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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Kenon Holdings Ltd | NYSE:KEN | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.115 | -0.48% | 23.84 | 23.9599 | 23.7449 | 23.85 | 3,793 | 01:00:00 |
|
|
KENON HOLDINGS LTD.
|
|
Date: August 31, 2023
|
|
By:
|
/s/ Robert L. Rosen
|
|
|
Name:
|
Robert L. Rosen
|
|
|
Title:
|
Chief Executive Officer
|
• |
Kenon has returned approximately $24 million of capital to shareholders by repurchasing approximately 1.8% of its total outstanding shares since the start of the $50 million share repurchase plan announced in March 2023.
|
• |
Financial results:
|
• |
OPC’s net loss in Q2 2023 was $11 million, as compared to a net loss of $10 million in Q2 2022. OPC’s Q2 2023 net loss included its share in profit of CPV of $4 million as compared to a $10 million share in loss of CPV in Q2 2022.
|
• |
OPC’s Adjusted EBITDA1 (including proportionate share in Adjusted EBITDA of associated companies) in Q2 2023 was $47 million, as compared to $26 million in Q2 2022.
|
• |
Financial results2:
|
• |
ZIM reported a net loss in Q2 2023 of $213 million, as compared to net profit of $1.3 billion in Q2 2022.
|
• |
ZIM reported Adjusted EBITDA1 in Q2 2023 of $275 million, as compared to $2.1 billion in Q2 2022.
|
For the three months ended
June 30,
|
||||||||
2023
|
2022
|
|||||||
$ millions
|
||||||||
Revenue
|
165
|
121
|
||||||
Cost of sales (excluding depreciation and amortization)
|
(129
|
)
|
(100
|
)
|
||||
Finance (expenses)/income, net
|
(16
|
)
|
9
|
|||||
Share in profit/(loss) of associated companies, net
|
4
|
(10
|
)
|
|||||
Loss for the period
|
(11
|
)
|
(10
|
)
|
||||
Attributable to:
|
||||||||
Equity holders of OPC
|
(6
|
)
|
(4
|
)
|
||||
Non-controlling interest
|
(5
|
)
|
(6
|
)
|
||||
Adjusted EBITDA3
|
47
|
26
|
For the three months ended
June 30,
|
||||||||
2023
|
2022
|
|||||||
$ millions
|
||||||||
Israel
|
147
|
105
|
||||||
U.S.
|
18
|
16
|
||||||
Total
|
165
|
121
|
• |
Revenue from sale of energy to private customers in Israel – Excluding the impact of translating OPC’s revenue from NIS to USD, such revenues increased by $22 million
primarily as a result of (i) $15 million from an increase in the generation component tariff and (ii) an increase of $6 million from the consolidation of results of the Gat Power Plant in Q2 2023;
|
• |
Revenue from private customers in respect of infrastructure services – Excluding the impact of translating OPC’s revenue from NIS to USD, such revenues increased by $14
million primarily as a result of (i) an increase of $6 million from an increase in the infrastructure tariff, (ii) an increase of $6 million from an increase in customer consumption and (iii) an increase of $2 million from the consolidation
of results of the Gat Power Plant in Q2 2023;
|
• |
Revenue from sale of energy to the System Operator and to other suppliers – Excluding the impact of translating OPC’s revenue from NIS to USD, such revenues increased by
$7 million as a result of consolidation of results from the Gat Power Plant in Q2 2023; and
|
• |
Other revenues – Excluding the impact of translating OPC’s revenue from NIS to USD, such revenues increased by $8 million primarily as a result of revenue from test runs
of Tzomet Power Plant prior to the commencement of commercial operations, which took place in June 2023.
|
For the three months
ended June 30,
|
||||||||
2023
|
2022
|
|||||||
$ millions
|
||||||||
Israel
|
118
|
93
|
||||||
U.S.
|
11
|
7
|
||||||
Total
|
129
|
100
|
• |
Natural gas and diesel oil consumption in Israel – Excluding the impact of translating these costs from NIS to USD, such costs increased by $15 million primarily due to
(i) an increase of $4 million from an increase in gas prices, which are linked to an increase in the generation component tariff and movements in the USD/NIS exchange rate, (ii) an increase of $10 million from an increase in gas
consumption; and (iii) an increase of $5 million from the consolidation of results of the Gat Power Plant in Q2 2023, partially offset by a decrease in gas expenses of $4 million as a result of the commencement of delivery of gas from
Energean from Q2 2023;
|
• |
Expenses for infrastructure services in Israel – Excluding the impact of translating these costs from NIS to USD, such costs increased by $14 million primarily as a
result of (i) an increase of $6 million as such expenses are linked to the infrastructure tariff, (ii) an increase of $6 million due to an increase in customer consumption and (iii) an increase of $2 million from the consolidation of
results of the Gat Power Plant in Q2 2023; and
|
• |
Other expenses – Excluding the impact of translating these costs from NIS to USD, such costs increased by $11 million primarily as a result of test runs of Tzomet Power
Plant prior to the commencement of commercial operations, which took place in June 2023.
|
• |
OPC (55% interest) – a leading owner, operator and developer of power generation facilities in the Israeli and U.S. power markets;
|
• |
ZIM (21% interest) – an international shipping company; and
|
• |
Qoros (12% interest6) – a China-based automotive company.
|
Kenon Holdings Ltd.
|
|
Deepa Joseph
Chief Financial Officer (Interim)
deepaj@kenon-holdings.com
Tel: +65 9669 4761
|
June 30,
|
December 31,
|
|||||||
2023
|
2022
|
|||||||
$ millions
|
||||||||
Current assets
|
||||||||
Cash and cash equivalents
|
590
|
535
|
||||||
Short-term deposits and restricted cash
|
16
|
46
|
||||||
Trade receivables
|
75
|
74
|
||||||
Short-term derivative instruments
|
4
|
3
|
||||||
Other investments
|
263
|
345
|
||||||
Other current assets
|
50
|
59
|
||||||
Total current assets
|
998
|
1,062
|
||||||
Non-current assets
|
||||||||
Investment in ZIM (associated company)
|
226
|
427
|
||||||
Investment in OPC’s associated companies
|
675
|
652
|
||||||
Long-term restricted cash
|
16
|
15
|
||||||
Long-term derivative instruments
|
17
|
16
|
||||||
Deferred taxes, net
|
6
|
6
|
||||||
Property, plant and equipment, net
|
1,652
|
1,223
|
||||||
Intangible assets, net
|
288
|
221
|
||||||
Long-term prepaid expenses and other non-current assets
|
81
|
51
|
||||||
Right-of-use assets, net
|
132
|
99
|
||||||
Total non-current assets
|
3,093
|
2,710
|
||||||
Total assets
|
4,091
|
3,772
|
||||||
Current liabilities
|
||||||||
Current maturities of loans from banks and others
|
89
|
39
|
||||||
Trade and other payables
|
222
|
134
|
||||||
Short-term derivative instruments
|
1
|
1
|
||||||
Current tax liabilities
|
-
|
1
|
||||||
Deferred taxes
|
-
|
1
|
||||||
Current maturities of lease liabilities
|
17
|
17
|
||||||
Total current liabilities
|
329
|
193
|
||||||
Non-current liabilities
|
||||||||
Long-term loans from banks and others
|
799
|
610
|
||||||
Debentures
|
469
|
513
|
||||||
Deferred taxes, net
|
129
|
98
|
||||||
Other non-current liabilities
|
39
|
42
|
||||||
Long-term lease liabilities
|
57
|
20
|
||||||
Total non-current liabilities
|
1,493
|
1,283
|
||||||
Total liabilities
|
1,822
|
1,476
|
||||||
Equity
|
||||||||
Share capital
|
50
|
50
|
||||||
Translation reserve
|
(5
|
)
|
1
|
|||||
Capital reserve
|
72
|
42
|
||||||
Accumulated profit
|
1,303
|
1,505
|
||||||
Equity attributable to owners of the Company
|
1,420
|
1,598
|
||||||
Non-controlling interests
|
849
|
698
|
||||||
Total equity
|
2,269
|
2,296
|
||||||
Total liabilities and equity
|
4,091
|
3,772
|
For the six months
ended June 30,
|
For the three months
ended June 30,
|
|||||||||||||||
2023
|
2022
|
2023
|
2022
|
|||||||||||||
$ millions
|
$ millions
|
|||||||||||||||
Revenue
|
312
|
267
|
165
|
121
|
||||||||||||
Cost of sales and services (excluding depreciation and amortization)
|
(232
|
)
|
(197
|
)
|
(129
|
)
|
(100
|
)
|
||||||||
Depreciation and amortization
|
(30
|
)
|
(26
|
)
|
(17
|
)
|
(13
|
)
|
||||||||
Gross profit
|
50
|
44
|
19
|
8
|
||||||||||||
Selling, general and administrative expenses
|
(47
|
)
|
(44
|
)
|
(23
|
)
|
(23
|
)
|
||||||||
Other (expenses)/income
|
(1
|
)
|
1
|
(2
|
)
|
-
|
||||||||||
Operating profit/(loss)
|
2
|
1
|
(6
|
)
|
(15
|
)
|
||||||||||
Financing expenses
|
(32
|
)
|
(27
|
)
|
(18
|
)
|
(14
|
)
|
||||||||
Financing income
|
24
|
31
|
11
|
24
|
||||||||||||
Financing (expenses)/income, net
|
(8
|
)
|
4
|
(7
|
)
|
10
|
||||||||||
(Losses)/gains related to ZIM
|
(1
|
)
|
202
|
-
|
(2
|
)
|
||||||||||
Share in (losses)/profit of associated companies, net
|
||||||||||||||||
- ZIM
|
(43
|
)
|
706
|
(31
|
)
|
276
|
||||||||||
- OPC’s associated companies
|
28
|
20
|
4
|
(10
|
)
|
|||||||||||
(Loss)/profit before income taxes
|
(22
|
)
|
933
|
(40
|
)
|
259
|
||||||||||
Income tax (expense)/benefit
|
(10
|
)
|
(19
|
)
|
3
|
(2
|
)
|
|||||||||
(Loss)/profit for the period
|
(32
|
)
|
914
|
(37
|
)
|
257
|
||||||||||
Attributable to:
|
||||||||||||||||
Kenon’s shareholders
|
(37
|
)
|
904
|
(30
|
)
|
265
|
||||||||||
Non-controlling interests
|
5
|
10
|
(7
|
)
|
(8
|
)
|
||||||||||
(Loss)/profit for the period
|
(32
|
)
|
914
|
(37
|
)
|
257
|
||||||||||
Basic/diluted (loss)/profit per share attributable to Kenon’s shareholders (in dollars):
|
||||||||||||||||
Basic/diluted (loss)/profit per share
|
(0.70
|
)
|
16.78
|
(0.56
|
)
|
4.92
|
For the six months
ended June 30,
|
||||||||
2023
|
2022
|
|||||||
$ millions
|
||||||||
Cash flows from operating activities
|
||||||||
(Loss)/profit for the period
|
(32
|
)
|
914
|
|||||
Adjustments:
|
||||||||
Depreciation and amortization
|
38
|
29
|
||||||
Financing expenses/(income), net
|
8
|
(4
|
)
|
|||||
Losses/(gains) related to ZIM
|
1
|
(202
|
)
|
|||||
Share in losses/(profit) of associated companies, net
|
15
|
(726
|
)
|
|||||
Share-based payments
|
5
|
5
|
||||||
Income tax expense
|
10
|
19
|
||||||
45
|
35
|
|||||||
Change in trade and other receivables
|
4
|
(9
|
)
|
|||||
Change in trade and other payables
|
(11
|
)
|
(11
|
)
|
||||
Cash generated from operating activities
|
38
|
15
|
||||||
Income taxes paid, net
|
(1
|
)
|
-
|
|||||
Dividends received from associated companies
|
152
|
545
|
||||||
Net cash provided by operating activities
|
189
|
560
|
For the six months
ended June 30,
|
||||||||
2023
|
2022
|
|||||||
$ millions
|
||||||||
Cash flows from investing activities
|
||||||||
Short-term deposits and restricted cash, net
|
30
|
(10
|
)
|
|||||
Short-term collaterals deposits, net
|
20
|
-
|
||||||
Investment in long-term deposits, net
|
-
|
12
|
||||||
Investment in associated companies, less cash acquired
|
(2
|
)
|
-
|
|||||
Acquisition of subsidiary, less cash acquired
|
(250
|
)
|
-
|
|||||
Acquisition of associated company, less cash acquired
|
-
|
(1
|
)
|
|||||
Acquisition of property, plant and equipment
|
(139
|
)
|
(163
|
)
|
||||
Acquisition of intangible assets
|
(5
|
)
|
(2
|
)
|
||||
Proceeds from sale of interest in ZIM
|
-
|
464
|
||||||
Proceeds from distribution from associated company
|
2
|
3
|
||||||
Proceeds from sale of other investments
|
139
|
248
|
||||||
Purchase of other investments
|
(50
|
)
|
(601
|
)
|
||||
Long-term advance deposits and prepaid expenses
|
(7
|
)
|
(4
|
)
|
||||
Long-term loans to an associate
|
(24
|
)
|
-
|
|||||
Interest received
|
12
|
1
|
||||||
Proceeds from transactions in derivatives, net
|
2
|
-
|
||||||
Net cash used in investing activities
|
(272
|
)
|
(53
|
)
|
||||
Cash flows from financing activities
|
||||||||
Repayment of long-term loans, debentures and lease liabilities
|
(124
|
)
|
(20
|
)
|
||||
Proceed from Veridis transaction
|
129
|
-
|
||||||
Investments of holders of non-controlling interests in the capital of a subsidiary
|
54
|
12
|
||||||
Receipt from long-term loans
|
267
|
84
|
||||||
Proceeds from/(payment) in respect of derivative financial instruments, net
|
1
|
(1
|
)
|
|||||
Repurchase of shares
|
(14
|
)
|
-
|
|||||
Costs paid in advance in respect of taking out of loans
|
(5
|
)
|
(2
|
)
|
||||
Dividends paid
|
(150
|
)
|
(189
|
)
|
||||
Interest paid
|
(16
|
)
|
(13
|
)
|
||||
Net cash provided by/(used in) financing activities
|
142
|
(129
|
)
|
|||||
Increase in cash and cash equivalents
|
59
|
378
|
||||||
Cash and cash equivalents at beginning of the year
|
535
|
475
|
||||||
Effect of exchange rate fluctuations on balances of cash and cash equivalents
|
(4
|
)
|
(16
|
)
|
||||
Cash and cash equivalents at end of the period
|
590
|
837
|
|
For the six months ended June 30, 2023
|
|||||||||||||||||||
OPC Israel
|
CPV Group
|
ZIM
|
Other
|
Consolidated Results
|
||||||||||||||||
|
$ millions | |||||||||||||||||||
Revenue
|
278
|
34
|
-
|
-
|
312
|
|||||||||||||||
Depreciation and amortization
|
(31
|
)
|
(7
|
)
|
-
|
-
|
(38
|
)
|
||||||||||||
Financing income
|
8
|
3
|
-
|
13
|
24
|
|||||||||||||||
Financing expenses
|
(25
|
)
|
(6
|
)
|
-
|
(1
|
)
|
(32
|
)
|
|||||||||||
Loss related to ZIM
|
(1
|
) |
-
|
-
|
(1
|
)
|
-
|
|||||||||||||
Share in profit/(loss) of associated companies
|
-
|
28
|
(43
|
)
|
-
|
(15
|
)
|
|||||||||||||
Profit/(loss) before taxes
|
8
|
7
|
(44
|
)
|
7
|
(22
|
)
|
|||||||||||||
Income tax expense
|
-
|
(3
|
)
|
-
|
(7
|
)
|
(10
|
)
|
||||||||||||
Profit/(loss) for the period
|
8
|
4
|
(44
|
)
|
-
|
(32
|
)
|
|
For the six months ended June 30, 2022
|
|||||||||||||||||||
OPC Israel
|
CPV Group
|
ZIM
|
Other
|
Consolidated Results
|
||||||||||||||||
|
$ millions
|
|||||||||||||||||||
Revenue
|
239
|
28
|
-
|
-
|
267
|
|||||||||||||||
Depreciation and amortization
|
(23
|
)
|
(6
|
)
|
-
|
-
|
(29
|
)
|
||||||||||||
Financing income
|
7
|
22
|
-
|
2
|
31
|
|||||||||||||||
Financing expenses
|
(23
|
)
|
(4
|
)
|
-
|
-
|
(27
|
)
|
||||||||||||
Gains related to ZIM
|
-
|
-
|
202
|
-
|
202
|
|||||||||||||||
Share in profit of associated companies
|
-
|
20
|
706
|
-
|
726
|
|||||||||||||||
Profit/(loss) before taxes
|
5
|
25
|
908
|
(5
|
)
|
933
|
||||||||||||||
Income tax expense
|
(3
|
)
|
(5
|
)
|
-
|
(11
|
)
|
(19
|
)
|
|||||||||||
Profit/(loss) for the period
|
2
|
20
|
908
|
(16
|
)
|
914
|
|
For the three months ended June 30, 2023
|
|||||||||||||||||||
OPC Israel
|
CPV Group
|
ZIM
|
Other
|
Consolidated Results
|
||||||||||||||||
$ millions
|
||||||||||||||||||||
Revenue
|
147
|
18
|
-
|
-
|
165
|
|||||||||||||||
Depreciation and amortization
|
(19
|
)
|
(4
|
)
|
-
|
-
|
(23
|
)
|
||||||||||||
Financing income
|
2
|
1
|
-
|
8
|
11
|
|||||||||||||||
Financing expenses
|
(15
|
)
|
(4
|
)
|
-
|
1
|
(18
|
)
|
||||||||||||
Share in profit/(loss) of associated companies
|
-
|
4
|
(31
|
)
|
-
|
(27
|
)
|
|||||||||||||
(Loss)/profit before taxes
|
(6
|
)
|
(8
|
)
|
(31
|
)
|
5
|
(40
|
)
|
|||||||||||
Income tax benefit
|
2
|
1
|
-
|
-
|
3
|
|||||||||||||||
(Loss)/profit for the period
|
(4
|
)
|
(7
|
)
|
(31
|
)
|
5
|
(37
|
)
|
|
For the three months ended June 30, 2022
|
|||||||||||||||||||
OPC Israel
|
CPV Group
|
ZIM
|
Other
|
Consolidated Results
|
||||||||||||||||
$ millions
|
||||||||||||||||||||
Revenue
|
105
|
16
|
-
|
-
|
121
|
|||||||||||||||
Depreciation and amortization
|
(12
|
)
|
(3
|
)
|
-
|
-
|
(15
|
)
|
||||||||||||
Financing income
|
4
|
19
|
-
|
1
|
24
|
|||||||||||||||
Financing expenses
|
(12
|
)
|
(2
|
)
|
-
|
-
|
(14
|
)
|
||||||||||||
Loss related to ZIM
|
-
|
-
|
(2
|
)
|
-
|
(2
|
)
|
|||||||||||||
Share in (losses)/profit of associated companies
|
-
|
(10
|
)
|
276
|
-
|
266
|
||||||||||||||
(Loss)/profit before taxes
|
(13
|
)
|
2
|
274
|
(4
|
)
|
259
|
|||||||||||||
Income tax benefit/(expense)
|
2
|
(1
|
)
|
-
|
(3
|
)
|
(2
|
)
|
||||||||||||
(Loss)/profit for the period
|
(11
|
)
|
1
|
274
|
(7
|
)
|
257
|
For the six months ended June 30,
|
For the three months ended June 30,
|
|||||||||||||||
2023
|
2022
|
2023
|
2022
|
|||||||||||||
$ millions
|
$ millions
|
|||||||||||||||
Revenue
|
312
|
267
|
165
|
121
|
||||||||||||
Cost of sales (excluding depreciation and amortization)
|
(232
|
)
|
(197
|
)
|
(129
|
)
|
(100
|
)
|
||||||||
Depreciation and amortization
|
(30
|
)
|
(26
|
)
|
(17
|
)
|
(13
|
)
|
||||||||
Gross profit
|
50
|
44
|
19
|
8
|
||||||||||||
Selling, general and administrative expenses
|
(42
|
)
|
(37
|
)
|
(21
|
)
|
(19
|
)
|
||||||||
Other (expenses)/income
|
(1
|
)
|
1
|
-
|
1
|
|||||||||||
Operating profit/(loss)
|
7
|
8
|
(2
|
)
|
(10
|
)
|
||||||||||
Financing expenses
|
(31
|
)
|
(27
|
)
|
(19
|
)
|
(14
|
)
|
||||||||
Financing income
|
11
|
29
|
3
|
23
|
||||||||||||
Financing (expenses)/income, net
|
(20
|
)
|
2
|
(16
|
)
|
9
|
||||||||||
Share in profit/(loss) of associated companies, net
|
28
|
20
|
4
|
(10
|
)
|
|||||||||||
Profit/(loss) before income taxes
|
15
|
30
|
(14
|
)
|
(11
|
)
|
||||||||||
Income tax (expense)/benefit
|
(3
|
)
|
(8
|
)
|
3
|
1
|
||||||||||
Profit/(loss) for the period
|
12
|
22
|
(11
|
)
|
(10
|
)
|
||||||||||
Attributable to:
|
||||||||||||||||
Equity holders of the company
|
11
|
20
|
(6
|
)
|
(4
|
)
|
||||||||||
Non-controlling interest
|
1
|
2
|
(5
|
)
|
(6
|
)
|
||||||||||
Profit/(loss) for the period
|
12
|
22
|
(11
|
)
|
(10
|
)
|
For the six months ended June 30,
|
For the three months ended June 30,
|
|||||||||||||||
2023
|
2022
|
2023
|
2022
|
|||||||||||||
$ millions
|
$ millions
|
|||||||||||||||
Cash flows provided by operating activities
|
45
|
29
|
17
|
2
|
||||||||||||
Cash flows used in investing activities
|
(369
|
)
|
(164
|
)
|
(295
|
)
|
(77
|
)
|
||||||||
Cash flows provided by financing activities
|
307
|
60
|
86
|
22
|
||||||||||||
Decrease in cash and cash equivalents
|
(17
|
)
|
(75
|
)
|
(192
|
)
|
(53
|
)
|
||||||||
Cash and cash equivalents at end of the period
|
221
|
145
|
221
|
145
|
|
As at
|
|||||||
|
June 30, 2023
|
December 31, 2022
|
||||||
|
$ millions
|
|||||||
Total financial liabilities1
|
1,356
|
1,163
|
||||||
Total monetary assets2
|
253
|
287
|
||||||
Investment in associated companies
|
675
|
652
|
||||||
Total equity attributable to the owners
|
1,045
|
997
|
||||||
Total assets
|
3,235
|
2,709
|
1.
|
Including loans from banks and others and debentures
|
2.
|
Including cash and cash equivalents, term deposits and restricted cash
|
For the three months ended June 30,
|
||||||||
|
2023
|
2022
|
||||||
|
$ millions
|
|||||||
Loss for the period
|
(11
|
)
|
(10
|
)
|
||||
Depreciation and amortization
|
23
|
15
|
||||||
Financing expenses/(income), net
|
16
|
(9
|
)
|
|||||
Share of depreciation and amortization and financing expenses, net, included within share of profit/(losses) of associated companies, net
|
20
|
22
|
||||||
Income tax benefit
|
(3
|
)
|
(1
|
)
|
||||
EBITDA
|
45
|
17
|
||||||
Share of changes in fair value of derivative financial instruments
|
(2
|
)
|
9
|
|||||
Changes in net expenses, not in the ordinary course of business and/or of a non-recurring nature
|
3
|
-
|
||||||
Other expenses
|
1
|
-
|
||||||
Adjusted EBITDA
|
47
|
26
|
As at June 30, 2023
|
OPC Energy
|
OPC-Rotem
|
OPC-Hadera
|
OPC-Tzomet
|
CPV Keenan
|
Others
|
Total
|
|||||||||||||||||||||
|
||||||||||||||||||||||||||||
Debt (including accrued interest)
|
1
|
-
|
179
|
286
|
81
|
194
|
741
|
|||||||||||||||||||||
Cash and cash equivalents (including restricted cash used for debt service)
|
11
|
8
|
17
|
14
|
1
|
9
|
60
|
|||||||||||||||||||||
Net debt*
|
(10
|
)
|
(8
|
)
|
162
|
272
|
80
|
185
|
681
|
As at December 31, 2022
|
OPC Energy
|
OPC-Rotem
|
OPC-Hadera
|
OPC-Tzomet
|
CPV Keenan
|
Others
|
Total
|
|||||||||||||||||||||
|
||||||||||||||||||||||||||||
Debt (including accrued interest)
|
527
|
-
|
190
|
237
|
88
|
1
|
1,043
|
|||||||||||||||||||||
Cash and cash equivalents (including restricted cash used for debt service)
|
166
|
7
|
16
|
3
|
1
|
98
|
291
|
|||||||||||||||||||||
Net debt*
|
361
|
(7
|
)
|
174
|
234
|
87
|
(97
|
)
|
752
|
For the three months ended June 30,
|
||||||||
|
2023
|
2022
|
||||||
|
$ millions
|
|||||||
(Loss)/profit for the period
|
(213
|
)
|
1,336
|
|||||
Depreciation and amortization
|
422
|
337
|
||||||
Financing expenses, net
|
104
|
28
|
||||||
Income tax (benefits)/expense
|
(59
|
)
|
400
|
|||||
EBITDA
|
254
|
2,101
|
||||||
Capital loss, beyond the ordinary course of business
|
21
|
-
|
||||||
Adjusted EBITDA
|
275
|
2,101
|
1 Year Kenon Chart |
1 Month Kenon Chart |
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