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Investor Presentaiton

Historical Cash Flow NIS bn 12 $1.7 $1.9 $2.0 $1.7 $1.5 8 6.5 6.3 5.7 6.5 6.5 6.5 5.8 5.8 5.6 5.6 4 $0.2 0.6 חברת החשמל Israel Electric 0 (1.3) (2.2) (4) (2.7) (2.7) (3.7) (3.1) (3.3) ($0.4) ($0.6) ($0.8) (4.8) ($0.7) ($0.8) ($1.1) ($0.9) (6.3) (8) ($1.4) ($2.0) (12) 2016 2017 2018 2019 2020 (1) (2) Operating activities Investment activities, net Financing activities - Total Liquidity Generating sufficient cash flow from operations enables IEC to decrease debt Source: IEC's Financial Statements for 2016FY-2020FY Investment activities excluding repayment (or deposits) of bank deposits. Total cash from investment activities figures as reported for 2016FY, 2017FY, 2018FY, 2019FY & 2020 FY are NIS (2.8) bn, NIS (2.2) bn, NIS (3.1) bn, NIS (1.3) bn and NIS 0.7 bn, respectively. 1. 2. IEC defines "liquidity" as cash and cash equivalents, short term investments and available credit facilities. Denotes USD figures at USD/NIS exchange rate of 3.85, 3.47, 3.75, 3.46 & 3.22 for the end of period of 2016FY, 2017FY, 2018FY, 2019FY & 2020FY, respectively Investor Relations 26
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