Kenon Holdings Reports Full Year 2019 Results and Additional Updates
Kenon Holdings Ltd. Ordinary Shares (KEN)
US:NYSE Investor Relations:
kenon-holdings.com/investor-relations.aspx
Company Research
Source: PR Newswire
SINGAPORE, April 30, 2020 /PRNewswire/ -- Kenon Holdings Ltd. (NYSE: KEN) (TASE: KEN) ("Kenon") announces its results for 2019 and additional updates to its businesses.Key Highlights QorosIn April 2020, Kenon completed the sale of half of its remaining interest in Qoros (i.e. 12%) to the majority shareholder in Qoros Automotive Co., Ltd. ("Qoros") and received full payment of RMB1,560 million (approximately $220 million). As a result, Kenon now holds a 12% interest in Qoros, the majority shareholder holds 63% and Chery owns 25%. In addition, in December 2019 and April 2020, Kenon received aggregate cash payments of $17 million from Chery in connection with reductions in Chery's guarantee obligations resulting from repayments under Qoros' bank loans.OPCOPC Energy Ltd.'s ("OPC") financial results for 2019: - OPC's revenues in 2019 increased to $373 million, as compared to $363 million in 2018. - OPC's net profit in 2019 increased to $34 million, as compared to $26 million in 2018.
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Sec Filings
- 11/22/24 - Form 6-K
- 11/14/24 - Form 6-K
- 11/13/24 - Form 6-K
- KEN's page on the SEC website