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Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Total revenues $ 234,018 $ 212,963 $ 463,780 $ 437,129
Cost of revenues:        
Total cost of revenues 177,123 151,577 333,958 296,933
Gross profit 56,895 61,386 129,822 140,196
Operating expenses:        
Research and development expenses 1,439 1,730 3,981 3,294
Selling and marketing expenses 4,370 4,167 8,542 9,293
General and administrative expenses 19,786 18,026 37,695 37,563
Other operating income (4,269) 0 (7,394) 0
Impairment of long-lived assets 0 957 0 957
Write-off of unsuccessful exploration and storage activities 251 1,379 767 1,379
Operating income 35,318 35,127 86,231 87,710
Other income (expense):        
Interest income 1,929 2,604 3,242 4,443
Interest expense, net (36,682) (33,716) (71,155) (64,684)
Derivatives and foreign currency transaction gains (losses) 5,068 (332) 7,128 (1,914)
Income attributable to sale of tax benefits 16,251 15,798 33,822 33,274
Other non-operating income, net 76 74 298 100
Income from operations before income tax and equity in earnings of investees 21,960 19,555 59,566 58,929
Income tax (provision) benefit 5,466 3,178 9,261 3,325
Equity in earnings of investees 773 1,232 406 2,061
Net income 28,199 23,965 69,233 64,315
Net income attributable to noncontrolling interest (153) (1,722) (825) (3,485)
Net income attributable to the Company's stockholders 28,046 22,243 68,408 60,830
Comprehensive income:        
Net income 28,199 23,965 69,233 64,315
Other comprehensive income (loss), net of related taxes:        
Change in foreign currency translation adjustments 7,547 (266) 10,308 (2,429)
Change in unrealized gains or losses in respect of the Company's share in derivatives instruments of an unconsolidated investment that qualifies as a cash flow hedge (214) 429 (1,110) 939
Other changes in comprehensive income 11 (28) 23 25
Total other comprehensive income (loss), net of related taxes: 8,435 (1,013) 6,334 (986)
Comprehensive income 36,634 22,952 75,567 63,329
Comprehensive income attributable to noncontrolling interest (1,475) (1,620) (2,725) (2,921)
Comprehensive income attributable to the Company's stockholders $ 35,159 $ 21,332 $ 72,842 $ 60,408
Earnings per share attributable to the Company's stockholders:        
Earnings per share, basic (US Dollar per share) $ 0.46 $ 0.37 $ 1.13 $ 1.01
Earnings per share, diluted (US Dollar per share) $ 0.46 $ 0.37 $ 1.12 $ 1.00
Weighted average number of shares used in computation of earnings per share attributable to the Company's stockholders:        
Weighted average number of shares used in computation of basic earnings per share 60,689 60,451 60,624 60,419
Weighted average number of shares used in computation of diluted earnings per share 61,019 60,755 60,973 60,655
Cross currency swap        
Other comprehensive income (loss), net of related taxes:        
Change in unrealized gains or losses in respect of a cross currency swap / interest rate swap derivative instrument that qualifies as a cash flow hedge $ 1,324 $ (1,189) $ (2,142) $ (628)
Interest rate swap        
Other comprehensive income (loss), net of related taxes:        
Change in unrealized gains or losses in respect of a cross currency swap / interest rate swap derivative instrument that qualifies as a cash flow hedge (233) 41 (745) 1,107
Electricity        
Revenues:        
Total revenues 159,912 166,226 340,153 357,479
Cost of revenues:        
Total cost of revenues 121,236 110,515 241,069 227,245
Product        
Revenues:        
Total revenues 59,612 37,829 91,381 62,661
Cost of revenues:        
Total cost of revenues 43,118 32,662 67,802 53,816
Energy Storage        
Revenues:        
Total revenues 14,494 8,908 32,246 16,989
Cost of revenues:        
Total cost of revenues $ 12,769 $ 8,400 $ 25,087 $ 15,872