Ellomay Cap Stock Price, News & Analysis

Ellomay Capital Ltd. has filed its Annual Report on Form 20-F for the year ended December 31, 2022, with the Securities and Exchange Commission. The report is accessible on the company's website, and hard copies are available to shareholders upon request. Ellomay, operational in renewable energy sectors in Europe and Israel, has significant investments in various projects, including approximately 35.9 MW of photovoltaic power in Spain and 9 MW in Israel. The company also holds stakes in major power plants and anaerobic digestion projects, enhancing its portfolio in clean energy.

Ellomay Capital Ltd. (NYSE American: ELLO) reported its unaudited financial results for 2022, showing a revenue increase to approximately €53.4 million, up from €45.7 million in 2021, driven by higher electricity prices in Spain and the start of operations at Ellomay Solar. However, operating expenses rose to €24.1 million from €17.6 million, primarily due to the Spanish government's regulatory impact on returns and higher costs associated with the military conflict in Ukraine. Net profit increased to €0.1 million from a loss of €19.6 million in 2021, but total comprehensive loss expanded to €35.2 million, largely due to foreign currency fluctuations and the Talasol PPA's fair value changes.

Ellomay Capital Ltd. (NYSE American: ELLO) reported on March 29, 2023, its indirect 9.4% ownership in Dorad Energy Ltd., following the publication of Dorad's financial statements for 2022. Dorad's revenues were approximately NIS 2,369.2 million, with an operating profit of around NIS 316.6 million. The report noted impacts from COVID-19, including supply chain disruptions and declining economic activity. Seasonal demand for electricity affects Dorad's revenues, particularly during winter and summer months. The report also emphasizes that future results may not reflect past performance due to various economic factors.

On March 21, 2023, Ellomay Capital Ltd. (NYSE: ELLO) announced its entry into a Joint Development Agreement (JDA) for solar photovoltaic projects in Texas. The JDA, executed with an experienced project developer, includes the development of two solar PV projects with a total projected capacity of 23 MW, requiring capital costs of approximately $25-$27 million. Ellomay's estimated share is around $18-$20 million, with funding discussions ongoing for tax equity. One project is expected to reach Ready to Build status in six months. The JDA also covers three additional projects with a capacity of 30 MW, targeting the ERCOT North market.

Ellomay Capital Ltd. (NYSE: ELLO) reported strong financial results for the nine months ended September 30, 2022, with revenues of approximately €44.7 million, up 33% from €33.7 million in 2021. This growth stemmed from increased electricity prices in Spain and the activation of its 28 MW solar facility. Operating expenses rose to €18.4 million, influenced by regulatory changes in Spain and rising costs in biogas operations due to the Ukraine war. The company recorded a loss of €2.3 million, improved from a €5.8 million loss in 2021. EBITDA increased to €19.2 million, up 16.4% year-on-year.

On December 29, 2022, Ellomay Capital Ltd. (NYSE American: ELLO) held its annual general meeting (AGM) where shareholders approved key proposals. The meeting confirmed the reelection of four directors, the approval of liability insurance for directors and officers, and the employment terms for Asaf Nehama. Additionally, the independent auditors for the fiscal year ending December 31, 2022, were reappointed. Ellomay focuses on renewable energy projects across Europe and Israel, with investments in photovoltaic plants and energy production facilities.

Ellomay Capital Ltd. (ELLO) reported the financial results of its 9.4% indirect stake in Dorad Energy Ltd. for Q3 2022. Dorad's revenues reached approximately NIS 766.2 million, with an operating profit of NIS 135.9 million. The company began receiving natural gas from Energean Israel in November 2022, which may enhance operational performance. However, Dorad's report noted that the ongoing effects of COVID-19 have disrupted economic activity and may impact future results. Seasonal demand for electricity varies, influencing revenue and indicating that Q3 results are not fully indicative of annual performance.