July 6, 2022

Y M L P-298

It Must Be Business

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

2 min read

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Delek Team (TASE: DLEKG), managed by Yitzhak Tshuva, has produced success for 2021 exhibiting recovery right after the intense disaster that it went through in 2020. The business posted a internet financial gain of NIS 1.43 billion previous 12 months, which compares with a net decline of NIS 1.82 billion in 2020.

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Continued fantastic functionality of the group’s main oil and gasoline manufacturing property led to a 19.5% rise in earnings to NIS 8 billion in 2021. The benefits were also favorably impacted by a 15.7% tumble in finance charges to NIS 1.93 billion.

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Delek Group has a industry cap of NIS 8.2 billion, soon after a 184% increase in its share value on the previous year in response to the improvement in the company’s business and the bounce in oil charges. Shareholders’ fairness at the conclusion of 2021 was NIS 2.6 billion, up from NIS 2.1 billion at the conclude of 2020.

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In the fourth quarter of 2021, earnings totaled NIS 2.26 billion, which compares with NIS 1.63 billion in the corresponding quarter of 2020. Web financial gain in the fourth quarter was NIS 628 million. This compares with a internet income of NIS 1.1 billion in the fourth quarter of 2020. That quarter’s success were influenced by a a single-time acquire of NIS 900 million ensuing from the reversal of a write-down of the oil and gasoline belongings of subsidiary Ithaca Electricity.

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

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Released by Globes, Israel company 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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