Ellomay Capital Reports Publication of Financial Statements of Dorad Energy Ltd. for the Three and Six Months Ended June 30, 2024
Ellomay Capital (NYSE American; TASE: ELLO) reported the publication of financial statements for Dorad Energy , in which Ellomay indirectly holds approximately 9.4%. Key highlights for Dorad's Q2 2024 include:
- Unaudited revenues: approximately NIS 659 million
- Unaudited operating profit: approximately NIS 87.5 million
Dorad's demand for electricity is seasonal, with higher consumption in winter and summer. The company noted that the ongoing war situation in Israel, which started on October 7, 2023, has impacted its results, but the short-term effect is expected to be immaterial. However, Dorad is unable to assess the medium and long-term impacts due to the unpredictable nature of the conflict.
Ellomay Capital (NYSE American; TASE: ELLO) ha riportato la pubblicazione dei bilanci finanziari per Dorad Energy, in cui Ellomay detiene indirettamente circa il 9,4%. I punti salienti del secondo trimestre 2024 di Dorad includono:
- Ricavi non verificati: circa 659 milioni di NIS
- Utile operativo non verificato: circa 87,5 milioni di NIS
La domanda di elettricità di Dorad è stagionale, con un consumo maggiore in inverno e in estate. La società ha osservato che la situazione di guerra in corso in Israele, iniziata il 7 ottobre 2023, ha influito sui suoi risultati, ma l'effetto a breve termine dovrebbe essere irrilevante. Tuttavia, Dorad non è in grado di valutare gli impatti a medio e lungo termine a causa della natura imprevedibile del conflitto.
Ellomay Capital (NYSE American; TASE: ELLO) reportó la publicación de estados financieros para Dorad Energy, en la que Ellomay posee indirectamente aproximadamente el 9.4%. Los puntos destacados del segundo trimestre de 2024 de Dorad incluyen:
- Ingresos no auditados: aproximadamente 659 millones de NIS
- Beneficio operativo no auditado: aproximadamente 87.5 millones de NIS
La demanda de electricidad de Dorad es estacional, con un mayor consumo en invierno y verano. La empresa señaló que la situación de guerra en curso en Israel, que comenzó el 7 de octubre de 2023, ha impactado sus resultados, pero se espera que el efecto a corto plazo sea inmaterial. Sin embargo, Dorad no puede evaluar los impactos a medio y largo plazo debido a la naturaleza impredecible del conflicto.
엘로메이 캐피탈 (NYSE American; TASE: ELLO)은 엘로메이가 간접적으로 약 9.4%를 보유한 도라드 에너지의 재무제표를 발표했다고 보고했습니다. 도라드의 2024년 2분기 주요 내용은 다음과 같습니다:
- 감사되지 않은 수익: 약 6억 5900만 NIS
- 감사되지 않은 운영 이익: 약 8천750만 NIS
도라드의 전기 수요는 계절적이며, 겨울과 여름에 소비가 증가합니다. 회사는 2023년 10월 7일에 시작된 이스라엘의 지속적인 전쟁 상황이 결과에 영향을 미쳤지만 단기적인 영향은 비물질적일 것으로 예상된다고 언급했습니다. 그러나 도라드는 갈등의 예측 불가능한 성격으로 인해 중장기적 영향을 평가할 수 없습니다.
Ellomay Capital (NYSE American; TASE: ELLO) a annoncé la publication des états financiers de Dorad Energy, dans laquelle Ellomay détient indirectement environ 9,4 %. Les points clés du 2e trimestre 2024 de Dorad incluent :
- Revenus non audités : environ 659 millions de NIS
- Bénéfice d'exploitation non audité : environ 87,5 millions de NIS
La demande d'électricité de Dorad est saisonnière, avec une consommation plus élevée en hiver et en été. L'entreprise a noté que la situation de guerre en cours en Israël, qui a commencé le 7 octobre 2023, a eu un impact sur ses résultats, mais l'effet à court terme devrait être négligeable. Cependant, Dorad n'est pas en mesure d'évaluer les impacts à moyen et long terme en raison de la nature imprévisible du conflit.
Ellomay Capital (NYSE American; TASE: ELLO) hat die Veröffentlichung der Finanzberichte für Dorad Energy bekannt gegeben, an der Ellomay indirekt etwa 9,4% hält. Die wichtigsten Punkte für das zweite Quartal 2024 von Dorad sind:
- Ungeprüfte Einnahmen: etwa 659 Millionen NIS
- Ungeprüfter Betriebsgewinn: etwa 87,5 Millionen NIS
Die Stromnachfrage von Dorad ist saisonabhängig, mit höherem Verbrauch im Winter und Sommer. Das Unternehmen stellte fest, dass die laufende Kriegsituation in Israel, die am 7. Oktober 2023 begann, seine Ergebnisse beeinflusst hat, jedoch wird erwartet, dass die kurzfristigen Auswirkungen unmaßgeblich sind. Dorad kann jedoch aufgrund der unvorhersehbaren Natur des Konflikts die mittel- und langfristigen Auswirkungen nicht abschätzen.
- Dorad Energy reported unaudited revenues of approximately NIS 659 million for Q2 2024
- Dorad Energy's unaudited operating profit for Q2 2024 was approximately NIS 87.5 million
- The ongoing war situation in Israel may impact Dorad's medium and long-term business results
- Seasonal demand fluctuations affect Dorad's electricity sales and revenues
- Increase in Israeli CPI impacts Dorad's interest payments on its credit facility
Insights
Dorad Energy's Q2 2024 results show mixed signals. Revenues of
The ongoing war situation in Israel, which began in October 2023, adds uncertainty. While Dorad estimates a minimal short-term impact, the medium to long-term effects remain unclear. This geopolitical risk factor could potentially influence future performance and investor sentiment.
Ellomay Capital's
Dorad's financial performance reflects the complex dynamics of Israel's energy market. The company's revenue structure, tied to the TAOZ tariff system, demonstrates sensitivity to seasonal variations. This pricing mechanism, which sets higher rates during peak demand periods, likely contributed to the strong Q2 revenue.
However, investors should note the potential headwinds. The impact of rising Israeli CPI on Dorad's credit facility interest payments could pressure profitability. Additionally, the ongoing geopolitical tensions may affect energy demand patterns and operational stability.
Looking ahead, Dorad's ability to navigate these challenges while capitalizing on seasonal demand spikes will be crucial. The company's performance amidst these factors will be a key indicator of its resilience and management effectiveness in the volatile energy sector.
TEL-AVIV, Israel, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Ellomay Capital Ltd. (NYSE American; TASE: ELLO) (“Ellomay” or the “Company”), a renewable energy and power generator and developer of renewable energy and power projects in Europe, Israel and USA, today reported the publication in Israel of financial statements for the three and six months ended June 30, 2024 of Dorad Energy Ltd. (“Dorad”), in which Ellomay currently indirectly holds approximately
On August 30, 2024, Amos Luzon Entrepreneurship and Energy Group Ltd. (the “Luzon Group”), an Israeli public company that currently holds the remaining
The financial statements of Dorad for the quarter ended June 30, 2024 were prepared in accordance with International Financial Reporting Standards. Ellomay will include its indirect share of these results (through its holdings in Ellomay Luzon Energy) in its financial results for this period. In an effort to provide Ellomay’s shareholders with access to Dorad’s financial results (which were published in Hebrew), Ellomay hereby provides a convenience translation of Dorad’s financial results.
Dorad Financial Highlights
- Dorad’s unaudited revenues for the three months ended June 30, 2024 – approximately NIS 659 million.
- Dorad’s unaudited operating profit for the three months ended June 30, 2024 – approximately NIS 87.5 million.
Based on the information provided by Dorad, the demand for electricity by Dorad’s customers is seasonal and is affected by, inter alia, the climate prevailing in that season. Since January 1, 2023, the months of the year are split into three seasons as follows: the summer season – the months of June, July, August and September; the winter season – the months of December, January and February; and intermediate seasons – (spring and autumn), the months from March to May, October and November. There is a higher demand for electricity during the winter and summer seasons, and the average electricity consumption is higher in these seasons than in the intermediate seasons and is even characterized by peak demands due to extreme climate conditions of heat or cold. In addition, Dorad’s revenues are affected by the change in load and time tariffs – TAOZ (an electricity tariff that varies across seasons and across the day in accordance with demand hour clusters), as, on average, TAOZ tariffs are higher in the summer season than in the intermediate and winter seasons. Therefore, the results presented for the quarter ended June 30, 2024, which include the intermediate months of April and May and the summer month of June, are not indicative of full year results. In addition, due to various reasons, including the effects of the increase in the Israeli CPI impacting interest payments by Dorad on its credit facility, the results included herein may not be indicative of second quarter results in the future or comparable to second quarter results in the past.
The financial statements of Dorad include a note concerning the war situation in Israel, which commenced on October 7, 2023, stating that Dorad estimated, based on the information it had as of August 15, 2024 (the date of approval of Dorad’s financial statements as of June 30, 2024), that the current events and the security escalation in Israel have an impact on its results but that the impact on its short-term business results will be immaterial. Dorad further notes that as this event is not under the control of Dorad, and factors such as the continuation of the war and hostilities or their cessation may affect Dorad’s assessments, as of the date of the financial statements, Dorad is unable to assess the extent of the impact of the war on its business activities and on its medium and long-term results. Dorad continues to regularly monitor the developments and is examining the effects on its operations and the value of its assets.
A translation of the financial results for Dorad as of and for the year ended December 31, 2023 and as of and for each of the three and six month periods ended June 30, 2024 and 2023 is included at the end of this press release. Ellomay does not undertake to separately report Dorad’s financial results in a press release in the future. Neither Ellomay nor its independent public accountants have reviewed or consulted with the Luzon Group, Ellomay Luzon Energy or Dorad with respect to the financial results included in this press release.
About Ellomay Capital Ltd.
Ellomay is an Israeli based company whose shares are registered with the NYSE American and with the Tel Aviv Stock Exchange under the trading symbol “ELLO”. Since 2009, Ellomay Capital focuses its business in the renewable energy and power sectors in Europe and Israel.
To date, Ellomay has evaluated numerous opportunities and invested significant funds in the renewable, clean energy and natural resources industries in Israel, Italy, Spain, the Netherlands and Texas, USA, including:
- Approximately 335.9 MW of photovoltaic power plants in Spain (including a 300 MW photovoltaic plant in owned by Talasol, which is
51% owned by the Company) and approximately 9.95 MW of photovoltaic power plants in Italy; 9.375% indirect interest in Dorad Energy Ltd., which owns and operates one of Israel’s largest private power plants with production capacity of approximately 850MW, representing about6% -8% of Israel’s total current electricity consumption;- Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million Nm3 per year, respectively;
83.333% of Ellomay Pumped Storage (2014) Ltd., which is involved in a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel;- A photovoltaic plant with installed capacity of approximately 10 MW in the Lazio Region, Italy that is ready for connection to the grid;
- Ellomay Solar Italy Ten SRL that is construction a photovoltaic plant (18 MW) in Italy;
- Ellomay Solar Italy Four SRL (15.06 MW), Ellomay Solar Italy Five SRL (87.2 MW), Ellomay Solar Italy Seven SRL (54.77 MW), Ellomay Solar Italy Nine SRL (8 MW) and Ellomay Solar Italy Fifteen SRL (10 MW) that are developing photovoltaic projects in Italy that have reached “ready to build” status; and
- Fairfield Solar Project, LLC (13.44 MW), Malakoff Solar I, LLC (6.96 MW) and Malakoff Solar II, LLC (6.96 MW), that are constructing photovoltaic plants and Mexia Solar I, LLC (5.6 MW), Mexia Solar II, LLC (5.6 MW), and Talco Solar, LLC (10.3 MW), that are developing photovoltaic projects that have reached “ready to build” status, all in the Dallas Metropolitan area, Texas.
For more information about Ellomay, visit http://www.ellomay.com.
Information Relating to Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company’s management. All statements, other than statements of historical facts, included in this press release regarding the Company’s plans and objectives, expectations and assumptions of management are forward-looking statements. The use of certain words, including the words “estimate,” “project,” “intend,” “expect,” “believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by the Company’s forward-looking statements, including changes in electricity prices and demand, continued war and hostilities and political and economic conditions generally in Israel, regulatory changes, the decisions of the Israeli Electricity Authority, changes in demand, technical and other disruptions in the operations of the power plant operated by Dorad, competition, changes in the supply and prices of resources required for the operation of the Dorad’s facilities and in the price of oil and electricity, changes in the Israeli CPI, changes in interest rates, seasonality, failure to obtain financing for the expansion of Dorad and other risks applicable to projects under development and construction, and other risks applicable to projects under development and construction, in addition to other risks and uncertainties associated with the Company’s and Dorad’s business that are described in greater detail in the filings the Company makes from time to time with Securities and Exchange Commission, including its Annual Report on Form 20-F. The forward-looking statements are made as of this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Kalia Rubenbach (Weintraub)
CFO
Tel: +972 (3) 797-1111
Email: hilai@ellomay.com
Dorad Energy Ltd.
Interim Condensed Statements of Financial Position
| June 30 | June 30 | December 31 | |||||
| 2024 | 2023 | 2023 | |||||
| (Unaudited) | (Unaudited) | (Audited) | |||||
| NIS thousands | NIS thousands | NIS thousands | |||||
| Current assets | |||||||
| Cash and cash equivalents | 218,067 | 176,779 | 219,246 | ||||
| Trade receivables and accrued income | 316,374 | 242,670 | 211,866 | ||||
| Other receivables | 50,867 | 14,181 | 12,095 | ||||
| Financial derivatives | 2,785 | 4,431 | - | ||||
| Total current assets | 588,093 | 438,061 | 443,207 | ||||
| Non-current assets | |||||||
| Restricted deposit | 526,392 | 537,337 | 522,319 | ||||
| Prepaid expenses | 29,043 | 31,074 | 30,053 | ||||
| Fixed assets | 3,017,054 | 3,173,760 | 3,106,550 | ||||
| Intangible assets | 8,114 | 7,765 | 7,653 | ||||
| Right of use assets | 54,403 | 56,886 | 55,390 | ||||
| Total non-current assets | 3,635,006 | 3,806,822 | 3,721,965 | ||||
| Total assets | 4,223,099 | 4,244,883 | 4,165,172 | ||||
| Current liabilities | |||||||
| Current maturities of loans from banks | 308,069 | 293,414 | 299,203 | ||||
| Current maturities of lease liabilities | 4,870 | 4,749 | 4,787 | ||||
| Trade payables | 236,691 | 172,233 | 166,089 | ||||
| Other payables | 10,005 | 12,710 | 31,446 | ||||
| Total current liabilities | 559,635 | 483,106 | 501,525 | ||||
| Non-current liabilities | |||||||
| Loans from banks | 1,874,385 | 2,115,016 | 1,995,909 | ||||
| Other Long-term liabilities | 10,826 | 14,975 | 12,943 | ||||
| Long-term lease liabilities | 49,023 | 51,032 | 47,618 | ||||
| Provision for dismantling and restoration | 36,002 | 50,000 | 38,985 | ||||
| Deferred tax liabilities | 306,840 | 237,126 | 278,095 | ||||
| Liabilities for employee benefits, net | 160 | 160 | 160 | ||||
| Total non-current liabilities | 2,277,236 | 2,468,309 | 2,373,710 | ||||
| Equity | |||||||
| Share capital | 11 | 11 | 11 | ||||
| Share premium | 642,199 | 642,199 | 642,199 | ||||
| Capital reserve from activities with shareholders | 3,748 | 3,748 | 3,748 | ||||
| Retained earnings | 740,270 | 647,510 | 643,979 | ||||
| Total equity | 1,386,228 | 1,293,468 | 1,289,937 | ||||
| Total liabilities and equity | 4,223,099 | 4,244,883 | 4,165,172 | ||||
Dorad Energy Ltd.
Interim Condensed Statements of Income
| For the six months ended | For the three months ended | Year ended | ||||||||
| June 30 | June 30 | December 31 | ||||||||
| 2024 | 2023 | 2024 | 2023 | 2023 | ||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||||||
| NIS thousands | NIS thousands | NIS thousands | NIS thousands | NIS thousands | ||||||
| Revenues | 1,269,902 | 1,254,471 | 659,020 | 606,155 | 2,722,396 | |||||
| Operating costs of the | ||||||||||
| Power Plant | ||||||||||
| Energy costs | 290,785 | 261,490 | 159,701 | 137,416 | 583,112 | |||||
| Electricity purchase and | ||||||||||
| infrastructure services | 567,671 | 592,821 | 304,480 | 275,659 | 1,244,646 | |||||
| Depreciation and | ||||||||||
| amortization | 115,719 | 118,864 | 60,205 | 62,518 | 242,104 | |||||
| Other operating costs | 82,766 | 80,718 | 40,297 | 46,547 | 186,024 | |||||
| Total operating costs | ||||||||||
| of Power Plant | 1,056,941 | 1,053,893 | 564,683 | 522,140 | 2,255,886 | |||||
| Profit from operating | ||||||||||
| the Power Plant | 212,961 | 200,578 | 94,337 | 84,015 | 466,510 | |||||
| General and | ||||||||||
| administrative expenses | 16,727 | 14,093 | 6,853 | 7,499 | 27,668 | |||||
| Other income | - | - | - | - | 39 | |||||
| Operating profit | 196,234 | 186,485 | 87,484 | 76,516 | 438,881 | |||||
| Financing income | 31,884 | 36,190 | 19,005 | 16,968 | 45,286 | |||||
| Financing expenses | 103,082 | 125,719 | 66,686 | 66,638 | 209,773 | |||||
| Financing expenses, net | 71,198 | 89,529 | 47,681 | 49,670 | 164,487 | |||||
| Profit before | ||||||||||
| taxes on income | 125,036 | 96,956 | 39,803 | 26,846 | 274,394 | |||||
| Tax on Income | 28,745 | 22,110 | 9,149 | 5,969 | 63,079 | |||||
| Profit for the period | 96,291 | 74,846 | 30,654 | 20,877 | 211,315 | |||||
Dorad Energy Ltd.
Interim Condensed Statements of Changes in Shareholders’ Equity
| Capital reserve | ||||||||||
| for activities | ||||||||||
| Share | Share | with | Retained | |||||||
| capital | premium | shareholders | earnings | Total Equity | ||||||
| NIS thousands | NIS thousands | NIS thousands | NIS thousands | NIS thousands | ||||||
| For the six months | ||||||||||
| ended June 30, 2024 | ||||||||||
| (Unaudited) | ||||||||||
| Balance as at | ||||||||||
| January 1, 2024 (Audited) | 11 | 642,199 | 3,748 | 643,979 | 1,289,937 | |||||
| Net profit for the period | - | - | - | 96,291 | 96,291 | |||||
| Balance as at | ||||||||||
| June 30, 2024 (Unaudited) | 11 | 642,199 | 3,748 | 740,270 | 1,386,228 | |||||
| For the six months | |||||||||
| ended June 30, 2023 | |||||||||
| (Unaudited) | |||||||||
| Balance as at | |||||||||
| January 1, 2023 (Audited) | 11 | 642,199 | 3,748 | 572,664 | 1,218,622 | ||||
| Net profit for the period | - | - | - | 74,846 | 74,846 | ||||
| Balance as at | |||||||||
| June 30, 2023 (Unaudited) | 11 | 642,199 | 3,748 | 647,510 | 1,293,468 |
| For the three months | |||||||||
| ended June 30, 2024 | |||||||||
| (Unaudited) | |||||||||
| Balance as at | |||||||||
| April 1, 2024 (Unaudited) | 11 | 642,199 | 3,748 | 709,616 | 1,355,574 | ||||
| Net profit for the period | - | - | - | 30,654 | 30,654 | ||||
| Balance as at | |||||||||
| June 30, 2024 (Unaudited) | 11 | 642,199 | 3,748 | 740,270 | 1,386,228 |
| For the three months | |||||||||
| ended June 30, 2023 | |||||||||
| (Unaudited) | |||||||||
| Balance as at | |||||||||
| April 1, 2023 (Unaudited) | 11 | 642,199 | 3,748 | 626,633 | 1,272,591 | ||||
| Net profit for the period | - | - | - | 20,877 | 20,877 | ||||
| Balance as at | |||||||||
| June 30, 2023 (Unaudited) | 11 | 642,199 | 3,748 | 647,510 | 1,293,468 | ||||
Dorad Energy Ltd.
Interim Condensed Statements of Changes in Shareholders’ Equity (cont’d)
| Capital reserve | |||||||||||
| for activities | |||||||||||
| Share | Share | with | Retained | ||||||||
| capital | premium | shareholders | earnings | Total Equity | |||||||
| NIS thousands | NIS thousands | NIS thousands | NIS thousands | NIS thousands | |||||||
| For the year ended | |||||||||||
| December 31, 2023 (Audited) | |||||||||||
| Balance as at | |||||||||||
| January 1, 2023 (Audited) | 11 | 642,199 | 3,748 | 572,664 | 1,218,622 | ||||||
| Dividend distributed | - | - | - | (140,000) | (140,000) | ||||||
| Net profit for the year | - | - | - | 211,315 | 211,315 | ||||||
| Balance as at | |||||||||||
| December 31, 2023 (Audited) | 11 | 642,199 | 3,748 | 643,979 | 1,289,937 | ||||||
Dorad Energy Ltd.
Interim Condensed Statements of Cash Flows
| For the six months ended | For the three months ended | Year ended | ||||||||
| June 30 | June 30 | December 31 | ||||||||
| 2024 | 2023 | 2024 | 2023 | 2023 | ||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||||||
| NIS thousands | NIS thousands | NIS thousands | NIS thousands | NIS thousands | ||||||
| Net cash flows from | ||||||||||
| operating activities: | ||||||||||
| Profit for the period | 96,291 | 74,846 | 30,654 | 20,877 | 211,315 | |||||
| Adjustments: | ||||||||||
| Depreciation and amortization | ||||||||||
| and fuel consumption | 122,342 | 119,486 | 62,964 | 62,695 | 245,566 | |||||
| Taxes on income | 28,745 | 22,110 | 9,149 | 5,969 | 63,079 | |||||
| Financing expenses, net | 71,198 | 89,529 | 47,681 | 49,670 | 164,487 | |||||
| 222,285 | 231,125 | 119,794 | 118,334 | 473,132 | ||||||
| Change in trade receivables | (104,508) | (4,089) | (135,191) | (57,981) | 26,715 | |||||
| Change in other receivables | (43,921) | 18,628 | (39,428) | 5,043 | 20,714 | |||||
| Change in trade payables | 58,122 | (78,308) | 67,028 | (10,795) | (115,976) | |||||
| Change in other payables | (3,942) | 1,271 | (9,896) | (6,504) | 2,507 | |||||
| Change in other long-term liabilities | (2,117) | (2,554) | (736) | (951) | (4,586) | |||||
| (96,366) | (65,052) | (118,223) | (71,188) | (70,626) | ||||||
| Net cash flows from | ||||||||||
| operating activities | 222,210 | 240,919 | 32,225 | 68,023 | 613,821 | |||||
| Cash flows from (used in) | ||||||||||
| investing activities | ||||||||||
| Proceeds from (investment in) settlement of | ||||||||||
| financial derivatives | (1,050) | 3,074 | 346 | 1,902 | 8,884 | |||||
| Insurance proceeds in respect of | ||||||||||
| damage to fixed asset | 5,148 | - | 2,411 | - | - | |||||
| Decrease in long- | ||||||||||
| term restricted deposits | 17,500 | - | - | - | 40,887 | |||||
| Investment in fixed assets | (32,136) | (36,157) | (15,067) | (21,945) | (102,082) | |||||
| Investment in intangible assets | (1,469) | (2,317) | (1,057) | (1,500) | (3,162) | |||||
| Interest received | 19,578 | 13,796 | 10,020 | 7,772 | 33,501 | |||||
| Net cash flows from (used in) | ||||||||||
| investing activities | 7,571 | (21,604) | (3,347) | (13,771) | (21,972) | |||||
| Net cash flows from | ||||||||||
| financing activities: | ||||||||||
| Repayment of lease liability principal | (218) | (212) | (119) | (113) | (4,817) | |||||
| Repayment of loans from banks | (141,966) | (130,987) | (141,966) | (130,987) | (253,382) | |||||
| Dividends paid | (17,500) | - | - | - | (122,500) | |||||
| Interest paid | (72,755) | (76,985) | (72,559) | (76,835) | (151,220) | |||||
| Net cash flows used in | ||||||||||
| financing activities | (232,439) | (208,184) | (214,644) | (207,935) | (531,919) | |||||
| Net increase (decrease) incash | ||||||||||
| and cash equivalents for | ||||||||||
| the period | (2,658) | 11,131 | (185,766) | (153,683) | 59,930 | |||||
| Effect of exchange rate fluctuations | ||||||||||
| on cash and cash equivalents | 1,479 | 14,167 | 4,237 | 6,579 | 7,835 | |||||
| Cash and cash equivalents at | ||||||||||
| beginning of period | 219,246 | 151,481 | 399,596 | 323,883 | 151,481 | |||||
| Cash and cash equivalents at end | ||||||||||
| of period | 218,067 | 176,779 | 218,067 | 176,779 | 219,246 | |||||
FAQ
What were Dorad Energy's unaudited revenues for Q2 2024 as reported by Ellomay Capital (ELLO)?
How much was Dorad Energy's unaudited operating profit for Q2 2024 according to Ellomay Capital's (ELLO) report?
How has the war situation in Israel affected Dorad Energy's business as reported by Ellomay Capital (ELLO)?
What factors affect Dorad Energy's electricity demand according to Ellomay Capital's (ELLO) report?
