Kenon Holdings' Q1 OPC Energy net profit falls on higher costs

Kenon Holdings

01/06/2026 11:30

Overview
Power and infrastructure investor's Q1 OPC Energy revenue rose yr/yr, driven by U.S. and Israel sales
OPC's Q1 net profit fell yr/yr due to higher costs and lower profit from associates
Kenon distributed $200 mln dividend and entered collar transaction for OPC shares in Q2

Outlook
Kenon highlights new electricity supply agreement for data centers in Israel with capacity up to 460 MW
Company says Hadera 2 project received building permit for planned 850 MW power plant
OPC signed EPC agreement for Ramat Beka solar project with 550 MW capacity and storage

Result Drivers
U.S. ELECTRICITY SALES - Revenue from U.S. electricity sales rose sharply, mainly due to the consolidation of CPV Shore and increased retail activity
ISRAEL SALES AND TARIFFS - Higher electricity sales to private customers and increased infrastructure service revenue in Israel, supported by higher customer consumption and tariffs
HIGHER COSTS - Cost of sales rose, mainly due to increased natural gas expenses and expanded retail activity in the U.S., weighing on net profit

Company press release: ID:nPn5L2Hwha

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 OPC Revenue
 
$317 mln
 
Q1 OPC Net Income
 
$14 mln
 
Q1 OPC Adjusted EBITDA
 
$124 mln

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)