Delek Israel, Yitzhak Tshuva, posted a third quarter increase of 243% in net profit - the highest i

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Fuel companies lord and taylor locations summarize a year of operation after the issuance of the order to reduce the marketing lord and taylor locations margin, try to fight against it by all means. After the dust settled a clear picture emerges: breast was not as bad as painted by him at first and the companies were able to recover and return to a path of rapid growth in profitability
September lord and taylor locations 2011, the Ministry of Finance dealt a heavy blow to oil companies as reduced marketing margin on petrol at filling stations at 11.3 cents per liter of gasoline. In response, the oil companies have established a great outcry, claiming that the reduction in the margin lord and taylor locations will result in a significant deterioration in their business results. Just two weeks ago the Supreme Court rejected the petition filed by the oil companies against the order to reduce the marketing margin. But then came the third quarter reports, and surprised everyone: the blow, it turns out, did not last long.
The aggregate net profit of four of Israel's largest oil companies in the third quarter jumped 76% year-over-year to $ 165 million. Fueling sector and trade, hit by late last year following the reduction of the marketing margin, recorded a strong recovery thanks to aggressive streamlining of the companies.
Delek Israel, Yitzhak Tshuva, posted a third quarter increase of 243% in net profit - the highest improvement of the four oil companies. Company dramatic improvement in results primarily responsible for fueling sector and trade, lord and taylor locations introduced in the third quarter increase of 48% in operating profit year over year, to 29 million. Another contributory factor complexes regarding efficiency lord and taylor locations of gas stations, reducing discounts to customers and increase the profits of stock of 3 million. In addition, the convenience store revenue in the third quarter grew by 7% due to an increase in the number of stores and same store sales. lord and taylor locations
On June 17 lowered the credit lord and taylor locations rating company lord and taylor locations Midroog's lord and taylor locations debt rating Delek Israel from A2 to BBB1, leading to an increase of 0.5% in the interest rate of the bond C and D of the company. However, financial expenses in Delek Israel Tuesday was lower by 8 million over the third quarter due to a decline in gross financial lord and taylor locations debt.
What clouded the Delek Israel's report was its subsidiary Delek Europe (20%), which contributed to the third quarter only 4 million net profit compared with 8 million last year. Moreover, it seems Sldlk Europe is difficult debt service Delek Israel lord and taylor locations - the balance of investment The last of the subsidiary company includes a loan of $ 271 million, Hearsay
D original repayment is to be the month. However, recently reported that the two companies have agreed on the postponement of repayment and deployed for 2014-2015. Delek Israel in exchange for a guarantee debt restructuring consent of Delek Group, which holds 80% of the fuel to Europe, to repay the debt on the new date set.
Results of Dor Alon, controlled by David Weissman, in the third quarter were mixed. Improvement in the fueling sector lord and taylor locations and trade, which rose by 3.8 million in operating income over the first quarter, offset in full following the same reduction in direct marketing margins due to a decrease LPG (cooking gas). As a result, operating lord and taylor locations income in the third quarter remained at its previous year and amounted to - 55.5 million.
However, Dor Alon introduced in the third quarter increase of 96% in net profit thanks to financing. Net financial expenses decreased in the quarter to 32.4 million from 46 million last year - a drop of 30% resulting from a successful natural protection in light of the sharp depreciation in the exchange lord and taylor locations rate of the shekel.
In contrast to the lukewarm operating income of Dor Alon, the cash flow statement lord and taylor locations brought the ranks of investors shares in the company and its bondholders. Generation of cash flow from operating activities totaled oak in the third quarter compared to 196 million NIS 29.5 million in the same quarter last year, when the increase in cash flow from operating activities derives mainly from a fair
The working capital. Cash flows used also considerable investment in the third quarter drop to 36 million, compared to 132 million last year, thanks to lower the volume of loans granted by Dor Alon. Israel Yaniv, CEO of Dor Alon, said in a conversation with "Calcalist" that "we overcome the problem of marketing lord and taylor locations margins by streamlining. One bright lord and taylor locations spot is the strong cash flow that comes a reduction in credit to customers, reducing designed to reduce risks and enhance liquidity. "
Third quarter results Paz, controlled by Bino, presented at the Ashdod refinery recovery due to an increase in the refining margin. Rising oil prices in the third quarter to about 117 dollars per barrel, combined with the closure of refineries in Europe and the United States, led to an increase in refining margins inductive lord and taylor locations (Quote of the refining margin in the Mediterranean Basin, which is an indication of trends in the refining margin in Israel). lord and taylor locations These rose in the third quarter to 5.1 dollars lord and taylor locations per barrel lord and taylor locations compared to 1.2 dollars per barrel last year.
This lack of refinery requires Paz Ashdod increased use of alternative fuels, which brings lord and taylor locations additional cost and damage profitability of Paz. By way of illustration, injury Paz's lord and taylor locations operating profit this year natural gas supply reduction amounts to approximately 120 million.
The retail sector and trade in gold - which includes gas stations, convenience stores as well as direct marketing, shown separately in greater fuel companies - showed no significant change. One reason is the rapid response to the new reality in Paz already last year and an improvement in the Yellow convenience stores. The total sales of Paz convenience stores in the third quarter amounted to NIS 191 million, compared with NIS 180 million last year - an increase of 6.1% primarily due to an increase of 6.3% in same store sales. From