Investor Presentaiton
Israel Electric Corp. at a Glance
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חברת החשמל
Israel Electric
Established in 1923, 98 years of operation, the Israel Electric Corporation Limited ("IEC") is the
sole vertically integrated electric utility company in Israel and generates, transmits, distributes and
supplies the majority of the electricity used in Israel
IEC is appx. 99.85% owned by the State of Israel
IEC Power Grid
IEC had total assets of NIS 86.9 billion and 11,483 employees as of December 31, 2020
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As of December 31, 2020, IEC served 2.9 million residential, commercial, agricultural and
industrial customers throughout the State of Israel, including East Jerusalem and the Palestinian
Authority (PA)
Total electricity sales of 51,991 GWh for the year ended December 31, 2020
Generation (1)
11.6 GW
Installed capacity
15
Power stations
Transmission (1)
5,715 km
High and ultra-high voltage
transmission grid
220 (2)
Switching stations &
sub-stations
Distribution (1)
68,344 km
Medium and low
voltage lines
2.9 mn
Customers
2020FY Key Financials
Revenues
NIS 23.8 billion
$7.4
EBITDA
NIS 7.5 billion
$2.3
Source: IEC Financial Statements for 2020FY
1)
As of December 31, 2020
2)
60 substations are privately owned
3)
A State of Israel guarantee for the existing loans of IEC are negligible compared to the company's overall financial debt
Denotes USD figures USD/NIS exchange rate of 3.22 as of December 31, 2020.
Investor Relations
5
400 kV lines
161 kV lines
Steam (dual
purpose)
Gas turbine (internal
combustion) /
Combined-cycle
(internal combustion
and steam)
Credit Ratings as of March 11, 2021
State of Israel (3)
A1 / AA / A+
Stable/Stable / Stable
(Moody's/S&P/Fitch)
IEC Global
Baa2/ BBB
Positive/Stable
(Moody's/S&P)
IEC Local
Aa1 / AA+
Stable / Stable
(Midroog / Maalot S&P)View entire presentation