Exhibit 99.1



Ellomay Capital Reports Results for the Three and Six Months Ended June 30, 2019

Talasol Project reaches financial closing
Revenues up 26% and Gross profit up 37% compared to H1 2018

Tel-Aviv, Israel, September 25, 2019 – 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 and Israel, today reported its unaudited financial results for the three and six months ended June 30, 2019.

Ran Fridrich, CEO and a board member of Ellomay commented: “The results for first half of 2019 reflect an increase of approximately 26% in revenues and approximately 37% in gross profit compared to the first half of 2018. These results are in line with the company’s projections. Project development expenses increased by approximately €1 million compared to the corresponding period last year. An approximate change of €2 million in financing expenses resulted from currency fluctuations (devaluation of the euro against the NIS during this period resulting in expenses in the amount of approximately €1.3 million, compared to a revaluation during the corresponding period last year resulting in income of approximately €0.7 million). Total equity increased from approximately €77 million to approximately €82.6 million, mainly as a result of the premium in connection with the sale of 49% of Talasol’s shares. The company generated positive operating cash flow from of approximately €1.1 million. The company continues to intensively develop projects of significant size in the solar energy sector in Italy and Spain, and is vigorously working to promote the Menara cliff project.

Construction of the Talasol project (300 MWh in Spain) is advancing as planned. Most of the infrastructure work has been completed and the installation of the facilities is expected to begin shortly. Works to construct the high voltage line (22 kilometers long) have also begun. The Talasol project is expected to be operational in Q4 2020.

The works to construct a drying silo facility in the Netherlands’ biogas plant are expected to end shortly and commencing the fourth quarter of 2019 the plants are expected to produce in full capacity. In parallel, we are advancing the issuance of permits that are expected to enable doubling the amount of waste that can be processed at the existing facilities.”

Financial Highlights

Revenues were approximately €10.3 million for the six months ended June 30, 2019, compared to approximately €8.2 million for the six months ended June 30, 2018. The increase in revenues is mainly a result of the commencement of operations of the Company’s waste-to-energy project in Oude Tonge, the Netherlands in June 2018 and relatively higher levels of radiation in Italy during 2019 compared to 2018.
 
Operating expenses were approximately €3.5 million for the six months ended June 30, 2019, compared to approximately €2.6 million for the six months ended June 30, 2018. The increase in operating expenses is mainly attributable to additional operating expenses resulting from the commencement of operations at the Company’s waste-to-energy project in Oude Tonge, the Netherlands. Depreciation expenses were approximately €3 million for the six months ended June 30, 2019, compared to approximately €2.8 million for the six months ended June 30, 2018.
 
Project development costs were approximately €2.7 million for the six months ended June 30, 2019, compared to approximately €1.8 million for the six months ended June 30, 2018. The increase in project development costs is mainly attributable to consultancy expenses in connection with the project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel, or the Manara Project.
 
General and administrative expenses were approximately €1.9 million for the six months ended June 30, 2019, compared to approximately €2 million for the six months ended June 30, 2018.
 
Company’s share of profits of equity accounted investee, after elimination of intercompany transactions, was approximately €0.03 million for the six months ended June 30, 2019, compared to approximately €0.5 million in the six months ended June 30, 2018. The decrease in the Company’s share of profit of equity accounted investee is mainly attributable to higher financial expenses incurred by Dorad Energy Ltd., in which the Company indirectly holds 9.375%, as a result of the CPI indexation of loans from banks and related parties.
 

Financing expenses, net was approximately €3.1 million for the six months ended June 30, 2019, compared to approximately €0.9 million for the six months ended June 30, 2018. The increase in financing expenses was mainly due to expenses in connection with exchange rate differences amounting to approximately €1.3 million in the six months ended June 30, 2019, mainly in connection with our NIS denominated Debentures and the loan to an equity accounted investee, caused by the 5.4% devaluation of the euro against the NIS during this period, compared to income in connection with exchange rate differences amounting to approximately €0.7 million in the six months ended June 30, 2018, mainly in connection with our NIS denominated Debentures and the loan to an equity accounted investee, caused by the 2.5% revaluation of the euro against the NIS during this period.
 
Taxes on income was approximately €0.5 million for the six months ended June 30, 2019, compared to a tax benefit of approximately €0.2 million for the six months ended June 30, 2018. The tax benefit for the six months ended June 30, 2018 resulted mainly from deferred tax income included in connection with the application of a tax incentive in the Netherlands claimable upon filing the relevant tax return by reducing the amount of taxable profit.
 
Net loss was approximately €4.4 million for the six months ended June 30, 2019, compared to approximately €1.1 million for the six months ended June 30, 2018.
 
Total other comprehensive loss was approximately €0.5 million for the six months ended June 30, 2019, compared to a profit of approximately €1 million for the six months ended June 30, 2018. The change was mainly due to changes in fair value of cash flow hedges and from foreign currency translation differences on New Israeli Shekel denominated operations, as a result of fluctuations in the euro/NIS exchange rates.
 
Total comprehensive loss was approximately €4.9 million for the six months ended June 30, 2019, compared to approximately €2.2 million for the six months ended June 30, 2018.
 
EBITDA was approximately €2.3 million for the six months ended June 30, 2019, compared to approximately €2.4 million for the six months ended June 30, 2018.
 
Net cash from operating activities was approximately €1.1 million for the six months ended June 30, 2019, compared to approximately €2.3 million for the six months ended June 30, 2018. The decrease in net cash from operating activities is mainly due to a higher interest payment received during 2018 on a loan to an equity accounted investee.
 
On April 30, 2019, the Talasol Project reached financial closing and the Company consummated the sale of 49% of the outstanding shares of Talasol for an aggregate purchase price of approximately €16.1 million. The purchase price represents 49% of our interests in Talasol (approximately €9.8 million) plus a premium of approximately €6.3 million. Such premium, net of approximately €0.7 million associated expenses, was recognized in Equity, as the sale transaction did not result in loss of control.
 
As of September 1, 2019, the Company held approximately €75.1 million in cash and cash equivalents, approximately €2.2 million in marketable securities and approximately €11.1 million in restricted short-term and long-term cash and marketable securities.
 
Use of NON-IFRS Financial Measures

EBITDA is a non-IFRS measure and is defined as earnings before financial expenses, net, taxes, depreciation and amortization. The Company presents this measure in order to enhance the understanding of the Company’s historical financial performance and to enable comparability between periods. While the Company considers EBITDA to be an important measure of comparative operating performance, EBITDA should not be considered in isolation or as a substitute for net income or other statement of operations or cash flow data prepared in accordance with IFRS as a measure of profitability or liquidity. EBITDA does not take into account the Company’s commitments, including capital expenditures, and restricted cash and, accordingly, is not necessarily indicative of amounts that may be available for discretionary uses. Not all companies calculate EBITDA in the same manner, and the measure as presented may not be comparable to similarly-titled measures presented by other companies. The Company’s EBITDA may not be indicative of the historic operating results of the Company; nor is it meant to be predictive of potential future results. A reconciliation between results on an IFRS and non-IFRS basis is provided in the last table of 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 and Spain, including:
 

Approximately 22.6MW of photovoltaic power plants in Italy, approximately 7.9MW of photovoltaic power plants in Spain and a photovoltaic power plant of approximately 9 MW in Israel;

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 about 6%-8% of Israel’s total current electricity consumption;

75% of Chashgal Elyon Ltd., Agira Sheuva Electra, L.P. and Ellomay Pumped Storage (2014) Ltd., all of which are involved in a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel;

100% of Groen Gas Goor B.V. and of Groen Gas Oude-Tonge B.V., project companies developing anaerobic digestion plants with a green gas production capacity of approximately 375 Nm3/h, in Goor, the Netherlands and 475 Nm3/h, in Oude Tonge, the Netherlands, respectively;

51% of Talasol, which is involved in a project to construct a photovoltaic plant with a peak capacity of 300MW in the municipality of Talaván, Cáceres, Spain.

Ellomay Capital is controlled by Mr. Shlomo Nehama, Mr. Hemi Raphael and Mr. Ran Fridrich. Mr. Nehama is one of Israel’s prominent businessmen and the former Chairman of Israel’s leading bank, Bank Hapohalim, and Messrs. Raphael and Fridrich both have vast experience in financial and industrial businesses. These controlling shareholders, along with Ellomay’s dedicated professional management, accumulated extensive experience in recognizing suitable business opportunities worldwide. Ellomay believes the expertise of Ellomay’s controlling shareholders and management enables the Company to access the capital markets, as well as assemble global institutional investors and other potential partners. As a result, we believe Ellomay is capable of considering significant and complex transactions, beyond its immediate financial resources.
 
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 weather conditions, regulatory changes, changes in the supply and prices of resources required for the operation of the Company’s facilities (such as waste and natural gas), changes in demand and technical and other disruptions in the operations or construction of the power plants owned by the Company. These and other risks and uncertainties associated with the Company’s business 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 Weintraub
CFO
Tel: +972 (3) 797-1111
Email: hilai@ellomay.com


Ellomay Capital Ltd. and its Subsidiaries

Condensed Consolidated Statements of Financial Position

   
December 31,
   
June 30,
   
June 30,
 
   
2018
   
2019
   
2019
 
   
Audited
   
Unaudited
   
Unaudited
 
   
€ in thousands
   
Convenience Translation into US$ in thousands
 
Assets
                 
Current assets
                 
Cash and cash equivalents
   
36,882
     
55,535
     
63,253
 
Marketable securities
   
2,132
     
2,204
     
2,510
 
Restricted cash and marketable securities
   
4,653
     
1,315
     
1,498
 
Receivable from concession project
   
1,292
     
1,390
     
1,583
 
Financial assets
   
1,282
     
1,354
     
1,542
 
Trade and other receivables
   
12,623
     
11,407
     
12,992
 
     
58,864
     
73,205
     
83,378
 
Non-current assets
                       
Investment in equity accounted investee
   
27,746
     
29,158
     
33,210
 
Advances on account of investments
   
798
     
843
     
960
 
Receivable from concession project
   
25,710
     
26,510
     
30,194
 
Fixed assets
   
87,220
     
128,766
     
146,662
 
Right-of-use asset
   
-
     
4,134
     
4,709
 
Intangible asset
   
4,882
     
4,987
     
5,680
 
Restricted cash and deposits
   
2,062
     
10,917
     
12,434
 
Deferred tax
   
2,423
     
2,903
     
3,306
 
Long term receivables
   
1,455
     
6,658
     
7,583
 
     
152,296
     
214,876
     
244,738
 
Total assets
   
211,160
     
288,081
     
328,116
 
                         
Liabilities and Equity
                       
Current liabilities
                       
Current maturities of long term loans
   
5,864
     
6,932
     
7,895
 
Debentures
   
8,758
     
9,266
     
10,554
 
Trade payables
   
2,126
     
3,191
     
3,632
 
Other payables
   
3,103
     
2,985
     
3,400
 
     
19,851
     
22,374
     
25,481
 
Non-current liabilities
                       
Lease liability
   
-
     
3,940
     
4,488
 
Long-term loans
   
60,228
     
120,818
     
137,609
 
Debentures
   
42,585
     
40,542
     
46,176
 
Deferred tax
   
6,219
     
6,485
     
7,386
 
Other long-term liabilities
   
5,320
     
11,318
     
12,891
 
     
114,352
     
183,103
     
208,550
 
Total liabilities
   
134,203
     
205,477
     
234,031
 
                         
Equity
                       
Share capital
   
19,980
     
19,988
     
22,766
 
Share premium
   
58,344
     
58,358
     
66,469
 
Treasury shares
   
(1,736
)
   
(1,736
)
   
(1,977
)
Transaction reserve with non-controlling Interests
   
-
     
5,614
     
6,394
 
Reserves
   
1,169
     
1,156
     
1,317
 
Accumulated deficit
   
758
     
(1,993
)
   
(2,270
)
Total equity attributed to shareholders of the Company
   
78,515
     
81,387
     
92,699
 
Non-Controlling Interest
   
(1,558
)
   
1,217
     
1,386
 
Total equity
   
76,957
     
82,604
     
94,085
 
Total liabilities and equity
   
211,160
     
288,081
     
328,116
 

* Convenience translation into US$ (exchange rate as at June 30, 2019: euro 1 = US$ 1.139)



Ellomay Capital Ltd. and its Subsidiaries

Condensed Consolidated Statements of Comprehensive Income (in thousands, except per share data)

   
For the year ended December 31,
   
For the three months ended June 30,
   
For the six months ended June 30,
   
For the six months ended June 30,
 
   
2018
   
2018
   
2019
   
2018
   
2019
   
2019
 
   
Audited
   
Unaudited
   
Unaudited
   
Unaudited
 
   
€ in thousands
   
€ in thousands
   
€ in thousands
   
Convenience Translation into US$*
 
Revenues
   
18,117
     
5,119
     
5,570
     
8,151
     
10,303
     
11,735
 
Operating expenses
   
(6,342
)
   
(1,710
)
   
(1,791
)
   
(2,610
)
   
(3,455
)
   
(3,935
)
Depreciation expenses
   
(5,816
)
   
(1,409
)
   
(1,465
)
   
(2,767
)
   
(3,043
)
   
(3,466
)
Gross profit
   
5,959
     
2,000
     
2,314
     
2,774
     
3,805
     
4,334
 
                                                 
Project development costs
   
(2,878
)
   
(975
)
   
(1,840
)
   
(1,771
)
   
(2,714
)
   
(3,091
)
General and administrative expenses
   
(3,600
)
   
(792
)
   
(982
)
   
(1,977
)
   
(1,879
)
   
(2,140
)
Share of profits of equity accounted investee
   
2,545
     
(662
)
   
(1,133
)
   
501
     
31
     
35
 
Other income, net
   
884
     
69
     
-
     
73
     
-
     
-
 
Operating profit (loss)
   
2,910
     
(360
)
   
(1,641
)
   
(400
)
   
(757
)
   
(862
)
                                                 
Financing income
   
2,936
     
475
     
480
     
1,588
     
870
     
991
 
Financing expenses in connection with derivatives and other assets, net
   
494
     
737
     
29
     
285
     
460
     
524
 
Financing expenses
   
(5,521
)
   
(1,769
)
   
(1,972
)
   
(2,789
)
   
(4,457
)
   
(5,076
)
Financing expenses, net
   
(2,091
)
   
(557
)
   
(1,463
)
   
(916
)
   
(3,127
)
   
(3,561
)
Profit (loss) before taxes on income
   
819
     
(917
)
   
(3,104
)
   
(1,316
)
   
(3,884
)
   
(4,423
)
Tax benefit (taxes on income)
   
(215
)
   
193
     
(325
)
   
182
     
(514
)
   
(585
)
Profit (loss) for the period
   
604
     
(724
)
   
(3,429
)
   
(1,134
)
   
(4,398
)
   
(5,008
)
Profit (loss) attributable to:
                                               
Owners of the Company
   
1,057
     
(642
)
   
(2,040
)
   
(898
)
   
(2,751
)
   
(3,132
)
Non-controlling interests
   
(453
)
   
(82
)
   
(1,389
)
   
(236
)
   
(1,647
)
   
(1,876
)
Profit (loss) for the period
   
604
     
(724
)
   
(3,429
)
   
(1,134
)
   
(4,398
)
   
(5,008
)
                                                 
Other comprehensive income (loss) items that after
                                               
initial recognition in comprehensive income (loss)
                                               
were or will be transferred to profit or loss:
                                               
Foreign currency translation differences for foreign operations
   
(787
)
   
499
     
(250
)
   
(799
)
   
982
     
1,119
 
                                                 
Effective portion of change in fair value of cash flow hedges
   
(1,008
)
   
202
     
(718
)
   
(724
)
   
(368
)
   
(419
)
Net change in fair value of cash flow hedges transferred to profit or loss
   
643
     
(277
)
   
(94
)
   
478
     
(1,104
)
   
(1,257
)
Total other comprehensive income (loss)
   
(1,152
)
   
424
     
(1,062
)
   
(1,045
)
   
(490
)
   
(557
)
Total comprehensive loss for the period
   
(548
)
   
(300
)
   
(4,491
)
   
(2,179
)
   
(4,888
)
   
(5,565
)
                                                 
Basic net earnings (loss) per share
   
0.10
     
(0.06
)
   
(0.19
)
   
(0.08
)
   
(0.26
)
   
(0.29
)
Diluted net earnings (loss) per share
   
0.10
     
(0.06
)
   
(0.19
)
   
(0.08
)
   
(0.26
)
   
(0.29
)

* Convenience translation into US$ (exchange rate as at June 30, 2019: euro 1 = US$ 1.139)



Ellomay Capital Ltd. and its Subsidiaries

Condensed Consolidated Statements of Changes in Equity (in thousands)

                                                   
Non-
       
                                                   
controlling
   
Total
 
   
Attributable to shareholders of the Company
   
Interests
   
Equity
 
               

         

         
Transaction
                   
               
Retained
         
Translation
reserve
         
reserve
with
                   
   
Share
   
Share
   
earnings
(accumulated
   
Treasury
   
from
foreign
   
Hedging
   
non-
controlling
                   
   
capital
   
Premium
   
deficit)
   
shares
   
operations
   
Reserve
   
Interests
   
Total
             
   
€ in thousands
 
For the six month ended June 30, 2019:
                                                           
Balance as at January 1, 2019
   
19,980
     
58,344
     
758
     
(1,736
)
   
1,396
     
(227
)
   
-
     
78,515
     
(1,558
)
   
76,957
 
Loss for the period
   
-
     
-
     
(2,751
)
   
-
     
-
     
-
     
-
     
(2,751
)
   
(1,647
)
   
(4,398
)
Other comprehensive loss for the period
   
-
     
-
     
-
     
-
     
1,459
     
(1,472
)
   
-
     
(13
)
   
(477
)
   
(490
)
Total comprehensive loss for the period
   
-
     
-
     
(2,751
)
   
-
     
1,459
     
(1,472
)
   
-
     
(2,764
)
   
(2,124
)
   
(4,888
)
                                                                                 
Transactions with owners of the
                                                                               
 Company, recognized directly in equity:
                                                                               
Sale of shares in subsidiaries to
                                                                               
non-controlling interests
   
-
     
-
     
-
     
-
     
-
     
-
     
5,614
     
5,614
     
4,899
     
10,513
 
Options exercise
   
8
     
11
     
-
     
-
     
-
     
-
     
-
     
19
     
-
     
19
 
Share-based payments
   
-
     
3
     
-
     
-
     
-
     
-
     
-
     
3
     
-
     
3
 
                                                                                 
Balance as at June 30, 2019
   
19,988
     
58,358
     
(1,993
)
   
(1,736
)
   
2,855
     
(1,699
)
   
5,614
     
81,387
     
1,217
     
82,604
 


Ellomay Capital Ltd. and its Subsidiaries

Condensed Consolidated Interim Statements of Changes in Equity (in thousands) (cont’d)

                                                   
Non-
       
                                                   
controlling
   
Total
 
   
Attributable to shareholders of the Company
   
Interests
   
Equity
 
               

         

         
Transaction
                   
               
Retained
         
Translation
reserve
         
reserve
with
                   
   
Share
   
Share
   
earnings
(accumulated
   
Treasury
   
from
foreign
   
Hedging
   
non-
controlling
                   
   
capital
   
Premium
   
deficit)
   
Shares
   
operations
   
Reserve
   
Interests
   
Total
             
   
US$ in thousands*
 
For the six month ended June 30, 2019:
                                                           
Balance as at January 1, 2019
   
22,757
     
66,453
     
862
     
(1,977
)
   
1,590
     
(259
)
   
-
     
89,426
     
(1,775
)
   
87,651
 
Loss for the period
   
-
     
-
     
(3,132
)
   
-
     
-
     
-
     
-
     
(3,132
)
   
(1,876
)
   
(5,008
)
Other comprehensive loss for the period
   
-
     
-
     
-
     
-
     
1,662
     
(1,676
)
   
-
     
(14
)
   
(543
)
   
(557
)
Total comprehensive loss for the period
   
-
     
-
     
(3,132
)
   
-
     
1,662
     
(1,676
)
   
-
     
(3,146
)
   
(2,419
)
   
(5,565
)
                                                                                 
Transactions with owners of the
                                                                               
 Company, recognized directly in equity:
                                                                               
Sale of shares in subsidiaries to
                                                                               
non-controlling interests
   
-
     
-
     
-
     
-
     
-
     
-
     
6,394
     
6,394
     
5,580
     
11,974
 
Options exercise
   
9
     
13
     
-
     
-
     
-
     
-
     
-
     
22
     
-
     
22
 
Share-based payments
   
-
     
3
     
-
     
-
     
-
     
-
     
-
     
3
     
-
     
3
 
                                                                                 
Balance as at June 30, 2019
   
22,766
     
66,469
     
(2,270
)
   
(1,977
)
   
3,252
     
(1,935
)
   
6,394
     
92,699
     
1,386
     
94,085
 

* Convenience translation into US$ (exchange rate as at June 30, 2019: euro 1 = US$ 1.139)


Ellomay Capital Ltd. and its Subsidiaries

Condensed Consolidated Interim Statements of Changes in Equity (in thousands) (cont’d)

                                                   
Non-
       
                                                   
controlling
   
Total
 
   
Attributable to shareholders of the Company
   
Interests
   
Equity
 
               

         

         
Transaction
                   
               
Retained
         
Translation
reserve
         
reserve
with
                   
   
Share
   
Share
   
earnings
(accumulated
   
Treasury
   
from
foreign
   
Hedging
   
non-
controlling
                   
   
capital
   
Premium
   
deficit)
   
shares
   
operations
   
Reserve
   
Interests
   
Total
             
         
€ in thousands
 
For the three month ended June 30, 2019:
                                                           
Balance as of March 31, 2019
   
19,988
     
58,356
     
47
     
(1,736
)
   
2,710
     
(887
)
   
-
     
78,478
     
(1,898
)
   
76,580
 
Loss for the period
   
-
     
-
     
(2,040
)
   
-
     
-
     
-
     
-
     
(2,040
)
   
(1,389
)
   
(3,429
)
Other comprehensive loss for the period
   
-
     
-
     
-
     
-
     
145
     
(812
)
   
-
     
(667
)
   
(395
)
   
(1,062
)
Total comprehensive loss for the period
   
-
     
-
     
(2,040
)
   
-
     
145
     
(812
)
   
-
     
(2,707
)
   
(1,784
)
   
(4,491
)
                                                                                 
Transactions with owners of the
                                                                               
 Company, recognized directly in equity:
                                                                               
Sale of shares in subsidiaries to
                                                                               
non-controlling interests
   
-
     
-
     
-
     
-
     
-
     
-
     
5,614
     
5,614
     
4,899
     
10,513
 
Options exercise
   
-
     
-
     
-
     
-
     
-
     
-
     
-
     
-
     
-
     
-
 
Share-based payments
   
-
     
2
     
-
     
-
     
-
     
-
     
-
     
2
     
-
     
2
 
                                                                                 
Balance as at June 30, 2019
   
19,988
     
58,358
     
(1,993
)
   
(1,736
)
   
2,855
     
(1,699
)
   
5,614
     
81,387
     
1,217
     
82,604
 



Ellomay Capital Ltd. and its Subsidiaries

Condensed Consolidated Interim Statements of Changes in Equity (in thousands) (cont’d)

                                             
Non-
       
                                             
controlling
   
Total
 
         
Attributable to shareholders of the Company
   
Interests
   
Equity
 
               
Retained
         
Translation
                         
               
earnings
         
reserve from
                         
   
Share
   
Share
   
(accumulated
   
Treasury
   
foreign
   
Hedging
                   
   
capital
   
premium
   
deficit)
   
shares
   
operations
   
Reserve
   
Total
             
   
€ in thousands
 
                                                       
For the year ended December 31, 2018:
                                                     
                                                       
Balance as at January 1, 2018
   
19,980
     
58,339
     
(299
)
   
(1,736
)
   
2,219
     
138
     
78,641
     
(1,141
)
   
77,500
 
Profit for the year
   
-
     
-
     
1,057
     
-
     
-
     
-
     
1,057
     
(453
)
   
604
 
Other comprehensive income (loss) for the year
   
-
     
-
     
-
     
-
     
(823
)
   
(365
)
   
(1,188
)
   
36
     
(1,152
)
Total comprehensive income (loss) for the year
   
-
     
-
     
1,057
     
-
     
(823
)
   
(365
)
   
(131
)
   
(417
)
   
(548
)
                                                                         
Transactions with owners of the
                                                                       
 Company, recognized directly in equity:
                                                                       
Share-based payments
   
-
     
5
     
-
     
-
     
-
     
-
     
5
     
-
     
5
 
                                                                         
Balance as at December 31, 2018
   
19,980
     
58,344
     
758
     
(1,736
)
   
1,396
     
(227
)
   
78,515
     
(1,558
)
   
76,957
 



Ellomay Capital Ltd. and its Subsidiaries

Condensed Consolidated Interim Statements of Changes in Equity (in thousands) (cont’d)

                                             
Non-
       
                                             
controlling
   
Total
 
         
Attributable to shareholders of the Company
   
Interests
   
Equity
 
               

         
Translation
                         
               
Retained
earnings
         
reserve
from
                         
   
Share
   
Share
   
(accumulated
   
Treasury
   
foreign
   
Hedging
                   
   
capital
   
Premium
   
deficit)
   
shares
   
operations
   
Reserve
   
Total
             
   
€ in thousands
 
                                                       
For the six month ended June 30, 2018:
                                                     
Balance as at January 1, 2018
   
19,980
     
58,339
     
(299
)
   
(1,736
)
   
2,219
     
138
     
78,641
     
(1,141
)
   
77,500
 
Loss for the period
   
-
     
-
     
(898
)
   
-
     
-
     
-
     
(898
)
   
(236
)
   
(1,134
)
Other comprehensive loss for the period
   
-
     
-
     
-
     
-
     
(822
)
   
(246
)
   
(1,068
)
   
23
     
(1,045
)
Total comprehensive loss for the period
   
-
     
-
     
(898
)
   
-
     
(822
)
   
(246
)
   
(1,966
)
   
(213
)
   
(2,179
)
                                                                         
Transactions with owners of the
                                                                       
 Company, recognized directly in equity:
                                                                       
Share-based payments
   
-
     
2
     
-
     
-
     
-
     
-
     
2
     
-
     
2
 
                                                                         
Balance as at June 30, 2018
   
19,980
     
58,341
     
(1,197
)
   
(1,736
)
   
1,397
     
(108
)
   
76,677
     
(1,354
)
   
75,323
 


Ellomay Capital Ltd. and its Subsidiaries

Condensed Consolidated Interim Statements of Changes in Equity (in thousands) (cont’d)


                                             
Non-
       
                                             
controlling
   
Total
 
         
Attributable to shareholders of the Company
   
Interests
   
Equity
 
               

         
Translation
                         
               
Retained
earnings
         
reserve
from
                         
   
Share
   
Share
   
(accumulated
   
Treasury
   
foreign
   
Hedging
                   
   
capital
   
Premium
   
deficit)
   
shares
   
operations
   
Reserve
   
Total
             
   
€ in thousands
 
                                                       
For the three month ended June 30, 2018:
                                                     
Balance as of March 31, 2018
   
19,980
     
58,340
     
(555
)
   
(1,736
)
   
877
     
(33
)
   
76,873
     
(1,250
)
   
75,623
 
Loss for the period
   
-
     
-
     
(642
)
   
-
     
-
     
-
     
(642
)
   
(83
)
   
(725
)
Other comprehensive loss for the period
   
-
     
-
     
-
     
-
     
520
     
(75
)
   
445
     
(21
)
   
424
 
Total comprehensive loss for the period
   
-
     
-
     
(642
)
   
-
     
520
     
(75
)
   
(197
)
   
(104
)
   
(301
)
                                                                         
Transactions with owners of the
                                                                       
 Company, recognized directly in equity:
                                                                       
Share-based payments
   
-
     
1
     
-
     
-
     
-
     
-
     
1
     
-
     
1
 
                                                                         
Balance as at June 30, 2018
   
19,980
     
58,341
     
(1,197
)
   
(1,736
)
   
1,397
     
(108
)
   
76,677
     
(1,354
)
   
75,323
 


Ellomay Capital Ltd. and its Subsidiaries

Condensed Consolidated Interim Statements of Cash Flow (in thousands)

   
For the year ended December 31, 2018
   
For the three months ended June 30, 2018
   
For the three months ended June 30, 2019
   
For the six months ended June 30, 2018
   
For the six months ended June 30, 2019
   
For the six months ended June 30, 2019
 
   
Audited
   
Unaudited
   
Unaudited
   
Unaudited
   
Unaudited
   
Unaudited
 
   
€ in thousands
   
Convenience Translation into US$*
 
Cash flows from operating activities
                                   
Loss for the period
   
604
     
(725
)
   
(3,429
)
   
(1,134
)
   
(4,398
)
   
(5,008
)
Adjustments for:
                                               
Financing expenses, net
   
2,091
     
557
     
1,463
     
916
     
3,127
     
3,561
 
Depreciation
   
5,816
     
1,409
     
1,465
     
2,767
     
3,043
     
3,466
 
Share-based payment transactions
   
5
     
1
     
2