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Giving gas: a net profit of NIS 68 million for a super gas. How much will be distributed as a dividend? - Walla! Business

2021-03-08T09:10:25.127Z

An increase in supergas profits Business Giving gas: a net profit of NIS 68 million for a super gas. How much will be distributed as a dividend? Positive year summary for Supergas Energy. Despite the decline in revenues from gas sales to the institutional market, due to the corona, there has been an increase in domestic consumption. The board of directors approved the distribution of additional dividends in the amount of NIS 15



  • Business

Giving gas: a net profit of NIS 68 million for a super gas.

How much will be distributed as a dividend?

Positive year summary for Supergas Energy.

Despite the decline in revenues from gas sales to the institutional market, due to the corona, there has been an increase in domestic consumption.

The board of directors approved the distribution of additional dividends in the amount of NIS 15 million.

CEO, Kfir Navon: "Supergas will continue to establish its position as a leading energy supplier"

Tags

  • Supergas

  • Pure profit

  • Dividends

  • Annual Report

Nir Kipnis

Monday, 08 March 2021, 10:13 Updated: 10:55

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In June 2020, the energy company Supergas was issued for the first time, and the first annual report is published as a public company (data for the first half of 2020 are based on the data provided by the company before the IPO).


Despite a decrease of almost NIS 12 million in revenue compared to 2019, decreases that the company attributes to a decrease in gas consumption in the institutional economy (mainly restaurants and hotels), the company managed to improve its profitability and present a net profit of NIS 68.1 million.

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Kfir Navon, CEO of Supergas Energy (Photo: Eldad Refaeli)

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Kfir Navon

, CEO of Supergas, responded to the data: “Throughout the Corona event, the company is working to reduce its impact on its operations, and at the same time we continue to develop new growth engines.

In this context, in recent months we have signed 3 additional agreements for the construction of 4 cogeneration facilities, so that as of the date of the report, the company has 11 agreements for the construction of approximately 40 megawatts.

We are in contact with a number of parties prior to signing additional agreements.



In addition, the company is working to renew its activity in the field of solar energy and in this context is working to identify opportunities in Israel and abroad. The energy solutions it provides and offers to its customers and become the first Energy Service Provider in Israel. "

New year, new dividend

Following the business results, the company's board of directors decided to approve a dividend of NIS 15 million, the dividend will be distributed in April 2021, after dividends of NIS 24 million were distributed in September 2020.

It should be noted that the company repaid the bank loans it took out earlier in the year, which reduced financing expenses in the last quarter of 2020, from NIS 4.8 million to only NIS 1.2 million.

The company's equity rose to NIS 744.6 million, almost entirely attributable to shareholders.


Supergas Energy is controlled by the Elco Group, which belongs to the brothers Daniel and Michael Zalkind, and the group's equity stands (as of the 2019 reports), at NIS 2.49 billion.

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Source: walla

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