Welcome to our dedicated page for Ellomay Capital news (Ticker: ELLO), a resource for investors and traders seeking the latest updates and insights on Ellomay Capital stock.
Ellomay Capital Ltd. (NYSE American: ELLO, TASE: ELLO) is an Israeli public company focused on renewable energy and infrastructure sectors worldwide. Established in 2009, Ellomay Capital has a diverse portfolio spanning solar, wind, and hydro power projects across Europe, Israel, and the USA, making it a prominent player in the utility sector.
The company operates through several key segments:
- Photovoltaic (PV) Plants: Ellomay owns and manages numerous photovoltaic plants, notably in Spain and Italy. The Talasol project in Spain, with a 300 MW capacity, and Ellomay Solar projects in Italy are major contributors to their portfolio.
- Dorad Energy Ltd. (Dorad): Ellomay holds an indirect 9.4% stake in Dorad, one of Israel’s largest private power plants, which significantly boosts the company's revenue stream through its electricity generation capabilities.
- Groen Gas Goor B.V.: Ellomay's ventures into biogas include multiple anaerobic digestion plants in the Netherlands, enhancing its clean energy footprint through the production of green gas.
- Pumped Storage Hydro Plant (Manara): The Manara project in Israel aims to develop a 156 MW hydroelectric power plant, demonstrating their commitment to innovative renewable energy solutions.
Ellomay Capital has shown resilience and adaptability in varying market conditions. The company's recent financial performance highlights a strategic approach to managing lower electricity prices in Spain by leveraging long-term power purchase agreements (PPAs). Despite a challenging market, Ellomay reported a stable EBITDA of €18.8 million for 2023, underscoring robust financial health.
Recent initiatives include expanding into the US market with solar projects in Texas and ongoing developments in Italy. The company is also engaged in significant projects like the Manara Pumped Storage Project and the expansion of PV and storage facilities in Israel, ensuring a sustained growth trajectory.
For further details, you can visit Ellomay's official website.
Ellomay Capital Ltd. (NYSE American: ELLO), headquartered in Tel Aviv, announced its annual general meeting (AGM) scheduled for December 29, 2022. Key agenda items include the reelection of directors, approval of a directors' and officers' liability insurance policy, and the reappointment of KPMG as independent auditors. Shareholders of record by November 28, 2022, can vote. The company plans to mail a proxy statement by November 30, 2022. The meeting will address financial statements and require majority approval for certain proposals.
Ellomay Capital Ltd. (NYSE: ELLO) announced its financial results for H1 2022, reporting revenues of approximately €29.2 million, a 43% increase compared to €20.4 million in H1 2021, driven by rising electricity prices in Spain. Operating expenses rose to €13.1 million, attributed to legislative changes in Spain and increased costs due to the Ukraine war. The company reported a loss of €0.6 million compared to €5.2 million in the previous year. EBITDA improved to €10.6 million from €8.4 million. The company anticipates continued revenue growth from its expanding photovoltaic (PV) projects in Europe.
Ellomay Capital Ltd. (NYSE American: ELLO) reported Dorad Energy Ltd.'s financial results for Q2 2022, in which it holds a 9.4% indirect stake via Dori Energy. Dorad's revenues reached approximately NIS 465.5 million, with an operating profit of NIS 24.8 million. The report noted challenges due to COVID-19, impacting global economic activity and supply chains. Additionally, a 24.3% increase in average production components announced by the Israeli Electricity Authority effective August 1, 2022, may influence future revenues.
Ellomay Capital Ltd. (NYSE: ELLO) reported a significant revenue increase to approximately €11.8 million in Q1 2022, up from €7.2 million in Q1 2021, attributed to rising electricity prices and full revenue recognition from the Talasol photovoltaic facility. Operating expenses rose to €6 million, driven by regulatory changes in Spain. The company experienced a net loss of €3.4 million, compared to €2.7 million a year earlier. Notably, a €40.9 million comprehensive loss resulted from changes in the fair value of cash flow hedges. Future projections indicate Q2 revenues around €16 million.
Ellomay Capital Ltd. (NYSE American: ELLO) has successfully connected its 28MW photovoltaic plant in Talaván, Spain to the electricity grid. The facility, built without external financing for approximately €19 million, is expected to produce around 53,000 MWh annually. With rising electricity market prices in Europe, projected revenues for the next 18 months are estimated at €9.5 million. The company continues to expand its renewable energy operations across Europe and Israel, holding various interests in multiple energy projects.
Ellomay Capital Ltd. (NYSE American: ELLO) disclosed its indirect 9.4% stake in Dorad Energy Ltd. following the publication of Dorad's financial statements for Q1 2022. Dorad reported revenues of approximately NIS 555.4 million and an operating profit of NIS 80 million. The ongoing COVID-19 pandemic has impacted economic activity, affecting Dorad's operations and supply chain. Seasonal electricity demand variations were noted, with higher consumption during winter and summer. Results for Q1 2022 may not predict future quarterly performance due to external factors.
Ellomay Capital Ltd. (NYSE American; TASE: ELLO) has filed its Annual Report on Form 20-F for the fiscal year ending December 31, 2021. The report is available on the company's website for download, and free hard copies will be provided to shareholders upon request. Ellomay specializes in renewable energy projects in Europe and Israel, with several significant investments including photovoltaic power plants and interests in large-scale power production. The company aims to drive clean energy ventures across its operational regions.
Ellomay Capital Ltd. (NYSE: ELLO) has reported its unaudited financial results for Q4 and the year ended December 31, 2021. The company saw revenues increase to approximately €44.8 million from €9.6 million in 2020, attributed to the Talasol PV Plant’s operational start and the acquisition of the Gelderland Biogas Plant. However, net loss grew to €20.3 million, compared to a loss of €6.2 million in the previous year. The Talasol Refinancing in January 2022 secured €175 million, significantly improving financing conditions. Key financial metrics included an Adjusted EBITDA of €25.5 million.
Ellomay Capital Ltd. (NYSE American: ELLO) announced the publication of Dorad Energy Ltd.'s financial statements for the year ended December 31, 2021, in which Ellomay holds a 9.4% indirect ownership. Dorad reported revenues of approximately NIS 2,104 million and an operating profit of around NIS 269 million. The report notes the impact of Covid-19 on economic activities and electricity consumption, although no material effect was observed on Dorad's operations at this time. The company plans to include these results in its annual report on Form 20-F for the same period.
Ellomay Capital Ltd. (NYSE American: ELLO) has announced that its subsidiary Talasol Solar S.L. successfully closed a €175 million financing agreement with European institutional lenders. The new financing replaces a previous €121 million loan, providing improved cash flow for Talasol. The financing includes a €155 million term loan for 22.5 years and a €20 million loan for 21 years, with an average fixed interest rate of approximately 3%. The restructuring is expected to enhance Talasol's annual average free cash flow by about €3 million and allow for a special dividend of approximately €31 million.
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