Kenon

Kenon Holdings Ltd. Announces Favorable Ruling in Arbitration Proceeding

Retrieved on: 
Wednesday, October 4, 2023
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The claims and proceeding are described in more detail in Kenon's annual report on Form 20-F for the year ending December 31, 2022 ("Form 20-F").

Key Points: 
  • The claims and proceeding are described in more detail in Kenon's annual report on Form 20-F for the year ending December 31, 2022 ("Form 20-F").
  • The arbitration tribunal concluded that Peru's resolution relating to secondary frequency regulation breached Peru's obligations under Article 10.5 of the Free Trade Agreement.
  • As a result of Peru's breach of the Free Trade Agreement, Peru has been ordered to pay Kenon and IC Power $110.7 million in damages.
  • These statements include statements with respect to the arbitration award, the agreement with a capital provider and other non-historical statements.

Kenon Holdings Welcomes Singapore Maritime Foundation Executive Director Tan Beng Tee and CEO Robert Rosen to its Board of Directors, Appoints Deepa Joseph as Interim CFO

Retrieved on: 
Thursday, July 20, 2023
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Kenon Chairman Mr. Cyril Ducau stated, "We are thrilled to have Tan Beng Tee join our Board of Directors.

Key Points: 
  • Kenon Chairman Mr. Cyril Ducau stated, "We are thrilled to have Tan Beng Tee join our Board of Directors.
  • Ms. Deepa Joseph has been appointed as interim CFO with effect from September 1, 2023.
  • Ms. Joseph currently serves as CFO of Ansonia Holdings Singapore B.V., which owns approximately 60% of Kenon's outstanding shares.
  • Commenting on the organizational changes, Mr. Rosen stated, "We are delighted to have Deepa Joseph join us as CFO.

Kenon Holdings Reports Q1 2023 Results and Additional Updates

Retrieved on: 
Monday, June 5, 2023
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Set forth below is a discussion of significant changes in cost of sales between Q1 2023 and Q1 2022.

Key Points: 
  • Set forth below is a discussion of significant changes in cost of sales between Q1 2023 and Q1 2022.
  • Finance expenses, net in Q1 2023 was $5 million, which is largely in line with Q1 2022 of $6 million.
  • The average freight rate in Q1 2023 was $1,390 per TEU, as compared to $3,848 per TEU in Q1 2022.
  • ZIM's Adjusted EBITDA6 in Q1 2023 was $373 million, as compared to $2.5 billion in Q1 2022.