This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
TEL AVIV, Israel,
November 29, 2012 /PRNewswire/ --
Delek Group Ltd. (TASE:DLEKG, OTCQX:DGRLY) (hereinafter: "Delek Group" or "The Group") announced today its results for the three and nine month period ended
September 30, 2012. The full financial statements will be available in English on Delek Group's website at:
First Nine Months 2012 Highlights
Group operating profit of NIS 2.3 billion, an increase of 10% compared with NIS 2.1 billion in the same period last year;
Net income reached NIS 243 million for the nine month period and NIS 93 million for the third quarter;
Delek Group sold shares amounting to 13.9% of its subsidiary Delek US and totalling NIS 815 million
Delek Group announced a dividend of NIS 65 million for the third quarter of 2012.
Group revenues for the first nine months of 2012 were
NIS 53.5 billion, a 26% increase compared with
NIS 42.3 billion in the first nine months of 2011. The increase was primarily due to the Lion Oil refinery operations which were consolidated in the corresponding period last year for only five months. In addition the increase in revenues was also due to the rise in fuel prices, which led to an increase in refinery revenues as well as an increased contribution from the downstream energy assets; Delek Europe, Delek Israel and Delek US. In the third quarter of 2012, group revenues were
NIS 18.9 billion, a 24% increase compared with
NIS 15.2 billion in the third quarter of 2011.
Netincome in the first nine months of 2012 totaled
NIS 243 million compared with a net income of
NIS 451 million in the first nine months of 2011. In the first nine months of 2011, net income included
NIS 348 million in capital gains from the sale of Noble Energy shares. Net income in the third quarter of 2012 totaled
NIS 93 million compared with
NIS 140 million in the third quarter of 2011.
Group total assets as of
September 30, 2012, amounted to
NIS 120 billion, compared with
NIS 108 billion as of
December 31, 2011.
Commented Mr. Bartfeld, CEO of Delek Group, "Our net profit for the third quarter together with the gain from the sale of our holdings in Delek US, which increased our shareholders' equity totaled to
NIS 301 million. Delek US shares sold in addition to Delek US shares sold in the fourth quarter have greatly improved the cash levels at the Company. These transactions are proof of our financial flexibility and our ability to realize the inherent value in our assets. As of
September 30, 2012, the Group has more than
NIS 2.4 billion in Cash and cash equivalents"
Main Business Highlights