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Group revenues for the first nine months of 2009 totaled NIS 31.8
billion, compared with NIS 39.3 billion in the same period in 2008.
Group revenues in the third quarter of 2009 amounted to NIS 11.9
billion, compared with NIS 13.0 billion in the third quarter of 2008.
The decrease in revenues was primarily as a result of lower fuel
sales in Israel, Europe and the United States, as well as the lower
price of oil and lower revenues from the US refinery which only
restarted operations towards the end of the second quarter.
Net income for the first nine months showed significant improvement
reaching NIS 440 million, compared with a net loss of NIS 371 million
in the same period in 2008. Net income in the third quarter showed
similar improvements reaching NIS 60 million, compared with a net loss
of NIS 612 million reported in the third quarter of 2008. Group total
assets as of September 30, 2009, amounted to NIS 80.9 billion, compared
with NIS 76.7 billion as of December 31, 2008. Delek has raised and
restructured a total of NIS 1.5 billion, all of which is long-term.
Mr. Asaf Bartfeld, continued, "As we move into 2010, we have many
reasons for optimism; in our energy sector, the commercialization of
natural gas from Tamar is drawing ever closer, and we are very excited
with its potential especially following the increased Gross Mean
Resource estimate received at the beginning of the quarter. Furthermore
our existing producing gas reservoir, Yam Tethys, had its strongest
quarter in terms of net income in its history. In addition, I am proud
of the strong increase in market share in Israel that our automotive
business has achieved in the past year reaching 28% as well as the
strong improvement in the performance of our financial service assets.
Finally, the expected closing of the sale of the majority of our
holdings in the HOT cable company at a premium and the resulting
additional cash flow of NIS 400 million proves that by our continued
focus on our core businesses and the continued creation of value, we
expect to remain successful, sharing the rewards with our shareholders."
Delek - the Israel Fuel Company Ltd. Revenues in the
first nine months of 2009 was NIS 3.1 billion, compared with NIS 4.9 in
the same period of last year. Revenue in the third quarter of 2009 was
NIS 1.2 billion, compared with NIS 1.9 in the same period of last year.
Net income in the first nine months of 2009 amounted to NIS 84 million
compared with a net income of NIS 102 million in the same period in
2008. Net income in the third quarter of 2009 amounted to NIS 7 million
compared with a net income of NIS 33 million in the same period in 2008.
PetrolWorld 011209
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