Delek Group: 1 Billion Shekel Revenue and 78.4% Profit Surge
The company concludes a positive quarter with double-digit growth in revenue and net profit, supported primarily by increased sales of natural gas and condensate. CEO Idan Wallace stated: "We continue to strengthen and enhance the group's core assets."
Delek Group concluded the second quarter of 2026 with a 24.2% increase in revenue, reaching approximately 1 billion shekels, and a 78.4% rise in net profit attributable to shareholders, totaling 314 million shekels. The group's total revenue across all business segments amounted to 4.4 billion shekels.
Delek Group, controlled by Yitzhak Tshuva and managed by Idan Wallace, operates in oil and gas exploration and production in Israel and abroad, while controlling Isracard, Mehadrin, and Delek Israel.
The gross profit margin for the second quarter stood at 47.1%. Operating profit reached 650 million shekels, up from 371 million shekels in the same quarter last year.
In the Israeli oil and gas production sector, primarily through NewMed Energy, revenue from gas sales net of royalties totaled 254 million dollars. Net profit from this activity reached 65 million dollars, compared to 44 million dollars in the same quarter last year, driven by higher volumes and prices for natural gas and condensate.
In the North Sea exploration and production activity (Ithaca), revenue from oil and gas sales grew by 9.2% to 808 million dollars, while EBITDAX rose by 18.5% to 550 million dollars. Average daily production increased by approximately 9% to 130.6 thousand barrels of oil equivalent per day (KBOE/d).
The group announced a dividend distribution of 250 million shekels (approximately 1.36 shekels per share).
Isracard Performance and Strategic Moves
CEO Idan Wallace stated: "Delek Group concludes the second quarter of 2026 with strong results reflecting the quality of our asset portfolio. Our core business engines continue to generate significant cash flows in line with our work plans."
Wallace highlighted that Isracard continues to execute its strategic plan, showing growth in revenue and net profit, alongside a record pace of issuing non-bank cards. As of the report's publication, the volume reached 2.1 million cards, an increase of 200,000 cards from the previous quarter.
"We have completed two significant strategic moves, including the listing of Delek Initiatives and a 1:10 stock split to unlock shareholder value and increase liquidity," Wallace added.
Delek Group is currently traded on the stock exchange with a market capitalization of 14.9 billion shekels, with shares showing a positive trend following the report.
