Kenon Holdings Ltd.

Quarterly Report • May 30, 2019

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF A FOREIGN ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934

May 30, 2019

Commission File Number 001-36761

Kenon Holdings Ltd.

1 Temasek Avenue #36-01 Millenia Tower Singapore 039192 (Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ☐ No ☒

If ''Yes'' is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

EXHIBITS 99.1 AND 99.2 TO THIS REPORT ON FORM 6-K ARE INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-201716) OF KENON HOLDINGS LTD. AND IN THE PROSPECTUSES RELATING TO SUCH REGISTRATION STATEMENT.

• 99.1 Press Release, dated May 30, 2019: Kenon Holdings Reports Q1 2019 Results and Additional Updates
• 99.2 Q1 2019 Summary Financial Information of Kenon and OPC and Reconciliation of Certain non-IFRS Financial Information

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

KENON HOLDINGS LTD.

Date: May 30, 2019 By: /s/ Robert L. Rosen Name: Robert L. Rosen Title: Chief Executive Officer

3

Exhibit 99.1

Kenon Holdings Reports Q1 2019 Results and Additional Updates

Singapore, May 30, 2019. Kenon Holdings Ltd. (NYSE: KEN, TASE: KEN) ("Kenon") announces its results for Q1 2019 and additional updates to its businesses.

Key Highlights

OPC

As previously reported, in April 2019 the Israeli Electricity Authority ("EA") granted OPC a conditional license for the construction of the Tzomet power plant.

OPC's revenue of \$97 million in Q1 2019 was comparable to revenue of \$101 million in Q1 2018.

OPC's net profit of \$14 million in Q1 2019 was comparable to net profit of \$16 million in Q1 2018.

OPC's EBITDA¹ in Q1 2019 decreased to \$30 million, as compared to \$35 million in Q1 2018.

Qoros

The process to obtain the required approvals for the previously reported agreement to sell half (12%) of Kenon's remaining interest (24%) in Qoros to the majority shareholder in Qoros for a purchase price of RMB1,560 million (approximately \$226 million) continues to progress.

Discussion of Results for the Three Months ended March 31, 2019

Kenon's consolidated results essentially comprise the consolidated results of OPC Energy Ltd. ("OPC"). The results of Qoros Automotive Co., Ltd. ("Qoros") and ZIM Integrated Shipping Ltd. ("ZIM") are reflected under results from associates.

See Exhibit 99.2 of Kenon's Form 6-K dated May 30, 2019 for summary Kenon consolidated financial information; summary OPC consolidated financial information; a reconciliation of OPC's EBITDA (which is a non-IFRS measure) to net profit and summary operational information of OPC's generation businesses.

OPC

The following discussion of OPC's results of operations is based on OPC's consolidated financial statements, which are denominated in New Israeli Shekels (NIS) and translated into US dollars for purposes of Kenon's reporting.

Summary Financial Information of OPC

	Q1 2019	Q1 2018
		\$ millions
Revenues	97	101
Cost of sales	61	63
Finance Expenses, net	5	5
Net profit	14	16
EBITDA	30	35

Revenue

	Q1 2019	Q1 2018
		\$ millions
Revenue from energy generated by OPC and sold to private customers	71	72
Revenue from energy purchased by OPC and sold to private customers	2	2
Revenue from private customers in respect of infrastructures services	19	22
Revenue from energy sold to the System Administrator	1	1
Revenue from sale of steam	4	4
Total	97	101

1 EBITDA is a non-IFRS measure. See Exhibit 99.2 of Kenon's Form 6-K dated May 30, 2019 for the definition of OPC's EBITDA and a reconciliation to its net income for the applicable period. OPC's revenue from the sale of electricity to private customers derives from electricity sold at the generation component tariffs, as published by the EA, with some discount. The weightedaverage generation component tariff for 2019, as published by the EA in January 2019, is NIS 0.2909 per KW hour. In 2018, the weighted-average generation component tariff was NIS 0.2816 per KW hour. OPC's revenues from sale of steam are linked partly to the price of gas and partly to the Israeli Consumer Price Index (CPI).

Revenue from energy generated by OPC and sold to private customers – decreased by \$1 million in Q1 2019, as compared to Q1 2018. As OPC's revenue is denominated in NIS, translation of its revenue to US Dollars had a negative impact of \$4 million. Excluding the impact of exchange rate fluctuations on the translation of OPC's revenues, OPC's revenues increased by \$3 million, primarily as a result of the increase of the generation component in January 2019.

Revenue from private customers in respect of infrastructures services – decreased by \$3 million in Q1 2019, as compared to Q1 2018. Translation of OPC's revenue to US Dollars had a negative impact of \$1 million. Excluding the impact of exchange rate fluctuations on the translation of OPC's revenues, OPC's revenues decreased by \$2 million, primarily as a result of a decrease in the infrastructure services tariffs in January 2019.

Cost of sales (Excluding Depreciation and Amortization)

	Q1 2019	Q1 2018
	\$ millions
Natural gas and diesel oil consumption	35	34
Payment to IEC for infrastructure services and purchase of electricity	20	24
Natural gas transmission	2	2
Operating expenses	4	3
Total	61	63

Natural gas and diesel oil consumption – increased by \$1 million in Q1 2019, as compared to Q1 2018, primarily due to an increase in OPC's natural gas price, reflecting the increase in the generation component, as OPC's gas price is indexed to the generation component tariff.

Payment to IEC for infrastructures services and purchase of electricity – decreased by \$4 million in Q1 2019, as compared to Q1 2018. Translation of OPC's cost of sales to US Dollars had a negative impact of \$1 million. Excluding the impact of exchange rate fluctuations, payment to the IEC for infrastructure services and purchase of electricity decreased by \$3 million, primarily due to a decrease in the infrastructure tariffs in January 2019.

Net profit

Net profit decreased by \$2 million in Q1 2019 as compared to Q1 2018, primarily as a result of the reasons discussed above, partially offset by a \$2 million decrease in tax expenses.

Liquidity and Capital Resources

As of March 31, 2019, OPC had cash and cash equivalents and short term deposits of \$151 million, restricted cash of \$80 million, and total outstanding consolidated indebtedness of \$603 million, consisting of \$28 million of short-term indebtedness and \$575 million of long-term indebtedness. All of OPC's debt is denominated in NIS.

2

Business Developments

Update on the Construction of the OPC-Hadera Plant

OPC-Hadera is constructing a 148 MW co-generation power plant in Israel. OPC expects that the total cost of completing the OPC-Hadera plant will be approximately NIS 1 billion (approximately \$275 million).

Construction of the OPC-Hadera plant began in June 2016. As of March 31, 2019, OPC-Hadera had invested an aggregate of NIS 837 million (approximately \$230 million). Commercial operation of OPC-Hadera plant is expected in the fourth quarter of 2019 - this takes into account delays that occurred during the construction, including the timetable for replacement of an additional faulty component discovered during performance of the construction work. OPC-Hadera is entitled to compensation from the EPC contractor in respect of delay in completion of the construction, and OPC-Hadera has insurance coverage for loss of profits.

Update on Tzomet Project

Tzomet Energy Ltd. ("Tzomet") is developing an open-cycle natural gas-fired power station with capacity of approximately 396 MW in Israel.

In April 2019, following the approval of the Business Concentration Committee, the EA granted Tzomet a conditional license for the construction of the Tzomet power plant.

Qoros²

Agreement to sell 12% of Qoros

As previously reported, in January 2019, Kenon entered into an agreement to sell half (12%) of its remaining interest (24%) in Qoros to the majority shareholder in Qoros for a purchase price of RMB1,560 million (approximately \$226 million). The sale is subject to obtaining relevant third party consents and other closing conditions, including approvals by relevant government authorities. The parties are in the process of seeking these consents and approvals. Following completion of the sale, Kenon will hold a 12% interest in Qoros, the majority shareholder in Qoros will hold 63% and Chery Automobile Co. Ltd. will own 25%.

Qoros Sales

Qoros reported that the entity introduced by the majority shareholder in Qoros, which made significant purchases during 2018, paused making purchases in Q1 2019 and resumed purchase orders in Q2 2019 as per the internal plan. Qoros also reported that orders from dealers were negatively impacted this quarter by, among other factors, the changing regulation in some provinces in China from the "China 5" to the "China 6" emission standard and by the general challenging auto market conditions in China which saw a 14% year-on-year decline in wholesale volumes in Q1. As a result of the foregoing, Qoros saw a substantial decline in wholesale sales in the quarter, selling approximately 800 cars in Q1 2019.

ZIM

Discussion of ZIM's Results for Q1 2019

ZIM carried approximately 668 thousand TEUs in Q1 2018, representing a 4% decrease as compared to Q1 2018, in which ZIM carried approximately 698 thousand TEUs. The average freight rate per TEU in Q1 2019 was \$1,019 per TEU, as compared to \$938 per TEU in Q1 2018, representing a 9% increase.

ZIM's revenues increased by 6% in Q1 2019 to approximately \$796 million, as compared to approximately \$751 million in Q1 2018, due to the increase in the average freight rate. ZIM's operating expenses and cost of services increased by 1% in Q1 2019 to approximately \$703 million, as compared to approximately \$698 million in Q1 2018.

2 Convenience translations of RMB amounts into US Dollars use a rate of 6.9: 1.

Additional Kenon Updates

Kenon's (Unconsolidated) Liquidity and Capital Resources

As of March 31, 2019, Kenon's unconsolidated cash balance was \$35 million. There is no remaining material debt at the Kenon level.

Kenon is the beneficiary of a four-year deferred payment agreement, effective December 31, 2017, reflecting deferred consideration from the sale of its Inkia power businesses, accruing 8% interest, payable in kind (total payable as at March 31, 2019 including principal and accrued interest is \$193 million). The deferred payment is subject to tax.

In March 2019, OPC declared a dividend of approximately \$10 million which resulted in a dividend receipt by Kenon of approximately \$7 million in Q2 2019.

Investors' Conference Call

Kenon's management will host a conference call for investors and analysts on May 30, 2019. Kenon's and OPC's management will host the call and will be available to answer questions after presenting the results. To participate, please call one of the following teleconferencing numbers:

Singapore:	3158-3851
US:	1-866-652-8972
Israel:	03- 9180687
UK:	0-800-051-8913
International:	+65-3158-3851

About Kenon

Kenon is a holding company that operates dynamic, primarily growth-oriented businesses. The companies it owns, in whole or in part, are at various stages of development, ranging from established, cash-generating businesses to early stage development companies. Kenon's businesses consist of:

OPC Energy (76% interest) – a leading owner, developer and operator of power generation facilities in the Israeli power market;

Qoros (24% interest³) – a China-based automotive company;

ZIM (32% interest) – an international shipping company; and

Primus Green Energy, Inc. (91% interest) – an early stage developer of alternative fuel technology.

Kenon remains committed to its strategy to realize the value of its businesses for its shareholders. In connection with this strategy, Kenon may provide its shareholders with direct access to its businesses, which may include spin-offs, listings, offerings, distributions or monetization of its businesses. Kenon is actively exploring various ways to materialize this strategy in a rational and expeditious manner. For further information on Kenon's businesses and strategy, see Kenon's publicly available filings, which can be found on the SEC's website at www.sec.gov. Please also see http://www.kenon-holdings.com for additional information.

3 Kenon has agreed to sell half of its 24% interest to the majority shareholder in Qoros; upon completion of this sale, Kenon will hold a 12% interest in Qoros.

4

Caution Concerning Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to statements about (i) with respect to OPC, statements with respect to the OPC-Hadera and Tzomet projects, including receipt of the conditional license, expected installed capacity, expected cost, and expected timing of the completion, commercial operation and financing of the project as well as the impact of the delay in Hadera construction and related compensation and insurance, (ii) with respect to Qoros, statements with respect to the agreement by Kenon to sell half of its remaining interest in Qoros to the majority shareholder in Qoros, that the parties are in the process of obtaining the required approvals and statements with respect to market conditions, regulations, sales and other trends impacting Qoros' results and (iii) other non-historical matters. These statements are based on Kenon's management's current expectations or beliefs, and are subject to uncertainty and changes in circumstances. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Kenon's control, which could cause the actual results to differ materially from those indicated in such forwardlooking statements. Such risks include (i) with respect to OPC, risks relating to a failure to complete the development and reach commercial operation of the OPC-Hadera and Tzomet projects on a timely basis, within the expected budget, or at all, including risks related to license and other approvals required to proceed with the Tzomet project and costs associated with delays in reaching commercial operation, (ii) with respect to Qoros, risks relating to the agreement to sell half of Kenon's remaining interest in Qoros to the majority shareholder in Qoros, including the risk that the parties may be unable to obtain required consents including regulatory approvals and other risks relating to the closing of that transaction and risks relating to Qoros' markets, regulation, sales and other factors impacting its results (iii) other risks and factors, including those risks set forth under the heading "Risk Factors" in Kenon's Annual Report on Form 20-F filed with the SEC and other filings. Except as required by law, Kenon undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact Info

Kenon Holdings Ltd. Jonathan Fisch Director, Investor Relations jonathanf@kenon-holdings.com Tel: +44 20 7659 4186

Financial Information for the Three Months Ended March 31, 2019 of Kenon and OPC and

Reconciliation of Certain non-IFRS Financial Information

Table of Contents

Appendix A: Summary of Kenon's Consolidated Financial Information

Appendix B: Summary of OPC's Consolidated Financial Information

Appendix C: Definition of OPC's EBITDA and non-IFRS reconciliation

Appendix D: Summary Financial Information of OPC's Subsidiaries

Appendix E: Summary Operational Information of OPC

Summary of Kenon's Consolidated Financial Information

Kenon Holdings Ltd. and subsidiaries

Consolidated Statements of Financial Position as of March 31, 2019 and December 31, 2018

	As of March 31,	As of December 31, 2018
	2019
	(Unaudited)
		\$ millions
Current assets Cash and cash equivalents
Short-term investments and deposits	161 51	131 50
Trade receivables, net	33	36
Other current assets, including derivatives	30	41
Assets held for sale	70	70
Total current assets	345	328
Non-current assets
Investments in associated companies	142	161
Deposits, loans and other receivables, including derivative instruments	148	140
Deferred payment receivable	193	189
Deferred taxes, net	1	1
Property, plant and equipment, net (including right-of-use asset)	659	635
Intangible assets, net	1	1
Total non-current assets	1,144	1,127
Total assets	1,489	1,455
Current liabilities
Loans and debentures	28	23
Trade payables	58	48
Other payables, including derivative instruments and liabilities in respect of leases	22	12
Income tax payable	6	7
Total current liabilities	114	90
Non-current liabilities
Loans, excluding current portion	497	488
Debentures, excluding current portion	78	75
Other non-current liabilities	6	-
Deferred taxes, net	66	59
Income tax payable	27	27
Total non-current liabilities	674	649
Total liabilities	788	739
Equity
Share capital	602	602
Translation reserve	(1)	1
Capital reserve	17	17
Accumulated profit	16	29
Equity attributable to owners of the Company	634	649
Non-controlling interests	67	67
Total equity	701	716
Total liabilities and equity	1,489	1,455

Kenon Holdings Ltd. and subsidiaries Unaudited Consolidated Statements of Profit & Loss for the three months ended March 31, 2019 and 2018

		For the three months ended March 31,
	2019	2018
		\$ millions
Revenue	97	101
Cost of sales and services (excluding depreciation)	(61)	(63)
Depreciation	(7)	(8)
Gross profit	29	30
Selling, general and administrative expenses	(10)	(7)
Financing expenses	(6)	(6)
Financing income	4	2
Financing expenses, net	(2)	(4)
Gain on third party investment in Qoros	-	504
Fair value loss on option	(5)	-
Write back of financial guarantee	-	63
Share in losses of associated companies, net of tax	(13)	(28)
(Loss)/profit before income taxes	(1)	558
Income taxes	(5)	(6)
(Loss)/profit for the period from continuing operations	(6)	552
Loss for the period from discontinued operations (after tax)	(1)	-
(Loss)/profit for the period	(7)	552
Attributable to:
Kenon's shareholders	(12)	545
Non-controlling interests	5	7
(Loss)/profit for the period	(7)	552
Basic/diluted (loss)/profit per share attributable to Kenon's shareholders (in dollars):
Basic/Diluted (loss)/profit per share	(0.24)	10.13
Basic/Diluted (loss)/profit per share from continuing operations	(0.23)	10.13
Basic/Diluted loss per share from discontinued operations	(0.01)	-

Kenon Holdings Ltd. and subsidiaries Unaudited Consolidated Statements of Cash Flows For the three months ended March 31, 2019 and 2018

	For the three months ended March 31,
	2019	2018
		\$ millions
Cash flows from operating activities
(Loss)/profit for the period	(7)	552
Adjustments:
Depreciation and amortization	7	8
Financing expenses, net	2	4
Share in losses of associated companies, net of tax	13	28
Write back of financial guarantee	-	(63)
Gain on third party investment in Qoros	-	(504)
Fair value loss on option	5	-
Share-based payments	1	-
Net change in fair value of derivative financial instruments	-	1
Income taxes	5	6
	26	32
Change in trade and other receivables	7	36
Change in trade and other payables	15	(33)
	48	35
Income taxes paid, net	(1)	(169)
Net cash provided by/(used in) operating activities	47	(134)

Kenon Holdings Ltd. and subsidiaries Unaudited Consolidated Statement of Cash Flows, continued For the three months ended March 31, 2019 and 2018

		For the three months ended March 31,
	2019	2018
	\$ millions
Cash flows from investing activities
Short-term deposits and loans, net	-	7
Cash paid for businesses purchased, less cash acquired	-	(2)
Payment of transaction costs for sale of subsidiaries	-	(46)
Payments for long-term deposits	(4)	(4)
Acquisition of property, plant and equipment	(8)	(16)
Proceeds from dilution of third party investment in Qoros	-	260
Receipt to release financial guarantee	-	18
Net cash (used in)/provided by investing activities	(12)	217
Cash flows from financing activities
Capital distribution	-	(665)
Receipt of long-term loans and issuance of debentures	-	7
Repayment of long-term loans and debentures	(3)	(7)
Repayment of short-term credit from banks and others, net	(1)	(378)
Interest paid	(4)	(6)
Net cash used in financing activities	(8)	(1,049)
Increase/(decrease) in cash and cash equivalents	27	(966)
Cash and cash equivalents at beginning of the period	131	1,417
Effect of exchange rate fluctuations on balances of cash and cash equivalents	3	4
Cash and cash equivalents at end of the period	161	455

Information regarding reportable segments

The following table sets forth selected financial data for Kenon's reportable segments for the periods presented:

		For the three months ended March 31, 2019
	OPC	Quantum1	Other2	Consolidated Results
		\$ millions
Revenue	97	-	-	97
Depreciation and amortization	(7)	-	-	(7)
Financing income	-	-	4	4
Financing expenses	(5)	-	(1)	(6)
Fair value loss on put option	-	(5)	-	(5)
Share in losses of associated companies	-	(5)	(8)	(13)
Profit / (Loss) before taxes	18	(10)	(9)	(1)
Income taxes	(4)	-	(1)	(5)
Profit / (Loss) from continuing operations	14	(10)	(10)	(6)

(1) Quantum is a wholly-owned subsidiary of Kenon and holds Kenon's interest in Qoros.

(2) Includes the results of Primus; the results of ZIM, as an associated company; as well as Kenon's and IC Green's holding company and general and administrative expenses.

	For the three months ended March 31, 2018
	OPC	Quantum1	Other2 \$ millions	Adjustments3	Consolidated Results
Revenue	101	-	-	-	101
Depreciation and amortization	(8)	-	-	-	(8)
Financing income	-	-	18	(16)	2
Financing expenses	(5)		(17)	16	(6)
Write back of financial guarantee	-	63	-	-	63
Gain on third party investment in Qoros	-	504	-	-	504
Share in losses of associated companies	-	(15)	(13)	-	(28)
Profit / (Loss) before taxes	22	552	(16)	-	558
Income taxes	(6)	-	-	-	(6)
Profit / (Loss) from continuing operations	16	552	(16)	-	552

(1) Quantum is a wholly-owned subsidiary of Kenon and holds Kenon's interest in Qoros.

(2) Includes the results of Primus; the results of ZIM, as an associated company; as well as Kenon's and IC Green's holding company and general and administrative expenses.

(3) "Adjustments" includes inter-segment financing income and expenses.

Information regarding associated companies

		Assets held for sale as of		Carrying amounts of investment in associated companies as of	Equity in the net losses of associated companies for the period ended
	March 31,	December 31,	March 31,	December 31,	March 31,	March 31,
	2019	2018	2019	2018	2019	2018
		\$ millions		\$ millions		\$ millions
ZIM	-	-	83	91	(8)	(13)
Qoros	70	70	59	70	(5)	(15)
	70	70	142	161	(13)	(28)

Appendix B

Summary of OPC 's Consolidated Financial Information

OPC's Unaudited Consolidated Statement of Profit or Loss

	For the three months ended March 31,
	2019	2018
	\$ millions
Revenue	97	101
Cost of sales (excluding depreciation and amortization)	(61 )	(63 )
Depreciation and amortization	(7 )	(8 )
Gross profit	29	30
General, selling and administrative expenses	(6 )	(3 )
Financing expenses, net	(5 )	(5 )
Profit before taxes	18	22
Taxes on income	(4 )	(6 )
Net profit for the period	14	16
Attributable to:
Equity holders of the company	11	13
Non -controlling interest	3	3
Net profit for the period	14	16

		For the three months ended March 31,
	2019	2018
		\$ millions
Cash flows provided by operating activities	52	27
Cash flows used in investing activities	(12)	(22)
Cash flows used in financing activities	(8)	(5)
Increase in cash and cash equivalents	32	-
Cash and cash equivalents at end of the period	124	145
Investments in property, plant and equipment	8	15
Total depreciation and amortization	7	8

Summary Data from OPC's Consolidated Statement of Financial Position

		As of
		December 31,
	March 31, 2019	2018
	(Unaudited)
	\$ millions
Total financial liabilities1	603	586
Total monetary assets2	231	187
Total equity attributable to the owners	187	181
Total assets	968	905

1. Including loans from banks and others and debentures

2. Including cash and cash equivalents, short-term deposits and restricted cash.

Appendix C

Definition of OPC's EBITDA and non-IFRS reconciliation

This press release, including the financial tables, presents EBITDA, which is considered to be a "non-IFRS financial measure."

OPC defines "EBITDA" as for each period as net profit before depreciation and amortization, financing expenses, net, and income tax expense. EBITDA is not recognized under IFRS or any other generally accepted accounting principles as a measure of financial performance and should not be considered as a substitute for net profit or loss, cash flow from operations or other measures of operating performance determined in accordance with IFRS. EBITDA is not intended to represent funds available for dividends or other discretionary uses because those funds may be required for debt service, capital expenditures, working capital and other commitments and contingencies. There are limitations that impair the use of EBITDA as a measure of OPC's profitability since it does not take into consideration certain costs and expenses that result from OPC's business that could have a significant effect on net profit, such as financial expenses, taxes, depreciation, capital expenses and other related items.

OPC believes that the disclosure of EBITDA provides transparent and useful information to investors and financial analysts in their review of the company's, or its subsidiaries' operating performance and in the comparison of such operating performance to the operating performance of other companies in the same industry or in other industries that have different capital structures, debt levels and/or income tax rates.

Set forth below is a reconciliation of OPC's net profit to EBITDA for the periods presented. Other companies may calculate EBITDA differently, and therefore this presentation of EBITDA may not be comparable to other similarly titled measures used by other companies.

	For the three
	months ended
	March 31, 2019
	\$ millions
Net profit for the period	14
Depreciation and amortization	7
Financing expenses, net	5
Income tax expense	4
EBITDA	30
	For the three months ended March 31, 2018 \$ millions
Net profit for the period	16
Depreciation and amortization	8
Financing expenses, net	5
Income tax expense	6

Appendix D

Summary Financial Information of OPC's Subsidiaries

The tables below set forth debt, cash and cash equivalents, deposits and restricted cash for OPC's subsidiaries as of March 31, 2019:

	OPC-Rotem	OPC-Hadera	Others	Total
		\$ millions
Debt (excluding accrued interest)	343	179	81	603
Cash and cash equivalents and short term deposits	65	10	76	151
Restricted cash (including debt service reserves)	54	2	24	80
Debt service reserves	29	-	13	42

The tables below set forth debt, cash and cash equivalents, deposits and restricted cash for OPC's subsidiaries as of December 31, 2018:

	OPC-Rotem	OPC-Hadera	Others	Total
	\$ millions
Debt (excluding accrued interest)	336	172	78	586
Cash and cash equivalents and short term deposits	26	12	77	115
Restricted cash (including debt service reserves)	46	2	24	72
Debt service reserves	24	-	13	37

Appendix E

Summary Operational Information of OPC

The tables below set forth details of sales, generation and purchases of electricity by OPC and availability and net generation of OPC split by the Rotem plant and the Hadera energy center (kWh in millions):

	For the three months ended March 31.
	2019	2018
Sales to private customers	969	973
Sales to the system administrator	43	38
Total sales	1,012	1,011
	For the three months ended March 31
	2019	2018
Net generation of electricity	984	976
Purchase of electricity from the system administrator	28	35
Total volume of electricity generated and purchases from the system administrator	1,012	1,011

For the three months ended March 31
2019		2018
Availability	Net generation	Availability	Net generation
(%)	(kWh in millions)	(%)	(kWh in millions)
100%	961	100%	951
92.8%	23	99.8%	25