to="ifrs-full_CurrentTradeReceivables_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentTradeReceivables_2_lbl" xml:lang="en-US"> Trade receivables </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsAbstract" xlink:to="ifrs-full_NoncurrentAssetsAbstract_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncurrentAssetsAbstract_2_lbl" xml:lang="en-US"> Long-term Assets </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilitiesAbstract" xlink:to="ifrs-full_CurrentLiabilitiesAbstract_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentLiabilitiesAbstract_2_lbl" xml:lang="en-US"> Current Liabilities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilitiesAbstract" xlink:to="ifrs-full_NoncurrentLiabilitiesAbstract_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract_2_lbl" xml:lang="en-US"> Long-term Liabilities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAbstract" xlink:to="ifrs-full_EquityAbstract_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_EquityAbstract_2_lbl" xml:lang="en-US"> Equity </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Revenue" xlink:to="ifrs-full_Revenue_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Revenue_2_lbl" xml:lang="en-US"> Revenues </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:to="ifrs-full_ProfitLossAttributableToOwnersOfParent_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_2_lbl" xml:lang="en-US"> Net income attributable to equity holders of the Company </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_2_lbl" xml:lang="en-US"> Net income attributable to non-controlling interests </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeReceivables" xlink:label="ifrs-full_TradeReceivables"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeReceivables" xlink:to="ifrs-full_TradeReceivables_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeReceivables_lbl" xml:lang="en-US"> Trade receivables </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ContractAssets" xlink:label="ifrs-full_ContractAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContractAssets" xlink:to="ifrs-full_ContractAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ContractAssets_lbl" xml:lang="en-US"> Unbilled receivables </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermTradeReceivables" xlink:label="forty_LongTermTradeReceivables"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermTradeReceivables" xlink:to="forty_LongTermTradeReceivables_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LongTermTradeReceivables_lbl" xml:lang="en-US"> Long-term trade receivables </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Advances" xlink:label="ifrs-full_Advances"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Advances" xlink:to="ifrs-full_Advances_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Advances_lbl" xml:lang="en-US"> Advances and deferred revenues </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermDeferredRevenues" xlink:label="forty_LongTermDeferredRevenues"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDeferredRevenues" xlink:to="forty_LongTermDeferredRevenues_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LongTermDeferredRevenues_lbl" xml:lang="en-US"> Long-term deferred revenues </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction" xlink:label="ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction" xlink:to="ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction_lbl" xml:lang="en-US"> Bad debt expenses </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfNatureOfRelationshipWithSubsidiaryWhereParentHasDirectlyOrIndirectlyLessThanHalfOfVotingPower" xlink:label="ifrs-full_DescriptionOfNatureOfRelationshipWithSubsidiaryWhereParentHasDirectlyOrIndirectlyLessThanHalfOfVotingPower"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfNatureOfRelationshipWithSubsidiaryWhereParentHasDirectlyOrIndirectlyLessThanHalfOfVotingPower" xlink:to="ifrs-full_DescriptionOfNatureOfRelationshipWithSubsidiaryWhereParentHasDirectlyOrIndirectlyLessThanHalfOfVotingPower_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfNatureOfRelationshipWithSubsidiaryWhereParentHasDirectlyOrIndirectlyLessThanHalfOfVotingPower_lbl" xml:lang="en-US"> Description of voting rights </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_UsefulLifeOfIintangibleAssets" xlink:label="forty_UsefulLifeOfIintangibleAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UsefulLifeOfIintangibleAssets" xlink:to="forty_UsefulLifeOfIintangibleAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_UsefulLifeOfIintangibleAssets_lbl" xml:lang="en-US"> Useful life of intangible assets, years </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfGoverningBodies" xlink:label="forty_DescriptionOfGoverningBodies"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfGoverningBodies" xlink:to="forty_DescriptionOfGoverningBodies_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfGoverningBodies_lbl" xml:lang="en-US"> Description of governing bodies </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PercentageOfInterestShares" xlink:label="forty_PercentageOfInterestShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfInterestShares" xlink:to="forty_PercentageOfInterestShares_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PercentageOfInterestShares_lbl" xml:lang="en-US"> Company's shares interest below percentage </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EmployeeBenefitsExpense" xlink:label="ifrs-full_EmployeeBenefitsExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EmployeeBenefitsExpense" xlink:to="ifrs-full_EmployeeBenefitsExpense_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EmployeeBenefitsExpense_lbl" xml:lang="en-US"> Total expense of employee benefit liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FinancialAssetsAtFairvalueThroughProfitOrLossPercentage" xlink:label="forty_FinancialAssetsAtFairvalueThroughProfitOrLossPercentage"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FinancialAssetsAtFairvalueThroughProfitOrLossPercentage" xlink:to="forty_FinancialAssetsAtFairvalueThroughProfitOrLossPercentage_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FinancialAssetsAtFairvalueThroughProfitOrLossPercentage_lbl" xml:lang="en-US"> Percentage of decline in fair value of financial assets </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RevenuesFromTrainingAndImplementationServicesTerms" xlink:label="forty_RevenuesFromTrainingAndImplementationServicesTerms"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RevenuesFromTrainingAndImplementationServicesTerms" xlink:to="forty_RevenuesFromTrainingAndImplementationServicesTerms_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RevenuesFromTrainingAndImplementationServicesTerms_lbl" xml:lang="en-US"> Revenues from training services, terms </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AdjustmentOfRetainedEarnings" xlink:label="forty_AdjustmentOfRetainedEarnings"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentOfRetainedEarnings" xlink:to="forty_AdjustmentOfRetainedEarnings_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AdjustmentOfRetainedEarnings_lbl" xml:lang="en-US"> Adjustment to the opening retained earnings </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IncreaseInTotalAssets" xlink:label="forty_IncreaseInTotalAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncreaseInTotalAssets" xlink:to="forty_IncreaseInTotalAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IncreaseInTotalAssets_lbl" xml:lang="en-US"> Increase in total assets </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IncreaseInTotalLiabilities" xlink:label="forty_IncreaseInTotalLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncreaseInTotalLiabilities" xlink:to="forty_IncreaseInTotalLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IncreaseInTotalLiabilities_lbl" xml:lang="en-US"> Increase in total liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DecreaseInShareholdersEquity" xlink:label="forty_DecreaseInShareholdersEquity"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DecreaseInShareholdersEquity" xlink:to="forty_DecreaseInShareholdersEquity_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DecreaseInShareholdersEquity_lbl" xml:lang="en-US"> Decrease in shareholders' equity </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_FinancialAssetsRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_FinancialAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Net assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Intangible assets </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_BacklogRecognisedAsOfAcquisitionDate" xlink:label="forty_BacklogRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BacklogRecognisedAsOfAcquisitionDate" xlink:to="forty_BacklogRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_BacklogRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Backlog </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Deferred tax liability </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DividendPreferenceDerivativeRecognisedAsOfAcquisitionDate" xlink:label="forty_DividendPreferenceDerivativeRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPreferenceDerivativeRecognisedAsOfAcquisitionDate" xlink:to="forty_DividendPreferenceDerivativeRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DividendPreferenceDerivativeRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Dividend preference derivative </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GoodwillRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Goodwill </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_lbl" xml:lang="en-US"> Total assets acquired net of acquired cash </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_2_lbl" xml:lang="en-US"> Deferred tax liability </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_2_lbl" xml:lang="en-US"> Net assets acquired </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_DeferredTaxAssetsRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredTaxAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DeferredTaxAssetsRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Deferred taxes </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Current assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Property and equipment </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherTangibleOrIntangibleAssetsTransferred" xlink:label="ifrs-full_OtherTangibleOrIntangibleAssetsTransferred"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherTangibleOrIntangibleAssetsTransferred" xlink:to="ifrs-full_OtherTangibleOrIntangibleAssetsTransferred_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherTangibleOrIntangibleAssetsTransferred_lbl" xml:lang="en-US"> Other long-term assets </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_3_lbl" xml:lang="en-US"> Total assets acquired </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_CurrentLiabilitiesRecognisedAsOfAcquisitionDate_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentLiabilitiesRecognisedAsOfAcquisitionDate_2_lbl" xml:lang="en-US"> Current liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredIncomeRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_DeferredIncomeRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredIncomeRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredIncomeRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DeferredIncomeRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Deferred revenues </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredTaxAssetsRecognisedAsOfAcquisitionDate_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxAssetsRecognisedAsOfAcquisitionDate_2_lbl" xml:lang="en-US"> Deferred tax liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Other long-term liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiabilitiesIncurred" xlink:label="ifrs-full_LiabilitiesIncurred"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesIncurred" xlink:to="ifrs-full_LiabilitiesIncurred_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesIncurred_lbl" xml:lang="en-US"> Total liabilities acquired </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:to="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl" xml:lang="en-US"> Total purchase price </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TechnologybasedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_TechnologybasedIntangibleAssetsRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TechnologybasedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_TechnologybasedIntangibleAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TechnologybasedIntangibleAssetsRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Developed technology </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Customer relationships </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_BackogIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="forty_BackogIntangibleAssetsRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BackogIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:to="forty_BackogIntangibleAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_BackogIntangibleAssetsRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Backlog </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_2_lbl" xml:lang="en-US"> Total intangible assets </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_FinancialAssetsRecognisedAsOfAcquisitionDate_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_FinancialAssetsRecognisedAsOfAcquisitionDate_2_lbl" xml:lang="en-US"> Net liabilities excluding cash acquired </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_4_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/commentaryGuidance" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_4_lbl" xml:lang="en-US"> Total assets acquired, net of acquired cash </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_FinancialAssetsRecognisedAsOfAcquisitionDate_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsRecognisedAsOfAcquisitionDate_3_lbl" xml:lang="en-US"> Net assets, excluding cash acquired </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:label="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:to="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_lbl" xml:lang="en-US"> Non-controlling interests </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_3_lbl" xml:lang="en-US"> Deferred tax liabilities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShavitSoftwareLtdMember" xlink:to="forty_ShavitSoftwareLtdMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ShavitSoftwareLtdMember_2_lbl" xml:lang="en-US"> Acquisition of Shavit Software (2009) Ltd. [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_4_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/disclosureGuidance" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_4_lbl" xml:lang="en-US"> Deferred tax liabilities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherAcquisitionsByMagicMember" xlink:to="forty_OtherAcquisitionsByMagicMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_OtherAcquisitionsByMagicMember_2_lbl" xml:lang="en-US"> Other acquisitions by Magic [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_5_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/presentationGuidance" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_5_lbl" xml:lang="en-US"> Deferred tax liabilities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:to="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_2_lbl" xml:lang="en-US"> Redeemable non-controlling interests </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_5_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/exampleGuidance" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_5_lbl" xml:lang="en-US"> Total assets acquired </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_6_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_6_lbl" xml:lang="en-US"> Deferred tax liabilities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_7_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_7_lbl" xml:lang="en-US"> Deferred tax </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_8_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/commentaryGuidance" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_8_lbl" xml:lang="en-US"> Deferred taxes </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_9_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/exampleGuidance" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_9_lbl" xml:lang="en-US"> Deferred taxes </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DeferredTaxLiabilityRecognisedAsOfAcquisitionDate" xlink:label="forty_DeferredTaxLiabilityRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxLiabilityRecognisedAsOfAcquisitionDate" xlink:to="forty_DeferredTaxLiabilityRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_DeferredTaxLiabilityRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Deferred taxes </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_10_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_10_lbl" xml:lang="en-US"> Deferred tax </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TsgItAdvancedSystemsLtdMember" xlink:to="forty_TsgItAdvancedSystemsLtdMember_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="forty_TsgItAdvancedSystemsLtdMember_3_lbl" xml:lang="en-US"> TSG IT Advanced Systems Ltd [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_BusinessCombinationSignificantTransactionAndSaleOfBusinessTextualAbstract" xlink:label="forty_BusinessCombinationSignificantTransactionAndSaleOfBusinessTextualAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BusinessCombinationSignificantTransactionAndSaleOfBusinessTextualAbstract" xlink:to="forty_BusinessCombinationSignificantTransactionAndSaleOfBusinessTextualAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_BusinessCombinationSignificantTransactionAndSaleOfBusinessTextualAbstract_lbl" xml:lang="en-US"> Business Combination, Significant Transaction and Sale of Business (Textual) </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:to="ifrs-full_PercentageOfVotingEquityInterestsAcquired_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired_lbl" xml:lang="en-US"> Percentage of assets acquired </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesIssued" xlink:to="ifrs-full_NumberOfSharesIssued_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NumberOfSharesIssued_2_lbl" xml:lang="en-US"> Ordinary shares issued </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FinancialLiability" xlink:label="forty_FinancialLiability"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FinancialLiability" xlink:to="forty_FinancialLiability_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FinancialLiability_lbl" xml:lang="en-US"> Financial liability </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FourSightBusinessIntelligenceIncMember" xlink:to="forty_FourSightBusinessIntelligenceIncMember_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="forty_FourSightBusinessIntelligenceIncMember_3_lbl" xml:lang="en-US"> Acquisition of 4Sight Business Intelligence Inc [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MaximumProcessingIncMember" xlink:to="forty_MaximumProcessingIncMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_MaximumProcessingIncMember_2_lbl" xml:lang="en-US"> Acquisition of Maximum Processing Inc. [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DateOfAcquisition2013" xlink:label="ifrs-full_DateOfAcquisition2013"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DateOfAcquisition2013" xlink:to="ifrs-full_DateOfAcquisition2013_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DateOfAcquisition2013_lbl" xml:lang="en-US"> Acquisition date </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NumberOfInsuranceProfessionals" xlink:label="forty_NumberOfInsuranceProfessionals"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfInsuranceProfessionals" xlink:to="forty_NumberOfInsuranceProfessionals_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NumberOfInsuranceProfessionals_lbl" xml:lang="en-US"> Number of insurance professionals </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashTransferred" xlink:label="ifrs-full_CashTransferred"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashTransferred" xlink:to="ifrs-full_CashTransferred_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashTransferred_lbl" xml:lang="en-US"> Acquisition consideration in cash </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExplanationOfAmountOfAnyGainRecognisedAndLineItemInStatementOfComprehensiveIncomeInWhichGainIsRecognisedInBargainPurchase" xlink:label="ifrs-full_ExplanationOfAmountOfAnyGainRecognisedAndLineItemInStatementOfComprehensiveIncomeInWhichGainIsRecognisedInBargainPurchase"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExplanationOfAmountOfAnyGainRecognisedAndLineItemInStatementOfComprehensiveIncomeInWhichGainIsRecognisedInBargainPurchase" xlink:to="ifrs-full_ExplanationOfAmountOfAnyGainRecognisedAndLineItemInStatementOfComprehensiveIncomeInWhichGainIsRecognisedInBargainPurchase_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExplanationOfAmountOfAnyGainRecognisedAndLineItemInStatementOfComprehensiveIncomeInWhichGainIsRecognisedInBargainPurchase_lbl" xml:lang="en-US"> Description of aggregate revenues </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:to="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_2_lbl" xml:lang="en-US"> Estimated fair value of contingent payments </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SubsidiarySharesIssued" xlink:label="forty_SubsidiarySharesIssued"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SubsidiarySharesIssued" xlink:to="forty_SubsidiarySharesIssued_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SubsidiarySharesIssued_lbl" xml:lang="en-US"> Subsidiary shares issued </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PercentageOfSubsidiaryOutstandingShares" xlink:label="forty_PercentageOfSubsidiaryOutstandingShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfSubsidiaryOutstandingShares" xlink:to="forty_PercentageOfSubsidiaryOutstandingShares_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PercentageOfSubsidiaryOutstandingShares_lbl" xml:lang="en-US"> Percentage of subsidiary outstanding shares </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MinorityInterestsCommencingDate" xlink:label="forty_MinorityInterestsCommencingDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MinorityInterestsCommencingDate" xlink:to="forty_MinorityInterestsCommencingDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MinorityInterestsCommencingDate_lbl" xml:lang="en-US"> Minority interests commencing date </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RestrictedSharesIssuedToSubsidiary" xlink:label="forty_RestrictedSharesIssuedToSubsidiary"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RestrictedSharesIssuedToSubsidiary" xlink:to="forty_RestrictedSharesIssuedToSubsidiary_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RestrictedSharesIssuedToSubsidiary_lbl" xml:lang="en-US"> Subsidiary restricted shares issued </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ContingentLiabilitiesRecognisedInBusinessCombination" xlink:label="ifrs-full_ContingentLiabilitiesRecognisedInBusinessCombination"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContingentLiabilitiesRecognisedInBusinessCombination" xlink:to="ifrs-full_ContingentLiabilitiesRecognisedInBusinessCombination_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ContingentLiabilitiesRecognisedInBusinessCombination_lbl" xml:lang="en-US"> Contingent obligation </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SettledLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination" xlink:label="ifrs-full_SettledLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SettledLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination" xlink:to="ifrs-full_SettledLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SettledLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination_lbl" xml:lang="en-US"> Estimated fair value of contingent payment </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionalLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination" xlink:label="ifrs-full_AdditionalLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination" xlink:to="ifrs-full_AdditionalLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdditionalLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination_lbl" xml:lang="en-US"> Additional contingent payment </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LongtermDeposits" xlink:label="ifrs-full_LongtermDeposits"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LongtermDeposits" xlink:to="ifrs-full_LongtermDeposits_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LongtermDeposits_lbl" xml:lang="en-US"> Deposited at closing in escrow </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueOfAcquiree" xlink:label="ifrs-full_RevenueOfAcquiree"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueOfAcquiree" xlink:to="ifrs-full_RevenueOfAcquiree_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueOfAcquiree_lbl" xml:lang="en-US"> Revenue and profitability targets over three years (2016-2018) </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShavitSoftwareLtdMember" xlink:to="forty_ShavitSoftwareLtdMember_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="forty_ShavitSoftwareLtdMember_3_lbl" xml:lang="en-US"> Acquisition of in Shavit Software (2009) Ltd [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AcquisitionOfStoneriverIncMember" xlink:to="forty_AcquisitionOfStoneriverIncMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_AcquisitionOfStoneriverIncMember_2_lbl" xml:lang="en-US"> Acquisition of StoneRiver, Inc [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ComblackItLtdMember" xlink:to="forty_ComblackItLtdMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ComblackItLtdMember_2_lbl" xml:lang="en-US"> Acquisition of Comblack IT Ltd [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InfinigySolutionsLlcMember" xlink:to="forty_InfinigySolutionsLlcMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_InfinigySolutionsLlcMember_2_lbl" xml:lang="en-US"> Acquisition of Infinigy Solutions LLC [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherAcquisitionsByMagicMember" xlink:to="forty_OtherAcquisitionsByMagicMember_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="forty_OtherAcquisitionsByMagicMember_3_lbl" xml:lang="en-US"> Other acquisitions by Magic in 2015, 2016 and 2017 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RoshtovSoftwareIndustriesLtdMember" xlink:to="forty_RoshtovSoftwareIndustriesLtdMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_RoshtovSoftwareIndustriesLtdMember_2_lbl" xml:lang="en-US"> Acquisition of Roshtov Software Industries Ltd [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_JanuaryTwoThousandEighteenMember" xlink:to="forty_JanuaryTwoThousandEighteenMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_JanuaryTwoThousandEighteenMember_2_lbl" xml:lang="en-US"> January 2018 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DecemberTwoThousandSeventeenMember" xlink:to="forty_DecemberTwoThousandSeventeenMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_DecemberTwoThousandSeventeenMember_2_lbl" xml:lang="en-US"> December 2017 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BusinessAcquisitionReportDateAxis" xlink:to="forty_BusinessAcquisitionReportDateAxis_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_BusinessAcquisitionReportDateAxis_2_lbl" xml:lang="en-US"> BusinessAcquisitionReportDateAxis [Axis] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:to="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_3_lbl" xml:lang="en-US"> Fair value of total consideration </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionsDate" xlink:label="forty_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionsDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionsDate" xlink:to="forty_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionsDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionsDate_lbl" xml:lang="en-US"> Deferred payment </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Revenue" xlink:to="ifrs-full_Revenue_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_Revenue_3_lbl" xml:lang="en-US"> Revenue </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PercentageOfRemainingAssetsAcquired" xlink:label="forty_PercentageOfRemainingAssetsAcquired"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfRemainingAssetsAcquired" xlink:to="forty_PercentageOfRemainingAssetsAcquired_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PercentageOfRemainingAssetsAcquired_lbl" xml:lang="en-US"> Percentage of remaining assets acquired </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OperationalTargets" xlink:label="forty_OperationalTargets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OperationalTargets" xlink:to="forty_OperationalTargets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OperationalTargets_lbl" xml:lang="en-US"> Operational targets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xml:lang="en-US"> Percentage of ownership </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GeneralAndAdministrativeExpense" xlink:label="ifrs-full_GeneralAndAdministrativeExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeneralAndAdministrativeExpense" xlink:to="ifrs-full_GeneralAndAdministrativeExpense_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GeneralAndAdministrativeExpense_lbl" xml:lang="en-US"> General and administrative expense </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfPrimaryReasonsForBusinessCombination" xlink:label="ifrs-full_DescriptionOfPrimaryReasonsForBusinessCombination"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfPrimaryReasonsForBusinessCombination" xlink:to="ifrs-full_DescriptionOfPrimaryReasonsForBusinessCombination_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfPrimaryReasonsForBusinessCombination_lbl" xml:lang="en-US"> Description of business combination </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CashConsiderationOfAcquisition" xlink:label="forty_CashConsiderationOfAcquisition"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CashConsiderationOfAcquisition" xlink:to="forty_CashConsiderationOfAcquisition_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CashConsiderationOfAcquisition_lbl" xml:lang="en-US"> Total cash consideration </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashTransferred" xlink:to="ifrs-full_CashTransferred_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CashTransferred_2_lbl" xml:lang="en-US"> Paid amount </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueOfAcquiree" xlink:to="ifrs-full_RevenueOfAcquiree_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_RevenueOfAcquiree_2_lbl" xml:lang="en-US"> Revenue targets over three years (2018-2020) </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NetworkInfrastructureTechnologiesIncMember" xlink:to="forty_NetworkInfrastructureTechnologiesIncMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_NetworkInfrastructureTechnologiesIncMember_2_lbl" xml:lang="en-US"> Acquisition of Network Infrastructure Technologies Inc [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AvivManagementEngineeringSystemsLtdMember" xlink:to="forty_AvivManagementEngineeringSystemsLtdMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_AvivManagementEngineeringSystemsLtdMember_2_lbl" xml:lang="en-US"> Acquisition of Aviv Management Engineering Systems Ltd. [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ProgramaLogisticsSystemsLtdMember" xlink:to="forty_ProgramaLogisticsSystemsLtdMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ProgramaLogisticsSystemsLtdMember_2_lbl" xml:lang="en-US"> Acquisition of Programa Logistics Systems Ltd [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AcquisitionOfTiltanSystemsEngineeringLtdMember" xlink:to="forty_AcquisitionOfTiltanSystemsEngineeringLtdMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_AcquisitionOfTiltanSystemsEngineeringLtdMember_2_lbl" xml:lang="en-US"> Acquisition of Tiltan Systems Engineering Ltd [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_HydusIncMember" xlink:to="forty_HydusIncMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_HydusIncMember_2_lbl" xml:lang="en-US"> Acquisition of Hydus Inc [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SecondToNoneSolutionsIncMember" xlink:to="forty_SecondToNoneSolutionsIncMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_SecondToNoneSolutionsIncMember_2_lbl" xml:lang="en-US"> Acquisition of Second to none solutions Inc. [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AssetsAcquiredRemainingBalance" xlink:label="forty_AssetsAcquiredRemainingBalance"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AssetsAcquiredRemainingBalance" xlink:to="forty_AssetsAcquiredRemainingBalance_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AssetsAcquiredRemainingBalance_lbl" xml:lang="en-US"> Assets acquired remaining balance </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossOfAcquiree" xlink:label="ifrs-full_ProfitLossOfAcquiree"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossOfAcquiree" xlink:to="ifrs-full_ProfitLossOfAcquiree_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossOfAcquiree_lbl" xml:lang="en-US"> Consequently recognized loss </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DeferredTaxLiabilitieRecognisedAsOfAcquisitionDate" xlink:label="forty_DeferredTaxLiabilitieRecognisedAsOfAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxLiabilitieRecognisedAsOfAcquisitionDate" xlink:to="forty_DeferredTaxLiabilitieRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_DeferredTaxLiabilitieRecognisedAsOfAcquisitionDate_lbl" xml:lang="en-US"> Allocated to deferred taxes </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Goodwill" xlink:to="ifrs-full_Goodwill_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_Goodwill_2_lbl" xml:lang="en-US"> Allocated to goodwill </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashTransferred" xlink:to="ifrs-full_CashTransferred_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashTransferred_3_lbl" xml:lang="en-US"> Total consideration </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_EligibleForFutureConsideration" xlink:label="forty_EligibleForFutureConsideration"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EligibleForFutureConsideration" xlink:to="forty_EligibleForFutureConsideration_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_EligibleForFutureConsideration_lbl" xml:lang="en-US"> Eligible for future consideration </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AccumulatedOperatingIncome" xlink:label="forty_AccumulatedOperatingIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccumulatedOperatingIncome" xlink:to="forty_AccumulatedOperatingIncome_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AccumulatedOperatingIncome_lbl" xml:lang="en-US"> Accumulated operating income </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ShortTermAbstract" xlink:label="forty_ShortTermAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShortTermAbstract" xlink:to="forty_ShortTermAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ShortTermAbstract_lbl" xml:lang="en-US"> Short-term: </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FairValueMarketableSecuritiesThroughProfitOrLoss" xlink:label="forty_FairValueMarketableSecuritiesThroughProfitOrLoss"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FairValueMarketableSecuritiesThroughProfitOrLoss" xlink:to="forty_FairValueMarketableSecuritiesThroughProfitOrLoss_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FairValueMarketableSecuritiesThroughProfitOrLoss_lbl" xml:lang="en-US"> Fair value through profit or loss </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FairValueMarketableSecuritiesThroughOtherComprehensiveIncome" xlink:label="forty_FairValueMarketableSecuritiesThroughOtherComprehensiveIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FairValueMarketableSecuritiesThroughOtherComprehensiveIncome" xlink:to="forty_FairValueMarketableSecuritiesThroughOtherComprehensiveIncome_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FairValueMarketableSecuritiesThroughOtherComprehensiveIncome_lbl" xml:lang="en-US"> Fair value through other comprehensive income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentFinancialAssetsAvailableforsale" xlink:label="ifrs-full_CurrentFinancialAssetsAvailableforsale"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentFinancialAssetsAvailableforsale" xlink:to="ifrs-full_CurrentFinancialAssetsAvailableforsale_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentFinancialAssetsAvailableforsale_lbl" xml:lang="en-US"> Total short-term marketable securities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentFinancialAssetsAvailableforsale" xlink:label="ifrs-full_NoncurrentFinancialAssetsAvailableforsale"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentFinancialAssetsAvailableforsale" xlink:to="ifrs-full_NoncurrentFinancialAssetsAvailableforsale_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentFinancialAssetsAvailableforsale_lbl" xml:lang="en-US"> Total marketable securities </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfMarketableSecuritiesTable" xlink:label="forty_DisclosureOfMarketableSecuritiesTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfMarketableSecuritiesTable" xlink:to="forty_DisclosureOfMarketableSecuritiesTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfMarketableSecuritiesTable_lbl" xml:lang="en-US"> Disclosure Of Marketable Securities [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfMarketableSecuritiesLineItems" xlink:label="forty_DisclosureOfMarketableSecuritiesLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfMarketableSecuritiesLineItems" xlink:to="forty_DisclosureOfMarketableSecuritiesLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfMarketableSecuritiesLineItems_lbl" xml:lang="en-US"> Disclosure Of Marketable Securities [Line Items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CommercialBondsMember" xlink:to="forty_CommercialBondsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_CommercialBondsMember_2_lbl" xml:lang="en-US"> Commercial bonds [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AvailableForSaleAbstract" xlink:label="forty_AvailableForSaleAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AvailableForSaleAbstract" xlink:to="forty_AvailableForSaleAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AvailableForSaleAbstract_lbl" xml:lang="en-US"> Available-for-sale: </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MarketableSecuritiesAmortizedCost" xlink:label="forty_MarketableSecuritiesAmortizedCost"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesAmortizedCost" xlink:to="forty_MarketableSecuritiesAmortizedCost_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MarketableSecuritiesAmortizedCost_lbl" xml:lang="en-US"> Amortized cost </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MarketableSecuritiesUnrealizedLosses" xlink:label="forty_MarketableSecuritiesUnrealizedLosses"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesUnrealizedLosses" xlink:to="forty_MarketableSecuritiesUnrealizedLosses_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MarketableSecuritiesUnrealizedLosses_lbl" xml:lang="en-US"> Unrealized losses </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MarketableSecuritiesUnrealizedGains" xlink:label="forty_MarketableSecuritiesUnrealizedGains"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesUnrealizedGains" xlink:to="forty_MarketableSecuritiesUnrealizedGains_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MarketableSecuritiesUnrealizedGains_lbl" xml:lang="en-US"> Unrealized Gains </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MarketableSecuritiesMarketValue" xlink:label="forty_MarketableSecuritiesMarketValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesMarketValue" xlink:to="forty_MarketableSecuritiesMarketValue_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MarketableSecuritiesMarketValue_lbl" xml:lang="en-US"> Market value </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AmortizedCostsOfAvailable-For-SaleDebtSecuritiesAbstract" xlink:label="forty_AmortizedCostsOfAvailable-For-SaleDebtSecuritiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AmortizedCostsOfAvailable-For-SaleDebtSecuritiesAbstract" xlink:to="forty_AmortizedCostsOfAvailable-For-SaleDebtSecuritiesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_AmortizedCostsOfAvailable-For-SaleDebtSecuritiesAbstract_lbl" xml:lang="en-US"> Amortized cost </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_Available-For-SaleDebtSecuritiesAmortizedCostForOneToThreeYears" xlink:label="forty_Available-For-SaleDebtSecuritiesAmortizedCostForOneToThreeYears"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_Available-For-SaleDebtSecuritiesAmortizedCostForOneToThreeYears" xlink:to="forty_Available-For-SaleDebtSecuritiesAmortizedCostForOneToThreeYears_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_Available-For-SaleDebtSecuritiesAmortizedCostForOneToThreeYears_lbl" xml:lang="en-US"> Amortized cost due within one year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_Available-For-SaleDebtSecuritiesAmortizedCostForThreeToFiveYears" xlink:label="forty_Available-For-SaleDebtSecuritiesAmortizedCostForThreeToFiveYears"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_Available-For-SaleDebtSecuritiesAmortizedCostForThreeToFiveYears" xlink:to="forty_Available-For-SaleDebtSecuritiesAmortizedCostForThreeToFiveYears_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_Available-For-SaleDebtSecuritiesAmortizedCostForThreeToFiveYears_lbl" xml:lang="en-US"> Amortized cost due after one year through three years </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MarketableSecuritiesUnrealizedGainsAbstract" xlink:label="forty_MarketableSecuritiesUnrealizedGainsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesUnrealizedGainsAbstract" xlink:to="forty_MarketableSecuritiesUnrealizedGainsAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MarketableSecuritiesUnrealizedGainsAbstract_lbl" xml:lang="en-US"> Unrealized gains </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MarketableSecuritiesUnrealizedGainForOneToThreeYears" xlink:label="forty_MarketableSecuritiesUnrealizedGainForOneToThreeYears"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesUnrealizedGainForOneToThreeYears" xlink:to="forty_MarketableSecuritiesUnrealizedGainForOneToThreeYears_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MarketableSecuritiesUnrealizedGainForOneToThreeYears_lbl" xml:lang="en-US"> Marketable securities unrealized gain due within one year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MarketableSecuritiesUnrealizedGainForThreeToFiveYears" xlink:label="forty_MarketableSecuritiesUnrealizedGainForThreeToFiveYears"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesUnrealizedGainForThreeToFiveYears" xlink:to="forty_MarketableSecuritiesUnrealizedGainForThreeToFiveYears_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MarketableSecuritiesUnrealizedGainForThreeToFiveYears_lbl" xml:lang="en-US"> Marketable securities unrealized gain due after one year through three years </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MarketableSecuritiesUnrealizedLossAbstract" xlink:label="forty_MarketableSecuritiesUnrealizedLossAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesUnrealizedLossAbstract" xlink:to="forty_MarketableSecuritiesUnrealizedLossAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MarketableSecuritiesUnrealizedLossAbstract_lbl" xml:lang="en-US"> Unrealized Losses </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MarketableSecuritiesUnrealizedLossesForOneToThreeYears" xlink:label="forty_MarketableSecuritiesUnrealizedLossesForOneToThreeYears"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesUnrealizedLossesForOneToThreeYears" xlink:to="forty_MarketableSecuritiesUnrealizedLossesForOneToThreeYears_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_MarketableSecuritiesUnrealizedLossesForOneToThreeYears_lbl" xml:lang="en-US"> Marketable securities unrealized gain due within one year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MarketableSecuritiesUnrealizedLossesForThreeToFiveYears" xlink:label="forty_MarketableSecuritiesUnrealizedLossesForThreeToFiveYears"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesUnrealizedLossesForThreeToFiveYears" xlink:to="forty_MarketableSecuritiesUnrealizedLossesForThreeToFiveYears_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MarketableSecuritiesUnrealizedLossesForThreeToFiveYears_lbl" xml:lang="en-US"> Marketable securities unrealized losses due after one year through three years </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MarketableSecuritiesMarketValueAbstract" xlink:label="forty_MarketableSecuritiesMarketValueAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesMarketValueAbstract" xlink:to="forty_MarketableSecuritiesMarketValueAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MarketableSecuritiesMarketValueAbstract_lbl" xml:lang="en-US"> Market Value </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MarketableSecuritiesMarketValueForOneToThreeYears" xlink:label="forty_MarketableSecuritiesMarketValueForOneToThreeYears"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesMarketValueForOneToThreeYears" xlink:to="forty_MarketableSecuritiesMarketValueForOneToThreeYears_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MarketableSecuritiesMarketValueForOneToThreeYears_lbl" xml:lang="en-US"> Marketable securities market value due within one year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MarketableSecuritiesMarketValueForThreeToFiveYears" xlink:label="forty_MarketableSecuritiesMarketValueForThreeToFiveYears"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesMarketValueForThreeToFiveYears" xlink:to="forty_MarketableSecuritiesMarketValueForThreeToFiveYears_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MarketableSecuritiesMarketValueForThreeToFiveYears_lbl" xml:lang="en-US"> Marketable securities market value due after one year through three years </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OtherComprehensiveIncomeFromAvailable-For-SaleSecurities" xlink:label="forty_OtherComprehensiveIncomeFromAvailable-For-SaleSecurities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherComprehensiveIncomeFromAvailable-For-SaleSecurities" xlink:to="forty_OtherComprehensiveIncomeFromAvailable-For-SaleSecurities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="forty_OtherComprehensiveIncomeFromAvailable-For-SaleSecurities_lbl" xml:lang="en-US"> Other comprehensive income from available-for-sale securities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax" xlink:to="ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsNetOfTax_2_lbl" xml:lang="en-US"> Unrealized gain from available-for-sale securities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets_2_lbl" xml:lang="en-US"> Realized gain reclassified into profit or loss </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherComprehensiveIncomeFromAvailable-For-SaleSecurities" xlink:to="forty_OtherComprehensiveIncomeFromAvailable-For-SaleSecurities_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="forty_OtherComprehensiveIncomeFromAvailable-For-SaleSecurities_2_lbl" xml:lang="en-US"> Other comprehensive income from available-for-sale securities </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ProceedsFromSaleAndMaturityOfAvailable-For-SaleMarketableSecurities" xlink:label="forty_ProceedsFromSaleAndMaturityOfAvailable-For-SaleMarketableSecurities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ProceedsFromSaleAndMaturityOfAvailable-For-SaleMarketableSecurities" xlink:to="forty_ProceedsFromSaleAndMaturityOfAvailable-For-SaleMarketableSecurities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ProceedsFromSaleAndMaturityOfAvailable-For-SaleMarketableSecurities_lbl" xml:lang="en-US"> Proceeds from sale and maturity of available-for-sale marketable securities </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FinancialIncomeExpenses" xlink:label="forty_FinancialIncomeExpenses"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FinancialIncomeExpenses" xlink:to="forty_FinancialIncomeExpenses_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FinancialIncomeExpenses_lbl" xml:lang="en-US"> Financial income (expenses) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CurrentGovernmentDepartments" xlink:label="forty_CurrentGovernmentDepartments"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CurrentGovernmentDepartments" xlink:to="forty_CurrentGovernmentDepartments_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CurrentGovernmentDepartments_lbl" xml:lang="en-US"> Government departments </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CurrentEmployees" xlink:label="forty_CurrentEmployees"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CurrentEmployees" xlink:to="forty_CurrentEmployees_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CurrentEmployees_lbl" xml:lang="en-US"> Employees </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CurrentPrepaidExpensesAndAdvancesToSuppliers" xlink:label="forty_CurrentPrepaidExpensesAndAdvancesToSuppliers"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CurrentPrepaidExpensesAndAdvancesToSuppliers" xlink:to="forty_CurrentPrepaidExpensesAndAdvancesToSuppliers_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CurrentPrepaidExpensesAndAdvancesToSuppliers_lbl" xml:lang="en-US"> Prepaid expenses and advances to suppliers </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CurrentRestrictedDeposits" xlink:label="forty_CurrentRestrictedDeposits"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CurrentRestrictedDeposits" xlink:to="forty_CurrentRestrictedDeposits_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CurrentRestrictedDeposits_lbl" xml:lang="en-US"> Restricted deposits </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CurrentRelatedParies" xlink:label="forty_CurrentRelatedParies"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CurrentRelatedParies" xlink:to="forty_CurrentRelatedParies_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CurrentRelatedParies_lbl" xml:lang="en-US"> Related Parties </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ReceivablesInRespectOfEmbeddedDerivativeTransaction" xlink:label="forty_ReceivablesInRespectOfEmbeddedDerivativeTransaction"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ReceivablesInRespectOfEmbeddedDerivativeTransaction" xlink:to="forty_ReceivablesInRespectOfEmbeddedDerivativeTransaction_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ReceivablesInRespectOfEmbeddedDerivativeTransaction_lbl" xml:lang="en-US"> Receivables in respect of an embedded derivative transaction </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OthersCurrentAccountsReceivable" xlink:label="forty_OthersCurrentAccountsReceivable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OthersCurrentAccountsReceivable" xlink:to="forty_OthersCurrentAccountsReceivable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OthersCurrentAccountsReceivable_lbl" xml:lang="en-US"> Other </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherCurrentReceivables" xlink:label="ifrs-full_OtherCurrentReceivables"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentReceivables" xlink:to="ifrs-full_OtherCurrentReceivables_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherCurrentReceivables_lbl" xml:lang="en-US"> Total </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable" xlink:to="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsTable_lbl" xml:lang="en-US"> Disclosure of fair value measurement of assets [table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems" xlink:to="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfAssetsLineItems_lbl" xml:lang="en-US"> Disclosure of fair value measurement of assets [line items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level1OfFairValueHierarchyMember" xlink:to="ifrs-full_Level1OfFairValueHierarchyMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember_2_lbl" xml:lang="en-US"> Fair value measurements, Level 1 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level2OfFairValueHierarchyMember" xlink:to="ifrs-full_Level2OfFairValueHierarchyMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember_2_lbl" xml:lang="en-US"> Fair value measurements, Level 2 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level3OfFairValueHierarchyMember" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember_2_lbl" xml:lang="en-US"> Fair value measurements, Level 3 [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReconciliationOfChangesInFairValueMeasurementAssetsAbstract" xlink:label="ifrs-full_ReconciliationOfChangesInFairValueMeasurementAssetsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReconciliationOfChangesInFairValueMeasurementAssetsAbstract" xlink:to="ifrs-full_ReconciliationOfChangesInFairValueMeasurementAssetsAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReconciliationOfChangesInFairValueMeasurementAssetsAbstract_lbl" xml:lang="en-US"> Assets: </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FairValueMarketableSecuritiesThroughProfitOrLoss" xlink:to="forty_FairValueMarketableSecuritiesThroughProfitOrLoss_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="forty_FairValueMarketableSecuritiesThroughProfitOrLoss_2_lbl" xml:lang="en-US"> Marketable debt securities designated at fair value through profit or loss (Note 5): </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FairValueMarketableSecuritiesThroughOtherComprehensiveIncome" xlink:to="forty_FairValueMarketableSecuritiesThroughOtherComprehensiveIncome_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_FairValueMarketableSecuritiesThroughOtherComprehensiveIncome_2_lbl" xml:lang="en-US"> Marketable debt securities measured at fair value through other comprehensive income (Note 5): </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ForeignCurrencyDerivativeContracts" xlink:label="forty_ForeignCurrencyDerivativeContracts"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ForeignCurrencyDerivativeContracts" xlink:to="forty_ForeignCurrencyDerivativeContracts_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ForeignCurrencyDerivativeContracts_lbl" xml:lang="en-US"> Foreign currency derivative contracts </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DividendPreferenceDerivative" xlink:label="forty_DividendPreferenceDerivative"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPreferenceDerivative" xlink:to="forty_DividendPreferenceDerivative_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DividendPreferenceDerivative_lbl" xml:lang="en-US"> Dividend preference derivative in TSG </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Assets_2_lbl" xml:lang="en-US"> Total financial assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReconciliationOfChangesInFairValueMeasurementLiabilitiesAbstract" xlink:label="ifrs-full_ReconciliationOfChangesInFairValueMeasurementLiabilitiesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReconciliationOfChangesInFairValueMeasurementLiabilitiesAbstract" xlink:to="ifrs-full_ReconciliationOfChangesInFairValueMeasurementLiabilitiesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReconciliationOfChangesInFairValueMeasurementLiabilitiesAbstract_lbl" xml:lang="en-US"> Liabilities: </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RedeemableNoncontrollingInterestsAmount" xlink:label="forty_RedeemableNoncontrollingInterestsAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RedeemableNoncontrollingInterestsAmount" xlink:to="forty_RedeemableNoncontrollingInterestsAmount_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_RedeemableNoncontrollingInterestsAmount_lbl" xml:lang="en-US"> Put options of non-controlling interests </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ContingentConsideration" xlink:label="forty_ContingentConsideration"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ContingentConsideration" xlink:to="forty_ContingentConsideration_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ContingentConsideration_lbl" xml:lang="en-US"> Contingent consideration </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Liabilities" xlink:label="ifrs-full_Liabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_Liabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Liabilities_lbl" xml:lang="en-US"> Total financial liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:to="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates_lbl" xml:lang="en-US"> Affiliated company </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod" xlink:to="ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod_lbl" xml:lang="en-US"> Joint venture - TSG </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:to="ifrs-full_InvestmentAccountedForUsingEquityMethod_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod_2_lbl" xml:lang="en-US"> Total </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SharesInvestmentInJointVenture" xlink:label="forty_SharesInvestmentInJointVenture"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SharesInvestmentInJointVenture" xlink:to="forty_SharesInvestmentInJointVenture_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SharesInvestmentInJointVenture_lbl" xml:lang="en-US"> Shares </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CapitalNotesInvestmentInJointVenture" xlink:label="forty_CapitalNotesInvestmentInJointVenture"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CapitalNotesInvestmentInJointVenture" xlink:to="forty_CapitalNotesInvestmentInJointVenture_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CapitalNotesInvestmentInJointVenture_lbl" xml:lang="en-US"> Capital notes </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TotalInvestmentInJointVenture" xlink:label="forty_TotalInvestmentInJointVenture"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TotalInvestmentInJointVenture" xlink:to="forty_TotalInvestmentInJointVenture_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="forty_TotalInvestmentInJointVenture_lbl" xml:lang="en-US"> Total </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DividendPreferenceDerivativeInTsg" xlink:label="forty_DividendPreferenceDerivativeInTsg"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPreferenceDerivativeInTsg" xlink:to="forty_DividendPreferenceDerivativeInTsg_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_DividendPreferenceDerivativeInTsg_lbl" xml:lang="en-US"> Dividend preference derivative in TSG </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GoodwillIncludedInInvestmentInJointVenture" xlink:label="forty_GoodwillIncludedInInvestmentInJointVenture"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GoodwillIncludedInInvestmentInJointVenture" xlink:to="forty_GoodwillIncludedInInvestmentInJointVenture_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_GoodwillIncludedInInvestmentInJointVenture_lbl" xml:lang="en-US"> Goodwill </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:to="ifrs-full_InvestmentAccountedForUsingEquityMethod_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod_3_lbl" xml:lang="en-US"> Beginning balance </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AcquisitionOfSharesInJointVenture" xlink:label="forty_AcquisitionOfSharesInJointVenture"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AcquisitionOfSharesInJointVenture" xlink:to="forty_AcquisitionOfSharesInJointVenture_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AcquisitionOfSharesInJointVenture_lbl" xml:lang="en-US"> Acquisition of shares </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_InvestmentInCapitalNotesOfJointVenture" xlink:label="forty_InvestmentInCapitalNotesOfJointVenture"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InvestmentInCapitalNotesOfJointVenture" xlink:to="forty_InvestmentInCapitalNotesOfJointVenture_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_InvestmentInCapitalNotesOfJointVenture_lbl" xml:lang="en-US"> Investment in capital notes </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CompanysShareOfEarningsLossesOfJointVenture" xlink:label="forty_CompanysShareOfEarningsLossesOfJointVenture"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CompanysShareOfEarningsLossesOfJointVenture" xlink:to="forty_CompanysShareOfEarningsLossesOfJointVenture_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CompanysShareOfEarningsLossesOfJointVenture_lbl" xml:lang="en-US"> Company's share of profit </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ShareOfOtherComprehensiveIncomeOfJointVenture" xlink:label="forty_ShareOfOtherComprehensiveIncomeOfJointVenture"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShareOfOtherComprehensiveIncomeOfJointVenture" xlink:to="forty_ShareOfOtherComprehensiveIncomeOfJointVenture_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ShareOfOtherComprehensiveIncomeOfJointVenture_lbl" xml:lang="en-US"> Company's share of other comprehensive income </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:to="ifrs-full_InvestmentAccountedForUsingEquityMethod_4_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod_4_lbl" xml:lang="en-US"> Ending balance </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInvestmentPropertyTable" xlink:label="ifrs-full_DisclosureOfInvestmentPropertyTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfInvestmentPropertyTable" xlink:to="ifrs-full_DisclosureOfInvestmentPropertyTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfInvestmentPropertyTable_lbl" xml:lang="en-US"> Disclosure of detailed information about investment property [table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfInvestmentPropertyLineItems" xlink:label="ifrs-full_DisclosureOfInvestmentPropertyLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfInvestmentPropertyLineItems" xlink:to="ifrs-full_DisclosureOfInvestmentPropertyLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfInvestmentPropertyLineItems_lbl" xml:lang="en-US"> Disclosure of detailed information about investment property [line items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TsgAdvancedSystemsLtdMember" xlink:to="forty_TsgAdvancedSystemsLtdMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_TsgAdvancedSystemsLtdMember_2_lbl" xml:lang="en-US"> TSG [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_CurrentAssets_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentAssets_2_lbl" xml:lang="en-US"> Current assets </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_NoncurrentAssets_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentAssets_2_lbl" xml:lang="en-US"> Noncurrent assets </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentLiabilities_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentLiabilities_2_lbl" xml:lang="en-US"> Current liabilities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_NoncurrentLiabilities_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentLiabilities_2_lbl" xml:lang="en-US"> Noncurrent liabilities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_4_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Equity_4_lbl" xml:lang="en-US"> Equity </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PercentageOfShareInEquity" xlink:label="forty_PercentageOfShareInEquity"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfShareInEquity" xlink:to="forty_PercentageOfShareInEquity_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PercentageOfShareInEquity_lbl" xml:lang="en-US"> Company's share in TSG </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WorkingCapitalForAssetsAndLiabilities" xlink:label="forty_WorkingCapitalForAssetsAndLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WorkingCapitalForAssetsAndLiabilities" xlink:to="forty_WorkingCapitalForAssetsAndLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WorkingCapitalForAssetsAndLiabilities_lbl" xml:lang="en-US"> Working capital </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ExcessCostOfIntangibleAssetsNetOfDeferredTaxLiabilities" xlink:label="forty_ExcessCostOfIntangibleAssetsNetOfDeferredTaxLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExcessCostOfIntangibleAssetsNetOfDeferredTaxLiabilities" xlink:to="forty_ExcessCostOfIntangibleAssetsNetOfDeferredTaxLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ExcessCostOfIntangibleAssetsNetOfDeferredTaxLiabilities_lbl" xml:lang="en-US"> Excess cost of intangible assets net of deferred tax </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Goodwill" xlink:to="ifrs-full_Goodwill_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Goodwill_3_lbl" xml:lang="en-US"> Goodwill </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:to="ifrs-full_InvestmentAccountedForUsingEquityMethod_5_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod_5_lbl" xml:lang="en-US"> Company's carrying amount of the investment in TSG </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncome_2_lbl" xml:lang="en-US"> Other comprehensive income </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PercentageOfShareProfit" xlink:label="forty_PercentageOfShareProfit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfShareProfit" xlink:to="forty_PercentageOfShareProfit_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_PercentageOfShareProfit_lbl" xml:lang="en-US"> Company's share in TSG </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_BeforeAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax" xlink:label="forty_BeforeAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BeforeAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax" xlink:to="forty_BeforeAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_BeforeAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax_lbl" xml:lang="en-US"> Company's share of total comprehensive income before amortization of excess cost of intangible assets net of tax </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax" xlink:label="forty_AmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax" xlink:to="forty_AmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax_lbl" xml:lang="en-US"> Amortization of excess cost of intangible assets net of tax </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AfterAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax" xlink:label="forty_AfterAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AfterAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax" xlink:to="forty_AfterAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AfterAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax_lbl" xml:lang="en-US"> Company's share of total comprehensive income </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_2_lbl" xml:lang="en-US"> Company's share of other comprehensive income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod_lbl" xml:lang="en-US"> Company's share of profit </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OperatingResultsTotal" xlink:label="forty_OperatingResultsTotal"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OperatingResultsTotal" xlink:to="forty_OperatingResultsTotal_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OperatingResultsTotal_lbl" xml:lang="en-US"> Operating results total </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xml:lang="en-US"> Percentage of share holds by group </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GoodwillEquityAtReportingDate" xlink:label="forty_GoodwillEquityAtReportingDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GoodwillEquityAtReportingDate" xlink:to="forty_GoodwillEquityAtReportingDate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_GoodwillEquityAtReportingDate_lbl" xml:lang="en-US"> Goodwill </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable_lbl" xml:lang="en-US"> Disclosure of detailed information about property, plant and equipment [table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems_lbl" xml:lang="en-US"> Disclosure of detailed information about property, plant and equipment [line items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseholdImprovementsMember" xlink:to="ifrs-full_LeaseholdImprovementsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LeaseholdImprovementsMember_2_lbl" xml:lang="en-US"> Leasehold improvements [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerEquipmentMember" xlink:to="ifrs-full_ComputerEquipmentMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ComputerEquipmentMember_2_lbl" xml:lang="en-US"> Computers, software, furniture and equipment [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BuildingsMember" xlink:to="ifrs-full_BuildingsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BuildingsMember_2_lbl" xml:lang="en-US"> Buildings [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PropertyPlantAndEquipmentsGross" xlink:label="forty_PropertyPlantAndEquipmentsGross"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PropertyPlantAndEquipmentsGross" xlink:to="forty_PropertyPlantAndEquipmentsGross_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PropertyPlantAndEquipmentsGross_lbl" xml:lang="en-US"> Cost </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AccumulatedDepreciationPropertyPlantsAndEquipmentNet" xlink:label="forty_AccumulatedDepreciationPropertyPlantsAndEquipmentNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccumulatedDepreciationPropertyPlantsAndEquipmentNet" xlink:to="forty_AccumulatedDepreciationPropertyPlantsAndEquipmentNet_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AccumulatedDepreciationPropertyPlantsAndEquipmentNet_lbl" xml:lang="en-US"> Accumulated depreciation </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_2_lbl" xml:lang="en-US"> Property, plant and equipment </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PropertyPlantsAndEquipmentsDetailsTextualAbstract" xlink:label="forty_PropertyPlantsAndEquipmentsDetailsTextualAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PropertyPlantsAndEquipmentsDetailsTextualAbstract" xlink:to="forty_PropertyPlantsAndEquipmentsDetailsTextualAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PropertyPlantsAndEquipmentsDetailsTextualAbstract_lbl" xml:lang="en-US"> Property, plants and equipment, net (Textual) </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationExpense" xlink:label="ifrs-full_DepreciationExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationExpense" xlink:to="ifrs-full_DepreciationExpense_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepreciationExpense_lbl" xml:lang="en-US"> Depreciation expenses </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfIntangibleAssetsTable" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsTable" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsTable_lbl" xml:lang="en-US"> Disclosure of detailed information about intangible assets [table] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IntangibleAssetsLineItems" xlink:label="forty_IntangibleAssetsLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IntangibleAssetsLineItems" xlink:to="forty_IntangibleAssetsLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IntangibleAssetsLineItems_lbl" xml:lang="en-US"> Intangible Assets [Line Items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerSoftwareMember" xlink:to="ifrs-full_ComputerSoftwareMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ComputerSoftwareMember_2_lbl" xml:lang="en-US"> Capitalized Software costs [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerRelatedIntangibleAssetsMember" xlink:to="us-gaap_CustomerRelatedIntangibleAssetsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CustomerRelatedIntangibleAssetsMember_2_lbl" xml:lang="en-US"> Customer relationship [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TechnologybasedIntangibleAssetsMember" xlink:to="ifrs-full_TechnologybasedIntangibleAssetsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_TechnologybasedIntangibleAssetsMember_2_lbl" xml:lang="en-US"> Acquired technology [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BacklogAndNonCompeteAgreementMember" xlink:to="forty_BacklogAndNonCompeteAgreementMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_BacklogAndNonCompeteAgreementMember_2_lbl" xml:lang="en-US"> Backlog and non-compete agreement [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIntangibleAssetsMember" xlink:to="ifrs-full_OtherIntangibleAssetsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherIntangibleAssetsMember_2_lbl" xml:lang="en-US"> Other intangibles [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OriginalAmountsOfIntangibleAssetsNet" xlink:label="forty_OriginalAmountsOfIntangibleAssetsNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OriginalAmountsOfIntangibleAssetsNet" xlink:to="forty_OriginalAmountsOfIntangibleAssetsNet_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OriginalAmountsOfIntangibleAssetsNet_lbl" xml:lang="en-US"> Original amounts </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AccumulatedAmortizationOfIntangibleAssetsNet" xlink:label="forty_AccumulatedAmortizationOfIntangibleAssetsNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccumulatedAmortizationOfIntangibleAssetsNet" xlink:to="forty_AccumulatedAmortizationOfIntangibleAssetsNet_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AccumulatedAmortizationOfIntangibleAssetsNet_lbl" xml:lang="en-US"> Accumulated amortization </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmortisationExpense" xlink:label="ifrs-full_AmortisationExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmortisationExpense" xlink:to="ifrs-full_AmortisationExpense_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmortisationExpense_lbl" xml:lang="en-US"> Amortized expenses </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Goodwill" xlink:to="ifrs-full_Goodwill_4_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_Goodwill_4_lbl" xml:lang="en-US"> Balance beginning </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmountsRecognisedForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination" xlink:label="ifrs-full_AmountsRecognisedForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsRecognisedForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination" xlink:to="ifrs-full_AmountsRecognisedForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmountsRecognisedForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination_lbl" xml:lang="en-US"> Acquisition of subsidiaries </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ClassificationsAboutGoodwill" xlink:label="forty_ClassificationsAboutGoodwill"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ClassificationsAboutGoodwill" xlink:to="forty_ClassificationsAboutGoodwill_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ClassificationsAboutGoodwill_lbl" xml:lang="en-US"> Classifications </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ForeignCurrencyTranslationAdjustmentsForGoodwill" xlink:label="forty_ForeignCurrencyTranslationAdjustmentsForGoodwill"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ForeignCurrencyTranslationAdjustmentsForGoodwill" xlink:to="forty_ForeignCurrencyTranslationAdjustmentsForGoodwill_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ForeignCurrencyTranslationAdjustmentsForGoodwill_lbl" xml:lang="en-US"> Foreign currency translation adjustments </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Goodwill" xlink:to="ifrs-full_Goodwill_5_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_Goodwill_5_lbl" xml:lang="en-US"> Balance ending </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable_lbl" xml:lang="en-US"> Disclosure of detailed information about borrowings [table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems_lbl" xml:lang="en-US"> Disclosure of detailed information about borrowings [line items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BankCreditMember" xlink:to="forty_BankCreditMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_BankCreditMember_2_lbl" xml:lang="en-US"> Bank credit [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BankCreditOneMember" xlink:to="forty_BankCreditOneMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_BankCreditOneMember_2_lbl" xml:lang="en-US"> Bank credit 1 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShortTermBankLoansMember" xlink:to="forty_ShortTermBankLoansMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ShortTermBankLoansMember_2_lbl" xml:lang="en-US"> Short-term bank loans [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CurrentMaturitiesOfLongTermLoansFromBanksAndOtherFinancialInstitutionsMember" xlink:to="forty_CurrentMaturitiesOfLongTermLoansFromBanksAndOtherFinancialInstitutionsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_CurrentMaturitiesOfLongTermLoansFromBanksAndOtherFinancialInstitutionsMember_2_lbl" xml:lang="en-US"> Current maturities of long-term loans from banks and other financial institutions [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CurrentMaturitiesOfLongTermLoansFromBanksMember" xlink:to="forty_CurrentMaturitiesOfLongTermLoansFromBanksMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_CurrentMaturitiesOfLongTermLoansFromBanksMember_2_lbl" xml:lang="en-US"> Current maturities of long-term loans from banks [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccumulatedInterestOnLongTermLoansFromOtherFinancialInstitutionsMember" xlink:to="forty_AccumulatedInterestOnLongTermLoansFromOtherFinancialInstitutionsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_AccumulatedInterestOnLongTermLoansFromOtherFinancialInstitutionsMember_2_lbl" xml:lang="en-US"> Short-term interest on long-term loans from other financial institutions [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRateBasis" xlink:label="ifrs-full_BorrowingsInterestRateBasis"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRateBasis" xlink:to="ifrs-full_BorrowingsInterestRateBasis_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsInterestRateBasis_lbl" xml:lang="en-US"> Interest rate % </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsOriginalCurrency" xlink:label="ifrs-full_BorrowingsOriginalCurrency"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsOriginalCurrency" xlink:to="ifrs-full_BorrowingsOriginalCurrency_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsOriginalCurrency_lbl" xml:lang="en-US"> Currency </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentFinancialLiabilities" xlink:to="ifrs-full_CurrentFinancialLiabilities_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentFinancialLiabilities_2_lbl" xml:lang="en-US"> Short term liabilities to banks and others </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GovernmentInstitutionsMember" xlink:to="forty_GovernmentInstitutionsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_GovernmentInstitutionsMember_2_lbl" xml:lang="en-US"> Government institutions [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccruedRoyaltiesToOcsMember" xlink:to="forty_AccruedRoyaltiesToOcsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_AccruedRoyaltiesToOcsMember_2_lbl" xml:lang="en-US"> Accrued royalties to the IIA [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccruedExpensesAndOtherCurrentLiabilitiesMember" xlink:to="forty_AccruedExpensesAndOtherCurrentLiabilitiesMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_AccruedExpensesAndOtherCurrentLiabilitiesMember_2_lbl" xml:lang="en-US"> Accrued expenses and other current liabilities [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermLiabilitiesToBanksAndOthersTable" xlink:label="forty_LongTermLiabilitiesToBanksAndOthersTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermLiabilitiesToBanksAndOthersTable" xlink:to="forty_LongTermLiabilitiesToBanksAndOthersTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LongTermLiabilitiesToBanksAndOthersTable_lbl" xml:lang="en-US"> Long Term Liabilities To Banks And Others [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermLiabilitiesToBanksAndOthersLineItems" xlink:label="forty_LongTermLiabilitiesToBanksAndOthersLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermLiabilitiesToBanksAndOthersLineItems" xlink:to="forty_LongTermLiabilitiesToBanksAndOthersLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LongTermLiabilitiesToBanksAndOthersLineItems_lbl" xml:lang="en-US"> Long Term Liabilities To Banks And Others [Line Items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LinkageBasisCurrencyMember" xlink:to="forty_LinkageBasisCurrencyMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_LinkageBasisCurrencyMember_2_lbl" xml:lang="en-US"> NIS (Unlinked) [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LinkageBasisCurrencyOneMember" xlink:to="forty_LinkageBasisCurrencyOneMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_LinkageBasisCurrencyOneMember_2_lbl" xml:lang="en-US"> NIS (Linked to USD) [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BottomOfRangeMember_3_lbl" xml:lang="en-US"> Minimum [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TopOfRangeMember_3_lbl" xml:lang="en-US"> Maximum [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_InterestRatePercentage" xlink:label="forty_InterestRatePercentage"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InterestRatePercentage" xlink:to="forty_InterestRatePercentage_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_InterestRatePercentage_lbl" xml:lang="en-US"> Interest rate </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRateBasis" xlink:to="ifrs-full_BorrowingsInterestRateBasis_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BorrowingsInterestRateBasis_2_lbl" xml:lang="en-US"> Interest rate, description </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LinkageBasisDescription" xlink:label="forty_LinkageBasisDescription"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LinkageBasisDescription" xlink:to="forty_LinkageBasisDescription_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_LinkageBasisDescription_lbl" xml:lang="en-US"> Currency </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermDebtTotal" xlink:label="forty_LongTermDebtTotal"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtTotal" xlink:to="forty_LongTermDebtTotal_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LongTermDebtTotal_lbl" xml:lang="en-US"> Long-term liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermDebtMaturitiesRepaymentsOfPrincipalCurrentMaturities" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalCurrentMaturities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalCurrentMaturities" xlink:to="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalCurrentMaturities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalCurrentMaturities_lbl" xml:lang="en-US"> Current maturities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentFinancialLiabilities" xlink:to="ifrs-full_NoncurrentFinancialLiabilities_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncurrentFinancialLiabilities_2_lbl" xml:lang="en-US"> Total long-term liabilities net of current maturities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalCurrentMaturities" xlink:to="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalCurrentMaturities_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalCurrentMaturities_2_lbl" xml:lang="en-US"> First year (current maturities) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearTwo" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearTwo"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearTwo" xlink:to="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearTwo_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearTwo_lbl" xml:lang="en-US"> Second year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearThree" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearThree"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearThree" xlink:to="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearThree_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearThree_lbl" xml:lang="en-US"> Third year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFour" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFour"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFour" xlink:to="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFour_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFour_lbl" xml:lang="en-US"> Fourth year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFiveAndThereafter" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFiveAndThereafter"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFiveAndThereafter" xlink:to="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFiveAndThereafter_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFiveAndThereafter_lbl" xml:lang="en-US"> Fifth year and thereafter </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtTotal" xlink:to="forty_LongTermDebtTotal_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="forty_LongTermDebtTotal_2_lbl" xml:lang="en-US"> Total </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermLiabilitiesToBanksAndOthersTextualAbstract" xlink:label="forty_LongTermLiabilitiesToBanksAndOthersTextualAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermLiabilitiesToBanksAndOthersTextualAbstract" xlink:to="forty_LongTermLiabilitiesToBanksAndOthersTextualAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LongTermLiabilitiesToBanksAndOthersTextualAbstract_lbl" xml:lang="en-US"> Long Term Liabilities to Banks and Others (Textual) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LoanAmount" xlink:label="forty_LoanAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LoanAmount" xlink:to="forty_LoanAmount_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LoanAmount_lbl" xml:lang="en-US"> Loan amount </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="ifrs-full_BorrowingsInterestRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRate" xlink:to="ifrs-full_BorrowingsInterestRate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BorrowingsInterestRate_lbl" xml:lang="en-US"> Interest rate </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsMaturity" xlink:label="ifrs-full_BorrowingsMaturity"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsMaturity" xlink:to="ifrs-full_BorrowingsMaturity_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsMaturity_lbl" xml:lang="en-US"> Payment due date </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingCostsIncurred" xlink:label="ifrs-full_BorrowingCostsIncurred"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingCostsIncurred" xlink:to="ifrs-full_BorrowingCostsIncurred_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingCostsIncurred_lbl" xml:lang="en-US"> Borrowed amount </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermDebtMaturityTerm" xlink:label="forty_LongTermDebtMaturityTerm"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtMaturityTerm" xlink:to="forty_LongTermDebtMaturityTerm_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LongTermDebtMaturityTerm_lbl" xml:lang="en-US"> Debt maturity term </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfDetailedInformationAboutDebenturesTable" xlink:label="forty_DisclosureOfDetailedInformationAboutDebenturesTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutDebenturesTable" xlink:to="forty_DisclosureOfDetailedInformationAboutDebenturesTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfDetailedInformationAboutDebenturesTable_lbl" xml:lang="en-US"> Disclosure Of Detailed Information About Debentures [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfAnalysisOfDebenturesByItemLineItems" xlink:label="forty_DisclosureOfAnalysisOfDebenturesByItemLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfAnalysisOfDebenturesByItemLineItems" xlink:to="forty_DisclosureOfAnalysisOfDebenturesByItemLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfAnalysisOfDebenturesByItemLineItems_lbl" xml:lang="en-US"> Disclosure Of Analysis Of Debentures By Item Line Items [Line Items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SecuredDebenturesMember" xlink:to="forty_SecuredDebenturesMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_SecuredDebenturesMember_2_lbl" xml:lang="en-US"> Formula's Series A Secured Debentures (2.8%) [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SecuredDebenturesOneMember" xlink:to="forty_SecuredDebenturesOneMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SecuredDebenturesOneMember_2_lbl" xml:lang="en-US"> Formula's Series B Convertible Debentures (2.74%) [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SecuredDebenturesTwoMember" xlink:to="forty_SecuredDebenturesTwoMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_SecuredDebenturesTwoMember_2_lbl" xml:lang="en-US"> Sapiens' Series B Debentures (3.37%) [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRate" xlink:to="ifrs-full_BorrowingsInterestRate_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BorrowingsInterestRate_2_lbl" xml:lang="en-US"> Effective Interest rate </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotionalAmount" xlink:label="ifrs-full_NotionalAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotionalAmount" xlink:to="ifrs-full_NotionalAmount_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotionalAmount_lbl" xml:lang="en-US"> Par Value </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_UnamortizedDebtPremiumDiscountAndIssuanceCostNet" xlink:label="forty_UnamortizedDebtPremiumDiscountAndIssuanceCostNet"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UnamortizedDebtPremiumDiscountAndIssuanceCostNet" xlink:to="forty_UnamortizedDebtPremiumDiscountAndIssuanceCostNet_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_UnamortizedDebtPremiumDiscountAndIssuanceCostNet_lbl" xml:lang="en-US"> Unamortized debt premium (discount) and issuance costs, net </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:to="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CurrentNotesAndDebenturesIssuedAndCurrentPortionOfNoncurrentNotesAndDebenturesIssued_2_lbl" xml:lang="en-US"> Current maturities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued" xlink:to="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentPortionOfNoncurrentNotesAndDebenturesIssued_2_lbl" xml:lang="en-US"> Total long-term debentures, net of current maturities </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ShorttermAccruedInterest" xlink:label="forty_ShorttermAccruedInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShorttermAccruedInterest" xlink:to="forty_ShorttermAccruedInterest_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ShorttermAccruedInterest_lbl" xml:lang="en-US"> Short-term accrued interest </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongtermAccruedInterest" xlink:label="forty_LongtermAccruedInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongtermAccruedInterest" xlink:to="forty_LongtermAccruedInterest_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LongtermAccruedInterest_lbl" xml:lang="en-US"> Long-term accrued interest </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotesAndDebenturesIssued" xlink:label="ifrs-full_NotesAndDebenturesIssued"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotesAndDebenturesIssued" xlink:to="ifrs-full_NotesAndDebenturesIssued_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotesAndDebenturesIssued_lbl" xml:lang="en-US"> Total short-term and long-term debentures </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RepaymentsOfBondsWithinNextFinancialYear" xlink:label="forty_RepaymentsOfBondsWithinNextFinancialYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RepaymentsOfBondsWithinNextFinancialYear" xlink:to="forty_RepaymentsOfBondsWithinNextFinancialYear_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RepaymentsOfBondsWithinNextFinancialYear_lbl" xml:lang="en-US"> 2018 </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RepaymentsOfBondsWithinNextSecondFinancialYear" xlink:label="forty_RepaymentsOfBondsWithinNextSecondFinancialYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RepaymentsOfBondsWithinNextSecondFinancialYear" xlink:to="forty_RepaymentsOfBondsWithinNextSecondFinancialYear_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RepaymentsOfBondsWithinNextSecondFinancialYear_lbl" xml:lang="en-US"> 2019 </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RepaymentsOfBondsWithinNextThirdFinancialYear" xlink:label="forty_RepaymentsOfBondsWithinNextThirdFinancialYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RepaymentsOfBondsWithinNextThirdFinancialYear" xlink:to="forty_RepaymentsOfBondsWithinNextThirdFinancialYear_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RepaymentsOfBondsWithinNextThirdFinancialYear_lbl" xml:lang="en-US"> 2020 </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RepaymentsOfBondsWithinNextFourthFinancialYear" xlink:label="forty_RepaymentsOfBondsWithinNextFourthFinancialYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RepaymentsOfBondsWithinNextFourthFinancialYear" xlink:to="forty_RepaymentsOfBondsWithinNextFourthFinancialYear_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RepaymentsOfBondsWithinNextFourthFinancialYear_lbl" xml:lang="en-US"> 2021 </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RepaymentsOfBondsWithinNextFifthAndThereafterFinancialYear" xlink:label="forty_RepaymentsOfBondsWithinNextFifthAndThereafterFinancialYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RepaymentsOfBondsWithinNextFifthAndThereafterFinancialYear" xlink:to="forty_RepaymentsOfBondsWithinNextFifthAndThereafterFinancialYear_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RepaymentsOfBondsWithinNextFifthAndThereafterFinancialYear_lbl" xml:lang="en-US"> 2022and thereafter </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AggregatePrincipalAnnualPaymentsOfDebentures" xlink:label="forty_AggregatePrincipalAnnualPaymentsOfDebentures"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AggregatePrincipalAnnualPaymentsOfDebentures" xlink:to="forty_AggregatePrincipalAnnualPaymentsOfDebentures_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="forty_AggregatePrincipalAnnualPaymentsOfDebentures_lbl" xml:lang="en-US"> Total </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FixedInterestRateMember" xlink:to="ifrs-full_FixedInterestRateMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_FixedInterestRateMember_2_lbl" xml:lang="en-US"> Fixed annual interest rate [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SapiensMember" xlink:to="forty_SapiensMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_SapiensMember_2_lbl" xml:lang="en-US"> Sapiens' Series B Debentures [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DebenturesTextualAbstract" xlink:label="forty_DebenturesTextualAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DebenturesTextualAbstract" xlink:to="forty_DebenturesTextualAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DebenturesTextualAbstract_lbl" xml:lang="en-US"> Debentures (Textual) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AccruedInterest" xlink:label="forty_AccruedInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccruedInterest" xlink:to="forty_AccruedInterest_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AccruedInterest_lbl" xml:lang="en-US"> Interest expenses </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DiscountAndIssuanceCostsAmortization" xlink:label="forty_DiscountAndIssuanceCostsAmortization"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DiscountAndIssuanceCostsAmortization" xlink:to="forty_DiscountAndIssuanceCostsAmortization_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DiscountAndIssuanceCostsAmortization_lbl" xml:lang="en-US"> Amortization of debt premium, discount and issuance costs, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NameOfEntityWhoseConsolidatedFinancialStatementsHaveBeenProducedForPublicUse" xlink:label="ifrs-full_NameOfEntityWhoseConsolidatedFinancialStatementsHaveBeenProducedForPublicUse"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NameOfEntityWhoseConsolidatedFinancialStatementsHaveBeenProducedForPublicUse" xlink:to="ifrs-full_NameOfEntityWhoseConsolidatedFinancialStatementsHaveBeenProducedForPublicUse_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NameOfEntityWhoseConsolidatedFinancialStatementsHaveBeenProducedForPublicUse_lbl" xml:lang="en-US"> Public offering, description </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughConversionOfConvertibleInstruments" xlink:label="ifrs-full_IncreaseDecreaseThroughConversionOfConvertibleInstruments"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughConversionOfConvertibleInstruments" xlink:to="ifrs-full_IncreaseDecreaseThroughConversionOfConvertibleInstruments_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughConversionOfConvertibleInstruments_lbl" xml:lang="en-US"> Conversion component valued </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssueOfConvertibleInstruments" xlink:label="ifrs-full_IssueOfConvertibleInstruments"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssueOfConvertibleInstruments" xlink:to="ifrs-full_IssueOfConvertibleInstruments_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IssueOfConvertibleInstruments_lbl" xml:lang="en-US"> Convertible debentures </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PercentageOfPurchasePriceIssuedOfDebentures" xlink:label="forty_PercentageOfPurchasePriceIssuedOfDebentures"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfPurchasePriceIssuedOfDebentures" xlink:to="forty_PercentageOfPurchasePriceIssuedOfDebentures_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PercentageOfPurchasePriceIssuedOfDebentures_lbl" xml:lang="en-US"> Issued purchase price, percentage </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherFeeAndCommissionIncome" xlink:label="ifrs-full_OtherFeeAndCommissionIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherFeeAndCommissionIncome" xlink:to="ifrs-full_OtherFeeAndCommissionIncome_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherFeeAndCommissionIncome_lbl" xml:lang="en-US"> Commission </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShareIssueRelatedCost" xlink:label="ifrs-full_ShareIssueRelatedCost"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareIssueRelatedCost" xlink:to="ifrs-full_ShareIssueRelatedCost_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShareIssueRelatedCost_lbl" xml:lang="en-US"> Issuance costs </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DebtDiscountAndIssuanceCosts" xlink:label="forty_DebtDiscountAndIssuanceCosts"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DebtDiscountAndIssuanceCosts" xlink:to="forty_DebtDiscountAndIssuanceCosts_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DebtDiscountAndIssuanceCosts_lbl" xml:lang="en-US"> Debt discount and issuance costs </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:to="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_2_lbl" xml:lang="en-US"> Debentures amount </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BondsIssued" xlink:label="ifrs-full_BondsIssued"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BondsIssued" xlink:to="ifrs-full_BondsIssued_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BondsIssued_lbl" xml:lang="en-US"> Bonds amounted </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PercentageOfConvertibleBondsPrincipalAmount" xlink:label="forty_PercentageOfConvertibleBondsPrincipalAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfConvertibleBondsPrincipalAmount" xlink:to="forty_PercentageOfConvertibleBondsPrincipalAmount_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PercentageOfConvertibleBondsPrincipalAmount_lbl" xml:lang="en-US"> Principal amount of convertible bonds, percentage </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AverageForeignExchangeRate" xlink:label="ifrs-full_AverageForeignExchangeRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AverageForeignExchangeRate" xlink:to="ifrs-full_AverageForeignExchangeRate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AverageForeignExchangeRate_lbl" xml:lang="en-US"> Average foreign exchange rate </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfForeignExchangeRate" xlink:label="forty_DescriptionOfForeignExchangeRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfForeignExchangeRate" xlink:to="forty_DescriptionOfForeignExchangeRate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfForeignExchangeRate_lbl" xml:lang="en-US"> Exchange rate, description </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfConversionOfDebtToEquity" xlink:label="ifrs-full_DescriptionOfConversionOfDebtToEquity"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfConversionOfDebtToEquity" xlink:to="ifrs-full_DescriptionOfConversionOfDebtToEquity_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfConversionOfDebtToEquity_lbl" xml:lang="en-US"> Conversion price, description </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DebenturesDescription" xlink:label="forty_DebenturesDescription"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DebenturesDescription" xlink:to="forty_DebenturesDescription_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DebenturesDescription_lbl" xml:lang="en-US"> Description of debentures </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ResultOfConversionsEffectedDescription" xlink:label="forty_ResultOfConversionsEffectedDescription"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ResultOfConversionsEffectedDescription" xlink:to="forty_ResultOfConversionsEffectedDescription_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ResultOfConversionsEffectedDescription_lbl" xml:lang="en-US"> Result of conversions effected, description </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable_lbl" xml:lang="en-US"> Disclosure of transactions between related parties [table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems_lbl" xml:lang="en-US"> Disclosure of transactions between related parties [line items] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_BackOfficeAndProfessionalServicesExpense" xlink:label="forty_BackOfficeAndProfessionalServicesExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BackOfficeAndProfessionalServicesExpense" xlink:to="forty_BackOfficeAndProfessionalServicesExpense_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_BackOfficeAndProfessionalServicesExpense_lbl" xml:lang="en-US"> Back office and professional services amount </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ServicesReceivedRelatedPartyTransactions" xlink:label="ifrs-full_ServicesReceivedRelatedPartyTransactions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ServicesReceivedRelatedPartyTransactions" xlink:to="ifrs-full_ServicesReceivedRelatedPartyTransactions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ServicesReceivedRelatedPartyTransactions_lbl" xml:lang="en-US"> Services obtained from Asseco </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions" xlink:label="ifrs-full_OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions" xlink:to="ifrs-full_OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OutstandingCommitmentsMadeOnBehalfOfEntityRelatedPartyTransactions_lbl" xml:lang="en-US"> Services provided to Asseco </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DirectorsRemunerationExpense" xlink:label="ifrs-full_DirectorsRemunerationExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DirectorsRemunerationExpense" xlink:to="ifrs-full_DirectorsRemunerationExpense_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DirectorsRemunerationExpense_lbl" xml:lang="en-US"> Fees paid for board services in affiliates </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:to="ifrs-full_AmountsPayableRelatedPartyTransactions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions_lbl" xml:lang="en-US"> Trade payable balances due to related parties </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:to="ifrs-full_AmountsReceivableRelatedPartyTransactions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions_lbl" xml:lang="en-US"> Trade receivables balances due from related parties </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable_lbl" xml:lang="en-US"> Disclosure of terms and conditions of share-based payment arrangement [table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems_lbl" xml:lang="en-US"> Disclosure of terms and conditions of share-based payment arrangement [line items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CostOfRevenuesMember" xlink:to="forty_CostOfRevenuesMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_CostOfRevenuesMember_2_lbl" xml:lang="en-US"> Cost of revenues [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ResearchAndDevelopmentExpensesMember" xlink:to="forty_ResearchAndDevelopmentExpensesMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ResearchAndDevelopmentExpensesMember_2_lbl" xml:lang="en-US"> Research and development expenses [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SellingAndMarketingExpensesMember" xlink:to="forty_SellingAndMarketingExpensesMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_SellingAndMarketingExpensesMember_2_lbl" xml:lang="en-US"> Selling and marketing expenses [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GeneralAndAdministrativeExpensesMember" xlink:to="forty_GeneralAndAdministrativeExpensesMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_GeneralAndAdministrativeExpensesMember_2_lbl" xml:lang="en-US"> General and administrative expenses [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:to="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_lbl" xml:lang="en-US"> Total stock-based compensation expense </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NumberOfShareOptionsAbstract" xlink:label="forty_NumberOfShareOptionsAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionsAbstract" xlink:to="forty_NumberOfShareOptionsAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NumberOfShareOptionsAbstract_lbl" xml:lang="en-US"> Number of options </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NumberOfShareOptionsOutstanding" xlink:label="forty_NumberOfShareOptionsOutstanding"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionsOutstanding" xlink:to="forty_NumberOfShareOptionsOutstanding_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="forty_NumberOfShareOptionsOutstanding_lbl" xml:lang="en-US"> Outstanding at beginning of year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NumberOfShareOptionExercisedInSharebasedPaymentArrangement" xlink:label="forty_NumberOfShareOptionExercisedInSharebasedPaymentArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionExercisedInSharebasedPaymentArrangement" xlink:to="forty_NumberOfShareOptionExercisedInSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NumberOfShareOptionExercisedInSharebasedPaymentArrangement_lbl" xml:lang="en-US"> Exercised </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NumberOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement" xlink:label="forty_NumberOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement" xlink:to="forty_NumberOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NumberOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement_lbl" xml:lang="en-US"> Granted </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionsOutstanding" xlink:to="forty_NumberOfShareOptionsOutstanding_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="forty_NumberOfShareOptionsOutstanding_2_lbl" xml:lang="en-US"> Outstanding at end of year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangement" xlink:label="forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangement" xlink:to="forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangement_lbl" xml:lang="en-US"> Exercisable at end of year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WeightedAverageExercisePriceAbstract" xlink:label="forty_WeightedAverageExercisePriceAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceAbstract" xlink:to="forty_WeightedAverageExercisePriceAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WeightedAverageExercisePriceAbstract_lbl" xml:lang="en-US"> Weighted average exercise price </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangement" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangement_lbl" xml:lang="en-US"> Outstanding at beginning of year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WeightedAverageExercisePriceOfShareOptionExercisedInSharebasedPaymentArrangement" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionExercisedInSharebasedPaymentArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionExercisedInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionExercisedInSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionExercisedInSharebasedPaymentArrangement_lbl" xml:lang="en-US"> Exercised </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WeightedAverageExercisePriceOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement_lbl" xml:lang="en-US"> Granted </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangement_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangement_2_lbl" xml:lang="en-US"> Outstanding at end of year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangement" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangement_lbl" xml:lang="en-US"> Exercisable at end of year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WeightedAverageRemainingContractualTermAbstract" xlink:label="forty_WeightedAverageRemainingContractualTermAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageRemainingContractualTermAbstract" xlink:to="forty_WeightedAverageRemainingContractualTermAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WeightedAverageRemainingContractualTermAbstract_lbl" xml:lang="en-US"> Weighted average remaining contractual term (in years) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WeightedAverageRemainingContractualTermOfOutstandingShareOptions" xlink:label="forty_WeightedAverageRemainingContractualTermOfOutstandingShareOptions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageRemainingContractualTermOfOutstandingShareOptions" xlink:to="forty_WeightedAverageRemainingContractualTermOfOutstandingShareOptions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WeightedAverageRemainingContractualTermOfOutstandingShareOptions_lbl" xml:lang="en-US"> Outstanding </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WeightedAverageRemainingContractualTermOfGrantedShareOptions" xlink:label="forty_WeightedAverageRemainingContractualTermOfGrantedShareOptions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageRemainingContractualTermOfGrantedShareOptions" xlink:to="forty_WeightedAverageRemainingContractualTermOfGrantedShareOptions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_WeightedAverageRemainingContractualTermOfGrantedShareOptions_lbl" xml:lang="en-US"> Granted </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WeightedAverageRemainingContractualTermOfExercisableShareOptions" xlink:label="forty_WeightedAverageRemainingContractualTermOfExercisableShareOptions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageRemainingContractualTermOfExercisableShareOptions" xlink:to="forty_WeightedAverageRemainingContractualTermOfExercisableShareOptions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_WeightedAverageRemainingContractualTermOfExercisableShareOptions_lbl" xml:lang="en-US"> Exercisable at end of year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AggregateIntrinsicValueAbstract" xlink:label="forty_AggregateIntrinsicValueAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AggregateIntrinsicValueAbstract" xlink:to="forty_AggregateIntrinsicValueAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AggregateIntrinsicValueAbstract_lbl" xml:lang="en-US"> Aggregate intrinsic value </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AggregateIntrinsicValueOfOutstandingShareOptions" xlink:label="forty_AggregateIntrinsicValueOfOutstandingShareOptions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AggregateIntrinsicValueOfOutstandingShareOptions" xlink:to="forty_AggregateIntrinsicValueOfOutstandingShareOptions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="forty_AggregateIntrinsicValueOfOutstandingShareOptions_lbl" xml:lang="en-US"> Outstanding at beginning of year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AggregateIntrinsicValueOfExercisedShareOptions" xlink:label="forty_AggregateIntrinsicValueOfExercisedShareOptions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AggregateIntrinsicValueOfExercisedShareOptions" xlink:to="forty_AggregateIntrinsicValueOfExercisedShareOptions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_AggregateIntrinsicValueOfExercisedShareOptions_lbl" xml:lang="en-US"> Exercised </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AggregateIntrinsicValueOfGrantedShareOptions" xlink:label="forty_AggregateIntrinsicValueOfGrantedShareOptions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AggregateIntrinsicValueOfGrantedShareOptions" xlink:to="forty_AggregateIntrinsicValueOfGrantedShareOptions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_AggregateIntrinsicValueOfGrantedShareOptions_lbl" xml:lang="en-US"> Granted </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AggregateIntrinsicValueOfOutstandingShareOptions" xlink:to="forty_AggregateIntrinsicValueOfOutstandingShareOptions_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="forty_AggregateIntrinsicValueOfOutstandingShareOptions_2_lbl" xml:lang="en-US"> Outstanding at end of year </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AggregateIntrinsicValueOfExercisableShareOptions" xlink:label="forty_AggregateIntrinsicValueOfExercisableShareOptions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AggregateIntrinsicValueOfExercisableShareOptions" xlink:to="forty_AggregateIntrinsicValueOfExercisableShareOptions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_AggregateIntrinsicValueOfExercisableShareOptions_lbl" xml:lang="en-US"> Exercisable at end of year </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionsAbstract" xlink:to="forty_NumberOfShareOptionsAbstract_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_NumberOfShareOptionsAbstract_2_lbl" xml:lang="en-US"> Amount of options </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NumberOfShareOptionGrantedInSharebasedPaymentArrangement" xlink:label="forty_NumberOfShareOptionGrantedInSharebasedPaymentArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionGrantedInSharebasedPaymentArrangement" xlink:to="forty_NumberOfShareOptionGrantedInSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_NumberOfShareOptionGrantedInSharebasedPaymentArrangement_lbl" xml:lang="en-US"> Granted </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement" xlink:to="forty_NumberOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_NumberOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement_2_lbl" xml:lang="en-US"> Expired and forfeited </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WeightedAverageExercisePriceOfShareOptionGrantedInSharebasedPaymentArrangement" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionGrantedInSharebasedPaymentArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionGrantedInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionGrantedInSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionGrantedInSharebasedPaymentArrangement_lbl" xml:lang="en-US"> Granted </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement_2_lbl" xml:lang="en-US"> Expired and forfeited </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsTable" xlink:label="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsTable" xlink:to="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsTable_lbl" xml:lang="en-US"> Disclosure of range of exercise prices of outstanding share options [table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsLineItems" xlink:label="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsLineItems" xlink:to="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsLineItems_lbl" xml:lang="en-US"> Disclosure of range of exercise prices of outstanding share options [line items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeOneMember" xlink:to="forty_ExercisePriceRangeOneMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ExercisePriceRangeOneMember_2_lbl" xml:lang="en-US"> Exercise Price Range 0.88-1.48 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeTwoMember" xlink:to="forty_ExercisePriceRangeTwoMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ExercisePriceRangeTwoMember_2_lbl" xml:lang="en-US"> Exercise Price Range 4.12-5.67 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeThreeMember" xlink:to="forty_ExercisePriceRangeThreeMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ExercisePriceRangeThreeMember_2_lbl" xml:lang="en-US"> Exercise Price Range 6.32-6.91 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeFourMember" xlink:to="forty_ExercisePriceRangeFourMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ExercisePriceRangeFourMember_2_lbl" xml:lang="en-US"> Exercise Price Range 7.82 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeFiveMember" xlink:to="forty_ExercisePriceRangeFiveMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ExercisePriceRangeFiveMember_2_lbl" xml:lang="en-US"> Exercise Price Range 8.67-9.18 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeSixMember" xlink:to="forty_ExercisePriceRangeSixMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ExercisePriceRangeSixMember_2_lbl" xml:lang="en-US"> Exercise Price Range 9.33-9.8 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeSevenMember" xlink:to="forty_ExercisePriceRangeSevenMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ExercisePriceRangeSevenMember_2_lbl" xml:lang="en-US"> Exercise Price Range 10.18-10.81 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeEightMember" xlink:to="forty_ExercisePriceRangeEightMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ExercisePriceRangeEightMember_2_lbl" xml:lang="en-US"> Exercise Price Range 11.43-12.53 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeNineMember" xlink:to="forty_ExercisePriceRangeNineMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ExercisePriceRangeNineMember_2_lbl" xml:lang="en-US"> Exercise Price Range 12.62-13.5 [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RangeOfExercisePricesOfOutstandingShareOptionsLowerLimit" xlink:label="forty_RangeOfExercisePricesOfOutstandingShareOptionsLowerLimit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RangeOfExercisePricesOfOutstandingShareOptionsLowerLimit" xlink:to="forty_RangeOfExercisePricesOfOutstandingShareOptionsLowerLimit_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RangeOfExercisePricesOfOutstandingShareOptionsLowerLimit_lbl" xml:lang="en-US"> Ranges of exercise price, lower limit </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RangeOfExercisePricesOfOutstandingShareOptionsUpperLimit" xlink:label="forty_RangeOfExercisePricesOfOutstandingShareOptionsUpperLimit"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RangeOfExercisePricesOfOutstandingShareOptionsUpperLimit" xlink:to="forty_RangeOfExercisePricesOfOutstandingShareOptionsUpperLimit_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RangeOfExercisePricesOfOutstandingShareOptionsUpperLimit_lbl" xml:lang="en-US"> Ranges of exercise price, upper limit </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RangeOfExercisePricesOfOutstandingShareOptions" xlink:label="forty_RangeOfExercisePricesOfOutstandingShareOptions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RangeOfExercisePricesOfOutstandingShareOptions" xlink:to="forty_RangeOfExercisePricesOfOutstandingShareOptions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RangeOfExercisePricesOfOutstandingShareOptions_lbl" xml:lang="en-US"> Ranges of exercise price </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NumberOfShareOptionOutstanding" xlink:label="forty_NumberOfShareOptionOutstanding"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionOutstanding" xlink:to="forty_NumberOfShareOptionOutstanding_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NumberOfShareOptionOutstanding_lbl" xml:lang="en-US"> Options outstanding </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageRemainingContractualTermOfOutstandingShareOptions" xlink:to="forty_WeightedAverageRemainingContractualTermOfOutstandingShareOptions_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_WeightedAverageRemainingContractualTermOfOutstandingShareOptions_2_lbl" xml:lang="en-US"> Weighted Average remaining contractual Term (In Years) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangements" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangements"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangements" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangements_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangements_lbl" xml:lang="en-US"> Weighted average exercise price </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangements" xlink:label="forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangements"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangements" xlink:to="forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangements_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangements_lbl" xml:lang="en-US"> Options Exercisable </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangements" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangements"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangements" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangements_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangements_lbl" xml:lang="en-US"> Weighted Average Exercise price of Options Exercisable </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NumberOfShareOptionForfeitedInSharebasedPaymentArrangement" xlink:label="forty_NumberOfShareOptionForfeitedInSharebasedPaymentArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionForfeitedInSharebasedPaymentArrangement" xlink:to="forty_NumberOfShareOptionForfeitedInSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NumberOfShareOptionForfeitedInSharebasedPaymentArrangement_lbl" xml:lang="en-US"> Forfeited </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WeightedAverageExercisePriceOfShareOptionForfeitedInSharebasedPaymentArrangement" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionForfeitedInSharebasedPaymentArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionForfeitedInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionForfeitedInSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionForfeitedInSharebasedPaymentArrangement_lbl" xml:lang="en-US"> Forfeited </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeOneMember" xlink:to="forty_ExercisePriceRangeOneMember_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="forty_ExercisePriceRangeOneMember_3_lbl" xml:lang="en-US"> Exercise Price Range 0-1 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeTwoMember" xlink:to="forty_ExercisePriceRangeTwoMember_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="forty_ExercisePriceRangeTwoMember_3_lbl" xml:lang="en-US"> Exercise Price Range 2.01-3 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeThreeMember" xlink:to="forty_ExercisePriceRangeThreeMember_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="forty_ExercisePriceRangeThreeMember_3_lbl" xml:lang="en-US"> Exercise Price Range 3.01-4 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeFourMember" xlink:to="forty_ExercisePriceRangeFourMember_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="forty_ExercisePriceRangeFourMember_3_lbl" xml:lang="en-US"> Exercise Price Range 5.01-6 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceRangeFiveMember" xlink:to="forty_ExercisePriceRangeFiveMember_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="forty_ExercisePriceRangeFiveMember_3_lbl" xml:lang="en-US"> Exercise Price Range 8.01-9 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RangeOfExercisePricesOfOutstandingShareOptionsLowerLimit" xlink:to="forty_RangeOfExercisePricesOfOutstandingShareOptionsLowerLimit_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_RangeOfExercisePricesOfOutstandingShareOptionsLowerLimit_2_lbl" xml:lang="en-US"> Ranges of Exercise price, lower limit </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RangeOfExercisePricesOfOutstandingShareOptionsUpperLimit" xlink:to="forty_RangeOfExercisePricesOfOutstandingShareOptionsUpperLimit_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_RangeOfExercisePricesOfOutstandingShareOptionsUpperLimit_2_lbl" xml:lang="en-US"> Ranges of Exercise price, upper limit </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageRemainingContractualTermOfOutstandingShareOptions" xlink:to="forty_WeightedAverageRemainingContractualTermOfOutstandingShareOptions_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="forty_WeightedAverageRemainingContractualTermOfOutstandingShareOptions_3_lbl" xml:lang="en-US"> Weighted average remaining contractual life (Years) </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TwoThousandElevenPlanMember" xlink:to="forty_TwoThousandElevenPlanMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_TwoThousandElevenPlanMember_2_lbl" xml:lang="en-US"> 2011 Plan [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GutmanMember" xlink:to="forty_GutmanMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_GutmanMember_2_lbl" xml:lang="en-US"> Mr. Moti Gutman [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_EmployeeOptionPlansTextualAbstract" xlink:label="forty_EmployeeOptionPlansTextualAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EmployeeOptionPlansTextualAbstract" xlink:to="forty_EmployeeOptionPlansTextualAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_EmployeeOptionPlansTextualAbstract_lbl" xml:lang="en-US"> Employee Option Plans (Textual) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OptionsToPurchaseOfOrdinaryShares" xlink:label="forty_OptionsToPurchaseOfOrdinaryShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OptionsToPurchaseOfOrdinaryShares" xlink:to="forty_OptionsToPurchaseOfOrdinaryShares_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OptionsToPurchaseOfOrdinaryShares_lbl" xml:lang="en-US"> Options to purchase of ordinary shares </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares" xlink:label="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares" xlink:to="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SharesReservedForIssueUnderOptionsAndContractsForSaleOfShares_lbl" xml:lang="en-US"> Ordinary shares reserved for issuance </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangement" xlink:to="forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangement_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangement_2_lbl" xml:lang="en-US"> Exercisable for ordinary shares </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfVestingRequirementsForSharebasedPaymentArrangement" xlink:label="ifrs-full_DescriptionOfVestingRequirementsForSharebasedPaymentArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfVestingRequirementsForSharebasedPaymentArrangement" xlink:to="ifrs-full_DescriptionOfVestingRequirementsForSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfVestingRequirementsForSharebasedPaymentArrangement_lbl" xml:lang="en-US"> Description of options vest </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ExercisePriceOfOptionsPerShare" xlink:label="forty_ExercisePriceOfOptionsPerShare"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceOfOptionsPerShare" xlink:to="forty_ExercisePriceOfOptionsPerShare_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ExercisePriceOfOptionsPerShare_lbl" xml:lang="en-US"> Exercise price of options per share </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted" xlink:label="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted" xlink:to="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted_lbl" xml:lang="en-US"> Total fair value of grant </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FairValueOfGrantSharePricePerShare" xlink:label="forty_FairValueOfGrantSharePricePerShare"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FairValueOfGrantSharePricePerShare" xlink:to="forty_FairValueOfGrantSharePricePerShare_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FairValueOfGrantSharePricePerShare_lbl" xml:lang="en-US"> Fair value of grant share price per share </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RedeemableOrdinaryShares" xlink:label="forty_RedeemableOrdinaryShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RedeemableOrdinaryShares" xlink:to="forty_RedeemableOrdinaryShares_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RedeemableOrdinaryShares_lbl" xml:lang="en-US"> Redeemable ordinary shares </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RestrictedShares" xlink:label="forty_RestrictedShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RestrictedShares" xlink:to="forty_RestrictedShares_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RestrictedShares_lbl" xml:lang="en-US"> Number of restricted shares </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding_4_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NumberOfSharesOutstanding_4_lbl" xml:lang="en-US"> Ordinary shares </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_VestedPortionOfRestrictedShares" xlink:label="forty_VestedPortionOfRestrictedShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_VestedPortionOfRestrictedShares" xlink:to="forty_VestedPortionOfRestrictedShares_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_VestedPortionOfRestrictedShares_lbl" xml:lang="en-US"> Vested portion of restricted shares </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OptionsExpirePeriods" xlink:label="forty_OptionsExpirePeriods"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OptionsExpirePeriods" xlink:to="forty_OptionsExpirePeriods_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OptionsExpirePeriods_lbl" xml:lang="en-US"> Options expire periods </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_UnrecognizedCompensationCosts" xlink:label="forty_UnrecognizedCompensationCosts"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UnrecognizedCompensationCosts" xlink:to="forty_UnrecognizedCompensationCosts_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_UnrecognizedCompensationCosts_lbl" xml:lang="en-US"> Unrecognized compensation costs </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IntrinsicValueOfOptionsExercised" xlink:label="forty_IntrinsicValueOfOptionsExercised"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IntrinsicValueOfOptionsExercised" xlink:to="forty_IntrinsicValueOfOptionsExercised_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IntrinsicValueOfOptionsExercised_lbl" xml:lang="en-US"> Intrinsic value of options exercised </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionGrantedInSharebasedPaymentArrangement" xlink:to="forty_NumberOfShareOptionGrantedInSharebasedPaymentArrangement_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NumberOfShareOptionGrantedInSharebasedPaymentArrangement_2_lbl" xml:lang="en-US"> Granted stock options </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_WeightedAverageGrantDateFairValuesOfOptions" xlink:label="forty_WeightedAverageGrantDateFairValuesOfOptions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageGrantDateFairValuesOfOptions" xlink:to="forty_WeightedAverageGrantDateFairValuesOfOptions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WeightedAverageGrantDateFairValuesOfOptions_lbl" xml:lang="en-US"> Weighted average grant date fair values of options </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:to="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl" xml:lang="en-US"> Total equity-based compensation expense </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfMethodOfSettlementForSharebasedPaymentArrangement" xlink:label="ifrs-full_DescriptionOfMethodOfSettlementForSharebasedPaymentArrangement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfMethodOfSettlementForSharebasedPaymentArrangement" xlink:to="ifrs-full_DescriptionOfMethodOfSettlementForSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfMethodOfSettlementForSharebasedPaymentArrangement_lbl" xml:lang="en-US"> Description of restricted shares majority-owned subsidiary </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SaleOfStockNumberOfSharesIssued" xlink:label="forty_SaleOfStockNumberOfSharesIssued"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SaleOfStockNumberOfSharesIssued" xlink:to="forty_SaleOfStockNumberOfSharesIssued_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SaleOfStockNumberOfSharesIssued_lbl" xml:lang="en-US"> Asseco sale of ordinary shares </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SaleOfStockPercentageOfOwnershipTransaction" xlink:label="forty_SaleOfStockPercentageOfOwnershipTransaction"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SaleOfStockPercentageOfOwnershipTransaction" xlink:to="forty_SaleOfStockPercentageOfOwnershipTransaction_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SaleOfStockPercentageOfOwnershipTransaction_lbl" xml:lang="en-US"> Percentage of outstanding share capital </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PercentageOfInterestRateStated" xlink:label="forty_PercentageOfInterestRateStated"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfInterestRateStated" xlink:to="forty_PercentageOfInterestRateStated_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PercentageOfInterestRateStated_lbl" xml:lang="en-US"> Percentage of share interest decreased </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ShareBasedPaymentsUnvestedShares" xlink:label="forty_ShareBasedPaymentsUnvestedShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShareBasedPaymentsUnvestedShares" xlink:to="forty_ShareBasedPaymentsUnvestedShares_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ShareBasedPaymentsUnvestedShares_lbl" xml:lang="en-US"> Unvested shares </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl" xml:lang="en-US"> Fair value options, risk-free interest rate </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfExerciseShareOptionsGranted" xlink:label="forty_DescriptionOfExerciseShareOptionsGranted"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfExerciseShareOptionsGranted" xlink:to="forty_DescriptionOfExerciseShareOptionsGranted_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfExerciseShareOptionsGranted_lbl" xml:lang="en-US"> Fair value options, exercise factor </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl" xml:lang="en-US"> Fair value options, expected volatility </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfOptionLifeShareOptionsGranted" xlink:label="ifrs-full_DescriptionOfOptionLifeShareOptionsGranted"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfOptionLifeShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfOptionLifeShareOptionsGranted_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfOptionLifeShareOptionsGranted_lbl" xml:lang="en-US"> Fair value options, contractual life </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_2_lbl" xml:lang="en-US"> Proportion of ownership interest in subsidiary </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:to="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl" xml:lang="en-US"> Defined benefit obligation </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PlanAssetsAtFairValue" xlink:label="ifrs-full_PlanAssetsAtFairValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PlanAssetsAtFairValue" xlink:to="ifrs-full_PlanAssetsAtFairValue_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ifrs-full_PlanAssetsAtFairValue_lbl" xml:lang="en-US"> Fair value of plan assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RecognisedLiabilitiesDefinedBenefitPlan" xlink:label="ifrs-full_RecognisedLiabilitiesDefinedBenefitPlan"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RecognisedLiabilitiesDefinedBenefitPlan" xlink:to="ifrs-full_RecognisedLiabilitiesDefinedBenefitPlan_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_RecognisedLiabilitiesDefinedBenefitPlan_lbl" xml:lang="en-US"> Net defined benefit liability </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfCommitmentsAndContingenciesTable" xlink:label="forty_DisclosureOfCommitmentsAndContingenciesTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfCommitmentsAndContingenciesTable" xlink:to="forty_DisclosureOfCommitmentsAndContingenciesTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfCommitmentsAndContingenciesTable_lbl" xml:lang="en-US"> Commitments and Contingencies [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfCommitmentsAndContingenciesLineItems" xlink:label="forty_DisclosureOfCommitmentsAndContingenciesLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfCommitmentsAndContingenciesLineItems" xlink:to="forty_DisclosureOfCommitmentsAndContingenciesLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DisclosureOfCommitmentsAndContingenciesLineItems_lbl" xml:lang="en-US"> Commitments and Contingencies [Line Items] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FinancialInstitutionCreditAgreement" xlink:label="forty_FinancialInstitutionCreditAgreement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FinancialInstitutionCreditAgreement" xlink:to="forty_FinancialInstitutionCreditAgreement_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FinancialInstitutionCreditAgreement_lbl" xml:lang="en-US"> Financial institution credit agreement </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SecuredDebentures" xlink:label="forty_SecuredDebentures"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SecuredDebentures" xlink:to="forty_SecuredDebentures_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SecuredDebentures_lbl" xml:lang="en-US"> Formula's Series A Secured Debentures </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotLaterThanOneYearMember" xlink:to="ifrs-full_NotLaterThanOneYearMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NotLaterThanOneYearMember_2_lbl" xml:lang="en-US"> 2019 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_2_lbl" xml:lang="en-US"> 2020 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_2_lbl" xml:lang="en-US"> 2021 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_2_lbl" xml:lang="en-US"> 2022 [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_2_lbl" xml:lang="en-US"> 2023 and Thereafter [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MinimumOperatingLeasePayments" xlink:label="ifrs-full_MinimumOperatingLeasePayments"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MinimumOperatingLeasePayments" xlink:to="ifrs-full_MinimumOperatingLeasePayments_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MinimumOperatingLeasePayments_lbl" xml:lang="en-US"> Operating lease commitments </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ConvertibleDebenturesSeriesBMember" xlink:to="forty_ConvertibleDebenturesSeriesBMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ConvertibleDebenturesSeriesBMember_2_lbl" xml:lang="en-US"> Series B Convertible Debentures [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SecuredDebenturesSeriesMember" xlink:to="forty_SecuredDebenturesSeriesMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_SecuredDebenturesSeriesMember_2_lbl" xml:lang="en-US"> Series A Secured Debentures [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CustomersAndSuppliersMember" xlink:to="forty_CustomersAndSuppliersMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_CustomersAndSuppliersMember_2_lbl" xml:lang="en-US"> Customers and suppliers [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ContractsWithCustomersMember" xlink:to="forty_ContractsWithCustomersMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ContractsWithCustomersMember_2_lbl" xml:lang="en-US"> Contracts with customers [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IssuedAdditionalPrivatePlacementOfParValue" xlink:label="forty_IssuedAdditionalPrivatePlacementOfParValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuedAdditionalPrivatePlacementOfParValue" xlink:to="forty_IssuedAdditionalPrivatePlacementOfParValue_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IssuedAdditionalPrivatePlacementOfParValue_lbl" xml:lang="en-US"> Issued additional private placement of par value </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IssuedPledgedAdditionalShares" xlink:label="forty_IssuedPledgedAdditionalShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuedPledgedAdditionalShares" xlink:to="forty_IssuedPledgedAdditionalShares_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IssuedPledgedAdditionalShares_lbl" xml:lang="en-US"> Issued pledged additional shares </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IssuedUnpledgedSharesToFinancialInstitutions" xlink:label="forty_IssuedUnpledgedSharesToFinancialInstitutions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuedUnpledgedSharesToFinancialInstitutions" xlink:to="forty_IssuedUnpledgedSharesToFinancialInstitutions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IssuedUnpledgedSharesToFinancialInstitutions_lbl" xml:lang="en-US"> Issued unpledged shares to financial institution's </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IssuedPledgedSharesParValue" xlink:label="forty_IssuedPledgedSharesParValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuedPledgedSharesParValue" xlink:to="forty_IssuedPledgedSharesParValue_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IssuedPledgedSharesParValue_lbl" xml:lang="en-US"> Issued pledged shares par value </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IssuedPledgedShares" xlink:label="forty_IssuedPledgedShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuedPledgedShares" xlink:to="forty_IssuedPledgedShares_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IssuedPledgedShares_lbl" xml:lang="en-US"> Issued pledged shares </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_BankGuaranteesAmount" xlink:label="forty_BankGuaranteesAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BankGuaranteesAmount" xlink:to="forty_BankGuaranteesAmount_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_BankGuaranteesAmount_lbl" xml:lang="en-US"> Bank guarantees amount </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BalancesOnOtherDepositsFromCustomers" xlink:label="ifrs-full_BalancesOnOtherDepositsFromCustomers"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BalancesOnOtherDepositsFromCustomers" xlink:to="ifrs-full_BalancesOnOtherDepositsFromCustomers_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BalancesOnOtherDepositsFromCustomers_lbl" xml:lang="en-US"> Restricted bank deposits </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LineOfCreditFacilityCommitmentPercentage" xlink:label="forty_LineOfCreditFacilityCommitmentPercentage"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LineOfCreditFacilityCommitmentPercentage" xlink:to="forty_LineOfCreditFacilityCommitmentPercentage_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LineOfCreditFacilityCommitmentPercentage_lbl" xml:lang="en-US"> Percentage of total balance sheet will not exceed by debt </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MatrixDebtRatio" xlink:label="forty_MatrixDebtRatio"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MatrixDebtRatio" xlink:to="forty_MatrixDebtRatio_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MatrixDebtRatio_lbl" xml:lang="en-US"> Ratio of debts </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_MatrixEquityAmount" xlink:label="forty_MatrixEquityAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MatrixEquityAmount" xlink:to="forty_MatrixEquityAmount_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_MatrixEquityAmount_lbl" xml:lang="en-US"> Matrix equity amount </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PercentageOfMatrixShareCapital" xlink:label="forty_PercentageOfMatrixShareCapital"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfMatrixShareCapital" xlink:to="forty_PercentageOfMatrixShareCapital_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PercentageOfMatrixShareCapital_lbl" xml:lang="en-US"> Percentage of matrix share capital </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl" xml:lang="en-US"> Balances of cash and short-term investments </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PercenatgeOfShareholderInterest" xlink:label="forty_PercenatgeOfShareholderInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercenatgeOfShareholderInterest" xlink:to="forty_PercenatgeOfShareholderInterest_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PercenatgeOfShareholderInterest_lbl" xml:lang="en-US"> Percentage of shareholder's interest </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsClassifiedAsExpense" xlink:label="ifrs-full_DividendsClassifiedAsExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsClassifiedAsExpense" xlink:to="ifrs-full_DividendsClassifiedAsExpense_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsClassifiedAsExpense_lbl" xml:lang="en-US"> Matrix committed not to distribute dividends </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OthersEquity" xlink:label="forty_OthersEquity"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OthersEquity" xlink:to="forty_OthersEquity_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OthersEquity_lbl" xml:lang="en-US"> Matrix's equity measured based on IFRS </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LiabilityToFinancialInstitutionDescription" xlink:label="forty_LiabilityToFinancialInstitutionDescription"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LiabilityToFinancialInstitutionDescription" xlink:to="forty_LiabilityToFinancialInstitutionDescription_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LiabilityToFinancialInstitutionDescription_lbl" xml:lang="en-US"> Description of liability to financial institution </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ShareholdersEquityNotIncludedMinorityInterest" xlink:label="forty_ShareholdersEquityNotIncludedMinorityInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShareholdersEquityNotIncludedMinorityInterest" xlink:to="forty_ShareholdersEquityNotIncludedMinorityInterest_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ShareholdersEquityNotIncludedMinorityInterest_lbl" xml:lang="en-US"> Shareholders' equity not including minority interests amount </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PercentageOfNetFinancialIndebtedness" xlink:label="forty_PercentageOfNetFinancialIndebtedness"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfNetFinancialIndebtedness" xlink:to="forty_PercentageOfNetFinancialIndebtedness_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PercentageOfNetFinancialIndebtedness_lbl" xml:lang="en-US"> Percentage of financial indebtedness </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PercentageOfProfitsAccruedDistribution" xlink:label="forty_PercentageOfProfitsAccruedDistribution"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfProfitsAccruedDistribution" xlink:to="forty_PercentageOfProfitsAccruedDistribution_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PercentageOfProfitsAccruedDistribution_lbl" xml:lang="en-US"> Percentage of profits accrued distribution </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ProfitsDistributionsDescription" xlink:label="forty_ProfitsDistributionsDescription"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ProfitsDistributionsDescription" xlink:to="forty_ProfitsDistributionsDescription_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ProfitsDistributionsDescription_lbl" xml:lang="en-US"> Profits distributions, description </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DebenturesTradingTerms" xlink:label="forty_DebenturesTradingTerms"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DebenturesTradingTerms" xlink:to="forty_DebenturesTradingTerms_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DebenturesTradingTerms_lbl" xml:lang="en-US"> TASE over a period </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ContingencyDamagesSoughtValue" xlink:label="forty_ContingencyDamagesSoughtValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ContingencyDamagesSoughtValue" xlink:to="forty_ContingencyDamagesSoughtValue_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ContingencyDamagesSoughtValue_lbl" xml:lang="en-US"> Company sought damages amount </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ContingencyLawsuitSumAmount" xlink:label="forty_ContingencyLawsuitSumAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ContingencyLawsuitSumAmount" xlink:to="forty_ContingencyLawsuitSumAmount_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ContingencyLawsuitSumAmount_lbl" xml:lang="en-US"> Software company filed a lawsuit amount </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RefundAmountOfDamages" xlink:label="forty_RefundAmountOfDamages"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RefundAmountOfDamages" xlink:to="forty_RefundAmountOfDamages_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_RefundAmountOfDamages_lbl" xml:lang="en-US"> Refund of contracts plus damages aggregate amount </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TenderCosts" xlink:label="forty_TenderCosts"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TenderCosts" xlink:to="forty_TenderCosts_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TenderCosts_lbl" xml:lang="en-US"> One indictment regarding a tender amount </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PaymentOfPlaintiffsAmount" xlink:label="forty_PaymentOfPlaintiffsAmount"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PaymentOfPlaintiffsAmount" xlink:to="forty_PaymentOfPlaintiffsAmount_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PaymentOfPlaintiffsAmount_lbl" xml:lang="en-US"> Payment of plaintiffs amount </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RentalExpense" xlink:label="ifrs-full_RentalExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RentalExpense" xlink:to="ifrs-full_RentalExpense_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RentalExpense_lbl" xml:lang="en-US"> Rent expenses </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RoyaltyExpense" xlink:label="ifrs-full_RoyaltyExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RoyaltyExpense" xlink:to="ifrs-full_RoyaltyExpense_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RoyaltyExpense_lbl" xml:lang="en-US"> Royalty expenses </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ContingentLiabilityToPayRoyalties" xlink:label="forty_ContingentLiabilityToPayRoyalties"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ContingentLiabilityToPayRoyalties" xlink:to="forty_ContingentLiabilityToPayRoyalties_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ContingentLiabilityToPayRoyalties_lbl" xml:lang="en-US"> Estimated amount due to OCS </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ContingentLiability" xlink:label="forty_ContingentLiability"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ContingentLiability" xlink:to="forty_ContingentLiability_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ContingentLiability_lbl" xml:lang="en-US"> Contingent liability </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfCurrentCommitmentsOrIntentionsToProvideSupportToSubsidiary" xlink:label="ifrs-full_DescriptionOfCurrentCommitmentsOrIntentionsToProvideSupportToSubsidiary"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfCurrentCommitmentsOrIntentionsToProvideSupportToSubsidiary" xlink:to="ifrs-full_DescriptionOfCurrentCommitmentsOrIntentionsToProvideSupportToSubsidiary_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfCurrentCommitmentsOrIntentionsToProvideSupportToSubsidiary_lbl" xml:lang="en-US"> Royalty commitments, description </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilities" xlink:label="ifrs-full_FinancialLiabilities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilities" xlink:to="ifrs-full_FinancialLiabilities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilities_lbl" xml:lang="en-US"> Financial liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PercenatgeOfShortTermDepositsAndShortTermMarketableSecuritiesToAssets" xlink:label="forty_PercenatgeOfShortTermDepositsAndShortTermMarketableSecuritiesToAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercenatgeOfShortTermDepositsAndShortTermMarketableSecuritiesToAssets" xlink:to="forty_PercenatgeOfShortTermDepositsAndShortTermMarketableSecuritiesToAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_PercenatgeOfShortTermDepositsAndShortTermMarketableSecuritiesToAssets_lbl" xml:lang="en-US"> Percenatge of short term deposits and short term marketable securities to total assets </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InformationWhetherAndHowExpectedDividendsWereIncorporatedIntoMeasurementOfFairValueOtherEquityInstrumentsGranted" xlink:label="ifrs-full_InformationWhetherAndHowExpectedDividendsWereIncorporatedIntoMeasurementOfFairValueOtherEquityInstrumentsGranted"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InformationWhetherAndHowExpectedDividendsWereIncorporatedIntoMeasurementOfFairValueOtherEquityInstrumentsGranted" xlink:to="ifrs-full_InformationWhetherAndHowExpectedDividendsWereIncorporatedIntoMeasurementOfFairValueOtherEquityInstrumentsGranted_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InformationWhetherAndHowExpectedDividendsWereIncorporatedIntoMeasurementOfFairValueOtherEquityInstrumentsGranted_lbl" xml:lang="en-US"> Distribute dividends except, description </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ArbitrationExpenses" xlink:label="forty_ArbitrationExpenses"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ArbitrationExpenses" xlink:to="forty_ArbitrationExpenses_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ArbitrationExpenses_lbl" xml:lang="en-US"> Arbitration expenses </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfEquityLevel" xlink:label="forty_DescriptionOfEquityLevel"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfEquityLevel" xlink:to="forty_DescriptionOfEquityLevel_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfEquityLevel_lbl" xml:lang="en-US"> Description of equity level </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:to="ifrs-full_DisclosureOfClassesOfShareCapitalTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalTable_lbl" xml:lang="en-US"> Disclosure of classes of share capital [table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems_lbl" xml:lang="en-US"> Disclosure of classes of share capital [line items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesAuthorised" xlink:to="ifrs-full_NumberOfSharesAuthorised_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NumberOfSharesAuthorised_2_lbl" xml:lang="en-US"> Authorized </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesIssued" xlink:to="ifrs-full_NumberOfSharesIssued_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfSharesIssued_3_lbl" xml:lang="en-US"> Issued </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding_5_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfSharesOutstanding_5_lbl" xml:lang="en-US"> Outstanding </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfTreasurySharesOutstanding" xlink:to="forty_NumberOfTreasurySharesOutstanding_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_NumberOfTreasurySharesOutstanding_2_lbl" xml:lang="en-US"> Ordinary shares hold </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DividendPayable" xlink:label="forty_DividendPayable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPayable" xlink:to="forty_DividendPayable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DividendPayable_lbl" xml:lang="en-US"> Amount of cash dividend </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DividendPayableAmountPerShare" xlink:label="forty_DividendPayableAmountPerShare"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPayableAmountPerShare" xlink:to="forty_DividendPayableAmountPerShare_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DividendPayableAmountPerShare_lbl" xml:lang="en-US"> Cash dividend per share </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DividendPayableDateOfRecordDayMonthAndYear" xlink:label="forty_DividendPayableDateOfRecordDayMonthAndYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPayableDateOfRecordDayMonthAndYear" xlink:to="forty_DividendPayableDateOfRecordDayMonthAndYear_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DividendPayableDateOfRecordDayMonthAndYear_lbl" xml:lang="en-US"> Dividend payable, record date </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DividendsPayableDateToBePaidDayMonthAndYear" xlink:label="forty_DividendsPayableDateToBePaidDayMonthAndYear"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendsPayableDateToBePaidDayMonthAndYear" xlink:to="forty_DividendsPayableDateToBePaidDayMonthAndYear_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DividendsPayableDateToBePaidDayMonthAndYear_lbl" xml:lang="en-US"> Dividend payable, paid date </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDeferredTaxAssets" xlink:to="ifrs-full_NetDeferredTaxAssets_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NetDeferredTaxAssets_2_lbl" xml:lang="en-US"> Deferred taxes assets </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxLiabilities_2_lbl" xml:lang="en-US"> Deferred tax liabilities </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxLiabilityAsset_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xml:lang="en-US"> Total </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DeferredTaxAssetNetOperatingLossesCarriedForward" xlink:label="forty_DeferredTaxAssetNetOperatingLossesCarriedForward"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxAssetNetOperatingLossesCarriedForward" xlink:to="forty_DeferredTaxAssetNetOperatingLossesCarriedForward_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DeferredTaxAssetNetOperatingLossesCarriedForward_lbl" xml:lang="en-US"> Net operating losses carried forward </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DeferredTaxAssetsAllowancesReservesAndIntangibleAssets" xlink:label="forty_DeferredTaxAssetsAllowancesReservesAndIntangibleAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxAssetsAllowancesReservesAndIntangibleAssets" xlink:to="forty_DeferredTaxAssetsAllowancesReservesAndIntangibleAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DeferredTaxAssetsAllowancesReservesAndIntangibleAssets_lbl" xml:lang="en-US"> Intangibles and fixed assets </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DeferredTaxAssetsCashForTax" xlink:label="forty_DeferredTaxAssetsCashForTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxAssetsCashForTax" xlink:to="forty_DeferredTaxAssetsCashForTax_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DeferredTaxAssetsCashForTax_lbl" xml:lang="en-US"> Differences in measurement basis (cash basis for tax purposes) </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DeferredTaxesOther" xlink:label="forty_DeferredTaxesOther"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxesOther" xlink:to="forty_DeferredTaxesOther_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_DeferredTaxesOther_lbl" xml:lang="en-US"> Other </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfGeographicalAreasTable" xlink:label="ifrs-full_DisclosureOfGeographicalAreasTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGeographicalAreasTable" xlink:to="ifrs-full_DisclosureOfGeographicalAreasTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfGeographicalAreasTable_lbl" xml:lang="en-US"> Disclosure of geographical areas [table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfGeographicalAreasLineItems" xlink:label="ifrs-full_DisclosureOfGeographicalAreasLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGeographicalAreasLineItems" xlink:to="ifrs-full_DisclosureOfGeographicalAreasLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfGeographicalAreasLineItems_lbl" xml:lang="en-US"> Disclosure of geographical areas [line items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CountryOfDomicileMember" xlink:to="ifrs-full_CountryOfDomicileMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CountryOfDomicileMember_2_lbl" xml:lang="en-US"> Domestic (Israel) [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ForeignCountriesMember" xlink:to="ifrs-full_ForeignCountriesMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ForeignCountriesMember_2_lbl" xml:lang="en-US"> Foreign [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en-US"> Total </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentTaxExpenseIncome" xlink:label="ifrs-full_CurrentTaxExpenseIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxExpenseIncome" xlink:to="ifrs-full_CurrentTaxExpenseIncome_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTaxExpenseIncome_lbl" xml:lang="en-US"> Current taxes </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxExpenseIncome" xlink:label="ifrs-full_DeferredTaxExpenseIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncome" xlink:to="ifrs-full_DeferredTaxExpenseIncome_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DeferredTaxExpenseIncome_lbl" xml:lang="en-US"> Deferred taxes </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_2_lbl" xml:lang="en-US"> Total </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossBeforeTax_2_lbl" xml:lang="en-US"> Income before income taxes, as per the statement of operations </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxRateEffectFromChangeInTaxRate" xlink:label="ifrs-full_TaxRateEffectFromChangeInTaxRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxRateEffectFromChangeInTaxRate" xlink:to="ifrs-full_TaxRateEffectFromChangeInTaxRate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxRateEffectFromChangeInTaxRate_lbl" xml:lang="en-US"> Statutory tax rate in Israel </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:to="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate_lbl" xml:lang="en-US"> Tax computed at the statutory tax rate </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NonDeductibleExpenses" xlink:label="forty_NonDeductibleExpenses"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NonDeductibleExpenses" xlink:to="forty_NonDeductibleExpenses_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NonDeductibleExpenses_lbl" xml:lang="en-US"> Non-deductible expenses (non-taxable income) net and tax-deductible costs not included in the accounting costs </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxEffectFromChangeInTaxRate" xlink:label="ifrs-full_TaxEffectFromChangeInTaxRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxEffectFromChangeInTaxRate" xlink:to="ifrs-full_TaxEffectFromChangeInTaxRate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxEffectFromChangeInTaxRate_lbl" xml:lang="en-US"> Effect of different tax rates </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_EffectOfApprovedBeneficiaryOrPreferredEnterpriseStatus" xlink:label="forty_EffectOfApprovedBeneficiaryOrPreferredEnterpriseStatus"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EffectOfApprovedBeneficiaryOrPreferredEnterpriseStatus" xlink:to="forty_EffectOfApprovedBeneficiaryOrPreferredEnterpriseStatus_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_EffectOfApprovedBeneficiaryOrPreferredEnterpriseStatus_lbl" xml:lang="en-US"> Effect of "Approved, Beneficiary or Preferred Enterprise" status </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod_lbl" xml:lang="en-US"> Group's share of profits of companies accounted for at equity </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DeferredTaxesOnCurrentLosses" xlink:label="forty_DeferredTaxesOnCurrentLosses"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxesOnCurrentLosses" xlink:to="forty_DeferredTaxesOnCurrentLosses_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DeferredTaxesOnCurrentLosses_lbl" xml:lang="en-US"> Deferred taxes on current losses (utilization of carry forward losses) and temporary differences for which a valuation allowance was provided, net </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxEffectOfForeignTaxRates" xlink:label="ifrs-full_TaxEffectOfForeignTaxRates"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxEffectOfForeignTaxRates" xlink:to="ifrs-full_TaxEffectOfForeignTaxRates_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxEffectOfForeignTaxRates_lbl" xml:lang="en-US"> Effect of change in tax rates </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TaxesInRespectOfPriorYears" xlink:label="forty_TaxesInRespectOfPriorYears"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TaxesInRespectOfPriorYears" xlink:to="forty_TaxesInRespectOfPriorYears_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TaxesInRespectOfPriorYears_lbl" xml:lang="en-US"> Taxes in respect of prior years </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NonRefundableWithholdingTaxAndTaxAdvances" xlink:label="forty_NonRefundableWithholdingTaxAndTaxAdvances"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NonRefundableWithholdingTaxAndTaxAdvances" xlink:to="forty_NonRefundableWithholdingTaxAndTaxAdvances_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NonRefundableWithholdingTaxAndTaxAdvances_lbl" xml:lang="en-US"> Uncertain tax positions </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OtherTaxes" xlink:label="forty_OtherTaxes"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherTaxes" xlink:to="forty_OtherTaxes_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_OtherTaxes_lbl" xml:lang="en-US"> Other </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_UnrecognizedTaxOnIncomeBenefits" xlink:label="forty_UnrecognizedTaxOnIncomeBenefits"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UnrecognizedTaxOnIncomeBenefits" xlink:to="forty_UnrecognizedTaxOnIncomeBenefits_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="forty_UnrecognizedTaxOnIncomeBenefits_lbl" xml:lang="en-US"> Beginning Balance </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:label="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:to="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_lbl" xml:lang="en-US"> Increase due to consolidation in a subsidiary </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DecreaseRelatedToPriorYearsTaxPositions" xlink:label="forty_DecreaseRelatedToPriorYearsTaxPositions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DecreaseRelatedToPriorYearsTaxPositions" xlink:to="forty_DecreaseRelatedToPriorYearsTaxPositions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DecreaseRelatedToPriorYearsTaxPositions_lbl" xml:lang="en-US"> Decrease related to prior years' tax positions </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IncreaseRelatedToCurrentYearTaxPositions" xlink:label="forty_IncreaseRelatedToCurrentYearTaxPositions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncreaseRelatedToCurrentYearTaxPositions" xlink:to="forty_IncreaseRelatedToCurrentYearTaxPositions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IncreaseRelatedToCurrentYearTaxPositions_lbl" xml:lang="en-US"> Increase related to current year tax positions </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UnrecognizedTaxOnIncomeBenefits" xlink:to="forty_UnrecognizedTaxOnIncomeBenefits_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="forty_UnrecognizedTaxOnIncomeBenefits_2_lbl" xml:lang="en-US"> Ending Balance </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TaxesOnIncomeTextualAbstract" xlink:label="forty_TaxesOnIncomeTextualAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TaxesOnIncomeTextualAbstract" xlink:to="forty_TaxesOnIncomeTextualAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_TaxesOnIncomeTextualAbstract_lbl" xml:lang="en-US"> Taxes on Income (Textual) </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod" xlink:label="ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod" xlink:to="ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExplanationOfChangesInApplicableTaxRatesToPreviousAccountingPeriod_lbl" xml:lang="en-US"> Corporate income tax rate, description </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ReducedTaxRate" xlink:label="forty_ReducedTaxRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ReducedTaxRate" xlink:to="forty_ReducedTaxRate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ReducedTaxRate_lbl" xml:lang="en-US"> Reduced tax rate </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IncomeTaxesDescription" xlink:label="forty_IncomeTaxesDescription"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncomeTaxesDescription" xlink:to="forty_IncomeTaxesDescription_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IncomeTaxesDescription_lbl" xml:lang="en-US"> Description of income taxes </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ApplicableTaxRate" xlink:label="ifrs-full_ApplicableTaxRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ApplicableTaxRate" xlink:to="ifrs-full_ApplicableTaxRate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xml:lang="en-US"> Applicable tax rate </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FiledNoticeDescription" xlink:label="forty_FiledNoticeDescription"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FiledNoticeDescription" xlink:to="forty_FiledNoticeDescription_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FiledNoticeDescription_lbl" xml:lang="en-US"> Filed notice, description </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfNewAmendmentTaxRate" xlink:label="forty_DescriptionOfNewAmendmentTaxRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfNewAmendmentTaxRate" xlink:to="forty_DescriptionOfNewAmendmentTaxRate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfNewAmendmentTaxRate_lbl" xml:lang="en-US"> Description of new amendment tax rate </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxRateEffectOfRevenuesExemptFromTaxation" xlink:label="ifrs-full_TaxRateEffectOfRevenuesExemptFromTaxation"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxRateEffectOfRevenuesExemptFromTaxation" xlink:to="ifrs-full_TaxRateEffectOfRevenuesExemptFromTaxation_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxRateEffectOfRevenuesExemptFromTaxation_lbl" xml:lang="en-US"> Tax rate for dividends paid from income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxRateEffectOfForeignTaxRates" xlink:label="ifrs-full_TaxRateEffectOfForeignTaxRates"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxRateEffectOfForeignTaxRates" xlink:to="ifrs-full_TaxRateEffectOfForeignTaxRates_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxRateEffectOfForeignTaxRates_lbl" xml:lang="en-US"> Reduced to dividends paid to foreign resident company </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SubsidiariesTaxableIncomeTaxRate" xlink:label="forty_SubsidiariesTaxableIncomeTaxRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SubsidiariesTaxableIncomeTaxRate" xlink:to="forty_SubsidiariesTaxableIncomeTaxRate_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SubsidiariesTaxableIncomeTaxRate_lbl" xml:lang="en-US"> Subsidiaries' taxable income tax rate </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IndustrialEncouragementLawDescription" xlink:label="forty_IndustrialEncouragementLawDescription"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IndustrialEncouragementLawDescription" xlink:to="forty_IndustrialEncouragementLawDescription_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IndustrialEncouragementLawDescription_lbl" xml:lang="en-US"> Industrial encouragement law, description </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NumberOfCompanies" xlink:label="forty_NumberOfCompanies"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfCompanies" xlink:to="forty_NumberOfCompanies_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NumberOfCompanies_lbl" xml:lang="en-US"> Number of companies </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_UndistributedEarningsOfForeignSubsidiariesAndAffiliates" xlink:label="forty_UndistributedEarningsOfForeignSubsidiariesAndAffiliates"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UndistributedEarningsOfForeignSubsidiariesAndAffiliates" xlink:to="forty_UndistributedEarningsOfForeignSubsidiariesAndAffiliates_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_UndistributedEarningsOfForeignSubsidiariesAndAffiliates_lbl" xml:lang="en-US"> Undistributed earnings of foreign subsidiaries and affiliates </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IncomeTaxesDistributedAsDividend" xlink:label="forty_IncomeTaxesDistributedAsDividend"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncomeTaxesDistributedAsDividend" xlink:to="forty_IncomeTaxesDistributedAsDividend_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IncomeTaxesDistributedAsDividend_lbl" xml:lang="en-US"> Income taxes distributed as dividend </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FederalCorporateIncomeTaxRateDescription" xlink:label="forty_FederalCorporateIncomeTaxRateDescription"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FederalCorporateIncomeTaxRateDescription" xlink:to="forty_FederalCorporateIncomeTaxRateDescription_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FederalCorporateIncomeTaxRateDescription_lbl" xml:lang="en-US"> Federal corporate income tax rate, description </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CumulativeLossesForTaxPurposes" xlink:label="forty_CumulativeLossesForTaxPurposes"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CumulativeLossesForTaxPurposes" xlink:to="forty_CumulativeLossesForTaxPurposes_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CumulativeLossesForTaxPurposes_lbl" xml:lang="en-US"> Cumulative losses for tax purposes </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_OperatingLossCarryForwards1" xlink:label="forty_OperatingLossCarryForwards1"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OperatingLossCarryForwards1" xlink:to="forty_OperatingLossCarryForwards1_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OperatingLossCarryForwards1_lbl" xml:lang="en-US"> Operating loss carry forwards </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FutureTaxableIncome" xlink:label="forty_FutureTaxableIncome"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FutureTaxableIncome" xlink:to="forty_FutureTaxableIncome_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FutureTaxableIncome_lbl" xml:lang="en-US"> Future taxable income </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FutureTaxableIncomeForForeign" xlink:label="forty_FutureTaxableIncomeForForeign"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FutureTaxableIncomeForForeign" xlink:to="forty_FutureTaxableIncomeForForeign_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FutureTaxableIncomeForForeign_lbl" xml:lang="en-US"> Future taxable income abroad companies </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SourceAssets" xlink:label="forty_SourceAssets"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SourceAssets" xlink:to="forty_SourceAssets_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SourceAssets_lbl" xml:lang="en-US"> Source assets amount </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AmountsRecognizedForInterestAndPenaltiesExpensesRelatedToUncertainTaxPositions" xlink:label="forty_AmountsRecognizedForInterestAndPenaltiesExpensesRelatedToUncertainTaxPositions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AmountsRecognizedForInterestAndPenaltiesExpensesRelatedToUncertainTaxPositions" xlink:to="forty_AmountsRecognizedForInterestAndPenaltiesExpensesRelatedToUncertainTaxPositions_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AmountsRecognizedForInterestAndPenaltiesExpensesRelatedToUncertainTaxPositions_lbl" xml:lang="en-US"> Amounts recognized for interest and penalties expenses related to uncertain tax positions </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_InterestAndPenaltiesExpenses" xlink:label="forty_InterestAndPenaltiesExpenses"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InterestAndPenaltiesExpenses" xlink:to="forty_InterestAndPenaltiesExpenses_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_InterestAndPenaltiesExpenses_lbl" xml:lang="en-US"> Interest and penalties expenses </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ConsolidatedLiabilityUnrecognizedTaxBenefits" xlink:label="forty_ConsolidatedLiabilityUnrecognizedTaxBenefits"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ConsolidatedLiabilityUnrecognizedTaxBenefits" xlink:to="forty_ConsolidatedLiabilityUnrecognizedTaxBenefits_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ConsolidatedLiabilityUnrecognizedTaxBenefits_lbl" xml:lang="en-US"> Consolidated liability for unrecognized tax benefits </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IncomeTaxAssessmentsDescription" xlink:label="forty_IncomeTaxAssessmentsDescription"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncomeTaxAssessmentsDescription" xlink:to="forty_IncomeTaxAssessmentsDescription_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IncomeTaxAssessmentsDescription_lbl" xml:lang="en-US"> Income tax assessments, description </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NonControllingInterestInMaterialPartiallyTable" xlink:label="forty_NonControllingInterestInMaterialPartiallyTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NonControllingInterestInMaterialPartiallyTable" xlink:to="forty_NonControllingInterestInMaterialPartiallyTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NonControllingInterestInMaterialPartiallyTable_lbl" xml:lang="en-US"> NonControllingInterestInMaterialPartiallyTable [Table] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NonControllingInterestInMaterialPartiallyLineItems" xlink:label="forty_NonControllingInterestInMaterialPartiallyLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NonControllingInterestInMaterialPartiallyLineItems" xlink:to="forty_NonControllingInterestInMaterialPartiallyLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NonControllingInterestInMaterialPartiallyLineItems_lbl" xml:lang="en-US"> NonControllingInterestInMaterialPartiallyLineItems [Line Items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MagicSoftwareMember" xlink:to="forty_MagicSoftwareMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_MagicSoftwareMember_2_lbl" xml:lang="en-US"> Magic [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterests" xlink:to="ifrs-full_NoncontrollingInterests_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NoncontrollingInterests_2_lbl" xml:lang="en-US"> Non-controlling interest </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FinancialExpensesAbstract" xlink:label="forty_FinancialExpensesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FinancialExpensesAbstract" xlink:to="forty_FinancialExpensesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FinancialExpensesAbstract_lbl" xml:lang="en-US"> Financial expenses: </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations" xlink:label="forty_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations" xlink:to="forty_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations_lbl" xml:lang="en-US"> Financial expenses related to liabilities in respect of business combinations </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_InterestExpensesOnShortTermAndLongTermLoans" xlink:label="forty_InterestExpensesOnShortTermAndLongTermLoans"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InterestExpensesOnShortTermAndLongTermLoans" xlink:to="forty_InterestExpensesOnShortTermAndLongTermLoans_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_InterestExpensesOnShortTermAndLongTermLoans_lbl" xml:lang="en-US"> Interest expenses on short-term and long-term loans </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FinancialCostsRelatedToDebentures" xlink:label="forty_FinancialCostsRelatedToDebentures"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FinancialCostsRelatedToDebentures" xlink:to="forty_FinancialCostsRelatedToDebentures_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FinancialCostsRelatedToDebentures_lbl" xml:lang="en-US"> Financial costs related to Debentures </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_BankChargesInterestAndForeignExchangeDifferences" xlink:label="forty_BankChargesInterestAndForeignExchangeDifferences"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BankChargesInterestAndForeignExchangeDifferences" xlink:to="forty_BankChargesInterestAndForeignExchangeDifferences_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_BankChargesInterestAndForeignExchangeDifferences_lbl" xml:lang="en-US"> Bank charges, negative foreign exchange differences and other financial expenses </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_FinancialIncomeAbstract" xlink:label="forty_FinancialIncomeAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FinancialIncomeAbstract" xlink:to="forty_FinancialIncomeAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_FinancialIncomeAbstract_lbl" xml:lang="en-US"> Financial income: </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IncomeFromMarketableSecurities" xlink:label="forty_IncomeFromMarketableSecurities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncomeFromMarketableSecurities" xlink:to="forty_IncomeFromMarketableSecurities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IncomeFromMarketableSecurities_lbl" xml:lang="en-US"> Income from marketable securities and embedded derivative </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_InterestIncomeFromDepositsAndForeignExchangeDifferences" xlink:label="forty_InterestIncomeFromDepositsAndForeignExchangeDifferences"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InterestIncomeFromDepositsAndForeignExchangeDifferences" xlink:to="forty_InterestIncomeFromDepositsAndForeignExchangeDifferences_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_InterestIncomeFromDepositsAndForeignExchangeDifferences_lbl" xml:lang="en-US"> Interest income from deposits, positive foreign exchange differences and other financial income </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinanceIncomeCost" xlink:label="ifrs-full_FinanceIncomeCost"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncomeCost" xlink:to="ifrs-full_FinanceIncomeCost_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_FinanceIncomeCost_lbl" xml:lang="en-US"> Total </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EuropeanMember" xlink:to="forty_EuropeanMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_EuropeanMember_2_lbl" xml:lang="en-US"> Europe [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OthersMember" xlink:to="forty_OthersMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_OthersMember_2_lbl" xml:lang="en-US"> Other [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_3_lbl" xml:lang="en-US"> Property and equipment </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AfricaianMember" xlink:to="forty_AfricaianMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_AfricaianMember_2_lbl" xml:lang="en-US"> Africa [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OthersMember" xlink:to="forty_OthersMember_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="forty_OthersMember_3_lbl" xml:lang="en-US"> Other (mainly Asia pacific) [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NumeratorAbstract" xlink:label="forty_NumeratorAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumeratorAbstract" xlink:to="forty_NumeratorAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NumeratorAbstract_lbl" xml:lang="en-US"> Numerator: </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NetIncomeBasicEarningsPerShareIncomeAvailableToShareholders" xlink:label="forty_NetIncomeBasicEarningsPerShareIncomeAvailableToShareholders"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NetIncomeBasicEarningsPerShareIncomeAvailableToShareholders" xlink:to="forty_NetIncomeBasicEarningsPerShareIncomeAvailableToShareholders_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NetIncomeBasicEarningsPerShareIncomeAvailableToShareholders_lbl" xml:lang="en-US"> Net income basic earnings per share - income available to shareholders </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AmountForDilutedEarningsPerShareIncomeAvailableToShareholders" xlink:label="forty_AmountForDilutedEarningsPerShareIncomeAvailableToShareholders"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AmountForDilutedEarningsPerShareIncomeAvailableToShareholders" xlink:to="forty_AmountForDilutedEarningsPerShareIncomeAvailableToShareholders_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AmountForDilutedEarningsPerShareIncomeAvailableToShareholders_lbl" xml:lang="en-US"> Amount for diluted earnings per share - income available to shareholders </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WeightedAverageSharesAndAdjustedWeightedAverageSharesAbstract" xlink:label="ifrs-full_WeightedAverageSharesAndAdjustedWeightedAverageSharesAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageSharesAndAdjustedWeightedAverageSharesAbstract" xlink:to="ifrs-full_WeightedAverageSharesAndAdjustedWeightedAverageSharesAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_WeightedAverageSharesAndAdjustedWeightedAverageSharesAbstract_lbl" xml:lang="en-US"> Denominator: </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DenominatorForBasicNetEarningsPerShare" xlink:label="forty_DenominatorForBasicNetEarningsPerShare"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DenominatorForBasicNetEarningsPerShare" xlink:to="forty_DenominatorForBasicNetEarningsPerShare_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DenominatorForBasicNetEarningsPerShare_lbl" xml:lang="en-US"> Basic earnings per share - weighted average shares outstanding </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_EffectOfDilutiveSecurities" xlink:label="forty_EffectOfDilutiveSecurities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EffectOfDilutiveSecurities" xlink:to="forty_EffectOfDilutiveSecurities_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_EffectOfDilutiveSecurities_lbl" xml:lang="en-US"> Effect of dilutive securities </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DenominatorForDilutedNetEarningsPerShare" xlink:label="forty_DenominatorForDilutedNetEarningsPerShare"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DenominatorForDilutedNetEarningsPerShare" xlink:to="forty_DenominatorForDilutedNetEarningsPerShare_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DenominatorForDilutedNetEarningsPerShare_lbl" xml:lang="en-US"> Diluted earnings per share - adjusted weighted average shares outstanding </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShare" xlink:to="ifrs-full_BasicEarningsLossPerShare_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShare_2_lbl" xml:lang="en-US"> Basic net earnings per share </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShare" xlink:to="ifrs-full_DilutedEarningsLossPerShare_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DilutedEarningsLossPerShare_2_lbl" xml:lang="en-US"> Diluted net earnings per share </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfOperatingSegmentsTable" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOperatingSegmentsTable" xlink:to="ifrs-full_DisclosureOfOperatingSegmentsTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsTable_lbl" xml:lang="en-US"> Disclosure of operating segments [table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfOperatingSegmentsLineItems" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOperatingSegmentsLineItems" xlink:to="ifrs-full_DisclosureOfOperatingSegmentsLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfOperatingSegmentsLineItems_lbl" xml:lang="en-US"> Disclosure of operating segments [line items] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromContractsWithCustomers" xlink:label="ifrs-full_RevenueFromContractsWithCustomers"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromContractsWithCustomers" xlink:to="ifrs-full_RevenueFromContractsWithCustomers_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueFromContractsWithCustomers_lbl" xml:lang="en-US"> Revenues from external customers </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_InterSegmentRevenues" xlink:label="forty_InterSegmentRevenues"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InterSegmentRevenues" xlink:to="forty_InterSegmentRevenues_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_InterSegmentRevenues_lbl" xml:lang="en-US"> Inter-segment revenues </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_UnallocatedCorporateExpenses" xlink:label="forty_UnallocatedCorporateExpenses"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UnallocatedCorporateExpenses" xlink:to="forty_UnallocatedCorporateExpenses_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_UnallocatedCorporateExpenses_lbl" xml:lang="en-US"> Unallocated corporate expenses </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationAndAmortisationExpense" xlink:label="ifrs-full_DepreciationAndAmortisationExpense"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationAndAmortisationExpense" xlink:to="ifrs-full_DepreciationAndAmortisationExpense_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl" xml:lang="en-US"> Depreciation and amortization </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_ProfitLossFromOperatingActivities_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossFromOperatingActivities_2_lbl" xml:lang="en-US"> Operating income (loss) </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncomeCost" xlink:to="ifrs-full_FinanceIncomeCost_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinanceIncomeCost_2_lbl" xml:lang="en-US"> Financial expenses, net </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod_2_lbl" xml:lang="en-US"> Group's share of profits of companies accounted for at equity, net </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SoftwareSolutionsAndServicesInIsraelMember" xlink:to="forty_SoftwareSolutionsAndServicesInIsraelMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_SoftwareSolutionsAndServicesInIsraelMember_2_lbl" xml:lang="en-US"> Information Technologies (IT) Software solutions and services, Consulting & Management in Israel [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SoftwareSolutionsAndServicesInUnitedStatusMember" xlink:to="forty_SoftwareSolutionsAndServicesInUnitedStatusMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_SoftwareSolutionsAndServicesInUnitedStatusMember_2_lbl" xml:lang="en-US"> Information Technologies (IT) Software solutions and services in the U.S [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LearningAndIntegrationMember" xlink:to="forty_LearningAndIntegrationMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_LearningAndIntegrationMember_2_lbl" xml:lang="en-US"> Training and integration [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ComputerInfrastructureAndIntegrationSolutionsMember" xlink:to="forty_ComputerInfrastructureAndIntegrationSolutionsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_ComputerInfrastructureAndIntegrationSolutionsMember_2_lbl" xml:lang="en-US"> Computer infrastructure and integration solutions [Member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SoftwareProductMarketingAndSupportMember" xlink:to="forty_SoftwareProductMarketingAndSupportMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_SoftwareProductMarketingAndSupportMember_2_lbl" xml:lang="en-US"> Software product marketing and support [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FactorsUsedToIdentifyEntitysReportableSegments" xlink:label="ifrs-full_FactorsUsedToIdentifyEntitysReportableSegments"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FactorsUsedToIdentifyEntitysReportableSegments" xlink:to="ifrs-full_FactorsUsedToIdentifyEntitysReportableSegments_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FactorsUsedToIdentifyEntitysReportableSegments_lbl" xml:lang="en-US"> Description of factors used to segments </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:label="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:to="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable_lbl" xml:lang="en-US"> Disclosure of non-adjusting events after reporting period [table] </link:label>
<link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:label="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems_lbl" xml:lang="en-US"> Disclosure of non-adjusting events after reporting period [line items] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EventsAfterReportingPeriodMember" xlink:to="forty_EventsAfterReportingPeriodMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="forty_EventsAfterReportingPeriodMember_2_lbl" xml:lang="en-US"> Events After Reporting [Member] </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SubsequentEventsTexrualAbstract" xlink:label="forty_SubsequentEventsTexrualAbstract"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SubsequentEventsTexrualAbstract" xlink:to="forty_SubsequentEventsTexrualAbstract_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_SubsequentEventsTexrualAbstract_lbl" xml:lang="en-US"> Subsequent Events (Textual) </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:to="ifrs-full_PercentageOfVotingEquityInterestsAcquired_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired_2_lbl" xml:lang="en-US"> Percentage of share capital </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_6_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/zeroTerseLabel" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_6_lbl" xml:lang="en-US"> Total share capital </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AdditionalShareCapital" xlink:label="forty_AdditionalShareCapital"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdditionalShareCapital" xlink:to="forty_AdditionalShareCapital_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AdditionalShareCapital_lbl" xml:lang="en-US"> Additional share capital </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GrossProceedsOfPrivatePlacement" xlink:label="forty_GrossProceedsOfPrivatePlacement"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GrossProceedsOfPrivatePlacement" xlink:to="forty_GrossProceedsOfPrivatePlacement_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_GrossProceedsOfPrivatePlacement_lbl" xml:lang="en-US"> Gross proceeds of private placement </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures" xlink:to="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures_3_lbl" xml:lang="en-US"> Series A Secured Debentures increased </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfPublicOffering" xlink:label="forty_DescriptionOfPublicOffering"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfPublicOffering" xlink:to="forty_DescriptionOfPublicOffering_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfPublicOffering_lbl" xml:lang="en-US"> Description of public offering </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfAcquisition" xlink:label="forty_DescriptionOfAcquisition"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAcquisition" xlink:to="forty_DescriptionOfAcquisition_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfAcquisition_lbl" xml:lang="en-US"> Description of acquisition </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfCompensation" xlink:label="forty_DescriptionOfCompensation"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfCompensation" xlink:to="forty_DescriptionOfCompensation_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfCompensation_lbl" xml:lang="en-US"> Description of compensation </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfDebt" xlink:label="forty_DescriptionOfDebt"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfDebt" xlink:to="forty_DescriptionOfDebt_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfDebt_lbl" xml:lang="en-US"> Description of debt </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccruedInterest" xlink:to="forty_AccruedInterest_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AccruedInterest_doc" xml:lang="en-US"> The amount of accrued interest. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccumulatedOperatingIncome" xlink:to="forty_AccumulatedOperatingIncome_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AccumulatedOperatingIncome_doc" xml:lang="en-US"> Accumulated operating income. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccumulatedOtherComprehensivesIncome" xlink:to="forty_AccumulatedOtherComprehensivesIncome_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AccumulatedOtherComprehensivesIncome_doc" xml:lang="en-US"> The amount of accumulated items of income and expense (including reclassification adjustments) that are not recognised in profit or loss as required or permitted by other IFRSs. [Refer: IFRSs [member]; Other comprehensive income]. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AcquisitionOfNoncontrollingInterests" xlink:to="forty_AcquisitionOfNoncontrollingInterests_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AcquisitionOfNoncontrollingInterests_doc" xml:lang="en-US"> The amount of acquisition of non-controlling interests. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AcquisitionOfSharesInJointVenture" xlink:to="forty_AcquisitionOfSharesInJointVenture_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AcquisitionOfSharesInJointVenture_doc" xml:lang="en-US"> It represents acquisition of shares in joint venture. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdditionalShareCapital" xlink:to="forty_AdditionalShareCapital_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AdditionalShareCapital_doc" xml:lang="en-US"> Additional share capital. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AdjustmentToRedeemableNoncontrollingInterests" xlink:label="forty_AdjustmentToRedeemableNoncontrollingInterests"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentToRedeemableNoncontrollingInterests" xlink:to="forty_AdjustmentToRedeemableNoncontrollingInterests_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AdjustmentToRedeemableNoncontrollingInterests_doc" xml:lang="en-US"> The amount of adjustment to redeemable non-controlling interests. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForAmortizationOfPremiumAndAccruedInterestOnMarketableSecurities" xlink:to="forty_AdjustmentsForAmortizationOfPremiumAndAccruedInterestOnMarketableSecurities_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AdjustmentsForAmortizationOfPremiumAndAccruedInterestOnMarketableSecurities_doc" xml:lang="en-US"> Adjustments for amortization of premium and accrued interest on marketable securities to net cash flow from (used in) operating activities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForDecreaseIncreaseInRedeemableNoncontrollingInterestsPutOptions" xlink:to="forty_AdjustmentsForDecreaseIncreaseInRedeemableNoncontrollingInterestsPutOptions_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AdjustmentsForDecreaseIncreaseInRedeemableNoncontrollingInterestsPutOptions_doc" xml:lang="en-US"> Adjustments for decrease (increase) in redeemable non-controlling interests' put options to reconcile profit (loss) to net cash flow from (used in) operating activities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForEquityInLossesGainsOfCompaniesAccountedForAtEquity" xlink:to="forty_AdjustmentsForEquityInLossesGainsOfCompaniesAccountedForAtEquity_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AdjustmentsForEquityInLossesGainsOfCompaniesAccountedForAtEquity_doc" xml:lang="en-US"> Adjustments for equity in losses (gains) of companies accounted for at equity to reconcile profit (loss) to net cash flow from (used in) operating activities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForGainLossFromSaleAndIncreaseInValueOfMarketableSecuritiesClassifiedAsTrading" xlink:to="forty_AdjustmentsForGainLossFromSaleAndIncreaseInValueOfMarketableSecuritiesClassifiedAsTrading_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AdjustmentsForGainLossFromSaleAndIncreaseInValueOfMarketableSecuritiesClassifiedAsTrading_doc" xml:lang="en-US"> Adjustments for gain from sale and increase in value of marketable securities classified as trading to reconcile profit (loss) to net cash flow from (used in) operating activities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForIncreaseDecreaseInLiabilityInRespectOfBusinessCombinations" xlink:to="forty_AdjustmentsForIncreaseDecreaseInLiabilityInRespectOfBusinessCombinations_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AdjustmentsForIncreaseDecreaseInLiabilityInRespectOfBusinessCombinations_doc" xml:lang="en-US"> Adjustments for increase (decrease) in liability in respect of business combinations to reconcile profit (loss) to net cash flow from (used in) operating activities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForIncreaseDecreaseInValueOfDebentures" xlink:to="forty_AdjustmentsForIncreaseDecreaseInValueOfDebentures_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AdjustmentsForIncreaseDecreaseInValueOfDebentures_doc" xml:lang="en-US"> Adjustments for increase (decrease) in value of debentures to reconcile profit (loss) to net cash flow from (used in) operating activities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForIncreaseDecreaseInValueOfShorttermAndLongTermLoansFromBanksAndOthersAndDepositsNet" xlink:to="forty_AdjustmentsForIncreaseDecreaseInValueOfShorttermAndLongTermLoansFromBanksAndOthersAndDepositsNet_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AdjustmentsForIncreaseDecreaseInValueOfShorttermAndLongTermLoansFromBanksAndOthersAndDepositsNet_doc" xml:lang="en-US"> Adjustments for increase (decrease) in value of short-term and long term loans from banks and others and deposits, net to reconcile profit (loss) to net cash flow from (used in) operating activities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForRealizedGainLossFromSaleOfAvailableForSaleSecurities" xlink:to="forty_AdjustmentsForRealizedGainLossFromSaleOfAvailableForSaleSecurities_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AdjustmentsForRealizedGainLossFromSaleOfAvailableForSaleSecurities_doc" xml:lang="en-US"> Adjustments for realized gain from sale of available for sale securities to net cash flow from (used in) operating activities. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AdjustmentsOnForeignCurrencyTranslation" xlink:label="forty_AdjustmentsOnForeignCurrencyTranslation"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsOnForeignCurrencyTranslation" xlink:to="forty_AdjustmentsOnForeignCurrencyTranslation_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AdjustmentsOnForeignCurrencyTranslation_doc" xml:lang="en-US"> The amount of adjustments on Foreign currency translation. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AfterAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax" xlink:to="forty_AfterAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AfterAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax_doc" xml:lang="en-US"> After amortization of excess cost of intangible assets net of deferred tax. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AggregateIntrinsicValueOfExercisableShareOptions" xlink:to="forty_AggregateIntrinsicValueOfExercisableShareOptions_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AggregateIntrinsicValueOfExercisableShareOptions_doc" xml:lang="en-US"> Aggregate intrinsic value of exercisable share options in a share-based payment arrangement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AggregateIntrinsicValueOfExercisedShareOptions" xlink:to="forty_AggregateIntrinsicValueOfExercisedShareOptions_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AggregateIntrinsicValueOfExercisedShareOptions_doc" xml:lang="en-US"> Aggregate intrinsic value of exercised share options in a share-based payment arrangement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AggregateIntrinsicValueOfOutstandingShareOptions" xlink:to="forty_AggregateIntrinsicValueOfOutstandingShareOptions_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AggregateIntrinsicValueOfOutstandingShareOptions_doc" xml:lang="en-US"> Aggregate intrinsic value of outstanding share options in a share-based payment arrangement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AggregatePrincipalAnnualPaymentsOfDebentures" xlink:to="forty_AggregatePrincipalAnnualPaymentsOfDebentures_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AggregatePrincipalAnnualPaymentsOfDebentures_doc" xml:lang="en-US"> Aggregate principal annual payments of debentures. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax" xlink:to="forty_AmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax_doc" xml:lang="en-US"> Amortization of excess cost of intangible assets net of deferred tax. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AmountForDilutedEarningsPerShareIncomeAvailableToShareholders" xlink:to="forty_AmountForDilutedEarningsPerShareIncomeAvailableToShareholders_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AmountForDilutedEarningsPerShareIncomeAvailableToShareholders_doc" xml:lang="en-US"> The explanation of the adjustments made to the numerator in the calculation of diluted earnings per share. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AmountsRecognizedForInterestAndPenaltiesExpensesRelatedToUncertainTaxPositions" xlink:to="forty_AmountsRecognizedForInterestAndPenaltiesExpensesRelatedToUncertainTaxPositions_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AmountsRecognizedForInterestAndPenaltiesExpensesRelatedToUncertainTaxPositions_doc" xml:lang="en-US"> Amounts recognized for interest and penalties expenses related to uncertain tax positions. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ArbitrationExpenses" xlink:to="forty_ArbitrationExpenses_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ArbitrationExpenses_doc" xml:lang="en-US"> Arbitration expenses. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AssetsAcquiredRemainingBalance" xlink:to="forty_AssetsAcquiredRemainingBalance_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AssetsAcquiredRemainingBalance_doc" xml:lang="en-US"> Assets acquired remaining balance. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AssetsAndLiabilitiesOfSubsidiariesConsolidatedAsOfAcquisitionDate" xlink:to="forty_AssetsAndLiabilitiesOfSubsidiariesConsolidatedAsOfAcquisitionDate_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AssetsAndLiabilitiesOfSubsidiariesConsolidatedAsOfAcquisitionDate_doc" xml:lang="en-US"> Assets and liabilities of subsidiaries consolidated as of acquisition date. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_Available-For-SaleDebtSecuritiesAmortizedCostForOneToThreeYears" xlink:to="forty_Available-For-SaleDebtSecuritiesAmortizedCostForOneToThreeYears_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_Available-For-SaleDebtSecuritiesAmortizedCostForOneToThreeYears_doc" xml:lang="en-US"> Available-for-sale debt securities amortized costs of one to three years. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_Available-For-SaleDebtSecuritiesAmortizedCostForThreeToFiveYears" xlink:to="forty_Available-For-SaleDebtSecuritiesAmortizedCostForThreeToFiveYears_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_Available-For-SaleDebtSecuritiesAmortizedCostForThreeToFiveYears_doc" xml:lang="en-US"> Available-for-sale debt securities for amortized costs of three to five years. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AvailableForSaleAbstract" xlink:to="forty_AvailableForSaleAbstract_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AvailableForSaleAbstract_doc" xml:lang="en-US"> Available For Sale </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_AvailableForSaleMarketableSecuritiesNetMember" xlink:label="forty_AvailableForSaleMarketableSecuritiesNetMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AvailableForSaleMarketableSecuritiesNetMember" xlink:to="forty_AvailableForSaleMarketableSecuritiesNetMember_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AvailableForSaleMarketableSecuritiesNetMember_doc" xml:lang="en-US"> Available-for-sale marketable securities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BackOfficeAndProfessionalServicesExpense" xlink:to="forty_BackOfficeAndProfessionalServicesExpense_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_BackOfficeAndProfessionalServicesExpense_doc" xml:lang="en-US"> Professional and back office,others service expense includes cost reimbursements for support services related to contracted projects, outsourced management, technical and staff support. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BacklogRecognisedAsOfAcquisitionDate" xlink:to="forty_BacklogRecognisedAsOfAcquisitionDate_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_BacklogRecognisedAsOfAcquisitionDate_doc" xml:lang="en-US"> The amount recognised as of the acquisition date for backlog acquired in a business combination. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BackogIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:to="forty_BackogIntangibleAssetsRecognisedAsOfAcquisitionDate_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_BackogIntangibleAssetsRecognisedAsOfAcquisitionDate_doc" xml:lang="en-US"> The amount recognised as of the acquisition date for backlog based intangible assets acquired in a business combination. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BankChargesInterestAndForeignExchangeDifferences" xlink:to="forty_BankChargesInterestAndForeignExchangeDifferences_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_BankChargesInterestAndForeignExchangeDifferences_doc" xml:lang="en-US"> Bank charges, interest and foreign exchange differences. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BankGuaranteesAmount" xlink:to="forty_BankGuaranteesAmount_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_BankGuaranteesAmount_doc" xml:lang="en-US"> Amount of bank guarantees in an aggregate for the period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BasicAndDilutedNetEarningsPerShareTableTextBlock" xlink:to="forty_BasicAndDilutedNetEarningsPerShareTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_BasicAndDilutedNetEarningsPerShareTableTextBlock_doc" xml:lang="en-US"> Basic and diluted net earnings per share. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BeforeAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax" xlink:to="forty_BeforeAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_BeforeAmortizationOfExcessCostOfIntangibleAssetsNetOfDeferredTax_doc" xml:lang="en-US"> Before amortization of excess cost of intangible assets net of deferred tax. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_BusinessCombinationAndRedeemableNon-ControllingInterests" xlink:label="forty_BusinessCombinationAndRedeemableNon-ControllingInterests"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BusinessCombinationAndRedeemableNon-ControllingInterests" xlink:to="forty_BusinessCombinationAndRedeemableNon-ControllingInterests_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_BusinessCombinationAndRedeemableNon-ControllingInterests_doc" xml:lang="en-US"> The amount of non-controlling interest in the acquiree recognised at the acquisition date for business combinations in which the acquirer holds less than 100 per cent of the equity interests in the acquiree at the acquisition date. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CapitalNotesInvestmentInJointVenture" xlink:to="forty_CapitalNotesInvestmentInJointVenture_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_CapitalNotesInvestmentInJointVenture_doc" xml:lang="en-US"> It represents capital notes. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CashPaidInConjunctionWithAcquisitionsOfActivities" xlink:label="forty_CashPaidInConjunctionWithAcquisitionsOfActivities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CashPaidInConjunctionWithAcquisitionsOfActivities" xlink:to="forty_CashPaidInConjunctionWithAcquisitionsOfActivities_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_CashPaidInConjunctionWithAcquisitionsOfActivities_doc" xml:lang="en-US"> Cash paid in conjunction with acquisitions of activities. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ChangeInRedeemableNoncontrollingInterestToRedemptionValue" xlink:label="forty_ChangeInRedeemableNoncontrollingInterestToRedemptionValue"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ChangeInRedeemableNoncontrollingInterestToRedemptionValue" xlink:to="forty_ChangeInRedeemableNoncontrollingInterestToRedemptionValue_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ChangeInRedeemableNoncontrollingInterestToRedemptionValue_doc" xml:lang="en-US"> Amount of change in redeemable non-controlling interest to redemption value during the period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ChangeInValueOfDividendPreferenceDerivativeInTsg" xlink:to="forty_ChangeInValueOfDividendPreferenceDerivativeInTsg_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ChangeInValueOfDividendPreferenceDerivativeInTsg_doc" xml:lang="en-US"> Amount of change in value of dividend preference derivative in TSG. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ClassificationsAboutGoodwill" xlink:to="forty_ClassificationsAboutGoodwill_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ClassificationsAboutGoodwill_doc" xml:lang="en-US"> Classifications about goodwill </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CommercialBondsMember" xlink:to="forty_CommercialBondsMember_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_CommercialBondsMember_doc" xml:lang="en-US"> Commercial Bonds Member </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CommitmentAndContingencies" xlink:to="forty_CommitmentAndContingencies_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_CommitmentAndContingencies_doc" xml:lang="en-US"> Commitment and Contingencies </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CompanysShareOfEarningsLossesOfJointVenture" xlink:to="forty_CompanysShareOfEarningsLossesOfJointVenture_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_CompanysShareOfEarningsLossesOfJointVenture_doc" xml:lang="en-US"> It represents company's share of earnings (losses) of joint venture. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ComprehensiveIncomeAttributableToRedeemableNoncontrollingInterests" xlink:label="forty_ComprehensiveIncomeAttributableToRedeemableNoncontrollingInterests"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ComprehensiveIncomeAttributableToRedeemableNoncontrollingInterests" xlink:to="forty_ComprehensiveIncomeAttributableToRedeemableNoncontrollingInterests_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ComprehensiveIncomeAttributableToRedeemableNoncontrollingInterests_doc" xml:lang="en-US"> The amount of comprehensive income attributable to redeemable non-controlling interests. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ComprehensiveIncomeIncludingNoncontrollingInterest" xlink:to="forty_ComprehensiveIncomeIncludingNoncontrollingInterest_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ComprehensiveIncomeIncludingNoncontrollingInterest_doc" xml:lang="en-US"> Comprehensive Income Including Noncontrolling Interest. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ConsolidatedLiabilityUnrecognizedTaxBenefits" xlink:to="forty_ConsolidatedLiabilityUnrecognizedTaxBenefits_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ConsolidatedLiabilityUnrecognizedTaxBenefits_doc" xml:lang="en-US"> Consolidated liability unrecognized tax benefits. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ContingencyDamagesSoughtValue" xlink:to="forty_ContingencyDamagesSoughtValue_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ContingencyDamagesSoughtValue_doc" xml:lang="en-US"> The value (monetary amount) of the award the plaintiff seeks in the legal matter. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ContingencyLawsuitSumAmount" xlink:to="forty_ContingencyLawsuitSumAmount_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ContingencyLawsuitSumAmount_doc" xml:lang="en-US"> Amount of software company filed a lawsuit for the period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ContingentConsideration" xlink:to="forty_ContingentConsideration_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ContingentConsideration_doc" xml:lang="en-US"> The amount of contingent consideration. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ContingentLiabilityToPayRoyalties" xlink:to="forty_ContingentLiabilityToPayRoyalties_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ContingentLiabilityToPayRoyalties_doc" xml:lang="en-US"> Contingent liability to pay royalties for the period. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_CostOfSalesOfSoftwareServices" xlink:label="forty_CostOfSalesOfSoftwareServices"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CostOfSalesOfSoftwareServices" xlink:to="forty_CostOfSalesOfSoftwareServices_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_CostOfSalesOfSoftwareServices_doc" xml:lang="en-US"> Cost Of Sales Of Software Services. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CostOfSalesOfTechnology" xlink:to="forty_CostOfSalesOfTechnology_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_CostOfSalesOfTechnology_doc" xml:lang="en-US"> Cost Of Sales Of Technology </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CumulativeLossesForTaxPurposes" xlink:to="forty_CumulativeLossesForTaxPurposes_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_CumulativeLossesForTaxPurposes_doc" xml:lang="en-US"> Cumulative losses for tax purposes. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CurrentEmployees" xlink:to="forty_CurrentEmployees_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_CurrentEmployees_doc" xml:lang="en-US"> The amount of employes. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CurrentGovernmentDepartments" xlink:to="forty_CurrentGovernmentDepartments_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_CurrentGovernmentDepartments_doc" xml:lang="en-US"> The amount of current government departments. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CurrentPrepaidExpensesAndAdvancesToSuppliers" xlink:to="forty_CurrentPrepaidExpensesAndAdvancesToSuppliers_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_CurrentPrepaidExpensesAndAdvancesToSuppliers_doc" xml:lang="en-US"> The amount recognised as a current asset for expenditures made prior to the period when the economic benefit will be realised. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CurrentRelatedParies" xlink:to="forty_CurrentRelatedParies_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_CurrentRelatedParies_doc" xml:lang="en-US"> The amount related parties. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CurrentRestrictedDeposits" xlink:to="forty_CurrentRestrictedDeposits_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_CurrentRestrictedDeposits_doc" xml:lang="en-US"> The entire amount of restricted deposits. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DebenturesDescription" xlink:to="forty_DebenturesDescription_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DebenturesDescription_doc" xml:lang="en-US"> Description of debentures. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DebenturesTradingTerms" xlink:to="forty_DebenturesTradingTerms_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DebenturesTradingTerms_doc" xml:lang="en-US"> Period of time between issuance suspension of trading of the debentures on the TASE over a period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DecreaseRelatedToPriorYearsTaxPositions" xlink:to="forty_DecreaseRelatedToPriorYearsTaxPositions_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DecreaseRelatedToPriorYearsTaxPositions_doc" xml:lang="en-US"> Decrease related to prior years' tax positions. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DeferredPaymentToFormerShareholdersOfConsolidatedCompanies" xlink:label="forty_DeferredPaymentToFormerShareholdersOfConsolidatedCompanies"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredPaymentToFormerShareholdersOfConsolidatedCompanies" xlink:to="forty_DeferredPaymentToFormerShareholdersOfConsolidatedCompanies_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DeferredPaymentToFormerShareholdersOfConsolidatedCompanies_doc" xml:lang="en-US"> Deferred payment to former shareholders of consolidated companies. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxAssetNetOperatingLossesCarriedForward" xlink:to="forty_DeferredTaxAssetNetOperatingLossesCarriedForward_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DeferredTaxAssetNetOperatingLossesCarriedForward_doc" xml:lang="en-US"> The amount of deferred tax asset net operating losses carried forward. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxAssetsAllowancesReservesAndIntangibleAssets" xlink:to="forty_DeferredTaxAssetsAllowancesReservesAndIntangibleAssets_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DeferredTaxAssetsAllowancesReservesAndIntangibleAssets_doc" xml:lang="en-US"> The amount of deferred tax assets allowances, reserves and intangible assets. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DeferredTaxAssetsCapitalizedSoftwareCosts" xlink:label="forty_DeferredTaxAssetsCapitalizedSoftwareCosts"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxAssetsCapitalizedSoftwareCosts" xlink:to="forty_DeferredTaxAssetsCapitalizedSoftwareCosts_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DeferredTaxAssetsCapitalizedSoftwareCosts_doc" xml:lang="en-US"> The amount of deferred tax assets, capitalized software costs. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxAssetsCashForTax" xlink:to="forty_DeferredTaxAssetsCashForTax_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DeferredTaxAssetsCashForTax_doc" xml:lang="en-US"> The amount of deferred tax assets cash for tax. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxLiability" xlink:to="forty_DeferredTaxLiability_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DeferredTaxLiability_doc" xml:lang="en-US"> The total amount of deferred tax liability, net. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxesOnCurrentLosses" xlink:to="forty_DeferredTaxesOnCurrentLosses_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DeferredTaxesOnCurrentLosses_doc" xml:lang="en-US"> Deferred taxes on current losses. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DenominatorForBasicNetEarningsPerShare" xlink:to="forty_DenominatorForBasicNetEarningsPerShare_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DenominatorForBasicNetEarningsPerShare_doc" xml:lang="en-US"> Denominator for basic net earnings per share. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DenominatorForDilutedNetEarningsPerShare" xlink:to="forty_DenominatorForDilutedNetEarningsPerShare_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DenominatorForDilutedNetEarningsPerShare_doc" xml:lang="en-US"> Denominator for diluted net earnings per share. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyConcentrationOfCreditRiskPolicyTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyConcentrationOfCreditRiskPolicyTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionOfAccountingPolicyConcentrationOfCreditRiskPolicyTextBlock_doc" xml:lang="en-US"> The description of the entity's accounting policy for concentration of credit risk. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfAccountingPolicyDerecognitionOfFinancialInstrumentsPolicyTextBlock" xlink:label="forty_DescriptionOfAccountingPolicyDerecognitionOfFinancialInstrumentsPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyDerecognitionOfFinancialInstrumentsPolicyTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyDerecognitionOfFinancialInstrumentsPolicyTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionOfAccountingPolicyDerecognitionOfFinancialInstrumentsPolicyTextBlock_doc" xml:lang="en-US"> The description of derecognition of financial instruments. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfAccountingPolicyExtinguishingFinancialLiabilitiesWithEquityInstrumentsPolicyTextBlock" xlink:label="forty_DescriptionOfAccountingPolicyExtinguishingFinancialLiabilitiesWithEquityInstrumentsPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyExtinguishingFinancialLiabilitiesWithEquityInstrumentsPolicyTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyExtinguishingFinancialLiabilitiesWithEquityInstrumentsPolicyTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionOfAccountingPolicyExtinguishingFinancialLiabilitiesWithEquityInstrumentsPolicyTextBlock_doc" xml:lang="en-US"> The description of extinguishing financial liabilities with equity instruments. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyForAllowanceForDoubtfulAccountsPolicyTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyForAllowanceForDoubtfulAccountsPolicyTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionOfAccountingPolicyForAllowanceForDoubtfulAccountsPolicyTextBlock_doc" xml:lang="en-US"> The description of the entity's accounting policy for allowance for doubtful accounts. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyForBasisOfPresentationOfFinancialStatementsTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyForBasisOfPresentationOfFinancialStatementsTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionOfAccountingPolicyForBasisOfPresentationOfFinancialStatementsTextBlock_doc" xml:lang="en-US"> The description of the entity's accounting policy basis of presentation of the financial statements. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionOfAccountingPolicyForCombinationOfBusinessesUnderCommonControlPolicyTextBlock" xlink:label="forty_DescriptionOfAccountingPolicyForCombinationOfBusinessesUnderCommonControlPolicyTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyForCombinationOfBusinessesUnderCommonControlPolicyTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyForCombinationOfBusinessesUnderCommonControlPolicyTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionOfAccountingPolicyForCombinationOfBusinessesUnderCommonControlPolicyTextBlock_doc" xml:lang="en-US"> The description of combination of businesses under common control. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyForConsolidatedFinancialStatementsPolicyTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyForConsolidatedFinancialStatementsPolicyTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionOfAccountingPolicyForConsolidatedFinancialStatementsPolicyTextBlock_doc" xml:lang="en-US"> The description of the entity's accounting policy for consolidated financial statements. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyForDebenturesPolicyTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyForDebenturesPolicyTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionOfAccountingPolicyForDebenturesPolicyTextBlock_doc" xml:lang="en-US"> The description of the entity's accounting policy for debentures policy. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyForShortTermAndRestrictedDepositsPolicyTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyForShortTermAndRestrictedDepositsPolicyTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionOfAccountingPolicyForShortTermAndRestrictedDepositsPolicyTextBlock_doc" xml:lang="en-US"> The description of the entity's accounting policy for short-term and restricted deposits. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfExerciseShareOptionsGranted" xlink:to="forty_DescriptionOfExerciseShareOptionsGranted_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionOfExerciseShareOptionsGranted_doc" xml:lang="en-US"> The expected excercise of the share price used to calculate the fair value of the share options granted. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfForeignExchangeRate" xlink:to="forty_DescriptionOfForeignExchangeRate_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionOfForeignExchangeRate_doc" xml:lang="en-US"> The description of foreign exchange rate. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfGoverningBodies" xlink:to="forty_DescriptionOfGoverningBodies_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionOfGoverningBodies_doc" xml:lang="en-US"> Description of governing bodies of board of directors and members. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfInvestmentsAccountedForUsingEquityMethodPolicyTextBlock" xlink:to="forty_DescriptionOfInvestmentsAccountedForUsingEquityMethodPolicyTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionOfInvestmentsAccountedForUsingEquityMethodPolicyTextBlock_doc" xml:lang="en-US"> The description of the entity's accounting policy for investments accounted for the using method. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfNewAmendmentTaxRate" xlink:to="forty_DescriptionOfNewAmendmentTaxRate_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionOfNewAmendmentTaxRate_doc" xml:lang="en-US"> Description of new amendment tax rate. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DescriptionsOnRevenueFromContracts" xlink:label="forty_DescriptionsOnRevenueFromContracts"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionsOnRevenueFromContracts" xlink:to="forty_DescriptionsOnRevenueFromContracts_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionsOnRevenueFromContracts_doc" xml:lang="en-US"> Descriptions on revenue from contracts. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfAnalysisOfDebenturesByItemLineItems" xlink:to="forty_DisclosureOfAnalysisOfDebenturesByItemLineItems_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfAnalysisOfDebenturesByItemLineItems_doc" xml:lang="en-US"> Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfCarryingAmountAndFairValueOfGroupsOfFinancialInstrumentsTableTextBlock" xlink:to="forty_DisclosureOfCarryingAmountAndFairValueOfGroupsOfFinancialInstrumentsTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfCarryingAmountAndFairValueOfGroupsOfFinancialInstrumentsTableTextBlock_doc" xml:lang="en-US"> The disclosure of carrying amount and fair value of groups of financial instruments. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfCompositionOtherAccountsReceivableAndPrepaidExpensesTableTextBlock" xlink:to="forty_DisclosureOfCompositionOtherAccountsReceivableAndPrepaidExpensesTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfCompositionOtherAccountsReceivableAndPrepaidExpensesTableTextBlock_doc" xml:lang="en-US"> The disclosure of other accounts receivable and prepaid expense. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDebenturesTextBlock" xlink:to="forty_DisclosureOfDebenturesTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfDebenturesTextBlock_doc" xml:lang="en-US"> The entire disclosure for all or part of the information related to debentures. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutAnnualAmortizationRateTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutAnnualAmortizationRateTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfDetailedInformationAboutAnnualAmortizationRateTableTextBlock_doc" xml:lang="en-US"> Components of intangible assets associated with the acquisition and their annual amortization rates </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutAnnualPaymentsOfDebenturesExplanatoryTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutAnnualPaymentsOfDebenturesExplanatoryTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfDetailedInformationAboutAnnualPaymentsOfDebenturesExplanatoryTableTextBlock_doc" xml:lang="en-US"> The disclosure of detailed information about annual payments of debentures. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutCompositionOfPledgedSharesTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutCompositionOfPledgedSharesTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfDetailedInformationAboutCompositionOfPledgedSharesTableTextBlock_doc" xml:lang="en-US"> The disclosure of detailed information about composition of pledged shares. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutConsolidatedStatementsOfFinancialPositionTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutConsolidatedStatementsOfFinancialPositionTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfDetailedInformationAboutConsolidatedStatementsOfFinancialPositionTableTextBlock_doc" xml:lang="en-US"> Disclosure of consolidated statements of financial position </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutDebenturesExplanatoryTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutDebenturesExplanatoryTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfDetailedInformationAboutDebenturesExplanatoryTableTextBlock_doc" xml:lang="en-US"> The disclosure of detailed information about debentures. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutDebenturesTable" xlink:to="forty_DisclosureOfDetailedInformationAboutDebenturesTable_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfDetailedInformationAboutDebenturesTable_doc" xml:lang="en-US"> Schedule disclosing information related to details of debentures. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutDeferredTaxAssetsLiabilitiesNetExplanatoryTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutDeferredTaxAssetsLiabilitiesNetExplanatoryTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfDetailedInformationAboutDeferredTaxAssetsLiabilitiesNetExplanatoryTableTextBlock_doc" xml:lang="en-US"> The disclosure of detailed information about deferred tax assets (liabilities), net. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutInvesteesTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutInvesteesTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfDetailedInformationAboutInvesteesTableTextBlock_doc" xml:lang="en-US"> The disclosure of detailed information about name of investee. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DisclosureOfDetailedInformationAboutLongTermDebenturesNetOfCurrentMaturitiesExplanatoryTableTextBlock" xlink:label="forty_DisclosureOfDetailedInformationAboutLongTermDebenturesNetOfCurrentMaturitiesExplanatoryTableTextBlock"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutLongTermDebenturesNetOfCurrentMaturitiesExplanatoryTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutLongTermDebenturesNetOfCurrentMaturitiesExplanatoryTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfDetailedInformationAboutLongTermDebenturesNetOfCurrentMaturitiesExplanatoryTableTextBlock_doc" xml:lang="en-US"> The disclosure of detailed information about long-term debentures, net of current maturities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutMarketableSecuritiesExplanatoryTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutMarketableSecuritiesExplanatoryTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfDetailedInformationAboutMarketableSecuritiesExplanatoryTextBlock_doc" xml:lang="en-US"> The disclosure of detailed information about marketable securities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutOperatingLeaseCommitmentsAndContingenciesTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutOperatingLeaseCommitmentsAndContingenciesTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfDetailedInformationAboutOperatingLeaseCommitmentsAndContingenciesTableTextBlock_doc" xml:lang="en-US"> Tabular disclosure of future minimum operating lease lease commitments and contingencies. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfDetailedInformationAboutUsingDepreciationStraightLineBasisOverUsefulLifeOfAssetsTableTextBlock" xlink:to="forty_DisclosureOfDetailedInformationAboutUsingDepreciationStraightLineBasisOverUsefulLifeOfAssetsTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfDetailedInformationAboutUsingDepreciationStraightLineBasisOverUsefulLifeOfAssetsTableTextBlock_doc" xml:lang="en-US"> Disclosure of using depreciation straight line basis over useful life of assets. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfEmployeeOptionPlansExplanatoryTextBlock" xlink:to="forty_DisclosureOfEmployeeOptionPlansExplanatoryTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfEmployeeOptionPlansExplanatoryTextBlock_doc" xml:lang="en-US"> The disclosure of employee option plans. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfMarketableSecuritiesTable" xlink:to="forty_DisclosureOfMarketableSecuritiesTable_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfMarketableSecuritiesTable_doc" xml:lang="en-US"> Schedule disclosure of marketable securities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock" xlink:to="forty_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DisclosureOfOtherAccountsReceivableAndPrepaidExpensesTextBlock_doc" xml:lang="en-US"> The entire disclosure for other accounts receivable and prepaid expenses. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DiscountAndIssuanceCostsAmortization" xlink:to="forty_DiscountAndIssuanceCostsAmortization_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DiscountAndIssuanceCostsAmortization_doc" xml:lang="en-US"> The amount of discount and issuance costs amortization. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DistributionToParentForBusinessAcquisitionUnderCommonControl" xlink:label="forty_DistributionToParentForBusinessAcquisitionUnderCommonControl"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DistributionToParentForBusinessAcquisitionUnderCommonControl" xlink:to="forty_DistributionToParentForBusinessAcquisitionUnderCommonControl_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DistributionToParentForBusinessAcquisitionUnderCommonControl_doc" xml:lang="en-US"> The amount of distribution to parent for a business acquisition under common control. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DistributionToUltimateParentForABusinessAcquisitionUnderCommonControl" xlink:to="forty_DistributionToUltimateParentForABusinessAcquisitionUnderCommonControl_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DistributionToUltimateParentForABusinessAcquisitionUnderCommonControl_doc" xml:lang="en-US"> Distribution to ultimate parent for a business acquisition under common control. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_DividendInRedeemableNoncontrollingInterest" xlink:label="forty_DividendInRedeemableNoncontrollingInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendInRedeemableNoncontrollingInterest" xlink:to="forty_DividendInRedeemableNoncontrollingInterest_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DividendInRedeemableNoncontrollingInterest_doc" xml:lang="en-US"> Amount of dividend in redeemable non-controlling interest. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPayable" xlink:to="forty_DividendPayable_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DividendPayable_doc" xml:lang="en-US"> Carrying amount of dividends payable. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPayableAmountPerShare" xlink:to="forty_DividendPayableAmountPerShare_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DividendPayableAmountPerShare_doc" xml:lang="en-US"> Dividends payable, amount per share. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPayableDateOfRecordDayMonthAndYear" xlink:to="forty_DividendPayableDateOfRecordDayMonthAndYear_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DividendPayableDateOfRecordDayMonthAndYear_doc" xml:lang="en-US"> Date the holder must own the stock to be entitled to the dividend, in CCYY-MM-DD format. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPayableToRedeemableNoncontrollingInterests" xlink:to="forty_DividendPayableToRedeemableNoncontrollingInterests_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DividendPayableToRedeemableNoncontrollingInterests_doc" xml:lang="en-US"> Dividend payable to redeemable non-controlling interests. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPayableToShareholders" xlink:to="forty_DividendPayableToShareholders_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DividendPayableToShareholders_doc" xml:lang="en-US"> Dividend payable to Formula's shareholders. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPreferenceDerivative" xlink:to="forty_DividendPreferenceDerivative_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DividendPreferenceDerivative_doc" xml:lang="en-US"> Dividend preference derivative in TSG. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPreferenceDerivativeInTsg" xlink:to="forty_DividendPreferenceDerivativeInTsg_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DividendPreferenceDerivativeInTsg_doc" xml:lang="en-US"> It represents dividend preference derivative in TSG. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPreferenceDerivativeRecognisedAsOfAcquisitionDate" xlink:to="forty_DividendPreferenceDerivativeRecognisedAsOfAcquisitionDate_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DividendPreferenceDerivativeRecognisedAsOfAcquisitionDate_doc" xml:lang="en-US"> The amount recognised as of the acquisition date for dividend preference derivative acquired in a business combination. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendToFormulasShareholders" xlink:to="forty_DividendToFormulasShareholders_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DividendToFormulasShareholders_doc" xml:lang="en-US"> The amount of dividend to formula's shareholders. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendsPayableDateToBePaidDayMonthAndYear" xlink:to="forty_DividendsPayableDateToBePaidDayMonthAndYear_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DividendsPayableDateToBePaidDayMonthAndYear_doc" xml:lang="en-US"> Date the declared dividend will be paid, in CCYY-MM-DD format. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EffectOfApprovedBeneficiaryOrPreferredEnterpriseStatus" xlink:to="forty_EffectOfApprovedBeneficiaryOrPreferredEnterpriseStatus_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_EffectOfApprovedBeneficiaryOrPreferredEnterpriseStatus_doc" xml:lang="en-US"> Effect of "Approved, Beneficiary or Preferred Enterprise" status. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EffectOfDilutiveSecurities" xlink:to="forty_EffectOfDilutiveSecurities_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_EffectOfDilutiveSecurities_doc" xml:lang="en-US"> Effect of dilutive securities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EligibleForFutureConsideration" xlink:to="forty_EligibleForFutureConsideration_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_EligibleForFutureConsideration_doc" xml:lang="en-US"> Eligible for future consideration. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_EquitySecurities" xlink:label="forty_EquitySecurities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EquitySecurities" xlink:to="forty_EquitySecurities_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_EquitySecurities_doc" xml:lang="en-US"> The total amount of equity securities. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_EquitySecuritiesOneMember" xlink:label="forty_EquitySecuritiesOneMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EquitySecuritiesOneMember" xlink:to="forty_EquitySecuritiesOneMember_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_EquitySecuritiesOneMember_doc" xml:lang="en-US"> Equity Securities Member </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EuropeanMember" xlink:to="forty_EuropeanMember_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_EuropeanMember_doc" xml:lang="en-US"> Europe member. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExcessCostOfIntangibleAssetsNetOfDeferredTaxLiabilities" xlink:to="forty_ExcessCostOfIntangibleAssetsNetOfDeferredTaxLiabilities_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ExcessCostOfIntangibleAssetsNetOfDeferredTaxLiabilities_doc" xml:lang="en-US"> It represents Excess cost of intangible assets net of deferred tax liabilities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ExercisePriceOfOptionsPerShare" xlink:to="forty_ExercisePriceOfOptionsPerShare_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ExercisePriceOfOptionsPerShare_doc" xml:lang="en-US"> Exercise price of options per share. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FairValueMarketableSecuritiesThroughProfitOrLoss" xlink:to="forty_FairValueMarketableSecuritiesThroughProfitOrLoss_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_FairValueMarketableSecuritiesThroughProfitOrLoss_doc" xml:lang="en-US"> The amount of fair value through profit or loss marketable securities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FairValueOfGrantSharePricePerShare" xlink:to="forty_FairValueOfGrantSharePricePerShare_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_FairValueOfGrantSharePricePerShare_doc" xml:lang="en-US"> Fair value of grant share price per share. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FederalCorporateIncomeTaxRateDescription" xlink:to="forty_FederalCorporateIncomeTaxRateDescription_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_FederalCorporateIncomeTaxRateDescription_doc" xml:lang="en-US"> Federal corporate income tax rate description. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FinancialAssetsAtFairvalueThroughProfitOrLossPercentage" xlink:to="forty_FinancialAssetsAtFairvalueThroughProfitOrLossPercentage_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_FinancialAssetsAtFairvalueThroughProfitOrLossPercentage_doc" xml:lang="en-US"> Percentage of financial assets that are measured at fair value and for which gains (losses) are recognised in profit or loss. A financial asset shall be measured at fair value through profit or loss unless it is measured at amortised cost or at fair value through other comprehensive income. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FinancialCostsRelatedToDebentures" xlink:to="forty_FinancialCostsRelatedToDebentures_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_FinancialCostsRelatedToDebentures_doc" xml:lang="en-US"> Financial costs related to debentures. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FinancialIncomeAndExpensesTableTextBlock" xlink:to="forty_FinancialIncomeAndExpensesTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_FinancialIncomeAndExpensesTableTextBlock_doc" xml:lang="en-US"> Financial income and expenses. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FinancialInstitutionCreditAgreement" xlink:to="forty_FinancialInstitutionCreditAgreement_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_FinancialInstitutionCreditAgreement_doc" xml:lang="en-US"> Share of financial institution credit agreement for the reporting period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ForeignCurrencyDerivativeContracts" xlink:to="forty_ForeignCurrencyDerivativeContracts_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ForeignCurrencyDerivativeContracts_doc" xml:lang="en-US"> The amount of foreign currency derivative contracts. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ForeignCurrencyTranslationAdjustments" xlink:label="forty_ForeignCurrencyTranslationAdjustments"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ForeignCurrencyTranslationAdjustments" xlink:to="forty_ForeignCurrencyTranslationAdjustments_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ForeignCurrencyTranslationAdjustments_doc" xml:lang="en-US"> Amount of foreign currency translation adjustments for the period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ForeignCurrencyTranslationAdjustmentsForGoodwill" xlink:to="forty_ForeignCurrencyTranslationAdjustmentsForGoodwill_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ForeignCurrencyTranslationAdjustmentsForGoodwill_doc" xml:lang="en-US"> Foreign currency translation adjustments for good will </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FutureTaxableIncome" xlink:to="forty_FutureTaxableIncome_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_FutureTaxableIncome_doc" xml:lang="en-US"> Future taxable income. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FutureTaxableIncomeForForeign" xlink:to="forty_FutureTaxableIncomeForForeign_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_FutureTaxableIncomeForForeign_doc" xml:lang="en-US"> Future taxable income for foreign companies. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GainsLossesOnExchangeDifferenceOnTranslationNetOfTax" xlink:to="forty_GainsLossesOnExchangeDifferenceOnTranslationNetOfTax_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_GainsLossesOnExchangeDifferenceOnTranslationNetOfTax_doc" xml:lang="en-US"> The gains (losses) recognised in other comprehensive income on exchange differences on the translation of financial statements of foreign operations, net of tax. [Refer: Other comprehensive income]. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GoodwillAndIntangibleAssets" xlink:to="forty_GoodwillAndIntangibleAssets_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_GoodwillAndIntangibleAssets_doc" xml:lang="en-US"> Carrying amount of finite-lived intangible assets, indefinite-lived intangible assets and goodwill. Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GoodwillEquityAtReportingDate" xlink:to="forty_GoodwillEquityAtReportingDate_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_GoodwillEquityAtReportingDate_doc" xml:lang="en-US"> It represents goodwill. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GoodwillIncludedInInvestmentInJointVenture" xlink:to="forty_GoodwillIncludedInInvestmentInJointVenture_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_GoodwillIncludedInInvestmentInJointVenture_doc" xml:lang="en-US"> It represents goodwill included in investment In joint venture. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GovernmentAndCorporateDebentures" xlink:label="forty_GovernmentAndCorporateDebentures"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GovernmentAndCorporateDebentures" xlink:to="forty_GovernmentAndCorporateDebentures_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_GovernmentAndCorporateDebentures_doc" xml:lang="en-US"> The entire amount of government and corporate debentures. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_GovernmentBondsMember" xlink:label="forty_GovernmentBondsMember"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GovernmentBondsMember" xlink:to="forty_GovernmentBondsMember_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_GovernmentBondsMember_doc" xml:lang="en-US"> Government Bonds Member </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_GrossProceedsOfPrivatePlacement" xlink:to="forty_GrossProceedsOfPrivatePlacement_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_GrossProceedsOfPrivatePlacement_doc" xml:lang="en-US"> Gross proceeds of private placement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncomeFromMarketableSecurities" xlink:to="forty_IncomeFromMarketableSecurities_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IncomeFromMarketableSecurities_doc" xml:lang="en-US"> Income from marketable securities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncomeTaxesDescription" xlink:to="forty_IncomeTaxesDescription_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IncomeTaxesDescription_doc" xml:lang="en-US"> Description of income taxes. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncomeTaxesDistributedAsDividend" xlink:to="forty_IncomeTaxesDistributedAsDividend_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IncomeTaxesDistributedAsDividend_doc" xml:lang="en-US"> Income taxes distributed as dividend. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IncreaseInRedeemableNon-ControllingInterestAsPartOfAcquisitions" xlink:label="forty_IncreaseInRedeemableNon-ControllingInterestAsPartOfAcquisitions"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncreaseInRedeemableNon-ControllingInterestAsPartOfAcquisitions" xlink:to="forty_IncreaseInRedeemableNon-ControllingInterestAsPartOfAcquisitions_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IncreaseInRedeemableNon-ControllingInterestAsPartOfAcquisitions_doc" xml:lang="en-US"> Increase in redeemable non-controlling interest as part of acquisitions. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IncreaseInRedeemableNon-ControllingInterestDueToChangeInOwnershipInSubsidiaries" xlink:label="forty_IncreaseInRedeemableNon-ControllingInterestDueToChangeInOwnershipInSubsidiaries"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncreaseInRedeemableNon-ControllingInterestDueToChangeInOwnershipInSubsidiaries" xlink:to="forty_IncreaseInRedeemableNon-ControllingInterestDueToChangeInOwnershipInSubsidiaries_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IncreaseInRedeemableNon-ControllingInterestDueToChangeInOwnershipInSubsidiaries_doc" xml:lang="en-US"> Increase in redeemable non-controlling interest due to change in ownership in subsidiaries. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IncreaseInRedeemableNoncontrollingInterestDueToChangeInOwnershipInSubsidiaries" xlink:label="forty_IncreaseInRedeemableNoncontrollingInterestDueToChangeInOwnershipInSubsidiaries"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncreaseInRedeemableNoncontrollingInterestDueToChangeInOwnershipInSubsidiaries" xlink:to="forty_IncreaseInRedeemableNoncontrollingInterestDueToChangeInOwnershipInSubsidiaries_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IncreaseInRedeemableNoncontrollingInterestDueToChangeInOwnershipInSubsidiaries_doc" xml:lang="en-US"> Amount of Increase or decrease in redeemable non-controlling interest due to change in ownership in subsidiaries. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncreaseRelatedToCurrentYearTaxPositions" xlink:to="forty_IncreaseRelatedToCurrentYearTaxPositions_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IncreaseRelatedToCurrentYearTaxPositions_doc" xml:lang="en-US"> Increase related to current year tax positions. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IndustrialEncouragementLawDescription" xlink:to="forty_IndustrialEncouragementLawDescription_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IndustrialEncouragementLawDescription_doc" xml:lang="en-US"> Industrial encouragement law description. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_IntangibleAssetsOtherThanGoodwillGross" xlink:label="forty_IntangibleAssetsOtherThanGoodwillGross"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IntangibleAssetsOtherThanGoodwillGross" xlink:to="forty_IntangibleAssetsOtherThanGoodwillGross_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IntangibleAssetsOtherThanGoodwillGross_doc" xml:lang="en-US"> Intangible assets other than goodwill gross. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InterSegmentRevenues" xlink:to="forty_InterSegmentRevenues_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_InterSegmentRevenues_doc" xml:lang="en-US"> Inter-segment revenues. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InterestAndPenaltiesExpenses" xlink:to="forty_InterestAndPenaltiesExpenses_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_InterestAndPenaltiesExpenses_doc" xml:lang="en-US"> Interest and penalties expenses. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InterestExpensesOnShortTermAndLongTermLoans" xlink:to="forty_InterestExpensesOnShortTermAndLongTermLoans_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_InterestExpensesOnShortTermAndLongTermLoans_doc" xml:lang="en-US"> Interest expenses on short-term and long-term loans. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InterestIncomeFromDepositsAndForeignExchangeDifferences" xlink:to="forty_InterestIncomeFromDepositsAndForeignExchangeDifferences_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_InterestIncomeFromDepositsAndForeignExchangeDifferences_doc" xml:lang="en-US"> Interest income from deposits and foreign exchange differences. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InterestRatePercentage" xlink:to="forty_InterestRatePercentage_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_InterestRatePercentage_doc" xml:lang="en-US"> Interest rate percentage. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_InterestReceivableOfAvailable-For-SaleMarketableSecurities" xlink:label="forty_InterestReceivableOfAvailable-For-SaleMarketableSecurities"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InterestReceivableOfAvailable-For-SaleMarketableSecurities" xlink:to="forty_InterestReceivableOfAvailable-For-SaleMarketableSecurities_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_InterestReceivableOfAvailable-For-SaleMarketableSecurities_doc" xml:lang="en-US"> Interest receivable of available-for-sale marketable securities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InterestReceived" xlink:to="forty_InterestReceived_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_InterestReceived_doc" xml:lang="en-US"> Interest received on loans and other debt instruments during the current period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InterestsPaid" xlink:to="forty_InterestsPaid_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_InterestsPaid_doc" xml:lang="en-US"> Amount of cash paid for interest. Includes, but is not limited to, payment to settle zero-coupon bond attributable to accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IntrinsicValueOfOptionsExercised" xlink:to="forty_IntrinsicValueOfOptionsExercised_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IntrinsicValueOfOptionsExercised_doc" xml:lang="en-US"> Intrinsic value of options exercised. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_InvestmentInCapitalNotesOfJointVenture" xlink:to="forty_InvestmentInCapitalNotesOfJointVenture_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_InvestmentInCapitalNotesOfJointVenture_doc" xml:lang="en-US"> It represents investment in Capital notes of joint venture. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IsraelMember" xlink:to="forty_IsraelMember_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IsraelMember_doc" xml:lang="en-US"> Israel member. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuanceOfRestrictedSharesToEmployees" xlink:to="forty_IssuanceOfRestrictedSharesToEmployees_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IssuanceOfRestrictedSharesToEmployees_doc" xml:lang="en-US"> Issuance of restricted shares to employees. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuanceOfRestrictedSharesToEmployeesShares" xlink:to="forty_IssuanceOfRestrictedSharesToEmployeesShares_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IssuanceOfRestrictedSharesToEmployeesShares_doc" xml:lang="en-US"> Issuance of restricted shares to employees in shares. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuedAdditionalPrivatePlacementOfParValue" xlink:to="forty_IssuedAdditionalPrivatePlacementOfParValue_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IssuedAdditionalPrivatePlacementOfParValue_doc" xml:lang="en-US"> Issued additional private placement of par value. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuedPledgedAdditionalShares" xlink:to="forty_IssuedPledgedAdditionalShares_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IssuedPledgedAdditionalShares_doc" xml:lang="en-US"> Issued pledged additional shares. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_JapanMember" xlink:to="forty_JapanMember_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_JapanMember_doc" xml:lang="en-US"> Japan member. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LiabilitiesToBanksAndOthers" xlink:to="forty_LiabilitiesToBanksAndOthers_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LiabilitiesToBanksAndOthers_doc" xml:lang="en-US"> The total amount of liabilities to banks and others. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LiabilityToFinancialInstitutionDescription" xlink:to="forty_LiabilityToFinancialInstitutionDescription_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LiabilityToFinancialInstitutionDescription_doc" xml:lang="en-US"> Description of liability to financial institution. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LiabilityToFormerlyShareholders" xlink:to="forty_LiabilityToFormerlyShareholders_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LiabilityToFormerlyShareholders_doc" xml:lang="en-US"> The total amount of liability to formerly shareholders. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LineOfCreditFacilityCommitmentPercentage" xlink:to="forty_LineOfCreditFacilityCommitmentPercentage_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LineOfCreditFacilityCommitmentPercentage_doc" xml:lang="en-US"> The fee, expressed as a percentage of the line of credit facility, for the line of credit facility regardless of whether the facility has been used. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LinkageBasisDescription" xlink:to="forty_LinkageBasisDescription_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LinkageBasisDescription_doc" xml:lang="en-US"> Linkage basis description. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LoanAmount" xlink:to="forty_LoanAmount_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LoanAmount_doc" xml:lang="en-US"> It represents loan amount. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermCurrency" xlink:label="forty_LongTermCurrency"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermCurrency" xlink:to="forty_LongTermCurrency_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LongTermCurrency_doc" xml:lang="en-US"> Long term currency. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalCurrentMaturities" xlink:to="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalCurrentMaturities_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalCurrentMaturities_doc" xml:lang="en-US"> It represents current maturties. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFiveAndThereafter" xlink:to="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFiveAndThereafter_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFiveAndThereafter_doc" xml:lang="en-US"> The amount of long term debt maturities year five and thereafter. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFour" xlink:to="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFour_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearFour_doc" xml:lang="en-US"> The amount of long term debt maturities year four. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearThree" xlink:to="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearThree_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearThree_doc" xml:lang="en-US"> The amount of long term debt maturities year three. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearTwo" xlink:to="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearTwo_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LongTermDebtMaturitiesRepaymentsOfPrincipalYearTwo_doc" xml:lang="en-US"> The amount of long term debt maturities year two. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtMaturityTerm" xlink:to="forty_LongTermDebtMaturityTerm_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LongTermDebtMaturityTerm_doc" xml:lang="en-US"> It represents maturity term. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermDebtTotal" xlink:to="forty_LongTermDebtTotal_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LongTermDebtTotal_doc" xml:lang="en-US"> The amount of long term debt maturities total. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermEffectiveInterestRate" xlink:label="forty_LongTermEffectiveInterestRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermEffectiveInterestRate" xlink:to="forty_LongTermEffectiveInterestRate_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LongTermEffectiveInterestRate_doc" xml:lang="en-US"> Long term effective interest rate. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermLiabilities" xlink:to="forty_LongTermLiabilities_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LongTermLiabilities_doc" xml:lang="en-US"> The total amount of long term liabilities. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_LongTermSecuritiesAvailableForSale" xlink:label="forty_LongTermSecuritiesAvailableForSale"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermSecuritiesAvailableForSale" xlink:to="forty_LongTermSecuritiesAvailableForSale_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LongTermSecuritiesAvailableForSale_doc" xml:lang="en-US"> The value of long term securities available for sale. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesAmortizedCost" xlink:to="forty_MarketableSecuritiesAmortizedCost_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_MarketableSecuritiesAmortizedCost_doc" xml:lang="en-US"> The value of marketable securities amortized cost. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesMarketValue" xlink:to="forty_MarketableSecuritiesMarketValue_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_MarketableSecuritiesMarketValue_doc" xml:lang="en-US"> The value of marketable securities market value. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesMarketValueForOneToThreeYears" xlink:to="forty_MarketableSecuritiesMarketValueForOneToThreeYears_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_MarketableSecuritiesMarketValueForOneToThreeYears_doc" xml:lang="en-US"> Marketable securities market value for one to three years </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesMarketValueForThreeToFiveYears" xlink:to="forty_MarketableSecuritiesMarketValueForThreeToFiveYears_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_MarketableSecuritiesMarketValueForThreeToFiveYears_doc" xml:lang="en-US"> Marketable securities market value for three to five years. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesUnrealizedGainForOneToThreeYears" xlink:to="forty_MarketableSecuritiesUnrealizedGainForOneToThreeYears_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_MarketableSecuritiesUnrealizedGainForOneToThreeYears_doc" xml:lang="en-US"> Marketable securities unrealized gain for one to three years. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesUnrealizedGainForThreeToFiveYears" xlink:to="forty_MarketableSecuritiesUnrealizedGainForThreeToFiveYears_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_MarketableSecuritiesUnrealizedGainForThreeToFiveYears_doc" xml:lang="en-US"> Marketable securities unrealized gain for three to five years. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesUnrealizedGains" xlink:to="forty_MarketableSecuritiesUnrealizedGains_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_MarketableSecuritiesUnrealizedGains_doc" xml:lang="en-US"> The value of marketable securities unrealized gains. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesUnrealizedLosses" xlink:to="forty_MarketableSecuritiesUnrealizedLosses_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_MarketableSecuritiesUnrealizedLosses_doc" xml:lang="en-US"> The value of marketable securities unrealized losses. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesUnrealizedLossesForOneToThreeYears" xlink:to="forty_MarketableSecuritiesUnrealizedLossesForOneToThreeYears_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_MarketableSecuritiesUnrealizedLossesForOneToThreeYears_doc" xml:lang="en-US"> Marketable securities unrealized losses one to three years. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesUnrealizedLossesForThreeToFiveYears" xlink:to="forty_MarketableSecuritiesUnrealizedLossesForThreeToFiveYears_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_MarketableSecuritiesUnrealizedLossesForThreeToFiveYears_doc" xml:lang="en-US"> Marketable Securities Unrealized Losses for three to five years. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MatrixDebtRatio" xlink:to="forty_MatrixDebtRatio_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_MatrixDebtRatio_doc" xml:lang="en-US"> Description of ratio less cash to annual EBITDA for the period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MatrixEquityAmount" xlink:to="forty_MatrixEquityAmount_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_MatrixEquityAmount_doc" xml:lang="en-US"> Amount of matrix equity shall not lower than the value for the reporting period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MinorityInterestsCommencingDate" xlink:to="forty_MinorityInterestsCommencingDate_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_MinorityInterestsCommencingDate_doc" xml:lang="en-US"> Minority interests commencing date. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NetIncomeAttributableToRedeemableNoncontrollingInterest" xlink:label="forty_NetIncomeAttributableToRedeemableNoncontrollingInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NetIncomeAttributableToRedeemableNoncontrollingInterest" xlink:to="forty_NetIncomeAttributableToRedeemableNoncontrollingInterest_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NetIncomeAttributableToRedeemableNoncontrollingInterest_doc" xml:lang="en-US"> Amount of net income attributable to redeemable non-controlling interest. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NetIncomeBasicEarningsPerShareIncomeAvailableToShareholders" xlink:to="forty_NetIncomeBasicEarningsPerShareIncomeAvailableToShareholders_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NetIncomeBasicEarningsPerShareIncomeAvailableToShareholders_doc" xml:lang="en-US"> The explanation of the adjustments made to the numerator in the calculation of the basic earnings per share. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NonControllingInterestInMaterialPartiallyOwnedSubsidiariesTableTextBlock" xlink:to="forty_NonControllingInterestInMaterialPartiallyOwnedSubsidiariesTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NonControllingInterestInMaterialPartiallyOwnedSubsidiariesTableTextBlock_doc" xml:lang="en-US"> Non-controlling interest in material partially owned subsidiaries. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_NonControllingInterestsAtAcquisitionDate" xlink:label="forty_NonControllingInterestsAtAcquisitionDate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NonControllingInterestsAtAcquisitionDate" xlink:to="forty_NonControllingInterestsAtAcquisitionDate_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NonControllingInterestsAtAcquisitionDate_doc" xml:lang="en-US"> Non-controlling interests at acquisition date. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NonDeductibleExpenses" xlink:to="forty_NonDeductibleExpenses_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NonDeductibleExpenses_doc" xml:lang="en-US"> The entire amount of non-deductible expenses. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NonRefundableWithholdingTaxAndTaxAdvances" xlink:to="forty_NonRefundableWithholdingTaxAndTaxAdvances_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NonRefundableWithholdingTaxAndTaxAdvances_doc" xml:lang="en-US"> Non-refundable withholding tax and tax advances. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies" xlink:to="forty_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NoncontrollingInterestsArisingFromInitiallyConsolidatedCompanies_doc" xml:lang="en-US"> The amount of non-controlling interests arising from initially consolidated companies. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NoncontrollingInterestsChangesDueToHoldingChangesIncludingExerciseOfEmployeesStockOptions" xlink:to="forty_NoncontrollingInterestsChangesDueToHoldingChangesIncludingExerciseOfEmployeesStockOptions_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NoncontrollingInterestsChangesDueToHoldingChangesIncludingExerciseOfEmployeesStockOptions_doc" xml:lang="en-US"> The amount of non-controlling interests changes due to holding changes, including exercise of employees stock options. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfCompanies" xlink:to="forty_NumberOfCompanies_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NumberOfCompanies_doc" xml:lang="en-US"> The total number of companies. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfInsuranceProfessionals" xlink:to="forty_NumberOfInsuranceProfessionals_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NumberOfInsuranceProfessionals_doc" xml:lang="en-US"> Number of insurance professionals. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangement" xlink:to="forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangement_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NumberOfShareOptionExercisableInSharebasedPaymentArrangement_doc" xml:lang="en-US"> The number of share options exercisable in a share-based payment arrangement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionExercisedInSharebasedPaymentArrangement" xlink:to="forty_NumberOfShareOptionExercisedInSharebasedPaymentArrangement_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NumberOfShareOptionExercisedInSharebasedPaymentArrangement_doc" xml:lang="en-US"> The number of share options exercised in a share-based payment arrangement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement" xlink:to="forty_NumberOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NumberOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement_doc" xml:lang="en-US"> The number of share options expired and forfeited in a share-based payment arrangement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionForfeitedInSharebasedPaymentArrangement" xlink:to="forty_NumberOfShareOptionForfeitedInSharebasedPaymentArrangement_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NumberOfShareOptionForfeitedInSharebasedPaymentArrangement_doc" xml:lang="en-US"> The number of share options forfeited in a share-based payment arrangement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionGrantedInSharebasedPaymentArrangement" xlink:to="forty_NumberOfShareOptionGrantedInSharebasedPaymentArrangement_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NumberOfShareOptionGrantedInSharebasedPaymentArrangement_doc" xml:lang="en-US"> The number of share options granted in a share-based payment arrangement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfShareOptionsOutstanding" xlink:to="forty_NumberOfShareOptionsOutstanding_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NumberOfShareOptionsOutstanding_doc" xml:lang="en-US"> The number of share options outstanding in a share-based payment arrangement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfTreasurySharesOutstanding" xlink:to="forty_NumberOfTreasurySharesOutstanding_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NumberOfTreasurySharesOutstanding_doc" xml:lang="en-US"> Number Of Treasury Shares Outstanding. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OperationalTargets" xlink:to="forty_OperationalTargets_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_OperationalTargets_doc" xml:lang="en-US"> Operational targets. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OptionsExpirePeriods" xlink:to="forty_OptionsExpirePeriods_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_OptionsExpirePeriods_doc" xml:lang="en-US"> Options expire periods. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OptionsToPurchaseOfOrdinaryShares" xlink:to="forty_OptionsToPurchaseOfOrdinaryShares_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_OptionsToPurchaseOfOrdinaryShares_doc" xml:lang="en-US"> Options to purchase of ordinary shares. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherAccountsPayableTextBlock" xlink:to="forty_OtherAccountsPayableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_OtherAccountsPayableTextBlock_doc" xml:lang="en-US"> Disclosure of other accounts payable. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherComprehensiveIncomeFromAvailable-For-SaleSecurities" xlink:to="forty_OtherComprehensiveIncomeFromAvailable-For-SaleSecurities_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_OtherComprehensiveIncomeFromAvailable-For-SaleSecurities_doc" xml:lang="en-US"> Other comprehensive income from available-for-sale securities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherComprehensivesIncome" xlink:to="forty_OtherComprehensivesIncome_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_OtherComprehensivesIncome_doc" xml:lang="en-US"> The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]]. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherLongTermAssets" xlink:to="forty_OtherLongTermAssets_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_OtherLongTermAssets_doc" xml:lang="en-US"> The total amount of other long term assets. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherTaxes" xlink:to="forty_OtherTaxes_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_OtherTaxes_doc" xml:lang="en-US"> The entire amount of other taxes. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OthersCurrentAccountsReceivable" xlink:to="forty_OthersCurrentAccountsReceivable_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_OthersCurrentAccountsReceivable_doc" xml:lang="en-US"> The amount of others current accounts receivable. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OthersEquity" xlink:to="forty_OthersEquity_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_OthersEquity_doc" xml:lang="en-US"> Amount of other equity from the issuance of equity classified as other. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OthersMember" xlink:to="forty_OthersMember_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_OthersMember_doc" xml:lang="en-US"> Other member </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PaymentOfPlaintiffsAmount" xlink:to="forty_PaymentOfPlaintiffsAmount_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PaymentOfPlaintiffsAmount_doc" xml:lang="en-US"> Payment of plaintff amount for the period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PaymentsForCapitalizationOfSoftwareDevelopmentAndOtherCosts" xlink:to="forty_PaymentsForCapitalizationOfSoftwareDevelopmentAndOtherCosts_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PaymentsForCapitalizationOfSoftwareDevelopmentAndOtherCosts_doc" xml:lang="en-US"> The cash outflow for capitalization of software development and other costs. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PaymentsToFormerShareholdersOfConsolidatedCompanies" xlink:label="forty_PaymentsToFormerShareholdersOfConsolidatedCompanies"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PaymentsToFormerShareholdersOfConsolidatedCompanies" xlink:to="forty_PaymentsToFormerShareholdersOfConsolidatedCompanies_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PaymentsToFormerShareholdersOfConsolidatedCompanies_doc" xml:lang="en-US"> The amount of payments to former shareholders of consolidated companies. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercenatgeOfShareholderInterest" xlink:to="forty_PercenatgeOfShareholderInterest_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PercenatgeOfShareholderInterest_doc" xml:lang="en-US"> Percentage of shareholder interest for the period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercenatgeOfShortTermDepositsAndShortTermMarketableSecuritiesToAssets" xlink:to="forty_PercenatgeOfShortTermDepositsAndShortTermMarketableSecuritiesToAssets_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PercenatgeOfShortTermDepositsAndShortTermMarketableSecuritiesToAssets_doc" xml:lang="en-US"> Percenatge of short term deposits and short term marketable securities to assets. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfConvertibleBondsPrincipalAmount" xlink:to="forty_PercentageOfConvertibleBondsPrincipalAmount_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PercentageOfConvertibleBondsPrincipalAmount_doc" xml:lang="en-US"> Percentage of debentures principal amount. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PercentageOfEffectiveInterestRate" xlink:label="forty_PercentageOfEffectiveInterestRate"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfEffectiveInterestRate" xlink:to="forty_PercentageOfEffectiveInterestRate_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PercentageOfEffectiveInterestRate_doc" xml:lang="en-US"> The percentage of effective interest rate. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfInterestRateStated" xlink:to="forty_PercentageOfInterestRateStated_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PercentageOfInterestRateStated_doc" xml:lang="en-US"> Percentage of interest rate increase or decrease of sales transaction. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfInterestShares" xlink:to="forty_PercentageOfInterestShares_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PercentageOfInterestShares_doc" xml:lang="en-US"> Percentage of share interest to companies for the period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfMatrixShareCapital" xlink:to="forty_PercentageOfMatrixShareCapital_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PercentageOfMatrixShareCapital_doc" xml:lang="en-US"> Percentage of matrix share capital for the period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfNetFinancialIndebtedness" xlink:to="forty_PercentageOfNetFinancialIndebtedness_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PercentageOfNetFinancialIndebtedness_doc" xml:lang="en-US"> Percenatge of inancial indebtedness net of cash, marketable securities, deposits and other liquid financial instruments for the period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfOwnershipInterestInInvestees" xlink:to="forty_PercentageOfOwnershipInterestInInvestees_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PercentageOfOwnershipInterestInInvestees_doc" xml:lang="en-US"> The percentage of ownership interest in investees for the period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfProfitsAccruedDistribution" xlink:to="forty_PercentageOfProfitsAccruedDistribution_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PercentageOfProfitsAccruedDistribution_doc" xml:lang="en-US"> Percenatge of profit accured distribution for the period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfPurchasePriceIssuedOfDebentures" xlink:to="forty_PercentageOfPurchasePriceIssuedOfDebentures_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PercentageOfPurchasePriceIssuedOfDebentures_doc" xml:lang="en-US"> Percentage of purchase price issued of debentures. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfRemainingAssetsAcquired" xlink:to="forty_PercentageOfRemainingAssetsAcquired_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PercentageOfRemainingAssetsAcquired_doc" xml:lang="en-US"> Percentage of remaining assets acquired. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfShareInEquity" xlink:to="forty_PercentageOfShareInEquity_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PercentageOfShareInEquity_doc" xml:lang="en-US"> Percentage of share in equity. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfShareProfit" xlink:to="forty_PercentageOfShareProfit_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PercentageOfShareProfit_doc" xml:lang="en-US"> Percentage of share profit. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PercentageOfSubsidiaryOutstandingShares" xlink:to="forty_PercentageOfSubsidiaryOutstandingShares_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PercentageOfSubsidiaryOutstandingShares_doc" xml:lang="en-US"> Percentage of subsidiary outstanding shares. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ProceedsFromSaleAndMaturityOfAvailable-For-SaleMarketableSecurities" xlink:to="forty_ProceedsFromSaleAndMaturityOfAvailable-For-SaleMarketableSecurities_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ProceedsFromSaleAndMaturityOfAvailable-For-SaleMarketableSecurities_doc" xml:lang="en-US"> Proceeds from sale and maturity of available-for-sale marketable securities. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ProfitLossAttributableToRedeemableNon-ControllingInterests" xlink:label="forty_ProfitLossAttributableToRedeemableNon-ControllingInterests"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ProfitLossAttributableToRedeemableNon-ControllingInterests" xlink:to="forty_ProfitLossAttributableToRedeemableNon-ControllingInterests_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ProfitLossAttributableToRedeemableNon-ControllingInterests_doc" xml:lang="en-US"> The profit (loss) attributable to redeemable non-controlling interests </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ProfitLossIncludingNoncontrollingInterest" xlink:to="forty_ProfitLossIncludingNoncontrollingInterest_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ProfitLossIncludingNoncontrollingInterest_doc" xml:lang="en-US"> Profit Loss Including Noncontrolling Interest. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PropertyAndEquipment" xlink:to="forty_PropertyAndEquipment_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PropertyAndEquipment_doc" xml:lang="en-US"> The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PropertyAndEquipmentTableTextBlock" xlink:to="forty_PropertyAndEquipmentTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PropertyAndEquipmentTableTextBlock_doc" xml:lang="en-US"> Non current assets are located. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PropertyPlantAndEquipmentsGross" xlink:to="forty_PropertyPlantAndEquipmentsGross_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PropertyPlantAndEquipmentsGross_doc" xml:lang="en-US"> Property plant and equipment gross. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PropertyPlantsAndEquipmentsDetailsTextualAbstract" xlink:to="forty_PropertyPlantsAndEquipmentsDetailsTextualAbstract_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PropertyPlantsAndEquipmentsDetailsTextualAbstract_doc" xml:lang="en-US"> Property Plants And Equipments (Details Textual) [Abstract]. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PurchaseOfInvestmentInAndLoansToAffiliatesAndOtherCompanies" xlink:to="forty_PurchaseOfInvestmentInAndLoansToAffiliatesAndOtherCompanies_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PurchaseOfInvestmentInAndLoansToAffiliatesAndOtherCompanies_doc" xml:lang="en-US"> The cash outflow for investment in and loans to affiliates and other companies. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PurchaseOfPropertyAndEquipment" xlink:to="forty_PurchaseOfPropertyAndEquipment_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PurchaseOfPropertyAndEquipment_doc" xml:lang="en-US"> The cash outflow for the purchases of property, plant and equipment, classified as investing activities. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PurchasePriceOfAggregateCommonShares" xlink:label="forty_PurchasePriceOfAggregateCommonShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PurchasePriceOfAggregateCommonShares" xlink:to="forty_PurchasePriceOfAggregateCommonShares_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PurchasePriceOfAggregateCommonShares_doc" xml:lang="en-US"> Purchase price of aggregate common shares. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_PurchasedAggregateCommonShares" xlink:label="forty_PurchasedAggregateCommonShares"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_PurchasedAggregateCommonShares" xlink:to="forty_PurchasedAggregateCommonShares_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_PurchasedAggregateCommonShares_doc" xml:lang="en-US"> Purchased aggregate common shares, </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RangeOfExercisePricesOfOutstandingShareOptions" xlink:to="forty_RangeOfExercisePricesOfOutstandingShareOptions_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RangeOfExercisePricesOfOutstandingShareOptions_doc" xml:lang="en-US"> The range of exercise price of outstanding share options. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RangeOfExercisePricesOfOutstandingShareOptionsLowerLimit" xlink:to="forty_RangeOfExercisePricesOfOutstandingShareOptionsLowerLimit_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RangeOfExercisePricesOfOutstandingShareOptionsLowerLimit_doc" xml:lang="en-US"> The range of exercise price of outstanding share options lower limit. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RangeOfExercisePricesOfOutstandingShareOptionsUpperLimit" xlink:to="forty_RangeOfExercisePricesOfOutstandingShareOptionsUpperLimit_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RangeOfExercisePricesOfOutstandingShareOptionsUpperLimit_doc" xml:lang="en-US"> The range of exercise price of outstanding share options upper limit. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ReceiptOfLongTermLoans" xlink:to="forty_ReceiptOfLongTermLoans_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ReceiptOfLongTermLoans_doc" xml:lang="en-US"> Receipt of long term loans. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RedeemableNonControllingInterestsAtAcquisitionDate" xlink:to="forty_RedeemableNonControllingInterestsAtAcquisitionDate_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RedeemableNonControllingInterestsAtAcquisitionDate_doc" xml:lang="en-US"> Redeemable non-controlling interests at acquisition date. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RedeemableNoncontrollingInterests" xlink:label="forty_RedeemableNoncontrollingInterests"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RedeemableNoncontrollingInterests" xlink:to="forty_RedeemableNoncontrollingInterests_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RedeemableNoncontrollingInterests_doc" xml:lang="en-US"> Amount of redeemble noncontrolling interests. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RedeemableNoncontrollingInterestsAmount" xlink:to="forty_RedeemableNoncontrollingInterestsAmount_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RedeemableNoncontrollingInterestsAmount_doc" xml:lang="en-US"> The amount of redeemable non-controlling interests. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RedeemableNoncontrollingInterestsReclassificationToNoncontrollingInterests" xlink:label="forty_RedeemableNoncontrollingInterestsReclassificationToNoncontrollingInterests"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RedeemableNoncontrollingInterestsReclassificationToNoncontrollingInterests" xlink:to="forty_RedeemableNoncontrollingInterestsReclassificationToNoncontrollingInterests_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RedeemableNoncontrollingInterestsReclassificationToNoncontrollingInterests_doc" xml:lang="en-US"> Amount of redeemable non-controlling interests reclassification to non-controlling interests. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RedeemableOrdinaryShares" xlink:to="forty_RedeemableOrdinaryShares_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RedeemableOrdinaryShares_doc" xml:lang="en-US"> Redeemable ordinary shares. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_RedemptionOfDebentures" xlink:label="forty_RedemptionOfDebentures"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RedemptionOfDebentures" xlink:to="forty_RedemptionOfDebentures_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RedemptionOfDebentures_doc" xml:lang="en-US"> The amount of debentures redemption. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RefundAmountOfDamages" xlink:to="forty_RefundAmountOfDamages_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RefundAmountOfDamages_doc" xml:lang="en-US"> Refund of all amounts paid by the customer to the subsidiary under the foregoing contracts plus damages in an aggregate. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RepaymentOfLongTermLiabilitiesToOfficeOfTheChiefScientist" xlink:to="forty_RepaymentOfLongTermLiabilitiesToOfficeOfTheChiefScientist_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RepaymentOfLongTermLiabilitiesToOfficeOfTheChiefScientist_doc" xml:lang="en-US"> Repayment of long-term liabilities to office of the chief scientist. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RepaymentsOfBondsWithinNextFifthAndThereafterFinancialYear" xlink:to="forty_RepaymentsOfBondsWithinNextFifthAndThereafterFinancialYear_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RepaymentsOfBondsWithinNextFifthAndThereafterFinancialYear_doc" xml:lang="en-US"> The amount of repayments of bonds within next fifth and thereafter financial year. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RepaymentsOfBondsWithinNextFinancialYear" xlink:to="forty_RepaymentsOfBondsWithinNextFinancialYear_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RepaymentsOfBondsWithinNextFinancialYear_doc" xml:lang="en-US"> The amount of repayments of bonds within next financial year. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RepaymentsOfBondsWithinNextFourthFinancialYear" xlink:to="forty_RepaymentsOfBondsWithinNextFourthFinancialYear_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RepaymentsOfBondsWithinNextFourthFinancialYear_doc" xml:lang="en-US"> The amount of repayments of bonds within next fourth financial year. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RepaymentsOfBondsWithinNextSecondFinancialYear" xlink:to="forty_RepaymentsOfBondsWithinNextSecondFinancialYear_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RepaymentsOfBondsWithinNextSecondFinancialYear_doc" xml:lang="en-US"> The amount of repayments of bonds within next second financial year. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RepaymentsOfBondsWithinNextThirdFinancialYear" xlink:to="forty_RepaymentsOfBondsWithinNextThirdFinancialYear_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RepaymentsOfBondsWithinNextThirdFinancialYear_doc" xml:lang="en-US"> The amount of repayments of bonds within next third financial year. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RestrictedShares" xlink:to="forty_RestrictedShares_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RestrictedShares_doc" xml:lang="en-US"> Number of restricted shares. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RestrictedSharesIssuedToSubsidiary" xlink:to="forty_RestrictedSharesIssuedToSubsidiary_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RestrictedSharesIssuedToSubsidiary_doc" xml:lang="en-US"> Restricted shares issued to subsidiary. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RevenuesClassifiedByGeographicAreaTableTextBlock" xlink:to="forty_RevenuesClassifiedByGeographicAreaTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RevenuesClassifiedByGeographicAreaTableTextBlock_doc" xml:lang="en-US"> Revenues classified by geographic area. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RevenuesFromTrainingAndImplementationServicesTerms" xlink:to="forty_RevenuesFromTrainingAndImplementationServicesTerms_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RevenuesFromTrainingAndImplementationServicesTerms_doc" xml:lang="en-US"> Term period of course for revenue from training and implementations. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SaleOfStockNumberOfSharesIssued" xlink:to="forty_SaleOfStockNumberOfSharesIssued_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SaleOfStockNumberOfSharesIssued_doc" xml:lang="en-US"> The number of shares issued or sold by the subsidiary. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SaleOfStockPercentageOfOwnershipTransaction" xlink:to="forty_SaleOfStockPercentageOfOwnershipTransaction_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SaleOfStockPercentageOfOwnershipTransaction_doc" xml:lang="en-US"> Percentage of subsidiary's or equity investee's stock owned by parent company stock transaction. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfAmortizedCostsOfAvailableForSaleDebtSecuritiesTableTextBlock" xlink:to="forty_ScheduleOfAmortizedCostsOfAvailableForSaleDebtSecuritiesTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ScheduleOfAmortizedCostsOfAvailableForSaleDebtSecuritiesTableTextBlock_doc" xml:lang="en-US"> Tabular disclosure of amortized costs of available-for-sale debt securities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfCarryingAmountOfGoodwillTableTextBlock" xlink:to="forty_ScheduleOfCarryingAmountOfGoodwillTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ScheduleOfCarryingAmountOfGoodwillTableTextBlock_doc" xml:lang="en-US"> The disclosure of carrying amount of goowill forthe period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfComprehensiveIncomeFromAvailableForSaleSecuritiesTableTextBlock" xlink:to="forty_ScheduleOfComprehensiveIncomeFromAvailableForSaleSecuritiesTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ScheduleOfComprehensiveIncomeFromAvailableForSaleSecuritiesTableTextBlock_doc" xml:lang="en-US"> Tabular disclosure of other comprehensive income from available for sale securities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfGoodwillInMaterialPartiallyOwnedSubsidiariesTableTextBlock" xlink:to="forty_ScheduleOfGoodwillInMaterialPartiallyOwnedSubsidiariesTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ScheduleOfGoodwillInMaterialPartiallyOwnedSubsidiariesTableTextBlock_doc" xml:lang="en-US"> Schedule of goodwill in material partially owned subsidiaries. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfIncomeBeforeTaxesOnIncomeTableTextBlock" xlink:to="forty_ScheduleOfIncomeBeforeTaxesOnIncomeTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ScheduleOfIncomeBeforeTaxesOnIncomeTableTextBlock_doc" xml:lang="en-US"> Schedule of income before taxes on income. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfIntangibleAssetsNetTableTextBlock" xlink:to="forty_ScheduleOfIntangibleAssetsNetTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ScheduleOfIntangibleAssetsNetTableTextBlock_doc" xml:lang="en-US"> Shedule of intangible assets net. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersMaturityDatesTableTextBlock" xlink:to="forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersMaturityDatesTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersMaturityDatesTableTextBlock_doc" xml:lang="en-US"> Tabular of maturity dates. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersTableTextBlock" xlink:to="forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ScheduleOfLongTermLiabilitiesToBanksAndOthersTableTextBlock_doc" xml:lang="en-US"> Tabular of composition. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfMarketableSecuritiesAvailable-For-SaleTableTextBlock" xlink:to="forty_ScheduleOfMarketableSecuritiesAvailable-For-SaleTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ScheduleOfMarketableSecuritiesAvailable-For-SaleTableTextBlock_doc" xml:lang="en-US"> Tabular disclosure of marketable securities which are classified as available-for-sale. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfMarketableSecuritiesTableTextBlock" xlink:to="forty_ScheduleOfMarketableSecuritiesTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ScheduleOfMarketableSecuritiesTableTextBlock_doc" xml:lang="en-US"> Tabular disclosure of summary of marketable securities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfOtherAccountsPayableTableTextBlock" xlink:to="forty_ScheduleOfOtherAccountsPayableTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ScheduleOfOtherAccountsPayableTableTextBlock_doc" xml:lang="en-US"> Schedule of Other Accounts Payable. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfTaxesOnIncomeTaxBenefitTableTextBlock" xlink:to="forty_ScheduleOfTaxesOnIncomeTaxBenefitTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ScheduleOfTaxesOnIncomeTaxBenefitTableTextBlock_doc" xml:lang="en-US"> Schedule of taxes on income (tax benefit). </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfTheoreticalTaxExpenseTableTextBlock" xlink:to="forty_ScheduleOfTheoreticalTaxExpenseTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ScheduleOfTheoreticalTaxExpenseTableTextBlock_doc" xml:lang="en-US"> Schedule of theoretical tax expense. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ScheduleOfUnrecognizedTaxBenefitsTableTextBlock" xlink:to="forty_ScheduleOfUnrecognizedTaxBenefitsTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ScheduleOfUnrecognizedTaxBenefitsTableTextBlock_doc" xml:lang="en-US"> Schedule of unrecognized tax benefits. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SecuredDebentures" xlink:to="forty_SecuredDebentures_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SecuredDebentures_doc" xml:lang="en-US"> Shares of secured debenture of series for the reporting period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SeriesASecuredDebenturesMember" xlink:to="forty_SeriesASecuredDebenturesMember_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SeriesASecuredDebenturesMember_doc" xml:lang="en-US"> This member stands for series A secured debentures. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SeriesBConvertibleDebenturesMember" xlink:to="forty_SeriesBConvertibleDebenturesMember_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SeriesBConvertibleDebenturesMember_doc" xml:lang="en-US"> This member stands for series B convertible debentures. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShareBasedPaymentsUnvestedShares" xlink:to="forty_ShareBasedPaymentsUnvestedShares_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ShareBasedPaymentsUnvestedShares_doc" xml:lang="en-US"> Share-based Compensation Arrangement by Share-based Payment Award, Options, Unvested, Number of Shares. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShareOfOtherComprehensiveIncomeOfJointVenture" xlink:to="forty_ShareOfOtherComprehensiveIncomeOfJointVenture_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ShareOfOtherComprehensiveIncomeOfJointVenture_doc" xml:lang="en-US"> Share of other comprehensive income of joint venture. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_SharebasedCompensationAttributableToRedeemableNoncontrollingInterest" xlink:label="forty_SharebasedCompensationAttributableToRedeemableNoncontrollingInterest"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SharebasedCompensationAttributableToRedeemableNoncontrollingInterest" xlink:to="forty_SharebasedCompensationAttributableToRedeemableNoncontrollingInterest_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SharebasedCompensationAttributableToRedeemableNoncontrollingInterest_doc" xml:lang="en-US"> Amount of share-based compensation attributable to redeemable non-controlling interest. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShareholdersEquityNotIncludedMinorityInterest" xlink:to="forty_ShareholdersEquityNotIncludedMinorityInterest_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ShareholdersEquityNotIncludedMinorityInterest_doc" xml:lang="en-US"> Amount of sahreholder equity not included minority interests for the period. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SharesInvestmentInJointVenture" xlink:to="forty_SharesInvestmentInJointVenture_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SharesInvestmentInJointVenture_doc" xml:lang="en-US"> It represents shares. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShortTermLiabilitiesToBanksAndOthersTableTextBlock" xlink:to="forty_ShortTermLiabilitiesToBanksAndOthersTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ShortTermLiabilitiesToBanksAndOthersTableTextBlock_doc" xml:lang="en-US"> Schedule of short term liabilities to banks and others. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_ShortTermSecuritiesAvailableForSale" xlink:label="forty_ShortTermSecuritiesAvailableForSale"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShortTermSecuritiesAvailableForSale" xlink:to="forty_ShortTermSecuritiesAvailableForSale_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ShortTermSecuritiesAvailableForSale_doc" xml:lang="en-US"> The value of short term securities available for sale. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SourceAssets" xlink:to="forty_SourceAssets_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SourceAssets_doc" xml:lang="en-US"> Source assets amount. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SubsidiariesTaxableIncomeTaxRate" xlink:to="forty_SubsidiariesTaxableIncomeTaxRate_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SubsidiariesTaxableIncomeTaxRate_doc" xml:lang="en-US"> Subsidiaries taxable income tax rate. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SubsidiarySharesIssued" xlink:to="forty_SubsidiarySharesIssued_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SubsidiarySharesIssued_doc" xml:lang="en-US"> Subsidiary shares issued. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SummaryOfActivityRelatedToFormulasInvestmentsTableTextBlock" xlink:to="forty_SummaryOfActivityRelatedToFormulasInvestmentsTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SummaryOfActivityRelatedToFormulasInvestmentsTableTextBlock_doc" xml:lang="en-US"> Tabular of activity related to formulas investments. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SummaryOfCompositionOfInvestmentInJointVentureTableTextBlock" xlink:to="forty_SummaryOfCompositionOfInvestmentInJointVentureTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SummaryOfCompositionOfInvestmentInJointVentureTableTextBlock_doc" xml:lang="en-US"> Tabular of Composition of investment in joint venture. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SummaryOfFormulasInvestmentsTableTextBlock" xlink:to="forty_SummaryOfFormulasInvestmentsTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SummaryOfFormulasInvestmentsTableTextBlock_doc" xml:lang="en-US"> Tabular of summary of formulas's investments in companies accounted for at equity. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SummaryOfStatementsOfFinancialPositionTableTextBlock" xlink:to="forty_SummaryOfStatementsOfFinancialPositionTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SummaryOfStatementsOfFinancialPositionTableTextBlock_doc" xml:lang="en-US"> Tabular of statements of financial position. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SummaryOfStatementsOfIncomeTableTextBlock" xlink:to="forty_SummaryOfStatementsOfIncomeTableTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SummaryOfStatementsOfIncomeTableTextBlock_doc" xml:lang="en-US"> Tabular of statements of income. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SupplementaryFinancialStatementInformationTextBlock" xlink:to="forty_SupplementaryFinancialStatementInformationTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SupplementaryFinancialStatementInformationTextBlock_doc" xml:lang="en-US"> Disclosure of supplementary financial statement information. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TaxesInRespectOfPriorYears" xlink:to="forty_TaxesInRespectOfPriorYears_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_TaxesInRespectOfPriorYears_doc" xml:lang="en-US"> Taxes in respect of prior years. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TaxesPaidNet" xlink:to="forty_TaxesPaidNet_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_TaxesPaidNet_doc" xml:lang="en-US"> The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TenderCosts" xlink:to="forty_TenderCosts_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_TenderCosts_doc" xml:lang="en-US"> Costs incurred in connection with an unsolicited tender offer (one where the Entity being sought has not requested the offer). These would include costs relating to evaluation and dissemination of information regarding an unsolicited tender offer. A tender offer is a broad solicitation by an Entity or a third party to purchase a substantial percentage of another entity's shares or units for a limited period of time. The offer is at a fixed price, usually at a premium over the current market price, and is contingent on shareholders' tendering a fixed number of their shares or units. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TotalInvestmentInJointVenture" xlink:to="forty_TotalInvestmentInJointVenture_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_TotalInvestmentInJointVenture_doc" xml:lang="en-US"> It repersents total. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TypeOfSeriesDebentureAxis" xlink:to="forty_TypeOfSeriesDebentureAxis_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_TypeOfSeriesDebentureAxis_doc" xml:lang="en-US"> The axis of a table defines the relationship between the domain members or categories in the table and the line items or concepts that complete the table. </link:label>
<link:loc xlink:type="locator" xlink:href="forty-20181231.xsd#forty_TypeOfSeriesDebentureDomain" xlink:label="forty_TypeOfSeriesDebentureDomain"/>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_TypeOfSeriesDebentureDomain" xlink:to="forty_TypeOfSeriesDebentureDomain_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_TypeOfSeriesDebentureDomain_doc" xml:lang="en-US"> Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UnallocatedCorporateExpenses" xlink:to="forty_UnallocatedCorporateExpenses_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_UnallocatedCorporateExpenses_doc" xml:lang="en-US"> Unallocated corporate expenses. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UndistributedEarningsOfForeignSubsidiariesAndAffiliates" xlink:to="forty_UndistributedEarningsOfForeignSubsidiariesAndAffiliates_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_UndistributedEarningsOfForeignSubsidiariesAndAffiliates_doc" xml:lang="en-US"> Undistributed earnings of foreign subsidiaries and affiliates. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UnitedStatesMember" xlink:to="forty_UnitedStatesMember_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_UnitedStatesMember_doc" xml:lang="en-US"> United States member. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UnrecognizedCompensationCosts" xlink:to="forty_UnrecognizedCompensationCosts_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_UnrecognizedCompensationCosts_doc" xml:lang="en-US"> Unrecognized compensation costs. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UnrecognizedTaxOnIncomeBenefits" xlink:to="forty_UnrecognizedTaxOnIncomeBenefits_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_UnrecognizedTaxOnIncomeBenefits_doc" xml:lang="en-US"> Unrecognized tax benefits. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UseOfEstimatesAndJudgmentsPolicyTextBlock" xlink:to="forty_UseOfEstimatesAndJudgmentsPolicyTextBlock_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_UseOfEstimatesAndJudgmentsPolicyTextBlock_doc" xml:lang="en-US"> The description of the entity's accounting policy use of estimates anf judgments. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UsefulLifeOfIintangibleAssets" xlink:to="forty_UsefulLifeOfIintangibleAssets_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_UsefulLifeOfIintangibleAssets_doc" xml:lang="en-US"> Useful life of intangible assets. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UsefulLifeOfOtherIintangibleAssets" xlink:to="forty_UsefulLifeOfOtherIintangibleAssets_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_UsefulLifeOfOtherIintangibleAssets_doc" xml:lang="en-US"> Useful life of other intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UsefulLivesOrDepreciationRatesAssets" xlink:to="forty_UsefulLivesOrDepreciationRatesAssets_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_UsefulLivesOrDepreciationRatesAssets_doc" xml:lang="en-US"> Straight-line basis over the useful life of the assets at annual rates. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_VestedPortionOfRestrictedShares" xlink:to="forty_VestedPortionOfRestrictedShares_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_VestedPortionOfRestrictedShares_doc" xml:lang="en-US"> Vested portion of restricted shares. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangement_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangement_doc" xml:lang="en-US"> The weighted average exercise price of share options exercisable in a share-based payment arrangement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionExercisedInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionExercisedInSharebasedPaymentArrangement_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionExercisedInSharebasedPaymentArrangement_doc" xml:lang="en-US"> The weighted average exercise price of share options exercised in a share-based payment arrangement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionExpiredAndForfeitedInSharebasedPaymentArrangement_doc" xml:lang="en-US"> The weighted average exercise price of share options expired and forfeited in a share-based payment arrangement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionForfeitedInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionForfeitedInSharebasedPaymentArrangement_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionForfeitedInSharebasedPaymentArrangement_doc" xml:lang="en-US"> The weighted average exercise price of share options forfeited in a share-based payment arrangement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionGrantedInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionGrantedInSharebasedPaymentArrangement_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionGrantedInSharebasedPaymentArrangement_doc" xml:lang="en-US"> The weighted average exercise price of share options granted in a share-based payment arrangement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangement_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangement_doc" xml:lang="en-US"> The weighted average exercise price of share options outstanding in a share-based payment arrangement. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageGrantDateFairValuesOfOptions" xlink:to="forty_WeightedAverageGrantDateFairValuesOfOptions_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_WeightedAverageGrantDateFairValuesOfOptions_doc" xml:lang="en-US"> Weighted average grant date fair values of options. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageRemainingContractualTermOfExercisableShareOptions" xlink:to="forty_WeightedAverageRemainingContractualTermOfExercisableShareOptions_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_WeightedAverageRemainingContractualTermOfExercisableShareOptions_doc" xml:lang="en-US"> The weighted average remaining contractual life of exercisable share options. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageRemainingContractualTermOfOutstandingShareOptions" xlink:to="forty_WeightedAverageRemainingContractualTermOfOutstandingShareOptions_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_WeightedAverageRemainingContractualTermOfOutstandingShareOptions_doc" xml:lang="en-US"> The weighted average remaining contractual term of outstanding share options. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WorkingCapital" xlink:to="forty_WorkingCapital_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_WorkingCapital_doc" xml:lang="en-US"> The amount of working capital. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WorkingCapitalForAssetsAndLiabilities" xlink:to="forty_WorkingCapitalForAssetsAndLiabilities_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_WorkingCapitalForAssetsAndLiabilities_doc" xml:lang="en-US"> Working capital for assets and liabilites. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_UnrealizedGainLossOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncomeNet" xlink:to="forty_UnrealizedGainLossOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncomeNet_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_UnrealizedGainLossOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncomeNet_doc" xml:lang="en-US"> Amount of unrealized gain loss from debt instruments at fair value through other comprehensive income, net. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RealizedGainOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome" xlink:to="forty_RealizedGainOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_RealizedGainOnDebtInstrumentsAtFairValueThroughOtherComprehensiveIncome_doc" xml:lang="en-US"> Amount of realized gain on debt instruments at fair value through other comprehensive income. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NoncontrollingInterestsDueToExpirationOfPutOptions" xlink:to="forty_NoncontrollingInterestsDueToExpirationOfPutOptions_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NoncontrollingInterestsDueToExpirationOfPutOptions_doc" xml:lang="en-US"> Amount of settlement of put options over non-controlling interests. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_SettlementOfPutOptionsOverNoncontrollingInterests" xlink:to="forty_SettlementOfPutOptionsOverNoncontrollingInterests_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_SettlementOfPutOptionsOverNoncontrollingInterests_doc" xml:lang="en-US"> Amount of settlement of put options over non-controlling interests. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ImpactOfAdoptionOfIfrs15" xlink:to="forty_ImpactOfAdoptionOfIfrs15_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ImpactOfAdoptionOfIfrs15_doc" xml:lang="en-US"> Impact of the adoption of IFRS 15. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_EquityIncludingImpactOfAdoptionOfIfrs15" xlink:to="forty_EquityIncludingImpactOfAdoptionOfIfrs15_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_EquityIncludingImpactOfAdoptionOfIfrs15_doc" xml:lang="en-US"> Equity including the impact of the adoption of IFRS 15. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_NumberOfSharesIncludingImpactOfAdoptionOfIfrs15" xlink:to="forty_NumberOfSharesIncludingImpactOfAdoptionOfIfrs15_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_NumberOfSharesIncludingImpactOfAdoptionOfIfrs15_doc" xml:lang="en-US"> Number of shares including the impact of the adoption of IFRS 15. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuanceOfSharesUponConversionOfConvertibleDebentures" xlink:to="forty_IssuanceOfSharesUponConversionOfConvertibleDebentures_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IssuanceOfSharesUponConversionOfConvertibleDebentures_doc" xml:lang="en-US"> Issuance of shares upon conversion of convertible debentures. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuanceOfSharesUponConversionOfConvertibleDebenturesShares" xlink:to="forty_IssuanceOfSharesUponConversionOfConvertibleDebenturesShares_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IssuanceOfSharesUponConversionOfConvertibleDebenturesShares_doc" xml:lang="en-US"> Issuance of shares upon conversion of convertible debentures, shares. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DilutionInFormulasShareInMagicDueToIssuanceOfMagicsOrdinaryShares" xlink:to="forty_DilutionInFormulasShareInMagicDueToIssuanceOfMagicsOrdinaryShares_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DilutionInFormulasShareInMagicDueToIssuanceOfMagicsOrdinaryShares_doc" xml:lang="en-US"> Dilution in Formula's share in Magic due to issuance of Magic's ordinary shares. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DecreaseInShareholdersEquity" xlink:to="forty_DecreaseInShareholdersEquity_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DecreaseInShareholdersEquity_doc" xml:lang="en-US"> Amount of decrease in shareholders' equity. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncreaseInTotalAssets" xlink:to="forty_IncreaseInTotalAssets_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IncreaseInTotalAssets_doc" xml:lang="en-US"> Amount of increase in total assets. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncreaseInTotalLiabilities" xlink:to="forty_IncreaseInTotalLiabilities_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IncreaseInTotalLiabilities_doc" xml:lang="en-US"> Amount of increase in total liabilities. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CashConsiderationOfAcquisition" xlink:to="forty_CashConsiderationOfAcquisition_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_CashConsiderationOfAcquisition_doc" xml:lang="en-US"> Amount of cash consideration. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FinancialIncomeExpenses" xlink:to="forty_FinancialIncomeExpenses_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_FinancialIncomeExpenses_doc" xml:lang="en-US"> Adjustments of financial income expenses. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccumulatedDepreciationPropertyPlantsAndEquipmentNet" xlink:to="forty_AccumulatedDepreciationPropertyPlantsAndEquipmentNet_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AccumulatedDepreciationPropertyPlantsAndEquipmentNet_doc" xml:lang="en-US"> Property, plants and equipment, net accumulated depreciation. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OriginalAmountsOfIntangibleAssetsNet" xlink:to="forty_OriginalAmountsOfIntangibleAssetsNet_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_OriginalAmountsOfIntangibleAssetsNet_doc" xml:lang="en-US"> Original amounts of Intangible assets, net. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccumulatedAmortizationOfIntangibleAssetsNet" xlink:to="forty_AccumulatedAmortizationOfIntangibleAssetsNet_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_AccumulatedAmortizationOfIntangibleAssetsNet_doc" xml:lang="en-US"> Accumulated amortization of Intangible assets, net. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ShorttermAccruedInterest" xlink:to="forty_ShorttermAccruedInterest_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ShorttermAccruedInterest_doc" xml:lang="en-US"> Short-term accrued interest. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongtermAccruedInterest" xlink:to="forty_LongtermAccruedInterest_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_LongtermAccruedInterest_doc" xml:lang="en-US"> Long-term accrued interest. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DebtDiscountAndIssuanceCosts" xlink:to="forty_DebtDiscountAndIssuanceCosts_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DebtDiscountAndIssuanceCosts_doc" xml:lang="en-US"> Debt discount and issuance costs. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ResultOfConversionsEffectedDescription" xlink:to="forty_ResultOfConversionsEffectedDescription_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ResultOfConversionsEffectedDescription_doc" xml:lang="en-US"> Result of conversions effected, description. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuedUnpledgedSharesToFinancialInstitutions" xlink:to="forty_IssuedUnpledgedSharesToFinancialInstitutions_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IssuedUnpledgedSharesToFinancialInstitutions_doc" xml:lang="en-US"> Issued unpledged shares to financial institution's. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuedPledgedShares" xlink:to="forty_IssuedPledgedShares_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IssuedPledgedShares_doc" xml:lang="en-US"> Issued pledged shares. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IssuedPledgedSharesParValue" xlink:to="forty_IssuedPledgedSharesParValue_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IssuedPledgedSharesParValue_doc" xml:lang="en-US"> Issued pledged shares par value. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ProfitsDistributionsDescription" xlink:to="forty_ProfitsDistributionsDescription_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ProfitsDistributionsDescription_doc" xml:lang="en-US"> Profits distributions, description. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ContingentLiability" xlink:to="forty_ContingentLiability_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ContingentLiability_doc" xml:lang="en-US"> Contingent liability. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfEquityLevel" xlink:to="forty_DescriptionOfEquityLevel_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DescriptionOfEquityLevel_doc" xml:lang="en-US"> Description of equity level. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxesOther" xlink:to="forty_DeferredTaxesOther_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_DeferredTaxesOther_doc" xml:lang="en-US"> Deferred taxes other. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ReducedTaxRate" xlink:to="forty_ReducedTaxRate_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_ReducedTaxRate_doc" xml:lang="en-US"> Reduced tax rate. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FiledNoticeDescription" xlink:to="forty_FiledNoticeDescription_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_FiledNoticeDescription_doc" xml:lang="en-US"> Filed notice, description. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IncomeTaxAssessmentsDescription" xlink:to="forty_IncomeTaxAssessmentsDescription_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_IncomeTaxAssessmentsDescription_doc" xml:lang="en-US"> Income tax assessments, description. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations" xlink:to="forty_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations_doc" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="forty_FinancialExpensesRelatedToLiabilitiesInRespectOfBusinessCombinations_doc" xml:lang="en-US"> inancial expenses related to liabilities in respect of business combinations. </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember" xlink:to="ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember_2_lbl" xml:lang="en-US"> Increase (decrease) due to changes in accounting policy and corrections of prior period errors [member] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CambiumLtdMember" xlink:to="forty_CambiumLtdMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CambiumLtdMember_2_lbl" xml:lang="en-US"> CambiumLtdMember </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_IntegritySoftwareLtdMember" xlink:to="forty_IntegritySoftwareLtdMember_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_IntegritySoftwareLtdMember_2_lbl" xml:lang="en-US"> IntegritySoftwareLtdMember </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_CurrentAssets_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentAssets_3_lbl" xml:lang="en-US"> Current assets [Default Label] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentNonfinancialAssets" xlink:to="ifrs-full_OtherNoncurrentNonfinancialAssets_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherNoncurrentNonfinancialAssets_2_lbl" xml:lang="en-US"> Other non-current non-financial assets </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxLiabilities_3_lbl" xml:lang="en-US"> Deferred tax liabilities [Default Label] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredIncomeClassifiedAsNoncurrent" xlink:to="ifrs-full_DeferredIncomeClassifiedAsNoncurrent_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredIncomeClassifiedAsNoncurrent_2_lbl" xml:lang="en-US"> Deferred income classified as non-current </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentNonfinancialLiabilities" xlink:to="ifrs-full_OtherNoncurrentNonfinancialLiabilities_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherNoncurrentNonfinancialLiabilities_2_lbl" xml:lang="en-US"> Other non-current non-financial liabilities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalPaidinCapital" xlink:to="ifrs-full_AdditionalPaidinCapital_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdditionalPaidinCapital_2_lbl" xml:lang="en-US"> Additional paid-in capital [Default Label] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TreasuryShares" xlink:to="ifrs-full_TreasuryShares_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TreasuryShares_2_lbl" xml:lang="en-US"> Treasury shares [Default Label] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_2_lbl" xml:lang="en-US"> Equity attributable to owners of parent </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAndLiabilities_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAndLiabilities_2_lbl" xml:lang="en-US"> Equity and liabilities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CostOfSalesOfTechnology" xlink:to="forty_CostOfSalesOfTechnology_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_CostOfSalesOfTechnology_3_lbl" xml:lang="en-US"> Cost Of Sales Of Technology </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CostOfSales" xlink:to="ifrs-full_CostOfSales_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CostOfSales_2_lbl" xml:lang="en-US"> Cost of sales </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_GrossProfit_2_lbl" xml:lang="en-US"> Gross profit </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_2_lbl" xml:lang="en-US"> Comprehensive income, attributable to owners of parent </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_2_lbl" xml:lang="en-US"> Comprehensive income, attributable to non-controlling interests </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_ProfitLossIncludingNoncontrollingInterest" xlink:to="forty_ProfitLossIncludingNoncontrollingInterest_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_ProfitLossIncludingNoncontrollingInterest_3_lbl" xml:lang="en-US"> Profit Loss Including Noncontrolling Interest </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:to="ifrs-full_ReserveOfExchangeDifferencesOnTranslation_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation_2_lbl" xml:lang="en-US"> Reserve of exchange differences on translation </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AccumulatedOtherComprehensivesIncome" xlink:to="forty_AccumulatedOtherComprehensivesIncome_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AccumulatedOtherComprehensivesIncome_3_lbl" xml:lang="en-US"> Accumulated Other Comprehensives Income </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForEquityInLossesGainsOfCompaniesAccountedForAtEquity" xlink:to="forty_AdjustmentsForEquityInLossesGainsOfCompaniesAccountedForAtEquity_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AdjustmentsForEquityInLossesGainsOfCompaniesAccountedForAtEquity_3_lbl" xml:lang="en-US"> Adjustments For Equity In Losses Gains Of Companies Accounted For At Equity </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:to="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_2_lbl" xml:lang="en-US"> Adjustments for gain (loss) on disposals, property, plant and equipment </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForGainLossFromSaleAndIncreaseInValueOfMarketableSecuritiesClassifiedAsTrading" xlink:to="forty_AdjustmentsForGainLossFromSaleAndIncreaseInValueOfMarketableSecuritiesClassifiedAsTrading_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AdjustmentsForGainLossFromSaleAndIncreaseInValueOfMarketableSecuritiesClassifiedAsTrading_3_lbl" xml:lang="en-US"> Adjustments For Gain Loss From Sale And Increase In Value Of Marketable Securities Classified As Trading </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForAmortizationOfPremiumAndAccruedInterestOnMarketableSecurities" xlink:to="forty_AdjustmentsForAmortizationOfPremiumAndAccruedInterestOnMarketableSecurities_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AdjustmentsForAmortizationOfPremiumAndAccruedInterestOnMarketableSecurities_3_lbl" xml:lang="en-US"> Adjustments For Amortization Of Premium And Accrued Interest On Marketable Securities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AdjustmentsForRealizedGainLossFromSaleOfAvailableForSaleSecurities" xlink:to="forty_AdjustmentsForRealizedGainLossFromSaleOfAvailableForSaleSecurities_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AdjustmentsForRealizedGainLossFromSaleOfAvailableForSaleSecurities_3_lbl" xml:lang="en-US"> Adjustments For Realized Gain Loss From Sale Of Available For Sale Securities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_2_lbl" xml:lang="en-US"> Cash flows from (used in) operating activities </link:label>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" xlink:to="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities_2_lbl" xlink:type="arc"/>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_CashPaidDueToExerciseofPutOptionByNoncontrollingInterests" xlink:to="forty_CashPaidDueToExerciseofPutOptionByNoncontrollingInterests_2_lbl" xlink:type="arc"/>
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<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WorkingCapital_3_lbl" xml:lang="en-US"> Working Capital </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LiabilitiesToBanksAndOthers" xlink:to="forty_LiabilitiesToBanksAndOthers_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LiabilitiesToBanksAndOthers_3_lbl" xml:lang="en-US"> Liabilities To Banks And Others </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LongTermLiabilities" xlink:to="forty_LongTermLiabilities_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LongTermLiabilities_3_lbl" xml:lang="en-US"> Long Term Liabilities </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxLiability" xlink:to="forty_DeferredTaxLiability_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DeferredTaxLiability_3_lbl" xml:lang="en-US"> Deferred Tax Liability </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_LiabilityToFormerlyShareholders" xlink:to="forty_LiabilityToFormerlyShareholders_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_LiabilityToFormerlyShareholders_3_lbl" xml:lang="en-US"> Liability To Formerly Shareholders </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AssetsAndLiabilitiesOfSubsidiariesConsolidatedAsOfAcquisitionDate" xlink:to="forty_AssetsAndLiabilitiesOfSubsidiariesConsolidatedAsOfAcquisitionDate_3_lbl" xlink:type="arc"/>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:to="ifrs-full_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory_2_lbl" xlink:type="arc"/>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory_2_lbl" xlink:type="arc"/>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsExplanatory_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsExplanatory_2_lbl" xml:lang="en-US"> Disclosure of intangible assets [text block] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfGoodwillExplanatory" xlink:to="ifrs-full_DisclosureOfGoodwillExplanatory_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfGoodwillExplanatory_2_lbl" xml:lang="en-US"> Disclosure of goodwill [text block] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_2_lbl" xlink:type="arc"/>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:to="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_2_lbl" xml:lang="en-US"> Disclosure of share capital, reserves and other equity interest [text block] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories_2_lbl" xml:lang="en-US"> Description of accounting policy for measuring inventories [text block] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DescriptionOfAccountingPolicyForDebenturesPolicyTextBlock" xlink:to="forty_DescriptionOfAccountingPolicyForDebenturesPolicyTextBlock_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DescriptionOfAccountingPolicyForDebenturesPolicyTextBlock_3_lbl" xml:lang="en-US"> Description Of Accounting Policy For Debentures [Policy Text Block] </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory_2_lbl" xlink:type="arc"/>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory_2_lbl" xml:lang="en-US"> Description of accounting policy for employee benefits [text block] </link:label>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherTangibleOrIntangibleAssetsTransferred" xlink:to="ifrs-full_OtherTangibleOrIntangibleAssetsTransferred_2_lbl" xlink:type="arc"/>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredIncomeRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredIncomeRecognisedAsOfAcquisitionDate_2_lbl" xlink:type="arc"/>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilitiesRecognisedAsOfAcquisitionDate_2_lbl" xml:lang="en-US"> Financial liabilities recognised as of acquisition date </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_BackogIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:to="forty_BackogIntangibleAssetsRecognisedAsOfAcquisitionDate_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_BackogIntangibleAssetsRecognisedAsOfAcquisitionDate_3_lbl" xml:lang="en-US"> Backog Intangible Assets Recognised As Of Acquisition Date </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxLiabilityRecognisedAsOfAcquisitionDate" xlink:to="forty_DeferredTaxLiabilityRecognisedAsOfAcquisitionDate_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DeferredTaxLiabilityRecognisedAsOfAcquisitionDate_2_lbl" xml:lang="en-US"> DeferredTaxLiabilityRecognisedAsOfAcquisitionDate </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DeferredTaxLiabilitieRecognisedAsOfAcquisitionDate" xlink:to="forty_DeferredTaxLiabilitieRecognisedAsOfAcquisitionDate_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_DeferredTaxLiabilitieRecognisedAsOfAcquisitionDate_2_lbl" xml:lang="en-US"> DeferredTaxLiabilitieRecognisedAsOfAcquisitionDate </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_MarketableSecuritiesUnrealizedLossesForOneToThreeYears" xlink:to="forty_MarketableSecuritiesUnrealizedLossesForOneToThreeYears_3_lbl" xlink:type="arc"/>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_OtherComprehensiveIncomeFromAvailable-For-SaleSecurities" xlink:to="forty_OtherComprehensiveIncomeFromAvailable-For-SaleSecurities_4_lbl" xlink:type="arc"/>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentReceivables" xlink:to="ifrs-full_OtherCurrentReceivables_2_lbl" xlink:type="arc"/>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_RedeemableNoncontrollingInterestsAmount" xlink:to="forty_RedeemableNoncontrollingInterestsAmount_3_lbl" xlink:type="arc"/>
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<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_DividendPreferenceDerivativeInTsg" xlink:to="forty_DividendPreferenceDerivativeInTsg_3_lbl" xlink:type="arc"/>
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<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_GoodwillEquityAtReportingDate_3_lbl" xml:lang="en-US"> Goodwill Equity At Reporting Date </link:label>
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<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_NumberOfShareOptionsOutstanding_4_lbl" xml:lang="en-US"> Number Of Share Options Outstanding </link:label>
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<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionExercisedInSharebasedPaymentArrangement_3_lbl" xml:lang="en-US"> Weighted Average Exercise Price Of Share Option Exercised In Sharebased Payment Arrangement </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangement_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionExercisableInSharebasedPaymentArrangement_3_lbl" xml:lang="en-US"> Weighted Average Exercise Price Of Share Option Exercisable In Sharebased Payment Arrangement </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageRemainingContractualTermOfGrantedShareOptions" xlink:to="forty_WeightedAverageRemainingContractualTermOfGrantedShareOptions_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WeightedAverageRemainingContractualTermOfGrantedShareOptions_2_lbl" xml:lang="en-US"> WeightedAverageRemainingContractualTermOfGrantedShareOptions </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageRemainingContractualTermOfExercisableShareOptions" xlink:to="forty_WeightedAverageRemainingContractualTermOfExercisableShareOptions_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WeightedAverageRemainingContractualTermOfExercisableShareOptions_3_lbl" xml:lang="en-US"> Weighted Average Remaining Contractual Term Of Exercisable Share Options </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AggregateIntrinsicValueOfOutstandingShareOptions" xlink:to="forty_AggregateIntrinsicValueOfOutstandingShareOptions_4_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AggregateIntrinsicValueOfOutstandingShareOptions_4_lbl" xml:lang="en-US"> Aggregate Intrinsic Value Of Outstanding Share Options </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AggregateIntrinsicValueOfExercisedShareOptions" xlink:to="forty_AggregateIntrinsicValueOfExercisedShareOptions_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AggregateIntrinsicValueOfExercisedShareOptions_3_lbl" xml:lang="en-US"> Aggregate Intrinsic Value Of Exercised Share Options </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AggregateIntrinsicValueOfGrantedShareOptions" xlink:to="forty_AggregateIntrinsicValueOfGrantedShareOptions_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AggregateIntrinsicValueOfGrantedShareOptions_2_lbl" xml:lang="en-US"> AggregateIntrinsicValueOfGrantedShareOptions </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_AggregateIntrinsicValueOfExercisableShareOptions" xlink:to="forty_AggregateIntrinsicValueOfExercisableShareOptions_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_AggregateIntrinsicValueOfExercisableShareOptions_3_lbl" xml:lang="en-US"> Aggregate Intrinsic Value Of Exercisable Share Options </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionGrantedInSharebasedPaymentArrangement" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionGrantedInSharebasedPaymentArrangement_3_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionGrantedInSharebasedPaymentArrangement_3_lbl" xml:lang="en-US"> Weighted Average Exercise Price Of Share Option Granted In Sharebased Payment Arrangement </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangements" xlink:to="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangements_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangements_2_lbl" xml:lang="en-US"> WeightedAverageExercisePriceOfShareOptionOutstandingInSharebasedPaymentArrangements </link:label>
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<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_WeightedAverageExercisePriceOfShareOptionForfeitedInSharebasedPaymentArrangement_3_lbl" xml:lang="en-US"> Weighted Average Exercise Price Of Share Option Forfeited In Sharebased Payment Arrangement </link:label>
<link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PlanAssetsAtFairValue" xlink:to="ifrs-full_PlanAssetsAtFairValue_2_lbl" xlink:type="arc"/>
<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PlanAssetsAtFairValue_2_lbl" xml:lang="en-US"> Plan assets, at fair value </link:label>
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<link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="forty_OtherTaxes_3_lbl" xml:lang="en-US"> Other Taxes </link:label>
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