Delek Group’s year of recovery ends on NIS 1.43b profit
Delek Group (TASE: DLEKG), controlled by Yitzhak Tshuva, has released success for 2021 exhibiting recovery after the severe disaster that it went through in 2020. The enterprise posted a internet gain of NIS 1.43 billion last calendar year, which compares with a internet loss of NIS 1.82 billion in 2020.

Continued good effectiveness of the group’s main oil and gasoline creation property led to a 19.5% rise in profits to NIS 8 billion in 2021. The effects were being also favorably impacted by a 15.7% drop in finance fees to NIS 1.93 billion.




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Delek Group has a market place cap of NIS 8.2 billion, right after a 184% rise in its share price tag on the earlier 12 months in response to the advancement in the company’s enterprise and the bounce in oil rates. Shareholders’ equity at the conclusion of 2021 was NIS 2.6 billion, up from NIS 2.1 billion at the conclude of 2020.

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 profit 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 benefits were being influenced by a a single-time attain of NIS 900 million resulting from the reversal of a generate-down of the oil and gasoline assets of subsidiary Ithaca Power.

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

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

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