Israel Corp. Reports Results for Third Quarter of 2024

Israel Corp. (TASE: ILCO) has released its third-quarter results for 2024, offering insights into the company's financial performance and strategic direction. The report highlights key metrics, liquidity position, and credit rating evolution, providing valuable information for investors and stakeholders.



Key Financial Highlights
Israel Corp.'s net profit for the third quarter of 2024 was $49 million, a slight decrease from $58 million in the same period last year. The company's share in ICL profit also decreased to $49 million from $59 million year-over-year. Despite these declines, Israel Corp.'s liquidity position improved, with net cash increasing to $84 million from $64 million in the previous quarter.



Liquidity Position and Credit Rating
Israel Corp.'s liquidity position was bolstered by a net cash total of $84 million, up from $64 million in the previous quarter. This growth in net cash positions the company favorably, providing flexibility for potential acquisitions or investments. The company's credit rating was reaffirmed at ilA+/stable by S&P Maalot, reflecting its strong financial position and management's ability to navigate market fluctuations.

Strategic Initiatives and Core Holdings
Israel Corp. has expanded its portfolio through strategic investments in sectors like food, agriculture, healthcare, and industry 4.0. These sectors are expected to drive long-term growth. The company's core holdings, including a 44% stake in ICL Group and an 18% stake in AKVA Group, contribute to its stability and growth prospects. ICL Group, a global specialty minerals and chemicals company, contributed $49 million to Israel Corp.'s profit, while AKVA Group, a leading global provider of land-based aquaculture technology, added $35 million to Israel Corp.'s total assets.



In conclusion, Israel Corp.'s third-quarter 2024 results demonstrate the company's ability to manage its financial performance and liquidity position effectively. Despite a slight decrease in net profit, the company's strategic initiatives and core holdings position it well for long-term growth. Investors should consider Israel Corp.'s strong financial health and robust management when evaluating its investment potential.

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