Israel Corp. Reports Results for Fourth Quarter of 2024

Core Insights - Israel Corporation Ltd. (ILCO) reported its fourth quarter and annual results for the period ending December 31, 2024, highlighting a net profit to shareholders of $31 million for Q4 2024, up from$28 million in Q4 2023, and an annual profit of $190 million, down from$273 million in 2023 [2][3] Financial Performance - ILCO's share in ICL profit for Q4 2024 was $30 million, compared to$28 million in Q4 2023, while the annual profit from ICL was $175 million, down from$282 million in 2023 [2] - Total financial liabilities as of December 31, 2024, were $733 million, with investments in liquid assets amounting to$882 million, of which $83 million are pledged deposits [2] - Net cash as of December 31, 2024, totaled$126 million, an increase from $84 million as of September 30, 2024 [3] Investment Activities - On January 21, 2025, ILCO entered into investment agreements for a total investment of approximately$116 million in Prodalim Investments Ltd., acquiring a 27.5% stake [4] - Prodalim focuses on creating natural solutions for various industries, including the development of de-alcoholization technologies for beverages [4] Dividend Distribution - The Board of Directors approved a dividend distribution of $15 million, with a record date of April 9, 2025, and a payment date of April 21, 2025 [5] Asset Overview - As of December 31, 2024, ILCO's total assets were valued at$2.977 billion, including a market value of $2.799 billion for its stake in ICL [6] Strategic Focus - ILCO aims to expand its portfolio through new investments, focusing on sectors such as food technology, agriculture technology, healthcare, and Industry 4.0 [8]