Kenon Holdings(US:KEN) Prnewswireยท2025-04-02 20:45Core Insights - Kenon Holdings Ltd. reported a net profit of $53 million for 2024, an increase from $47 million in 2023, with a notable decrease in share profit from associated companies [3][4][7] - The company's revenue for 2024 was $751 million, up from $692 million in 2023, driven by increased sales in both Israel and the U.S. [7][10] - Kenon announced a cash dividend of approximately $250 million, equating to $4.80 per share, approved by its board of directors [8][24] Financial Performance - OPC's Adjusted EBITDA for 2024 was $332 million, compared to $304 million in 2023, reflecting improved operational performance [3][7] - Revenue from electricity sales increased by $59 million in 2024, with significant contributions from capacity payments and renewable energy sales [10][14] - Cost of sales rose to $522 million in 2024 from $494 million in 2023, primarily due to increased expenses related to energy acquisition and maintenance [13][21] Shareholder Returns - Kenon has repurchased approximately 681 thousand shares for about $20 million since September 2024, totaling 1.8 million shares repurchased since March 2023 [8][27] - The company sold its remaining interest in ZIM for net proceeds of $394 million, marking a significant divestment [8][30] Business Developments - In February 2025, CPV Shore completed a refinancing of approximately $436 million, with Kenon contributing about $55 million [20] - Kenon is actively pursuing enforcement of a CIETAC Award against Baoneng Group, which includes a claim for approximately $260 million [33][34]