Investor Presentaiton
Financial Highlights
Revenues
חברת החשמל
EBITDA (1)
Israel Electric
(NIS bn)
(NIS bn)
$7.0
24.7
$7.0
$6.9
$6.9
$5.4
$5.3
23.8
22.2
23.1
$2.2
$2.2
$2.3
$2.1
$1.9
19.4
17.9
7.9
7.5
7.5
$1.4
6.4
6.9
5.1
2019
2020
2021
2022
9M.2022 9M.2023
2019
2020
2021
2022
9M.2022
9M.2023
Historical Investments by segments (CAPEX) (2)
Net Financial Debt (4)/EBITDA
$1.7
$1.9
(NIS bn)
$1.6
$1.5
5.9
6.0
$1.3
5.9x
5.5
5.5x
5.1
$1.2
4.6
1.8
4.4x
4.3x
1.7
4.0
4.0x
4.1x
1.5
1.9
1.1
1.6
1.4
1.2
1.3
1.3
1.1
1.3
2.9
2.2
2.4
1.8
1.4
1.3
ات
2019(3)
2020
2021
2022
9M.2022
9M.2023
(5)
(5)
2019
2020
2021
2022
9M.2022 9M.2023
Assets and Liablities which which wasn't directly callsified
Others
Distribution
Transmission
■Supply
System Manager
Generation
Source: IEC's Financial Statements for 2019FY-2022FY and for 9M.2023
1.
2.
3.
4.
5.
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)
In annualized terms, calculation based on LTM EBITDA,.
Financial Figures denote USD figures at USD/NIS average exchange rate of 3.56, 3.44, 3.23, 3.36, 3.32 and 3.64 for 2019FY, 2020FY, 2021FY, 2022FY, 9M.2022 and 9M.2023, respectively
Investor Relations
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