Mekorot reports for the first quarter show a net profit of NIS 52 million

Mekorot published its financial reports for the first quarter of 2021, which show that water consumption has increased and at the same time there has been an increase in the company's revenues and net profit of NIS 80 million at the end of the first quarter this year compared to a net profit of NIS 52 million in the corresponding period last year.
During the reporting quarter, Mekorot supplied approximately 318 million cubic meters (of which approximately 32 million cubic meters were supplied to Jordan and the Palestinian Authority), compared with approximately 282 million cubic meters in the corresponding period last year - an increase of approximately 13%.
Water consumption for agriculture jumped 32% in the quarter to 107 million cubic meters of water compared to 81 million cubic meters in the first quarter of 2020. There is no explanation in the report for the jump in agricultural consumption, and some may have been affected by fewer precipitation days in the first quarter.
The domestic sector also consumed more water at the beginning of 2021, but by a much smaller gap: 210 million cubic meters compared to 200 million cubic meters in the first quarter of 2020 - an increase of about 5%.
General and administrative expenses in the reporting period amounted to NIS 36 million, compared with NIS 22 million in the corresponding period last year, an increase mainly due to an increase in doubtful debts in respect of private producers.
During the reporting period, Mekorot signed a cooperation agreement for the development and control of Bahrain's national water system, and it is the first Israeli infrastructure company to use the "Abraham Agreements" to create economic ties.
The report states that in the coming years will face unique and wide-ranging challenges in the infrastructure economy and after the significant challenges is the sale of the desalination plant in Ashdod and ensuring its regular activity for sale.