Doral Energy: Annual net profit of NIS 10 million compared to a loss of NIS 1 million last year – the capital market

Renewable Energy Company

Doral Energy
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On a profit of NIS 850,000, compared with a loss of NIS 2 million in the corresponding quarter last year. The annual total profit was NIS 13.8 million, compared to a loss of NIS 2.5 million in 2019. Revenues for the quarter amounted to NIS 31.6 million, compared with NIS 1.4 million in 2019.

The profit on a non-GAAP basis in 2020 amounted to NIS 10.4 million (and net of depreciation and amortization of NIS 22.5 million), compared with a loss of NIS 1 million in 2019.

The EBITDA of the project corporations in 2020 amounted to NIS 55.2 million, compared to NIS 49 million in 2019, an increase of 12.6%.

The company’s revenues in 2020 amounted to NIS 58.7 million, compared with NIS 8.2 million in 2019 – The increase in revenue is due to the sale of electricity and the provision of services. In 2020, there was a 12.5% ​​increase in the corporations’ revenues from the sale of electricity, which amounted to NIS 59.8 million, compared with NIS 53.2 million in 2019. Non-GAAP revenues in 2020 amounted to NIS 39.1 million, an increase of 39.6% compared to NIS 28 million in 2019.

Yaki Neumann, CEO of the company: “The increase in the volume of the company’s activity continues and is also reflected in the growth in revenues from electricity generation and profit compared to the corresponding period last year. The company is progressing in accordance with its strategic goals and beyond. The company is constantly engaged in building additional growth engines for the company’s operations, including innovative technological solutions for streamlining the land resource with agro-volt projects and “energy independence” projects that combine storage facilities and power grid management in large electricity consumer areas. The company also established the innovation arm, Doral-Tech, with the aim of locating, investing and professionally accompanying synergistic technological projects for its activities.