July 3, 2022

Ztrdam

Good Business

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

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Delek Group (TASE: DLEKG), controlled by Yitzhak Tshuva, has unveiled final results for 2021 exhibiting restoration following the extreme crisis that it went by means of in 2020. The enterprise posted a net profit of NIS 1.43 billion past yr, which compares with a web loss of NIS 1.82 billion in 2020.

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Ongoing superior performance of the group’s core oil and gas manufacturing assets led to a 19.5% increase in profits to NIS 8 billion in 2021. The outcomes were being also favorably impacted by a 15.7% drop in finance expenditures to NIS 1.93 billion.

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Delek Team has a sector cap of NIS 8.2 billion, after a 184% rise in its share value on the previous 12 months in response to the advancement in the firm’s organization and the jump in oil price ranges. Shareholders’ equity at the close 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, income totaled NIS 2.26 billion, which compares with NIS 1.63 billion in the corresponding quarter of 2020. Net financial gain in the fourth quarter was NIS 628 million. This compares with a web profit of NIS 1.1 billion in the fourth quarter of 2020. That quarter’s effects were being affected by a a person-time attain of NIS 900 million resulting from the reversal of a compose-down of the oil and fuel belongings of subsidiary Ithaca Electricity.

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Delek Group’s share cost is up 3.45% on the Tel Aviv Stock Exchange this early morning.

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Printed by Globes, Israel business news – en.globes.co.il – on March 30, 2022.

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

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