GCA Financial Targets for Government Companies
Key Financial Highlights - FY2022
Revenues
CAPEX
Net Financial
Debt(1)
חברת החשמל
Israel Electric
EBITDA (2)
NIS 23.1 billion
$6.9
NIS 5.5 billion
$1.6
NIS 34.7 billion
$10.3
NIS 6.4 billion
$1.9
IEC Global
Baa1 Stable (Moody's)
BBB+ Stable (S&P)
Credit Ratings
IEC Local
Aa1.il Stable (Midroog)
ilAAA Stable (Maalot S&P)
Source: IEC's Financial Statements for FY2022
1.
2.
Net financial debt is a non-GAAP measure that is defined as credit from banks and other credit providers, plus total long-term debt (including debentures, long-term liabilities to banks, including hedge
transactions, liabilities to the State of Israel), leases liabilities and CPI linkage differentials regulatory deferral account, cash and cash equivalents, short-term investments, long and short term receivables in
respect of forward contracts and swap transactions, and long-term deposits to secure swap transactions.
IEC defines "EBITDA" as a Normalized EBITDA - profit (loss) before income taxes, financial expenses, depreciation and amortization, including movement in regulatory deferral accounts, while neutralizing
special non-current events
Financial Figures presented in USD according to an average USD/NIS exchange rate of 3.36 as of FY2022
Investor Relations
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