Israel Corp. Reports Results for Fourth Quarter of 2021
TEL AVIV, Israel, March 25, 2022 /PRNewswire/ -- Israel Corporation Ltd. (TASE: ILCO) ("IC") announced today its fourth quarter and annual results for the period ending December 31, 2021.
Selected Financial Figures for the fourth Quarter and 2021:
$m | Q4/21 | Q4/20 | 2021 | 2020 |
IC share in ICL profit | 129 | 30 | 357 | 6 |
IC share in Bazan profit (loss) | 24 | (22) | 78 | (91) |
Amortization of excess cost | (1) | (3) | (8) | (9) |
Reversal of Impairment (Impairment) of Bazan | 19 | - | (262) | - |
Financing, G&A and other expenses at IC headquarter | (11) | (20) | (77) | (79) |
Tax Expenses of IC Headquarters | - | 1 | - | - |
Net Profit (Loss) to company's shareholders | 160 | (14) | 88 | (173) |
Debt Balances and Liquidity at the IC Headquarters Level1
As of December 31, 2021, total financial liabilities1 were
Net debt1 as of December 31, 2021, totaled
Additional updates
On October 21, 2021, IC completed an investment of ~NOK 637m (~
On November 11, 2021, IC completed a share sale of
On March 9, 2022, IC completed a sale of ~
As a holding company, the financial results of IC are mainly affected by the results of its held companies. For more details see detailed financial report.
IC Total Assets, Net
$m | 31/12/2021 |
Assets | |
ICL (~587m shares, market value3,4) | 5,666 |
Bazan (~796m shares, market value3) | 221 |
Akva Group (market value) | 66 |
Total Assets | 5,959 |
IC's Net Debt | 951 |
Total Assets, net | 5,002 |
About Israel Corporation
Israel Corporation Ltd. (TASE: ILCO) ("IC") is a reputable public investment company, which owns and invests in high quality companies with established managements and go-to markets.
In November 2019, IC announced its updated strategy, IC plans to expand its portfolio through new investments over the next few years. IC plans to focus mainly on the food (inc. tech), agriculture (inc. tech), healthcare and industry 4.0 sectors. For more details please see the following link to IC updated Strategy Presentation
IC strives to generate return on its investment through active board participations and its operational and managerial expertise.
IC current core holdings include c.
For further information on IC, see IC's publicly available filings, which can be found on the Tel Aviv Stock Exchange website at http://maya.tase.co.il.
Please also see IC company website http://www.israelcorp.com for additional information.
Convenience Translation
The financial information found in this press release is an English summary based on the original Hebrew financial statements and is solely for the convenience of the reader. The binding version is the original in Hebrew.
Forward Looking Statements
This press release may contain forward-looking statements, which may not materialize and are subject to risks and uncertainties that are not under the control of IC, which may cause actual results to differ materially from those contained in the disclosures.
Investor Relations Contacts
Idan Hizki
Vice President, Business Development & Investor Relations
Tel: +972 3 684 4500
idanh@israelcorp.com
[1] Israel Corp and its wholly owned and controlled headquarter companies.
[2] On November 11, 2021, IC completed a share sale of
[3] As of December 31, 2021.
[4] On March 9, 2022, IC completed a sale of ~
View original content:https://www.prnewswire.com/news-releases/israel-corp-reports-results-for-fourth-quarter-of-2021-301510596.html
SOURCE Israel Corporation Ltd.