Delek Group’s year of recovery ends on NIS 1.43b profit
Delek Group (TASE: DLEKG), managed by Yitzhak Tshuva, has launched final results for 2021 demonstrating recovery soon after the serious disaster that it went by means of in 2020. The business posted a net earnings of NIS 1.43 billion last calendar year, which compares with a web reduction of NIS 1.82 billion in 2020.

Ongoing superior efficiency of the group’s main oil and gasoline creation assets led to a 19.5% increase in profits to NIS 8 billion in 2021. The results have been also favorably impacted by a 15.7% fall in finance expenses to NIS 1.93 billion.




Connected Content













Delek Group has a current market cap of NIS 8.2 billion, immediately after a 184% increase in its share price on the earlier calendar year in reaction to the enhancement in the firm’s small business and the bounce in oil price ranges. Shareholders’ equity at the close of 2021 was NIS 2.6 billion, up from NIS 2.1 billion at the conclude of 2020.

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 earnings in the fourth quarter was NIS 628 million. This compares with a internet gain of NIS 1.1 billion in the fourth quarter of 2020. That quarter’s outcomes were being affected by a a single-time acquire of NIS 900 million ensuing from the reversal of a create-down of the oil and fuel property of subsidiary Ithaca Electrical power.

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

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

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