Press Release: Kenon Holdings Reports Q3 2024 Results and Additional Updates

Dow Jones12-05

This press release and any related discussions includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements relating to (i) OPC, including statements about the CPV Renewable Investment, including the terms thereof such as the expected receipt and timing of the remaining investment, the CPV Additional Purchase Agreements and the EA Announcement, (ii) Qoros, including the CIETAC Award in favor of Kenon, and related statements, (iii) Kenon's share repurchase plan including the amount of shares that may be repurchased under the plan, (iv) statements with respect to Kenon's intention to sell and/or enter into a derivative transaction with respect to up to all of its remaining ZIM shares and the ZIM Forward Sale Transaction, and (v) other non-historical matters. These statements are based on current expectations or beliefs and are subject to uncertainty and changes in circumstances. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Kenon's control, which could cause the actual results to differ materially from those indicated in such forward-looking statements. Such risks include (i) risks relating to OPC's business, relating to the CPV Renewable Investment including the remaining investment, risks relating to the CPV Additional Purchase Agreements including risks relating to completion and expected costs, risks relating to potential changes to the tariff structure in Israel as contemplated by the EA Announcement and potential impacts on OPC, and other risks relating to OPC, (ii) risks relating to enforcement and collection of the CIETAC Award and enforcement of the award in related legal proceedings, and other related risks, (iii) risks relating to Kenon's share repurchase plan including risks relating to the amount of shares that will actually be repurchased under the share repurchase program, (iv) risks related to Kenon's intention to sell and/or enter into derivative transactions with respect to up to all of its ZIM shares and the ZIM Forward Sale Transaction, including the risk that such sales and/or derivative transactions including transactions contemplated by the Forward Sale Transaction are not completed on expected terms or at all and risks relating to the prices at which shares are sold and amounts that are paid to Kenon, risks relating to future trading prices of ZIM's shares and impact on Kenon's sales and/or derivative transactions with respect to its ZIM shares including the ZIM Forward Sale Transaction, including the risk that Kenon does not sell all of its ZIM shares and (v) other risks and factors including those risks set forth under the heading "Risk Factors" in Kenon's most recent Annual Report on Form 20-F filed with the SEC and other filings. Except as required by law, Kenon undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact Info

 
 
Kenon Holdings Ltd. 
Deepa Joseph 
 Chief Financial Officer 
 deepaj@kenon-holdings.com 
 Tel: +65 6351 1780 
 

[1] OPC's Adjusted EBITDA (including proportionate share in EBITDA of associated companies) is a non-IFRS measure. See Exhibit 99.2 of Kenon's Form 6-K dated December 5, 2024 for the definition of OPC's Adjusted EBITDA (including proportionate share in Adjusted EBITDA of associated companies) and ZIM's Adjusted EBITDA and a reconciliation to their respective profit/(loss) for the applicable period.

[2] Represents 100% of ZIM's results. Kenon's share of ZIM's results for the three months ended September 30, 2024 was approximately 16.5% as compared to approximately 21% for the three months ended September 30, 2023.

[3] Non-IFRS measure. See Exhibit 99.2 of Kenon's Form 6-K dated December 5, 2024 Appendix C for a definition of OPC's Adjusted EBITDA (including proportionate share in Adjusted EBITDA of associated companies) and a reconciliation to profit for the period.

[4] The table above and corresponding comparison of Q3 2024 compared to Q3 2023 excluding the impact of translating OPC's results from NIS to USD were converted using an average exchange rate of $0.2702/NIS, the average exchange rate in effect for the three months ended September 30, 2024.

[5] Comparing Q3 2024 and Q3 2023 excluding the impact of changes in exchange rates using the average exchange rate of $0.2702/NIS, the average exchange rate in effect for the three months ended September 30, 2024, for both periods.

[6] Adjusted EBITDA is a non-IFRS measure. See Exhibit 99.2 of Kenon's Form 6-K dated December 5, 2024 Appendix E for the definition of ZIM's Adjusted EBITDA and a reconciliation to its profit/(loss) for the applicable period.

View original content:https://www.prnewswire.com/news-releases/kenon-holdings-reports-q3-2024-results-and-additional-updates-302323869.html

SOURCE Kenon Holdings Ltd.

 

(END) Dow Jones Newswires

December 05, 2024 08:41 ET (13:41 GMT)

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