September 22, 2017 4:43 AM ET

Electric Utilities

Company Overview of Israel Electric Corporation Limited

Company Overview

The Israel Electric Corporation Limited generates, transmits, distributes, and supplies electricity in Israel. As of December 31, 2016, the company owned and operated 17 sites of power stations (which include 5 steam power stations) with a total installed generation capacity of approximately 13,617 megawatts; and 63 generation units comprising 18 steam generation units, 14 combined cycle gas turbine units, 16 jet gas turbine units, and 15 industrial gas turbine units. It served approximately 2,720 thousand customers consisting of households, industrial, public, commercial building, bulk water pumping, and agriculture customers. The company was formerly known as The Palestine Electric Corpora...

1 Netiv Ha'Or Street

PO Box 10

Haifa,  3100001

Israel

Founded in 1923

8,807 Employees

Phone:

972 4 818 4700

Fax:

972 4 818 4710

Key Executives for Israel Electric Corporation Limited

CEO & President
Age: 58
Senior Vice President of Finance & Economics
Age: 56
General Counsel, Senior Vice President and Secretary
Age: 49
Head of the Electrical Systems Branch and Acting SVP of Planning, Development & Technology
Age: 57
Senior Vice President of Corporate Sustainabilty & Risk Management
Age: 69
Compensation as of Fiscal Year 2017.

Israel Electric Corporation Limited Key Developments

Israel Electric Corporation Limited Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017

Israel Electric Corporation Limited reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenues of ILS 5,816 million compared to ILS 5,387 million a year ago. Profit from current operations was ILS 768 million compared to ILS 1,060 million a year ago. Profit before income taxes were ILS 494 million compared to ILS 842 million a year ago. Profit after income tax was ILS 371 million compared to ILS 964 million a year ago. Profit for the year was ILS 316 million compared to ILS 615 million a year ago. Net cash provided by operating activities was ILS 2,221 million compared to ILS 2,011 million a year ago. Investment in fixed assets and intangible assets was ILS 926 million compared to ILS 647 million a year ago.

Israel Electric Corporation Limited Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2016

Israel Electric Corporation Limited reported audited consolidated earnings results for the year ended December 31, 2016. For the year, the company reported revenues of ILS 22,690 million compared to ILS 23,049 million a year ago. Profit from current operations was ILS 2,788 million compared to ILS 2,574 million a year ago. Profit before income taxes were ILS 511 million compared to ILS 796 million a year ago. Profit after income tax was ILS 1,169 million compared to ILS 579 million a year ago. Profit for the year was ILS 1,181 million compared to ILS 223 million a year ago. Net cash provided by operating activities was ILS 6,466 million compared to ILS 7,624 million a year ago. Investment in fixed assets and intangible assets was ILS 2,783 million compared to ILS 3,364 million a year ago.

Israel Electric Corporation Limited Approves Appointment of Somekh-Chaikin as Auditor

Israel Electric Corporation Limited announced that at its AGM held on March 7, 2017, shareholders approved the selection the accounting firm of Somekh-Chaikin as the company's auditor until the end of the general meeting following this general meeting, subject to the approval of the Government Companies Authority in accordance with Section 44(a) of the Israeli Government Companies Law, 5735-1975.

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Recent Private Companies Transactions

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