GCA Financial Targets for Government Companies
Financial Highlights
Revenues
(NIS bn)
(NIS bn)
$6.6
$7.0
$7.0
$6.9
$6.9
23.6
24.7
23.8
22.2
23.1
2018
2019
2020
2021
חברת החשמל
EBITDA (1)
Israel Electric
$2.2
$2.2
$2.2
$2.3
$1.9
8.0
7.9
7.5
7.5
6.4
2022
2018
2019
Historical Investments by segments (CAPEX) (2)
2020
2021
2022
Net Financial Debt (4)/EBITDA
(NIS bn)
$1.7
$1.9
$1.5
$1.6
5.9
6.0
5.5
$1.0
5.1
0.5
5.5x
4.8x
0.5
1.8
3.7
1.7
4.4x
4.3x
1.5
4.0x
1.9
1.1
1.5
1.4
1.3
1.3
5.5x
0.9
4.8x
4.4x
2.9
2.2
2.4
4.0x
4.3x
1.8
1.3
(3)
2018
2019
2020
2021
2022
Assets and Liablities which which wasn't directly callsified
2018
2019
2020
2021
2022
Supply
System Manager
Others
Distribution
Transmission
Generation
Source: IEC's Financial Statements for 2018FY-2022FY
1.
2.
3.
4.
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.
CAPEX before re-measurements and reform costs.
CAPEX also include non-cash adjustments in 2019 in accordance with IFRS 16 (Leases) in the sum of appx, Nis 1.4 billon.
IEC defines "net financial debt" as credit from banks and other credit providers, total long-term debt (including debentures, long-term liabilities to banks, including hedge transactions, lease liabilities, debentures to the State of Israel and liabilities to the state of Israel), less
cash and cash equivalents, short-term investments and other receivables (including receivables for forward contracts and swap transactions, MTM and long-term deposits and regulatory deferral account assets with respect to linkage differentials)
Financial Figures denote USD figures at USD/NIS average exchange rate of 3.60, 3.56, 3.44, 3.23, 3.36 for 2018FY, 2019FY, 2020FY, 2021FY and for 2022FY respectively
Investor Relations
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