Delek swings to profit as Leviathan production grows

AuthorGlobes correspondent
Publication Date26 Aug 2021
Following publication of the results, Delek's share price was down 3% on the Tel Aviv Stock Exchange (TASE).

In the second quarter of 2021, Delek reported a net profit of NIS 302 million, up 192% from a net loss of NIS 326 million in the corresponding quarter of 2020. Revenue in the second quarter of 2021 was NIS 1.74 billion, up from NIS 1.45 billion in the corresponding quarter of 2020.

Delek continued to reduce its net debt, which stood at NIS 4.1 billion at the end of the second quarter, down from NIS 4.3 billion at the end of 2020.

In the first half of 2021, Delek reported net profit of NIS 581 million compared with a net loss of NIS 3 billion in the first half of 2020. Revenue in the first half of 2021 was NIS 3.7 billion compared with NIS 3.3 billion in the first half of 2020.

The activities of Delek Drilling Limited Partnership...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT