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Mekorot closes 2024 with NIS 215 million profit

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4 חודשים ago

מרץ 27, 2025

Israel’s national water company, Mekorot, announced a net profit of about NIS 215 million for 2024, showing a 14% increase from NIS 189 million in 2023. The net profit for the company in the fourth quarter reached NIS 49 million, which also represents a 14% rise compared to the same quarter last year.

Mekorot’s total revenue for 2024 reached NIS 5.36 billion, marking a 2.2% increase from NIS 5.25 billion in 2023, partly driven by a 4.9% rise in water sales. At the same time, sales costs fell to NIS 4.82 billion, from NIS 4.91 billion last year. Consequently, the gross profit reached NIS 531 million, showing a notable increase from NIS 335 million in 2023.

Water usage in agriculture increased by 9%, resulting in a total water supply of 1.87 billion cubic meters for 2024, which is 5% higher than in 2023. This total comprised 208.6 million cubic meters provided to Jordan and the PA.

In 2024, Mekorot took substantial financial actions, such as incorporating national water carrier assets and increasing equity by 27% to reach NIS 6.54 billion. The company successfully raised NIS 2.4 billion via bond issuances, with demand exceeding the initial target by threefold. EBITDA rose by 15%, reaching NIS 1.33 billion billion.

CEO Amit Lang emphasized the significance of ongoing investment in infrastructure, especially considering a dry winter and national security challenges. “Mekorot continues its growth trajectory while maintaining a stable water supply throughout Israel,” he stated. “The necessity for expanded development, advanced technology investments, and connecting remote areas to the national water system remains a top priority.”

This article was written in collaboration with Mekorot.

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Rebuilding Jerusalem: Keeping up with the rapid changes in Israel's capital

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2 שבועות ago

יוני 27, 2025

thenewspepoleday

People are seen overlooking Jerusalem. (photo credit: YONATAN SINDEL/FLASH90)
In some cases, change has become so rapid that it is difficult when passing an empty storefront to remember what merchandise was sold from there as recently as a week ago.

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Global energy prices already rising as Iran threatens strategic Strait closure

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3 שבועות ago

יוני 25, 2025

thenewspepoleday

A map showing the Strait of Hormuz and Iran is seen behind a 3D printed oil pipeline in this illustration taken June 22, 2025 (photo credit: REUTERS/DADO RUVIC)
Iran’s threat to block the strait has already sent shock waves through trade and transport sectors, with broader consequences expected if the regime follows through

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Israel to resume natural gas exports when military deems it's safe, energy minister says

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4 שבועות ago

יוני 18, 2025

thenewspepoleday

The platform for Leviathan, Israel’s largest gas field, is viewed from a helicopter near Haifa Bay. (photo credit: ARI RABINOVITCH/REUTERS)
Cohen acknowledged that victory against Iran could take weeks, but Israel's energy demands could be met.