28.38
2.64%
-0.62
Why is Kenon Holdings Ltd (KEN) Stock down?
We've noticed a 5.08% decline in Kenon Holdings Ltd (KEN) stock during the 2024-07-29 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
09 Apr, 2024:
Kenon Holdings' (KEN) stock experienced a decline of 5,4% following the release of its full-year 2023 financial report, which highlighted mixed performance across its subsidiaries, OPC and ZIM. -Report Details: OPC witnessed a decrease in net profit from $65M in 2022 to $47M in 2023, along with a decline in adjusted EBITDA. Similarly, ZIM reported a significant net loss of 2.7 billion dollars in 2023, combined with a non-cash impairment and a decrease in adjusted EBITDA. This results raised concerns among investors as they expected more profits from the two subsidiaries
- Financial challenges: The company's financing activies is facing challenge. While OPC's financing income is falling from $35M ( 2022) to $12M in 2023, their financial expenses are increasing from $49M to $65M.
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