Kenon Holdings FY23 Revenue For OPC $692M Vs $574M YoY
Portfolio Pulse from Benzinga Newsdesk
Kenon Holdings reported a FY23 revenue of $692M for its subsidiary OPC, up from $574M in FY22. The increase is attributed to higher electricity sales in Israel and the U.S., and the commencement of operations at Tzomet and Gat Power Plants. Despite the revenue growth, profit for the period decreased to $47M from $65M, with a notable rise in cost of sales and finance expenses. Adjusted EBITDA also saw a significant increase from $250M to $304M.
March 26, 2024 | 1:16 pm
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Kenon Holdings reported a significant increase in FY23 revenue for its subsidiary OPC, with a notable rise in costs and a decrease in profit. Adjusted EBITDA improved.
The increase in revenue for OPC, a subsidiary of Kenon Holdings, suggests positive growth, especially with the operational commencement of new power plants. However, the decrease in profit and the rise in costs could concern investors. The significant increase in adjusted EBITDA indicates improved operational efficiency, potentially offsetting concerns about the profit dip in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100