1. ILCO reported a Q4 profit increase to $31 million. 2. ILCO's stake in ICL saw a profit of $30 million in Q4. 3. ILCO has $126 million in net cash as of December 31, 2024. 4. A $15 million dividend will be distributed on April 21, 2025. 5. ILCO now holds a 27.5% stake in Prodalim after recent investment.
ILCO's increased profitability and cash reserves suggest potential growth for ICL. Historically, positive profit contributions from major stakeholders have correlated with favorable stock price movements.
The article highlights ILCO's strong financial performance and its significant stake in ICL, indicating that ICL's market performance may be positively affected.
The upcoming dividend distribution and profit announcements are likely to influence ICL's stock price in the near term, as investors respond to financial health indicators.
Israel Corporation Ltd. (TASE: ILCO) ("ILCO") announced today its fourth quarter and annual results for the period ending December 31, 2024.
| $m | Q3/24 | Q3/23 | 2024 | 2023 |
|---|---|---|---|---|
| ILCO share in ICL profit | 30 | 28 | 175 | 282 |
| Financing, G&A and other at ILCO headquarter level | 2 | 1 | - | (8) |
| Tax income (expense) of ILCO Headquarters | (1) | (1) | 15 | (1) |
| Net profit to company's shareholders | 31 | 28 | 190 | 273 |
As of December 31, 2024, total financial liabilities were $733 million, and investments in liquid assets amounted to $882 million of which $83 million are pledged deposits.
Net cash as of December 31, 2024, totaled $126 million. The net cash includes the fair value of derivatives transactions, which increases the economic value of the financial liabilities by $23 million. As of September 30, 2024, the net cash was $84 million.
On January 21, 2025, following approval by the Company's Board of Directors, ILCO entered into investment agreements and share purchase agreements with existing shareholders of Prodalim Investments Ltd ("Prodalim") for a total investment of ~$116m. The transaction was completed on March 5, 2025; ILCO owns 27.5% of Prodalim. Prodalim is a private company, incorporated in Israel, which is engaged in creating natural solutions for various industries. Its products include concentrates, flavors and fragrances, beverage bases, and other natural functional ingredients. In addition, Prodalim is developing innovative activities focused on the emerging world of the de-alcoholization of alcoholic beverages.
On March 27, 2025, ILCO Board of Directors decided on distribution of dividend at the sum of $15m, this in accordance with the company's dividend policy announced in January 2023. The record date will be April 9, 2025, and the payment date will be April 21, 2025.
| $m | 31/12/2024 | |
|---|---|---|
| Assets | ICL (~567m shares, market value) | 2,799 |
| AKVA Group (~6.6m shares, market value) | 40 | |
| Other (market value) | 13 | |
| Total Assets | 2,851 | |
| ILCO's Net Cash | 126 | |
| Total Assets, net | 2,977 |
Israel Corporation Ltd. (TASE: ILCO) ("ILCO") is a reputable public investment company, which owns and invests in high quality companies with established managements and go-to markets.
In November 2019, ILCO announced its updated strategy, ILCO plans to expand its portfolio through new investments over the next few years. ILCO plans to focus mainly on the food (inc. tech), agriculture (inc. tech), healthcare and industry 4.0 sectors. For more details please see the following link to ILCO updated Strategy Presentation.
ILCO strives to generate return on its investment through active board participations and its operational and managerial expertise.
ILCO current core holdings include c.44% stake in ICL Group (NYSE: ICL, TASE: ICL) and c.18% stake in AKVA Group (OB: AKVA). ILCO is publicly traded on the Tel Aviv Stock Exchange under the ticker ILCO and is included in the TA-35 Index.
For further information on ILCO, see ILCO's publicly available filings, which can be found on the Tel Aviv Stock Exchange website at http://maya.tase.co.il.
Please also see ILCO company website http://www.israelcorp.com for additional information.
The financial information found in this press release is an English summary based on the original Hebrew financial statements and is solely for the convenience of the reader. The binding version is the original in Hebrew.
This press release may contain forward-looking statements, which may not materialize and are subject to risks and uncertainties that are not under the control of ILCO, which may cause actual results to differ materially from those contained in the disclosures.
Idan Hizki
Vice President, Business Development & Investor Relations
Tel: +972 3 684 4500
[email protected]