Israel’s national water company Mekorot published its financial statements on Tuesday for the beginning of 2022. They show that the company recorded a net profit of NIS 75 million, compared with a net profit of NIS 79m. in the corresponding period last year.
A review of the company’s results indicates that total revenues for the first quarter of 2022 amounted to NIS 952m., an increase of approximately 4% compared to total revenues from the corresponding quarter last year. The increase in revenues was achieved despite a decline in tariffs of about 1.5% at the beginning of 2022, as well as a decline in total water consumption in the agricultural sector by about 24%, which is attributed in part to a large amount of precipitation last winter.
The household sector
On the other hand, water consumption for the household sector recorded an increase in the first quarter of the year of 1.7%. In the summary of the data for the first quarter of the year, total water consumption amounted to about 296 million cubic meters, compared with a total consumption of about 318 million cubic meters in the previous year, a decline of about 7%. At the same time, the water supply to the Palestinian Authority and the Kingdom of Jordan recorded an increase compared to the first quarter of 2021 and the first quarter of 2022, from 32 to 41 million cubic meters.
“The company’s activities have grown steadily, both for the needs of the local economy and for neighboring countries. Mekorot will continue to invest in the field of innovation while providing quality water at all times.”
Mekorot CEO Amit Lang