- Kenon Holdings (KEN, Financial) reported a significant net profit increase in Q1 2025 to $26 million, up from $4 million in Q1 2024.
- Kenon distributed a $250 million dividend ($4.80 per share) in April 2025.
- CPV's Basin Ranch project in Texas secured a potential $1 billion subsidized loan, with construction expected in H2 2025.
Kenon Holdings Ltd. (KEN) has announced its financial results for the first quarter of 2025, revealing notable improvements in its performance. The company reported a net profit of $26 million, a significant increase from $4 million in the same period last year, largely driven by a $38 million profit contribution from its subsidiary, CPV.
OPC, Kenon’s main operating subsidiary, saw revenues rise to $183 million from $174 million year-over-year. Its Adjusted EBITDA also improved to $110 million, marking a 15.8% increase from the previous $95 million.
In April 2025, Kenon distributed a substantial cash dividend totaling $250 million, equating to $4.80 per share, demonstrating strong shareholder returns.
Further bolstering its strategic positioning, Kenon's subsidiary CPV completed the acquisition of an additional 20% stake in CPV Shore, now holding approximately 90% of the entity.
In a significant infrastructure development, CPV's Basin Ranch natural gas project in Texas was selected for conditional approval for a $1 billion subsidized loan from Texas Energy Fund. This project, with an estimated construction cost of $1.8-$2.0 billion, is expected to commence in the second half of 2025, marking a major growth venture for the company.
With a robust liquidity position, Kenon reported $640 million in stand-alone cash as of May 28, 2025, with no material debt at the holding company level, providing a strong financial foundation for future endeavors.
