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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 | |
|---|---|---|---|---|---|---|---|---|
| 0.37 | 1.12% | 33.37 | 33.68 | 33.03 | 33.30 | 23,797 | 01:00:00 |
|
KENON HOLDINGS LTD.
|
|||
|
Date: December 5, 2024
|
By:
|
/s/ Robert L. Rosen
|
|
|
Name:
|
Robert L. Rosen
|
||
|
Title:
|
Chief Executive Officer
|
||
| • |
Kenon has repurchased approximately 348,000 shares for approximately $10 million pursuant to its share repurchase plan since the announcement of its most recent share repurchase mandate in September 2024.
|
| • |
Kenon announced its intention to sell additional shares in ZIM and/or enter into derivative transactions with respect to up to all of its remaining stake in ZIM.
|
| • |
Kenon also announced that it terminated its collar transaction over 5 million ZIM shares and entered into a cash settled capped call arrangement with respect to the same number of ZIM shares and received net cash proceeds of
approximately $93 million.
|
| • |
Financial results:
|
| • |
OPC reported net profit in Q3 2024 of $23 million, as compared to $27 million in Q3 2023. OPC’s Q3 2024 net profit included share in profit of CPV of $17 million as compared to $22 million in Q3 2023.
|
| • |
OPC reported Adjusted EBITDA (including proportionate share in Adjusted EBITDA of associated companies)1 in Q3 2024 of $108 million, as compared to $104 million in Q3 2023.
|
| • |
ZIM announced a cash dividend, to be paid on December 9, 2024, of $3.65 per share, or approximately $440 million in the aggregate, of which approximately $49 million (approximately $47 million net of tax) is payable to Kenon.
|
| • |
Financial results2:
|
| • |
ZIM reported a net profit in Q3 2024 of $1.1 billion, as compared to net loss of $2.3 billion in Q3 2023, which included a non-cash impairment loss of $2.1 billion.
|
| • |
ZIM reported Adjusted EBITDA1 in Q3 2024 of $1.5 billion, as compared to $211 million in Q3 2023.
|
|
For the three months ended
September 30,
|
||||||||
|
2024
|
2023
|
|||||||
|
$ millions
|
||||||||
|
Revenue
|
237
|
229
|
||||||
|
Cost of sales (excluding depreciation and amortization)
|
(157
|
)
|
(151
|
)
|
||||
|
Finance expenses, net
|
(27
|
)
|
(19
|
)
|
||||
|
Share in profit of associated companies, net
|
17
|
22
|
||||||
|
Profit for the period
|
23
|
27
|
||||||
|
Attributable to:
|
||||||||
|
Equity holders of OPC
|
22
|
24
|
||||||
|
Non-controlling interest
|
1
|
3
|
||||||
|
Adjusted EBITDA (including proportionate share in Adjusted EBITDA of associated companies)3
|
108
|
104
|
||||||
|
For the three months ended
September 30,
|
||||||||
|
2024
|
2023
|
|||||||
|
$ millions
|
||||||||
|
Israel
|
205
|
210
|
||||||
|
U.S.
|
32
|
19
|
||||||
|
Total
|
237
|
229
|
||||||
| • |
Revenue from provision of services and other revenue – Such revenues increased by $10 million in Q3 2024 as compared to Q3 2023 primarily due to increase in sales of electricity from renewable
sources to commercial customers;
|
| • |
Revenue from sale of renewable energy in U.S. – Such revenues increased by $3 million primarily due to the consolidation of Maple Hill and Stagecoach starting in Q4 2023 and Q2 2024, respectively;
and
|
| • |
Revenue from capacity payments – Such revenues increased by $3 million in Q3 2024 as compared to Q3 2023, primarily as a result of increase in the availability tariff of Tzomet Power Plant
starting in the beginning of 2024; partially offset by
|
| • |
Revenue from sale of energy to the System Operator and to other suppliers – Such revenues decreased by $4 million in Q3 2024 as compared to Q3 2023 primarily due to decline in sales from Tzomet
to the System Operator.
|
|
For the three months
ended September 30,
|
||||||||
|
2024
|
2023
|
|||||||
|
$ millions
|
||||||||
|
Israel
|
137
|
140
|
||||||
|
U.S.
|
20
|
11
|
||||||
|
Total
|
157
|
151
|
||||||
| • |
Expenses for acquisition of energy in Israel – Increased by $11 million in Q3 2024 as compared to Q3 2023 primarily due to an increase in customer consumption; partially offset by
|
| • |
Natural gas and diesel oil consumption in Israel – Decreased by $12 million in Q3 2024 as compared to Q3 2023. Excluding the impact of translating OPC’s
cost of sales (excluding depreciation and amortization) from NIS to USD, such costs decreased by $11 million primarily due to (i) a decline in sales from Tzomet to the System Operator of $5 million, (ii) decrease of $2 million due to a
decline in gas prices and (iii) unplanned maintenance performed at Gat Power Plant during Q3 2024.
|
|
Kenon Holdings Ltd.
|
|
Deepa Joseph
Chief Financial Officer
deepaj@kenon-holdings.com
Tel: +65 6351 1780
|
|
September 30,
|
December 31,
|
|||||||
|
2024
|
2023
|
|||||||
|
$ millions
|
||||||||
|
Current assets
|
||||||||
|
Cash and cash equivalents
|
615
|
697
|
||||||
|
Short-term deposits and restricted cash
|
2
|
1
|
||||||
|
Trade receivables
|
97
|
68
|
||||||
|
Short-term derivative instruments
|
1
|
3
|
||||||
|
Other investments
|
156
|
216
|
||||||
|
Other current assets
|
40
|
111
|
||||||
|
Total current assets
|
911
|
1,096
|
||||||
|
Non-current assets
|
||||||||
|
Investment in ZIM (associated company)
|
29
|
-
|
||||||
|
Investment in OPC’s associated companies
|
664
|
703
|
||||||
|
Long-term restricted cash
|
15
|
16
|
||||||
|
Long-term derivative instruments
|
15
|
14
|
||||||
|
Deferred taxes, net
|
9
|
16
|
||||||
|
Property, plant and equipment, net
|
1,894
|
1,715
|
||||||
|
Intangible assets, net
|
307
|
321
|
||||||
|
Long-term prepaid expenses and other non-current assets
|
53
|
52
|
||||||
|
Right-of-use assets, net
|
214
|
175
|
||||||
|
Total non-current assets
|
3,200
|
3,012
|
||||||
|
Total assets
|
4,111
|
4,108
|
||||||
|
Current liabilities
|
||||||||
|
Current maturities of loans from banks and others
|
103
|
170
|
||||||
|
Trade and other payables
|
129
|
182
|
||||||
|
Short-term derivative instruments
|
2
|
2
|
||||||
|
Current maturities of lease liabilities
|
7
|
5
|
||||||
|
Total current liabilities
|
241
|
359
|
||||||
|
Non-current liabilities
|
||||||||
|
Long-term loans from banks and others
|
919
|
906
|
||||||
|
Debentures
|
448
|
454
|
||||||
|
Deferred taxes, net
|
138
|
137
|
||||||
|
Other non-current liabilities
|
152
|
110
|
||||||
|
Long-term derivative instruments
|
26
|
16
|
||||||
|
Long-term lease liabilities
|
54
|
56
|
||||||
|
Total non-current liabilities
|
1,737
|
1,679
|
||||||
|
Total liabilities
|
1,978
|
2,038
|
||||||
|
Equity
|
||||||||
|
Share capital
|
50
|
50
|
||||||
|
Translation reserve
|
(10
|
)
|
(4
|
)
|
||||
|
Capital reserve
|
73
|
70
|
||||||
|
Accumulated profit
|
1,051
|
1,087
|
||||||
|
Equity attributable to owners of the Company
|
1,164
|
1,203
|
||||||
|
Non-controlling interests
|
969
|
867
|
||||||
|
Total equity
|
2,133
|
2,070
|
||||||
|
Total liabilities and equity
|
4,111
|
4,108
|
||||||
|
For the nine months
ended September 30,
|
For the three months
ended September 30,
|
|||||||||||||||
|
2024
|
2023
|
2024
|
2023
|
|||||||||||||
|
$ millions
|
$ millions
|
|||||||||||||||
|
Revenue
|
592
|
541
|
237
|
229
|
||||||||||||
|
Cost of sales and services (excluding depreciation and amortization)
|
(403
|
)
|
(382
|
)
|
(157
|
)
|
(151
|
)
|
||||||||
|
Depreciation and amortization
|
(66
|
)
|
(57
|
)
|
(24
|
)
|
(25
|
)
|
||||||||
|
Gross profit
|
123
|
102
|
56
|
53
|
||||||||||||
|
Selling, general and administrative expenses
|
(67
|
)
|
(71
|
)
|
(25
|
)
|
(25
|
)
|
||||||||
|
Other (expenses)/income, net
|
(3
|
)
|
3
|
6
|
4
|
|||||||||||
|
Operating profit
|
53
|
34
|
37
|
32
|
||||||||||||
|
Financing expenses
|
(104
|
)
|
(55
|
)
|
(52
|
)
|
(23
|
)
|
||||||||
|
Financing income
|
38
|
35
|
18
|
11
|
||||||||||||
|
Financing expenses, net
|
(66
|
)
|
(20
|
)
|
(34
|
)
|
(12
|
)
|
||||||||
|
Gains/(losses) related to ZIM
|
111
|
(1
|
)
|
-
|
-
|
|||||||||||
|
Dividend income
|
6
|
-
|
-
|
-
|
||||||||||||
|
Share in profit/(losses) of associated companies, net
|
||||||||||||||||
|
- ZIM
|
40
|
(266
|
)
|
40
|
(223
|
)
|
||||||||||
|
- OPC’s associated companies
|
41
|
49
|
17
|
22
|
||||||||||||
|
Profit/(loss) before income taxes
|
185
|
(204
|
)
|
60
|
(181
|
)
|
||||||||||
|
Income tax expense
|
(14
|
)
|
(19
|
)
|
(6
|
)
|
(9
|
)
|
||||||||
|
Profit/(loss) for the period
|
171
|
(223
|
)
|
54
|
(190
|
)
|
||||||||||
|
Attributable to:
|
||||||||||||||||
|
Kenon’s shareholders
|
163
|
(243
|
)
|
43
|
(205
|
)
|
||||||||||
|
Non-controlling interests
|
8
|
20
|
11
|
15
|
||||||||||||
|
Profit/(loss) for the period
|
171
|
(223
|
)
|
54
|
190
|
|||||||||||
|
Basic/diluted profit/(loss) per share attributable to Kenon’s shareholders (in dollars):
|
||||||||||||||||
|
Basic/diluted profit/(loss) per share
|
3.09
|
(4.53
|
)
|
0.81
|
(3.83
|
)
|
||||||||||
|
For the nine months
ended September 30,
|
||||||||
|
2024
|
2023
|
|||||||
|
$ millions
|
||||||||
|
Cash flows from operating activities
|
||||||||
|
Profit/(loss) for the period
|
171
|
(223
|
)
|
|||||
|
Adjustments:
|
||||||||
|
Depreciation and amortization
|
72
|
66
|
||||||
|
Financing expenses, net
|
66
|
20
|
||||||
|
(Gains)/loss related to ZIM
|
(111
|
)
|
1
|
|||||
|
Share in (profit)/losses of associated companies, net
|
(81
|
)
|
217
|
|||||
|
Share-based payments
|
7
|
7
|
||||||
|
Other expenses, net
|
8
|
(5
|
)
|
|||||
|
Income tax expense
|
14
|
19
|
||||||
|
146
|
102
|
|||||||
|
Change in trade and other receivables
|
(48
|
)
|
30
|
|||||
|
Change in trade and other payables
|
41
|
(18
|
)
|
|||||
|
Cash generated from operating activities
|
139
|
114
|
||||||
|
Income taxes paid, net
|
(1
|
)
|
(2
|
)
|
||||
|
Dividend received from associate companies
|
||||||||
|
- ZIM
|
20
|
151
|
||||||
|
- OPC’s associated companies
|
55
|
2
|
||||||
|
Net cash provided by operating activities
|
213
|
265
|
||||||
|
For the nine months
ended September 30,
|
||||||||
|
2024
|
2023
|
|||||||
|
$ millions
|
||||||||
|
Cash flows from investing activities
|
||||||||
|
Short-term deposits and restricted cash, net
|
(2
|
)
|
30
|
|||||
|
Short-term collaterals deposits, net
|
3
|
30
|
||||||
|
Investment in long-term deposits, net
|
1
|
-
|
||||||
|
Investment in associated companies, less cash acquired
|
(10
|
)
|
(7
|
)
|
||||
|
Acquisition of subsidiary, less cash acquired
|
-
|
(248
|
)
|
|||||
|
Acquisition of property, plant and equipment
|
(325
|
)
|
(199
|
)
|
||||
|
Acquisition of intangible assets
|
-
|
(7
|
)
|
|||||
|
Proceeds from sale of interest in ZIM
|
111
|
-
|
||||||
|
Proceeds from distribution from associated company
|
26
|
3
|
||||||
|
Proceeds from sale of other investments
|
68
|
169
|
||||||
|
Proceeds from sale of subsidiary
|
2
|
-
|
||||||
|
Purchase of other investments
|
-
|
(50
|
)
|
|||||
|
Long-term advance deposits
|
-
|
(34
|
)
|
|||||
|
Long-term loans to an associate
|
-
|
(24
|
)
|
|||||
|
Interest received
|
20
|
20
|
||||||
|
Proceeds from transactions in derivatives, net
|
1
|
3
|
||||||
|
Net cash used in investing activities
|
(105
|
)
|
(314
|
)
|
||||
|
Cash flows from financing activities
|
||||||||
|
Repayment of long-term loans, debentures and lease liabilities
|
(545
|
)
|
(145
|
)
|
||||
|
Short-term loans from banking corporations, net
|
(53
|
)
|
8
|
|||||
|
Proceed from Veridis transaction
|
-
|
129
|
||||||
|
Proceeds from issuance of share capital by a subsidiary to non-controlling interests,
net of issuance expenses
|
108
|
-
|
||||||
|
Investments of holders of non-controlling interests in the capital of a subsidiary
|
-
|
64
|
||||||
|
Tax equity investment
|
41
|
-
|
||||||
|
Proceeds from issuance of debentures, less issuance expenses
|
52
|
-
|
||||||
|
Proceeds from long-term loans
|
460
|
322
|
||||||
|
Proceeds from derivative financial instruments, net
|
3
|
2
|
||||||
|
Repurchase of shares
|
(2
|
)
|
(25
|
)
|
||||
|
Costs paid in advance in respect of taking out of loans
|
-
|
(19
|
)
|
|||||
|
Dividend paid
|
(201
|
)
|
(150
|
)
|
||||
|
Interest paid
|
(53
|
)
|
(28
|
)
|
||||
|
Net cash (used in)/provided by financing activities
|
(190
|
)
|
158
|
|||||
|
(Decrease)/increase in cash and cash equivalents
|
(82
|
)
|
109
|
|||||
|
Cash and cash equivalents at beginning of the year
|
697
|
535
|
||||||
|
Effect of exchange rate fluctuations on balances of cash and cash equivalents
|
-
|
(11
|
)
|
|||||
|
Cash and cash equivalents at end of the period
|
615
|
633
|
||||||
|
|
For the nine months
ended September 30, 2024
|
|||||||||||||||||||
|
OPC Israel
|
CPV Group
|
ZIM
|
Other
|
Consolidated Results
|
||||||||||||||||
|
$ millions
|
||||||||||||||||||||
|
Revenue
|
496
|
96
|
-
|
-
|
592
|
|||||||||||||||
|
Depreciation and amortization
|
(52
|
)
|
(20
|
)
|
-
|
-
|
(72
|
)
|
||||||||||||
|
Financing income
|
17
|
3
|
-
|
18
|
38
|
|||||||||||||||
|
Financing expenses
|
(63
|
)
|
(24
|
)
|
-
|
(17
|
)
|
(104
|
)
|
|||||||||||
|
Gains related to ZIM
|
-
|
-
|
111
|
-
|
111
|
|||||||||||||||
|
Share in profit of associated companies
|
-
|
41
|
40
|
-
|
81
|
|||||||||||||||
|
Profit/(loss) before taxes
|
34
|
(1
|
)
|
151
|
1
|
185
|
||||||||||||||
|
Income tax (expense)/benefits
|
(15
|
)
|
2
|
-
|
(1
|
)
|
(14
|
)
|
||||||||||||
|
Profit for the period
|
19
|
1
|
151
|
-
|
171
|
|||||||||||||||
|
|
For the nine months
ended September 30, 2023
|
|||||||||||||||||||
|
OPC Israel
|
CPV Group
|
ZIM
|
Other
|
Consolidated Results
|
||||||||||||||||
|
$ millions
|
||||||||||||||||||||
|
Revenue
|
488
|
53
|
-
|
-
|
541
|
|||||||||||||||
|
Depreciation and amortization
|
(50
|
)
|
(16
|
)
|
-
|
-
|
(66
|
)
|
||||||||||||
|
Financing income
|
10
|
5
|
-
|
20
|
35
|
|||||||||||||||
|
Financing expenses
|
(44
|
)
|
(10
|
)
|
-
|
(1
|
)
|
(55
|
)
|
|||||||||||
|
Loss related to ZIM
|
-
|
-
|
(1
|
)
|
-
|
(1
|
)
|
|||||||||||||
|
Share in profit of associated companies
|
-
|
49
|
(266
|
)
|
-
|
(217
|
)
|
|||||||||||||
|
Profit/(loss) before taxes
|
33
|
18
|
(267
|
)
|
12
|
(204
|
)
|
|||||||||||||
|
Income tax expense
|
(5
|
)
|
(6
|
)
|
-
|
(8
|
)
|
(19
|
)
|
|||||||||||
|
Profit/(loss) for the period
|
28
|
12
|
(267
|
)
|
4
|
(223
|
)
|
|||||||||||||
|
|
For the three months
ended September 30, 2024
|
|||||||||||||||||||
|
OPC Israel
|
CPV Group
|
ZIM
|
Other
|
Consolidated Results
|
||||||||||||||||
|
$ millions
|
||||||||||||||||||||
|
Revenue
|
205
|
32
|
-
|
-
|
237
|
|||||||||||||||
|
Depreciation and amortization
|
(19
|
)
|
(7
|
)
|
-
|
-
|
26
|
|||||||||||||
|
Financing income
|
12
|
1
|
-
|
5
|
18
|
|||||||||||||||
|
Financing expenses
|
(31
|
)
|
(9
|
)
|
-
|
(12
|
)
|
(52
|
)
|
|||||||||||
|
Share in profit of associated companies
|
-
|
17
|
40
|
-
|
57
|
|||||||||||||||
|
Profit/(loss) before taxes
|
31
|
(2
|
)
|
40
|
(9
|
)
|
60
|
|||||||||||||
|
Income tax (expense)/benefits
|
(8
|
)
|
2
|
-
|
-
|
(6
|
)
|
|||||||||||||
|
Profit/(loss) for the period
|
23
|
-
|
40
|
(9
|
)
|
54
|
||||||||||||||
|
|
For the three months
ended September 30, 2023
|
|||||||||||||||||||
|
OPC Israel
|
CPV Group
|
ZIM
|
Other
|
Consolidated Results
|
||||||||||||||||
|
$ millions
|
||||||||||||||||||||
|
Revenue
|
210
|
19
|
-
|
-
|
229
|
|||||||||||||||
|
Depreciation and amortization
|
(20
|
)
|
(8
|
)
|
-
|
-
|
28
|
|||||||||||||
|
Financing income
|
2
|
2
|
-
|
7
|
11
|
|||||||||||||||
|
Financing expenses
|
(19
|
)
|
(4
|
)
|
-
|
-
|
(23
|
)
|
||||||||||||
|
Share in profit of associated companies
|
-
|
22
|
(223
|
)
|
-
|
(201
|
)
|
|||||||||||||
|
(Loss)/profit before taxes
|
25
|
11
|
(223
|
)
|
6
|
(181
|
)
|
|||||||||||||
|
Income tax expense
|
(5
|
)
|
(4
|
)
|
-
|
-
|
(9
|
)
|
||||||||||||
|
(Loss)/profit for the period
|
20
|
7
|
(223
|
)
|
6
|
(190
|
)
|
|||||||||||||
|
For the nine months
ended September 30,
|
For the three months
ended September 30,
|
|||||||||||||||
|
2024
|
2023
|
2024
|
2023
|
|||||||||||||
|
$ millions
|
$ millions
|
|||||||||||||||
|
Revenue
|
592
|
541
|
237
|
229
|
||||||||||||
|
Cost of sales (excluding depreciation and amortization)
|
(403
|
)
|
(382
|
)
|
(157
|
)
|
(151
|
)
|
||||||||
|
Depreciation and amortization
|
(66
|
)
|
(56
|
)
|
(24
|
)
|
(25
|
)
|
||||||||
|
Gross profit
|
123
|
103
|
56
|
53
|
||||||||||||
|
Selling, general and administrative expenses
|
(62
|
)
|
(64
|
)
|
(22
|
)
|
(23
|
)
|
||||||||
|
Other (expenses)/income
|
(2
|
)
|
2
|
5
|
3
|
|||||||||||
|
Operating profit
|
59
|
41
|
39
|
33
|
||||||||||||
|
Financing expenses
|
(87
|
)
|
(54
|
)
|
(40
|
)
|
(23
|
)
|
||||||||
|
Financing income
|
20
|
15
|
13
|
4
|
||||||||||||
|
Financing expenses, net
|
(67
|
)
|
(39
|
)
|
(27
|
)
|
(19
|
)
|
||||||||
|
Share in profit of associated companies, net
|
41
|
49
|
17
|
22
|
||||||||||||
|
Profit before income taxes
|
33
|
51
|
29
|
36
|
||||||||||||
|
Income tax expense
|
(13
|
)
|
(11
|
)
|
(6
|
)
|
(9
|
)
|
||||||||
|
Profit for the period
|
20
|
40
|
23
|
27
|
||||||||||||
|
Attributable to:
|
||||||||||||||||
|
Equity holders of the company
|
23
|
35
|
22
|
24
|
||||||||||||
|
Non-controlling interest
|
(3
|
)
|
5
|
1
|
3
|
|||||||||||
|
Profit for the period
|
20
|
40
|
23
|
27
|
||||||||||||
|
|
For the nine months
ended September 30,
|
For the three months
ended September 30,
|
||||||||||||||
|
2024
|
2023
|
2024
|
2023
|
|||||||||||||
|
$ millions
|
$ millions
|
|||||||||||||||
|
Cash flows provided by operating activities
|
201
|
121
|
112
|
76
|
||||||||||||
|
Cash flows used in investing activities
|
(297
|
)
|
(445
|
)
|
(158
|
)
|
(76
|
)
|
||||||||
|
Cash flows provided by financing activities
|
128
|
333
|
162
|
26
|
||||||||||||
|
Increase in cash and cash equivalents
|
32
|
9
|
116
|
26
|
||||||||||||
|
Cash and cash equivalents at end of the period
|
310
|
239
|
310
|
239
|
||||||||||||
|
|
As at
|
|||||||
|
|
September 30, 2024
|
December 31, 2023
|
||||||
|
|
$ millions
|
|||||||
|
Total financial liabilities1
|
1,470
|
1,530
|
||||||
|
Total monetary assets2
|
328
|
278
|
||||||
|
Investment in associated companies
|
664
|
703
|
||||||
|
Total equity attributable to the owners
|
1,284
|
1,061
|
||||||
|
Total assets
|
3,627
|
3,479
|
||||||
|
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 September 30,
|
||||||||
|
|
2024
|
2023
|
||||||
|
|
$ millions
|
|||||||
|
Profit for the period
|
23
|
27
|
||||||
|
Depreciation and amortization
|
26
|
28
|
||||||
|
Financing expenses, net
|
27
|
19
|
||||||
|
Share of depreciation and amortization and financing expenses, net, included within share of profit of associated companies, net
|
27
|
24
|
||||||
|
Income tax expense
|
6
|
9
|
||||||
|
Share of changes in fair value of derivative financial instruments
|
109
|
107
|
||||||
|
Changes in net expenses, not in the ordinary course of business and/or of a non-recurring nature
|
(1
|
)
|
-
|
|||||
|
Other income
|
-
|
(3
|
)
|
|||||
|
Adjusted EBITDA (including proportionate share in EBITDA of associated companies)
|
108
|
104
|
||||||
|
As at September 30, 2024
|
OPC Energy
|
OPC-Hadera
|
CPV Keenan
|
Others
|
Total
|
|||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||
|
Debt (including accrued interest)
|
447
|
161
|
70
|
159
|
837
|
|||||||||||||||||||||||||||
|
Cash and cash equivalents (including restricted cash used for debt service)
|
7
|
22
|
-
|
21
|
50
|
|||||||||||||||||||||||||||
|
Derivative financial instruments for hedging principal and/or interest
|
-
|
12
|
4
|
(3
|
)
|
13
|
||||||||||||||||||||||||||
|
Net debt*
|
440
|
127
|
66
|
141
|
774
|
|||||||||||||||||||||||||||
|
As at December 31, 2023
|
OPC Energy
|
OPC-Rotem
|
OPC-Hadera
|
OPC-Tzomet
|
OPC-Gat
|
CPV Keenan
|
Others
|
Total
|
||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||
|
Debt (including accrued interest)
|
56
|
-
|
177
|
306
|
120
|
79
|
161
|
899
|
||||||||||||||||||||||||
|
Cash and cash equivalents (including restricted cash used for debt service)
|
44
|
2
|
27
|
26
|
3
|
-
|
93
|
195
|
||||||||||||||||||||||||
|
Derivative financial instruments for hedging principal and/or interest
|
-
|
-
|
10
|
-
|
-
|
5
|
(1
|
)
|
14
|
|||||||||||||||||||||||
|
Net debt*
|
12
|
(2
|
)
|
140
|
280
|
116
|
73
|
69
|
688
|
|||||||||||||||||||||||
|
For the three months
ended September 30,
|
||||||||
|
|
2024
|
2023
|
||||||
|
|
$ millions
|
|||||||
|
Profit/(loss) for the period
|
1,126
|
(2,270
|
)
|
|||||
|
Depreciation and amortization
|
295
|
424
|
||||||
|
Financing expenses, net
|
102
|
66
|
||||||
|
Income taxes
|
7
|
(71
|
)
|
|||||
|
EBITDA
|
1,530
|
(1,852
|
)
|
|||||
|
Capital gain, beyond the ordinary course of business
|
(2
|
)
|
-
|
|||||
|
Impairment of assets
|
-
|
2,063
|
||||||
|
Expenses related to legal contingencies
|
3
|
-
|
||||||
|
Adjusted EBITDA
|
1,531
|
211
|
||||||
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