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Ellomay Capital Reports Publication of Financial Statements of Dorad Energy Ltd. as of and for the Three Months Ended March 31, 2025
Globenewswireยท 2025-05-30 10:45
Core Viewpoint - Ellomay Capital Ltd. reported its indirect share in Dorad Energy Ltd.'s financial results for the three months ended March 31, 2025, highlighting its 9.4% ownership through Ellomay Luzon Energy [1][3]. Financial Performance - Dorad's revenues for the three months ended March 31, 2025, were approximately NIS 610.6 million, with an operating profit of approximately NIS 76.9 million [7][15]. - The financial results indicate that Dorad's electricity demand is seasonal, with higher consumption during winter and summer months, affecting revenue and operational performance [4]. Financial Statements Overview - The financial statements of Dorad were prepared in accordance with International Financial Reporting Standards and will be included in Ellomay's financial results for the period [3]. - Dorad's total assets as of March 31, 2025, were approximately NIS 4.67 billion, with total liabilities of approximately NIS 2.31 billion and total equity of approximately NIS 1.67 billion [12][14]. Cash Flow Analysis - For the three months ended March 31, 2025, Dorad reported net cash from operating activities of approximately NIS 190.1 million, with a net increase in cash and cash equivalents to approximately NIS 1.03 billion [19][20]. Company Background - Ellomay Capital Ltd. focuses on renewable energy and power sectors in Europe, the USA, and Israel, with significant investments in solar power and other renewable projects [6][8].