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Kenon Holdings Ltd (NYSE: KEN) operates a diversified portfolio spanning energy generation, shipping logistics, automotive innovation, and alternative fuel technology. This news hub provides investors with centralized access to all corporate developments across its subsidiaries.
Track official press releases covering quarterly earnings, regulatory updates, strategic partnerships, and operational milestones. Our curated collection ensures you stay informed about OPC Energy's power generation projects, ZIM's shipping network expansions, and Primus Green Energy's sustainable fuel advancements.
Key updates include financial disclosures, leadership changes, market entry announcements, and regulatory filings. Bookmark this page for real-time access to Kenon's multifaceted business activities, combining stable utility operations with growth-oriented ventures in emerging technologies.
Kenon Holdings (NYSE: KEN) has reported its full year 2024 results with several significant developments. The company announced a $250 million cash dividend ($4.80 per share) and completed the sale of its remaining ZIM stake for $394 million. Kenon has repurchased approximately 681,000 shares for $20 million under its expanded share repurchase plan.
OPC Energy, Kenon's operating subsidiary, reported a net profit of $53 million in 2024, up from $47 million in 2023. Revenue increased to $751 million from $692 million, while Adjusted EBITDA rose to $332 million from $304 million. The company's financial position shows cash and equivalents of $264 million with total consolidated debt of $1,267 million as of December 31, 2024.
Kenon Holdings has reported its Q3 2024 results with several key developments. The company has repurchased approximately 348,000 shares for $10 million under its share repurchase plan. OPC reported a Q3 2024 net profit of $23 million (compared to $27 million in Q3 2023) and Adjusted EBITDA of $108 million (vs $104 million in Q3 2023). ZIM announced strong results with a Q3 2024 net profit of $1.1 billion (compared to a net loss of $2.3 billion in Q3 2023) and Adjusted EBITDA of $1.5 billion (vs $211 million in Q3 2023). ZIM declared a dividend of $3.65 per share, with approximately $47 million net of tax payable to Kenon. The company has also reduced its stake in ZIM to 7.6% through various sales and derivative transactions.
Kenon Holdings (NYSE: KEN) announced its Q2 2024 results and provided additional updates. Key highlights include:
Kenon sold 5M ZIM shares for $111M in June 2024, remaining the largest shareholder. Entered a collar transaction on an additional 5M ZIM shares. Increased share repurchase plan to $60M and authorized up to $30M through March 2025. OPC raised $220M in a share offering, with Kenon investing $120M, raising its stake to 54.5%.
In August 2024, Harrison Street agreed to invest $300M in OPC's CPV Renewable for a 33.33% stake. OPC's PJM market capacity price rose to $269.92/MW-day. Financially, OPC reported a Q2 net loss of $7M, decreased from $11M in 2023, with $66M in Adjusted EBITDA, up from $47M. ZIM reported a Q2 profit of $373M from a $213M loss in 2023, with Adjusted EBITDA of $766M, up from $275M. ZIM declared a $0.93/share dividend, netting Kenon approximately $14M after tax.
Kenon Holdings (NYSE: KEN, TASE: KEN) reported its Q1 2024 results on June 3, 2024. The company received favorable court decisions in litigation against Shenzhen Baoneng and arbitration against Peru, leading to potential financial gains. Kenon distributed a $200 million dividend in April 2024 and is set to receive $5 million from ZIM's declared dividend.
OPC's Q1 2024 net profit was $4 million, down from $22 million in Q1 2023, though revenue increased to $174 million from $147 million. ZIM reported a net profit of $92 million, reversing a loss of $58 million in Q1 2023. ZIM's revenues were up by 14% to $1.6 billion.
Kenon's liquidity stood at $640 million as of March 31, 2024, with no material debt. OPC's adjusted EBITDA rose to $95 million from $75 million. Kenon continues to enforce its legal claims for substantial financial awards.
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