Phoenix Financial Publishes Results for Q2 and H1 2025
TEL-AVIV, Israel, Aug. 25, 2025 /PRNewswire/ -- Phoenix Financial Ltd., a leading Israel-based asset management, insurance, and investment company (TLV:PHOE) ("Phoenix," the "Group," or the "Company," formerly Phoenix Holdings), today reported its results for the first half of 2025 and second quarter of 2025.
Highlights:
Comprehensive income of NIS 1,496 million, or NIS 6.0 per share, and return on equity of 27% for the first half of 2025.
Comprehensive income of NIS 928 million, or NIS 3.7 per share, and return on equity of 35% for the second quarter of 2025.
Continued growth reflected in a 22% increase in core income to NIS 1,318 million in the first half of 2025, with core ROE reaching 24%; this run rate for H1 2025 is within the target range for 2027, and consequently the Company will publish revised strategic targets during the fourth quarter of 2025.
Comprehensive income contribution from non-operating effects was NIS 178 million and NIS 236 million in the first half and first quarter of 2025, respectively.
Growth in Asset Management continued to accelerate to NIS 426 million core income in the first half of 2025, an increase of 44% compared to the corresponding period in 2024.
Phoenix generates high quality cashflow income, and will distribute NIS 400 million, or NIS 1.59 per share, as a dividend from second quarter earnings; total dividends from first half earnings are NIS 630 million.
In addition, the Company is expanding its 2025 share buyback plan from NIS 100 million to NIS 200 million.
In July 2025, the Company reported a transaction to acquire 17% of Phoenix Agencies' shares; upon completion, the Company will increase its holding in Phoenix Agencies to 95% as part of its growth strategy and acceleration of value creation in Phoenix Agencies.
Global index provider MSCI announced Phoenix's shares will be included in the MSCI Israel index.
Total profitability and return on equity
Comprehensive income of NIS 1,496 million in the first half of 2025, or comprehensive income of NIS 6 per share, and a 27% in return on equity; core income (excluding non-operating effects from investments above or below a risk-free interest rate return plus a 2.25% margin, interest rate effects and special items) totaled NIS 1,318 million, reflecting a core ROE of 24%, an increase of NIS 250 million compared to the corresponding half of 2024.
Comprehensive income of NIS 928 million in the second quarter of 2025, or comprehensive income of NIS 3.7 per share, and a 35% in return on equity; core income in the quarter totaled NIS 692 million, reflecting a core ROE of 26%.
Income from non-operating effects totaled NIS 178 million and NIS 236 million in the first half and second quarter of 2025, respectively, mainly due to strong investment performance with an annualized corporate account (nostro) return of 9.3% (nominal) in the first half of 2025, which was offset due to negative interest rate effects and reflect limited interest rate sensitivity for the Group overall.
Target revision, Phoenix has achieved core income run rate within the target range for 2027 ...
