NewMed Energy LP (XTAE:NWMD)
₪ 10.26 0.306 (3.07%) Market Cap: 12.04 Bil Enterprise Value: 17.42 Bil PE Ratio: 6.72 PB Ratio: 1.95 GF Score: 72/100
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Q2 2024 Newmed Energy LP Earnings Call Transcript

Aug 08, 2024 / 09:00AM GMT
Release Date Price: ₪9.35 (+3.77%)
Yossi Abu
Newmed Energy LP - CEO

Good noon for everybody, and thank you for joining us for the second-quarter financial result. We'll take you through the second-quarter results. But as well, we will discuss some of our expansion activities. And in the end, if you have any questions, we'll be more than happy to the Chinese.

So the key highlights of the second quarter is obviously the sales. We sold 2.8 BCM, which is equivalent to 1.1 bcf a day, and we end up with the $137 million net profit and EBITDA -- higher than $200 million EBITDA.

We are continuing with the flow line of Leviathan, and the budget is on time, on budget. We are expecting to and finish this project by mid-next year. And by that, we would increase the capacity of Leviathan from the current capacity to around 1.45 or 1.5 bcf a day, so almost 15 BCM yearly.

And more than that, as you know, we just take investment decision to do FEED, both engineering and design of Leviathan Phase 2. We'll take you through that. We'll explain what it is, what we are going to do. And we'll discuss as well the financial result.

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