Delek Group Reports 24% Revenue Growth and 78% Profit Surge in Q2 2026

Delek Group, controlled and managed by Yitzhak Tshuva and Idan Wols respectively, announced strong financial results for the second quarter of 2026. The group recorded a 24.2% increase in revenues, reaching approximately 1 billion shekels, and a 78.4% rise in net profit attributable to shareholders, totaling 314 million shekels. Overall revenues across all sectors amounted to 4.4 billion shekels. The gross profit margin stood at 47.1%, improving from the previous quarter but lower than the same quarter last year, while operating profit rose to 650 million shekels from 371 million shekels year-over-year.

In the oil and gas sector, primarily through NewMed Energy, Delek reported gas sales revenues of 254 million dollars after royalties, showing double-digit growth compared to both the previous quarter and the same quarter last year, despite operational disruptions during the "Roaring Lion" military operation. Net profit from this segment was 65 million dollars, up from 44 million dollars, driven by increased volume and prices of natural gas and condensate sold. In the North Sea operations via Ithaca Energy, revenues grew 9.2% to 808 million dollars, with EBITDAX increasing 18.5% to 550 million dollars. Average daily production rose about 9% to 130,600 barrels of oil equivalent per day.

Alongside the earnings report, Delek declared a dividend distribution of 250 million shekels (about 1.36 shekels per share), with controlling shareholder Tshuva receiving approximately 126 million shekels. Isracard, another group company, also posted positive results, with a record issuance of 2.1 million non-bank cards, mainly FLY CARDs.

CEO Idan Wols emphasized the group's strong portfolio and consistent strategy execution, highlighting operational growth in energy production and infrastructure projects that expand output and exports. He also noted strategic moves including the listing of Delek Initiatives and a 1:10 capital split to enhance shareholder value and liquidity. Delek Group is traded on the Tel Aviv Stock Exchange with a market capitalization of 14.9 billion shekels and saw positive stock momentum following the report.