DELEK GROUP (DLEKG) Q2 2025 earnings summary

Executive summary

• Net income attributable to shareholders reached ₪176 million in Q2 2025, down from ₪382 million in Q2 2024, and H1 2025 net income (excluding one-time tax) was ₪491 million, down from ₪651 million in H1 2024.

• Revenues surged to ₪3.5 billion in Q2 2025 and reached ₪7.36 billion in H1 2025, reflecting strong operational performance.

• EBITDAX rose to ₪2.1 billion in Q2 2025 and ₪5.28 billion in H1 2025, indicating improved profitability.

• Completed acquisition of a controlling stake in Isracard for ₪1.36 billion in July 2025, now holding 40.07%.

• Strategy focuses on core energy assets, value creation, and growth through M&A and project development.

Financial highlights

• Q2 2025 revenues were ₪3.5 billion, up from ₪2.5 billion in Q2 2024; H1 2025 revenues reached ₪7.36 billion, up from ₪5.48 billion in H1 2024.

• Q2 2025 EBITDAX was ₪2.1 billion, up from ₪1.5 billion in Q2 2024; H1 2025 EBITDAX was ₪5.28 billion, up from ₪3.4 billion in H1 2024.

• Net financial debt stood at ₪2.5 billion as of June 30, 2025.

• Equity attributable to shareholders was ₪7.8 billion.

• Decline in profit mainly due to production halts at Leviathan, lower oil prices, and reduced stake in Ithaca.

Outlook and guidance

• Dividend yield over the last 12 months reached 10%, among the highest in the TA-35 index.

• Ongoing expansion in natural gas exports and increased production capacity expected to support future growth.

• Isracard results to be consolidated from Q3 2025, expected to impact future financials.

• Ongoing development of the third pipeline at Leviathan, with completion expected in early 2026.

• Continued focus on expanding energy operations and evaluating new business opportunities.