Core Asset PerformanceKenon’s largest investee, OPC, delivered materially stronger 2025 operating results, boosting adjusted EBITDA and net profit. Durable improvement at OPC increases Kenon’s potential dividend and cash-return capacity and raises the baseline for recurring investment income over the medium term.
Consistent Operating Cash FlowKenon’s holding-level operations show steady operating cash generation, providing a reliable internal funding source for dividends, capex at investees, and liquidity needs. Positive OCF supports sustainable distributions even if free cash flow of the group is episodic.
Project Pipeline And Capacity Build-outRegulatory approvals and equipment contracts for Hadera 2 signal tangible progress on a large baseload expansion. If executed, additional generation capacity should strengthen market position, diversify revenue streams and create long-lived cash flows tied to essential infrastructure.