Delek Group Ltd. · TASE:DLEKG
Delek — Q4 2020 Earnings Presentation
11 slides from Delek's earnings presentation, Mar 30, 2021
Slide 1: Q4 2020 and Full Year Results
Q4 2020 and Full Year Results March 30, 2021 1
Slide 2: Disclaimer
Disclaimer This presentation was prepared by Delek Group Ltd (“Delek”, or the “Company”), and is given only for the provision of concise information for the sake of convenience. This presentation does not purport to be comprehensive or to contain any and all information which might be relevant in co
Slide 3: Continued Positive Momentum Led to Record Profits in Q4 2020
Continued Positive Momentum Led to Record Profits in Q4 2020 YEAR-END NET DEBT DECREASED BY NIS RECORD PROFIT IN Q4 2020 1.1 BILLION COMPARED TO SEPT 30, 2020 ✓ Net profit of approx. NIS 1.1 billion, attributed to Ithaca’s asset revaluation of $271 million (net of taxes) ✓ Net debt as of December 31
Slide 4: Significant Decrease in Financial Debt During 2020
Significant Decrease in Financial Debt During 2020 Loans from banks & Debentures2 Financial Debt Net Financial Debt others1 (Company & Staff Companies) (Company & Staff Companies) NIS million (934) )2,985( )1,550( (2,188) 2,488 6,281 9,155 5,915 5,325 6,148 4,343 300 Dec 31, 2019 Dec 31, 2020 Dec 31
Slide 5: Actions Led to Significant Decrease in Bond Yields
Actions Led to Significant Decrease in Bond Yields Rating Q2 2020 reports Q3 2020 reports reduced to publication publication Current yield BBB Bond series April 1, August 31, November 25, March 30, 2020 2020 2020 2021 Series 13 506% 40% 19% 8% Series 22 749% 47% 30% 11% Series 18 322% 50% 44% 14% Se
Slide 6: Group Structure Following Business Focus Actions
Group Structure Following Business Focus Actions Delek Group Fuel marketing UK North Sea East Med and convenience Oil & Gas Gas & Oil stores - Israel 54.7% 100% 100% *25% Leviathan Delek overriding Drilling royalties Ithaca Delek Israel Tamar Leviathan Aphrodite (Israel) (Israel) (Cyprus) 22% 45% 30
Slide 7: Natural Gas in Israel
Natural Gas in Israel Sales volume (BCM) Revenues (NIS million) EBITDA (NIS million) +69% +114% +69% Leviathan- 1.9 BCM 685 4.4 522 2.6 304 320 Q4 2019 Q4 2020 Q4 2019 Q4 2020 Q4 2019 Q4 2020 ✓ The increase in sales volume, revenues and EBITDA is attributed to the launch of Leviathan. Gas sales volu
Slide 8: Asset Revaluation Led to a Sharp Increase in Net Profit from Oil & Gas
Asset Revaluation Led to a Sharp Increase in Net Profit from Oil & Gas Business in the UK North Sea Profit (loss) from asset Ithaca’s Valuation 1 Net profit Net debt evaluation (before tax) $ million $(330)M +$667M +$651M 452 +$388M 326 1878 1,550 1,220 1211 -62 -199 30.6.2020 31.12.2020 Q4 2019 Q4
Slide 9: Ithaca – Summary & Forward-Looking Estimates
Ithaca – Summary & Forward-Looking Estimates $3.84 billion DCF value 2P+2C reserves & resources ~60-65 $1.22 $2.2 ~298 kboe/d billion billion $14/boe Mmboe estimated OPEX Estimated Net debt carried forward 2P+2C production – December 31, UK tax 2021-2023 December 31, 2021-2023 2020 allowances 2020 1
Slide 10: Record Profits for Delek Group in Q4 2020 and Continuous Upward Trend in Shareholders' Equity
Record Profits for Delek Group in Q4 2020 and Continuous Upward Trend in Shareholders’ Equity Shareholders’ equity Net income Operating income NIS million +1,380M 1,069 +1,912M 1,540 4,133 2,263 2,022 1,428 1,488 -311 -372 Q4 2019 Q4 2020 Q4 2019 Q4 2020 ✓ The increase in net profit is attributed to
Slide 11: Limor Gruber Head of Investor Relations
תודה רבה Limor Gruber Head of Investor Relations Limorg@delek-group.com +972 9 863-8443