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Delek Group’s year of recovery ends on NIS 1.43b profit

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Delek Team (TASE: DLEKG), managed by Yitzhak Tshuva, has produced outcomes for 2021 demonstrating restoration just after the significant disaster that it went as a result of in 2020. The firm posted a internet income of NIS 1.43 billion final calendar year, which compares with a web reduction of NIS 1.82 billion in 2020.

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Continued superior functionality of the group’s main oil and fuel manufacturing belongings led to a 19.5% increase in earnings to NIS 8 billion in 2021. The effects were being also favorably impacted by a 15.7% slide in finance fees to NIS 1.93 billion.

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Delek Group has a industry cap of NIS 8.2 billion, just after a 184% rise in its share selling price on the past calendar year in reaction to the improvement in the firm’s business enterprise and the soar in oil charges. Shareholders’ fairness at the conclude of 2021 was NIS 2.6 billion, up from NIS 2.1 billion at the close of 2020.

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In the fourth quarter of 2021, profits totaled NIS 2.26 billion, which compares with NIS 1.63 billion in the corresponding quarter of 2020. Internet profit in the fourth quarter was NIS 628 million. This compares with a internet income of NIS 1.1 billion in the fourth quarter of 2020. That quarter’s effects ended up impacted by a a person-time get of NIS 900 million resulting from the reversal of a compose-down of the oil and gasoline assets of subsidiary Ithaca Energy.

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Delek Group’s share value is up 3.45% on the Tel Aviv Inventory Trade this morning.

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Released by Globes, Israel company information – en.globes.co.il – on March 30, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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