Delek Group’s year of recovery ends on NIS 1.43b profit

Stahlman

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Delek Group (TASE: DLEKG), managed by Yitzhak Tshuva, has unveiled outcomes for 2021 exhibiting recovery immediately after the intense crisis that it went as a result of in 2020. The corporation posted a web profit of NIS 1.43 billion last calendar year, which compares with a internet reduction of NIS 1.82 billion in 2020.

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Continued superior functionality of the group’s main oil and gas production property led to a 19.5% rise in profits to NIS 8 billion in 2021. The outcomes ended up also favorably impacted by a 15.7% drop in finance expenses to NIS 1.93 billion.

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Delek Team has a current market cap of NIS 8.2 billion, following a 184% rise in its share price on the previous 12 months in reaction to the enhancement in the company’s small business and the soar in oil rates. Shareholders’ equity at the end of 2021 was NIS 2.6 billion, up from NIS 2.1 billion at the conclusion of 2020.

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In the fourth quarter of 2021, revenue totaled NIS 2.26 billion, which compares with NIS 1.63 billion in the corresponding quarter of 2020. Internet financial gain in the fourth quarter was NIS 628 million. This compares with a net income of NIS 1.1 billion in the fourth quarter of 2020. That quarter’s effects were being afflicted by a just one-time gain of NIS 900 million ensuing from the reversal of a write-down of the oil and fuel assets of subsidiary Ithaca Strength.

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Delek Group’s share rate is up 3.45% on the Tel Aviv Inventory Trade this morning.

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Revealed by Globes, Israel business information – en.globes.co.il – on March 30, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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