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DELEK GROUP (DLEKG) investor relations material
DELEK GROUP Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record net income of ₪3,256M in 2025, driven by a one-time gain from deconsolidation of Ithaca, but normalized net income was ₪1,003M, down from 2024 due to lower energy prices and operational disruptions.
Completed acquisition of a controlling stake in Isracard, consolidating its results from Q3 2025, and expanded into financial services.
Continued focus on core upstream energy assets in the East Med and North Sea, with strategic expansion into financial services and agriculture.
Financial highlights
Total revenues grew to ₪16,131M in 2025 from ₪11,961M in 2024, mainly due to Isracard consolidation and higher North Sea output.
Net income includes a ₪2,678M gain from remeasurement of Ithaca following loss of control; normalized net income was ₪1,003M.
EBITDAX from oil and gas operations reached $2,726M (100% basis), up from $2,219M in 2024.
Dividends of ₪1,035M were distributed in 2025.
Cash and short-term investments at year-end: ₪2.2B; net financial debt (holding and HQ companies): ₪3.8B.
Outlook and guidance
Ongoing expansion of Leviathan gas field with FID for Phase 1B, targeting 21 BCM/year by 2029.
Isracard to drive growth in financial services, with plans to acquire a digital bank and invest in fintech.
Continued focus on value creation from core energy assets and disciplined capital allocation.
- Q3 2024 saw strong earnings, high dividends, and strategic growth despite regional risks.DLEKG
Q3 202412 Jan 2026 - Q3 2025 net income surged on Ithaca’s gain, Isracard consolidation, and strong North Sea results.DLEKG
Q3 20255 Dec 2025 - Revenues and EBITDAX climbed, but net income fell amid acquisitions and security disruptions.DLEKG
Q2 202520 Aug 2025 - Revenue, EBITDAX, and adjusted net income surged, supported by strong operations and capital discipline.DLEKG
Q1 20256 Jun 2025 - Net income reached NIS 1.4B, with strong dividends and portfolio diversification underway.DLEKG
Q4 20246 Jun 2025 - H1 2024 net income dropped to NIS 651m, with Israeli gas growth offset by North Sea declines.DLEKG
Q2 20244 Jun 2025
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