Israel · Delayed Price · Currency is ILS · Price in ILA NewMed Energy - Limited Partnership Earnings Call Transcripts
Fiscal Year 2025
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2025 saw lower net profit and revenues due to Brent price declines and a $76M impairment, but major infrastructure projects were completed under budget, boosting future capacity. Dividend distributions remained stable, and expansion projects in Israel, Egypt, and Bulgaria are progressing.
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Q2 2025 saw lower revenue and profit due to production halts and lower prices, but a major new gas deal and ongoing expansion projects support future growth. Dividend distributions continue, and exploration in Bulgaria could drive further upside.
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Q1 2025 saw natural gas sales rise to 2.9 BCM and revenues reach $288 million, with net profit at $116 million. Major infrastructure and exploration projects advanced, and a $60 million dividend plus $400 million bond prepayment were announced.
Fiscal Year 2024
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2024 saw record production and a 21% rise in net income to $525 million, with revenues at $1.14 billion. Major expansion projects and new export agreements are underway, while dividends and debt reduction remain priorities.
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Record Q3 results with net profit up 25% year-over-year, driven by higher Leviathan production and sales. Major infrastructure projects are progressing, though some face delays, and the company maintains a strong balance sheet with ongoing dividend payouts.
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Q2 saw a 47% year-over-year net profit increase to $137 million, with sales volumes and prices rising due to strong demand in Egypt and Israel. Expansion projects are on track, and a $65 million dividend was declared, supported by reduced debt and robust cash flow.