GCA Financial Targets for Government Companies
Key Financial Targets until end of reform in 2025
Ratios
Real net financial debt ratio to
normalized EBITDA
Total debt to total assets ratio
(leverage)
International rating
חברת החשמל
Israel Electric
As of 12/31/2022
2025
4.3
5.45
Mid-target of 5.4 in 2023
67%
65%
At least 'BBB'
2023 Maximum NIS
36.5 billion
+BBB
Real net financial debt
Liquidity (safety cushion)
2025 Maximum NIS
31 billion
NIS 34.7 billion
Subject to meet the financial
targets listed above regarding
debt ratios
Minimum NIS 3 billion Composed of
balance of cash and short-term
deposits will be no less than NIS 1.5
billion and unused secured credit
lines valid for a period exceeding
one year up to NIS 1.5 billion.
The Company complies with
the objective
Source: IEC's Financial Statements for FY2022
Note: The financial targets approved by the Board of Directors On December 13-15, 2022 until the end of the reform period by the year 2025. Mid-targets for 2023 have been updated due to the publication of a new tariff base for the
generation segment and due to the annual update for 2023, which includes the deployment of consumer debt to the company for the impact of coal prices over three years and the decrease in the return rate in the generation segment
Investor Relations
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