GCA Financial Targets for Government Companies
Income Statement
(NIS millions)
(NIS millions)
Revenues
12/31/2020
23,778
For the years:
חברת החשמל
Israel Electric
12/31/2021
12/31/2022
22,150
23,105
Cost of operating the electricity system
Fuels
6,220
5,875
9,561
Purchases of electricity
5,269
6,872
5,933
Operation of the generation system
4,143
4,086
4,094
Operation of the transmission and distribution system and others
2,849
2,740
2,840
Total costs
18,481
19,573
22,428
Profit from operating the electricity system
5,297
2,577
677
Other expenses (revenues), net
(2,816)
15
(1,405)
Sales and marketing expenses
886
853
819
Administrative and general expenses
971
782
856
Income from liabilities to pensioners
(24)
(47)
(148)
Reform agreement and other agreements results
708
348
212
Profit from current operations
5,572
626
343
Financial expenses, net
511
1,912
1,356
Profit (loss) before income taxes
5,061
(1,286)
(1,013)
Expenses (income) from taxes on income
1,189
(266)
(226)
Profit (loss) after income taxes
3,872
(1,020)
(787)
Company's share of the profit (loss) of asociated companies
(6)
(9)
Profit (loss) before regulatory deferral accounts
3,866
Movement in regulatory deferral accounts balances, net of tax
(2,163)
(1,029)
2,314
(787)
2,561
Profit for the year
1,703
1,285
1,774
Profit (loss) with respect to cash flow hedging, net of tax
Remeasurement of a defined benefit plan, net of tax
147
(74)
60
486
776
1,693
Movement in balances of regulatory deferral accounts balances, I
Comprehensive income for the year
(58)
110
(181)
2,278
2,097
3,346
Source: IEC's Financial Statements for 2022FY
Investor Relations
39View entire presentation