Kenon Holdings (KEN) Q2 2026 earnings summary

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.