Continued to grow: jump in OPC profit — revenues jumped by 94%
OPC reported a successful second quarter with revenues jumping 94% to $379 million and adjusted net profit rising to $34 million. The growth was driven by increased ownership in US assets and a shift to dollar-denominated reporting.
OPC has released a strong financial report for the second quarter, benefiting from increased energy margins in its US operations and the shift to reporting in dollars, which, given the dollar's weakness against the shekel, boosted the results of its Israeli sector.
The company, which operates power plants in the USA and Israel, saw its revenues jump by 94% compared to the same quarter last year, reaching $379 million. EBITDA rose by 46% to $131 million, while adjusted net profit soared from $5 million in the second quarter of 2025 to $34 million.
The improved results stem from the consolidation of US assets after increasing ownership to 100% in two power plants. Furthermore, the company benefited from sustained electricity demand in the US, coupled with supply constraints at competing stations. The combination of rising electricity prices and lower natural gas costs led to a significant expansion of energy margins.
A technical change in the reporting method—switching from shekels to dollars—also contributed to the bottom line; 8 million shekels of the 10 million shekel increase in quarterly EBITDA from Israeli operations are attributed to this accounting shift.
OPC, controlled by Idan Ofer through Kenon and managed by Giora Almogi, currently holds a market value of 27.9 billion shekels. After reaching a record value of 41.9 billion shekels in late May, the stock has since declined by 33%. This pullback is attributed to profit-taking by investors and concerns regarding potential regulatory restrictions in the US market.
