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Kenon Holdings (KEN) investor relations material
Kenon Holdings Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Received $93 million (net) from the Republic of Peru in August 2026, concluding an arbitration award matter.
OPC's net profit for Q2 2026 was $15 million, up from $1 million in Q2 2025.
OPC's Adjusted EBITDA including associated companies was $131 million in Q2 2026, up from $90 million in Q2 2025.
OPC completed financial closing and began construction of the Hadera Expansion Project in June 2026.
OPC issued NIS 600 million (approx. $202 million) of Series E bonds in August 2026.
Financial highlights
OPC's Q2 2026 revenue was $379 million, up $183 million year-over-year.
Cost of sales (excluding depreciation and amortization) increased by $115 million to $265 million in Q2 2026.
Finance expenses, net, were $22 million in Q2 2026, compared to $20 million in Q2 2025.
OPC's share of profit from associated companies decreased by $17 million year-over-year.
Outlook and guidance
Forward-looking statements highlight risks related to project execution, financing, and regulatory approvals.
- Q2 2024 saw robust profit growth, capital raises, and expanded renewables investment.KEN
Q2 2024 - Legal wins, strong revenue growth, and a $200M dividend mark a robust quarter.KEN
Q1 2024 - Q3 2024 saw robust profit at ZIM, steady OPC results, and major capital actions.KEN
Q3 2024 - $250M dividend, ZIM exit, OPC growth, and ongoing Qoros legal actions define the year.KEN
Q4 2024 - Q2 2025 saw revenue and EBITDA growth, major equity raises, and Hadera 2 project approval.KEN
Q2 2025 - Q1 profit and EBITDA surged, with major U.S. project progress and a $250M dividend paid.KEN
Q1 2025 - Q3 2025 delivered robust profit growth, project milestones, and enhanced liquidity.KEN
Q3 2025 - 2025 profit and revenue surged, dividend approved, and U.S. retail energy sales expanded.KEN
Q4 2025 - Revenue up, net profit down; major dividend, new projects, and collar transaction highlight Q1.KEN
Q1 2026
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