Investor Presentaiton
Income Statement
(NIS millions)
(NIS millions)
חברת החשמל
Israel Electric
For the years:
12/31/2018
12/31/2019
12/31/2020
Revenues
Cost of operating the electricity system
Fuels
Purchases of electricity
23,584
24,660
23,778
8,540
8,302
6,220
3,591
4,193
5,269
Operation of the generation system
4,375
4,352
4,143
Operation of the transmission and distribution system and others
3,018
2,524
2,849
Total costs
19,524
19,371
18,481
Profit from operating the electricity system
4,060
5,289
5,297
Other expenses (revenues), net
23
(2,477)
(2,816)
Sales and marketing expenses
935
869
886
Administrative and general expenses
Income from liabilities to pensioners
Reform agreement and other agreements results
Profit (loss) from current operations
Financial expenses, net
Income (loss) before income taxes
Taxes on income
Income (loss) after income taxes
Company's share of the loss of asociated companies
734
638
971
(100)
(39)
(24)
4,249
761
708
(1,781)
5,537
5,572
1,792
1,368
511
(946)
4,169
5,061
(597)
917
1,189
(349)
3,252
3,872
(5)
(15)
(6)
Income (loss) before regulatory deferral accounts
(354)
3,237
3,866
Movement in regulatory deferral accounts balances, net of tax
4,424
(1,421)
(2,163)
Profit for the year
4,070
1,816
1,703
Profit (loss) with respect to cash flow hedging, net of tax
123
(148)
147
Remeasurement of a defined benefit plan, net of tax
(143)
(1,939)
486
Movement in balances of regulatory deferral accounts balances, net of tax
Other Comprehensive profit (loss) for the year, net of tax
78
(58)
(20)
(2,009)
575
Comprehensive income (loss) for the period
4,050
(193)
2,278
Source: IEC's Financial Statements for 2020FY
Investor Relations
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