Core Viewpoint - Ellomay Capital Ltd. reported its indirect shareholding in Dorad Energy Ltd. and provided a translation of Dorad's financial results for the three and six months ended June 30, 2025, highlighting significant financial impacts due to external events and operational challenges [1][3][4]. Financial Performance - Dorad's revenues for the three months ended June 30, 2025, were approximately NIS 566.8 million, with an operating profit of approximately NIS 56.9 million [8][20]. - The company experienced a loss primarily due to an increase of approximately NIS 72.7 million in financing expenses compared to the same period in 2024, attributed to NIS/USD exchange rate fluctuations [5][21]. - Dorad's revenues in June 2025 decreased by approximately 22% compared to June 2024, influenced by military operations and economic restrictions in Israel [6]. Ownership Structure - As of June 30, 2025, Ellomay indirectly held approximately 9.4% of Dorad through its 50% ownership of Ellomay Luzon Energy, which increased to approximately 16.9% following the acquisition of an additional 15% of Dorad's share capital [1][4]. Economic and Operational Context - The Israeli economy faced significant disruptions due to military operations, leading to restrictions on movement and gatherings, which adversely affected Dorad's operations [6]. - Dorad's financial statements were prepared in accordance with International Financial Reporting Standards, and the company continues to monitor the ongoing situation and its potential long-term impacts [3][6]. Seasonal Demand - Dorad's electricity demand is seasonal, with higher consumption during summer and winter months, which affects revenue generation [7][9].