Israel Corp. Reports Results for Fourth Quarter of 2020

TEL AVIV, Israel, March 21, 2021 /PRNewswire/ -- Israel Corporation Ltd. (TASE: ILCO) ("IC") announced its fourth quarter and annual results for the period ending December 31, 2020.

Debt Balances and Liquidity at the IC Headquarters Level1As of December 31, 2020, total financial liabilities1 were $1,711 million, and investments in liquid assets amounted to $635 million of which $12 are pledged deposits.

Net debt1 as of December 31, 2020 totaled $1,016 million. The net debt includes the fair value of derivatives transactions, which decrease the economic value of the financial liabilities in the amount of $60 million. As of September 30, 2020, the net debt1 was $1,018m.

Additional updatesFollowing the outbreak of the Corona Virus (COVID-19) in China in December 2019, and its spread to many other countries in 2020, there has been a decline in economic activity in many regions of the world and in Israel as well.

As a holding company, the financial results of IC are mainly affected by the results of its held companies. For more details see detailed financial report.

About Israel CorporationIsrael Corporation Ltd. (TASE: ILCO) ("IC") is a reputable public investment company, which owns and invests in high quality companies with established managements and go-to markets.

In November 2019, IC announced its updated strategy, IC plans to expand its portfolio through new investments in total amount of $350m-500m over the next few years. IC plans to focus mainly in the food (inc. tech), agriculture (inc. tech), healthcare and industry 4.0 sectors. For more details please see the following link to IC updated Strategy Presentation

IC strives to generate return on our investment through active board participations and our operational and managerial expertise.

IC current core holdings include c.46% stake in ICL Group (NYSE:ICL, TASE: ICL) and a c.33% stake in the Bazan Group (TASE: ORL). IC is publicly traded on the Tel Aviv Stock Exchange under the ticker ILCO.

For further information on IC, see IC's publicly available filings, which can be found on the Tel Aviv Stock Exchange website at http://maya.tase.co.il.

Please also see IC company website http://www.israelcorp.com for additional information.

Convenience TranslationThe financial information found in this press release is an English summary based on the original Hebrew financial statements and is solely for the convenience of the reader. The binding version is the original in Hebrew.

Forward Looking StatementsThis press release may contain forward-looking statements, which may not materialize and are subject to risks and uncertainties that are not under the control of IC, which may cause actual results to differ materially from those contained in the disclosures.

Investor Relations ContactsIdan HizkiSenior Director, Business Development & Investor RelationsTel: +972 3 684 4500[email protected]

1 Israel Corp and its wholly owned and controlled headquarter companies.2 As of December 31, 2020.

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SOURCE Israel Corporation Ltd.