Delek Group net loss in 2020 as a whole amounted to NIS 1.87 billion

Delek Group, controlled by Yitzhak Tshuva, published its financial reports for the fourth quarter and the entire 2020. The company's reports show that it ended the fourth quarter of 2020 with a net profit of 1.1 billion NIS, compared to a loss of NIS 311 million in the corresponding quarter in 2019. Following the publication of the reports, the company's share falls by about 7%, after having already lost about 11%. Which casts doubt on its continued existence as a living business for the foreseeable future. Delek shares are falling, among other things, due to expiration of options tomorrow by about NIS 60 million.
The Delek Group's net loss in 2020 as a whole amounted to NIS 1.87 billion, compared with a profit of NIS 234 million in 2019. Delek opened 2021 with cash and liquid balances of NIS 275 million, while by the end of the year it has to repay NIS 1.53 billion to bondholders and banks. Most of the increase in profit in the fourth quarter is due to an updated valuation of its valued subsidiary Itka As of the end of 2020 by $ 1.9 billion, this is an increase of $ 700 million compared to the previous estimate made in the midst of the Corona plague crisis in June 2020. The increase in Ithaca is due to the increase in the price of oil and improved operating results. Other investee companies such as Delek Drilling and Delek Israel.