Exhibit 99.1


Ellomay Capital Reports Results for the Three and Nine Months Ended September 30, 2019

Tel-Aviv, Israel, December 31, 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 nine months ended September 30, 2019.

Ran Fridrich, CEO and a board member of Ellomay commented: “During the nine month period ended September 30, 2019 the Company operated in accordance with its business plan, while executing an extensive development and investment plan. Project development expenses increased by approximately 32% compared to the same period last year. Equity attributed to shareholders of the Company increased by approximately 26% during the period. The Talasol project (300 MW) in Spain is progressing according to plan and construction of more than 50% was already completed. The project is currently expected to commence commercial operation in Q4 of 2020. In addition, the Company is promoting the development of 550 MW PV in Spain and Italy”.

Financial Highlights

Revenues were approximately €15.4 million for the nine months ended September 30, 2019, compared to approximately €13.9 million for the nine months ended September 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 €5 million for the nine months ended September 30, 2019, compared to approximately €4.6 million for the nine months ended September 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 €4.7 million for the nine months ended September 30, 2019, compared to approximately €4.4 million for the nine months ended September 30, 2018.
 
Project development costs were approximately €3.5 million for the nine months ended September 30, 2019, compared to approximately €2.6 million for the nine months ended September 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.
 
General and administrative expenses were approximately €2.9 million for the nine months ended September 30, 2019, compared to approximately €2.8 million for the nine months ended September 30, 2018.
 
Company’s share of profits of equity accounted investee, after elimination of intercompany transactions, was approximately €2.4 million for the nine months ended September 30, 2019, compared to approximately €2.2 million in the nine months ended September 30, 2018.
 
Financing expenses, net was approximately €4.6 million for the nine months ended September 30, 2019, compared to approximately €1.8 million for the nine months ended September 30, 2018. The increase in financing expenses was mainly due to expenses in connection with exchange rate differences amounting to approximately €2.1 million in the nine months ended September 30, 2019, mainly in connection with the Company’s NIS denominated Debentures, the loan to an equity accounted investee and cash and cash equivalents, caused by the 11.3% devaluation of the euro against the NIS during this period, compared to income in connection with exchange rate differences amounting to approximately €0.5 million in the nine months ended September 30, 2018, caused by the 1.5% revaluation of the euro against the NIS during this period.
 
Taxes on income was approximately €0.9 million for the nine months ended September 30, 2019, compared to taxes on income of approximately €0.1 million for the nine months ended September 30, 2018. The lower taxes on income for the nine months ended September 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 €3.8 million for the nine months ended September 30, 2019, compared to approximately €0.1 million for the nine months ended September 30, 2018.
 
Total other comprehensive income was approximately €13.8 million for the nine months ended September 30, 2019, compared to a loss of approximately €0.8 million for the nine months ended September 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 income was approximately €10 million for the nine months ended September 30, 2019, compared to a loss of approximately €0.9 million for the nine months ended September 30, 2018.
 
EBITDA was approximately €6.4 million for the nine months ended September 30, 2019, compared to approximately €6.2 million for the nine months ended September 30, 2018.
 
Net cash from operating activities was approximately €4.3 million for the nine months ended September 30, 2019, compared to approximately €4.6 million for the nine months ended September 30, 2018.
 
On July 17, 2019, the Company issued 800,000 ordinary shares to several Israeli classified investors in a private placement. The price per share in the Private Placement was set at NIS 39.20 (approximately $11) and the gross proceeds to the Company were approximately NIS 31.3 million (approximately €7.8 million).
 
On July 25, 2019, the Company issued NIS 89,065,000 (approximately €22.7 million) Series C Debentures in a public offering in Israel at a fixed annual interest rate of 3.3%. The net proceeds of the offering, net of related expenses such as consultancy fee and commissions were approximately NIS 87.8 million (approximately €22.3 million).

During July 2019, the Company completed the purchase of 49% of the companies that own the anaerobic digestion plans in Goor and Oude-Tonge, both in the Netherlands from Ludan and several entities affiliated with Ludan for an acquisition price of approximately 3 million.

On December 16, 2019, the Company announced its intention to redeem the entire outstanding principal of the Company’s Series A Debentures. The redemption is scheduled for January 5, 2020. Pursuant to the terms of the deed of trust governing the Series A Debentures, the early redemption amount will be the sum of approximately NIS 80.1 million (approximately €20.7 million) in principal, the sum of approximately NIS 0.05 million (approximately €0.01 million) in accrued interest and a prepayment charge of approximately NIS 5.7 million (approximately €1.5 million), amounting to an aggregate redemption amount of approximately NIS 85.9 million (approximately €22.2 million, based on the exchange rate as of December 30, 2019).
 
On December 23, 2019, the Company reported the sale of ten Italian indirect wholly-owned subsidiaries (the “Italian Subsidiaries”), which own twelve photovoltaic plants with an aggregate nominal capacity of approximately 22.6 MW. The agreed purchase price was €41 million for the cutoff date of December 31, 2018 and adjusted in connection with funds received by the Company from the Italian Subsidiaries during 2019 (approximately €2.3 million), resulting in a cash purchase price of approximately €38.7 million. Based on the information currently available, the Company estimates that it will record a profit of approximately €19 million in connection with the sale of the Italian Subsidiaries in its financial results for the fourth quarter of 2019. The profit currently expected to be recorded is an unaudited and unreviewed estimate and the actual results may be different from this estimation. The financial results of the Company included in this release do not reflect the sale of the Italian Subsidiaries and therefore are not indicative of future results of the Company.

As of December 1, 2019, the Company held approximately €59.1 million in cash and cash equivalents, approximately €6.5 million in Short-term deposits, approximately €2.3 million in marketable securities and approximately €11.2 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 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;

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;

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;

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.

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,
   
September 30,
   
September 30,
 
   
2018
   
2019
   
2019
 
   
Audited
   
Unaudited
   
Unaudited
 
   
€ in thousands
   
Convenience Translation into US$ in thousands
 
Assets
                 
Current assets
                 
Cash and cash equivalents
   
36,882
     
70,808
     
77,376
 
Marketable securities
   
2,132
     
2,303
     
2,517
 
Short term deposits
   
-
     
6,570
     
7,179
 
Restricted cash and marketable securities
   
4,653
     
15
     
16
 
Receivable from concession project
   
1,292
     
1,498
     
1,637
 
Financial assets
   
1,282
     
1,445
     
1,579
 
Trade and other receivables
   
12,623
     
10,239
     
11,189
 
     
58,864
     
92,878
     
101,493
 
Non-current assets
                       
Investment in equity accounted investee
   
27,746
     
33,391
     
36,488
 
Advances on account of investments
   
798
     
900
     
983
 
Receivable from concession project
   
25,710
     
27,891
     
30,478
 
Fixed assets
   
87,220
     
138,574
     
151,429
 
Right-of-use asset
   
-
     
4,165
     
4,551
 
Intangible asset
   
4,882
     
5,231
     
5,716
 
Restricted cash and deposits
   
2,062
     
11,226
     
12,267
 
Deferred tax
   
2,423
     
2,477
     
2,707
 
Long term receivables
   
1,455
     
1,674
     
1,829
 
Derivatives
   
-
     
23,966
     
26,189
 
     
152,296
     
249,495
     
272,637
 
Total assets
   
211,160
     
342,373
     
374,130
 
                         
Liabilities and Equity
                       
Current liabilities
                       
Current maturities of long term loans
   
5,864
     
7,051
     
7,705
 
Debentures
   
8,758
     
9,963
     
10,887
 
Trade payables
   
2,126
     
2,540
     
2,773
 
Other payables
   
3,103
     
4,610
     
5,038
 
     
19,851
     
24,164
     
26,403
 
Non-current liabilities
                       
Lease liability
   
-
     
3,987
     
4,357
 
Long-term loans
   
60,228
     
118,262
     
129,232
 
Debentures
   
42,585
     
66,495
     
72,663
 
Deferred tax
   
6,219
     
10,471
     
11,442
 
Other long-term liabilities
   
228
     
27
     
30
 
Derivatives
   
5,092
     
12,437
     
13,591
 
     
114,352
     
211,679
     
231,315
 
Total liabilities
   
134,203
     
235,843
     
257,718
 
                         
Equity
                       
Share capital
   
19,980
     
21,998
     
24,039
 
Share premium
   
58,344
     
64,155
     
70,106
 
Treasury shares
   
(1,736
)
   
(1,736
)
   
(1,897
)
Transaction reserve with non-controlling Interests
   
-
     
6,106
     
6,672
 
Reserves
   
1,169
     
9,569
     
10,457
 
Retained earnings (accumulated deficit)
   
758
     
(865
)
   
(945
)
Total equity attributed to shareholders of the Company
   
78,515
     
99,227
     
108,432
 
Non-Controlling Interest
   
(1,558
)
   
7,303
     
7,980
 
Total equity
   
76,957
     
106,530
     
116,412
 
Total liabilities and equity
   
211,160
     
342,373
     
374,130
 

* Convenience translation into US$ (exchange rate as at September 30, 2019: euro 1 = US$ 1.093)



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
September 30,
   
For the nine months ended
September 30
   
For the nine months ended September 30,
 
   
2018
   
2018
   
2019
   
2018
   
2019
   
2019
 
   
Audited
   
Unaudited
   
Unaudited
   
Unaudited
 
   
€ in thousands
   
€ in thousands
   
€ in thousands
   
Convenience Translation into US$*
 
Revenues
   
18,117
     
5,720
     
5,132
     
13,871
     
15,435
     
16,867
 
Operating expenses
   
(6,342
)
   
(1,963
)
   
(1,594
)
   
(4,573
)
   
(5,049
)
   
(5,517
)
Depreciation expenses
   
(5,816
)
   
(1,597
)
   
(1,671
)
   
(4,364
)
   
(4,714
)
   
(5,151
)
Gross profit
   
5,959
     
2,160
     
1,867
     
4,934
     
5,672
     
6,199
 
                                                 
Project development costs
   
(2,878
)
   
(851
)
   
(757
)
   
(2,622
)
   
(3,471
)
   
(3,793
)
General and administrative expenses
   
(3,600
)
   
(785
)
   
(979
)
   
(2,762
)
   
(2,858
)
   
(3,123
)
Share of profits of equity accounted investee
   
2,545
     
1,713
     
2,351
     
2,214
     
2,382
     
2,603
 
Other income, net
   
884
     
-
     
-
     
73
     
-
     
-
 
Operating profit
   
2,910
     
2,237
     
2,482
     
1,837
     
1,725
     
1,886
 
                                                 
Financing income
   
2,936
     
518
     
572
     
1,857
     
1,442
     
1,576
 
Financing income (expenses) in connection with
  derivatives and other assets, net
   
494
     
31
     
535
     
316
     
995
     
1,087
 
Financing expenses
   
(5,521
)
   
(1,468
)
   
(2,592
)
   
(4,008
)
   
(7,049
)
   
(7,703
)
Financing expenses, net
   
(2,091
)
   
(919
)
   
(1,485
)
   
(1,835
)
   
(4,612
)
   
(5,040
)
                                                 
Profit (loss) before taxes on income
   
819
     
1,318
     
997
     
2
     
(2,887
)
   
(3,154
)
                                                 
Taxes on income
   
(215
)
   
(302
)
   
(399
)
   
(120
)
   
(913
)
   
(998
)
                                                 
Profit (loss) for the period
   
604
     
1,016
     
598
     
(118
)
   
(3,800
)
   
(4,152
)
Profit (loss) attributable to:
                                               
Owners of the Company
   
1,057
     
1,282
     
1,128
     
384
     
(1,623
)
   
(1,773
)
Non-controlling interests
   
(453
)
   
(266
)
   
(530
)
   
(502
)
   
(2,177
)
   
(2,379
)
Profit (loss) for the period
   
604
     
1,016
     
598
     
(118
)
   
(3,800
)
   
(4,152
)
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
)
   
270
     
8,129
     
(529
)
   
9,111
     
9,956
 
                                                 
Effective portion of change in fair value of
   cash flow hedges
   
(1,008
)
   
192
     
7,345
     
(532
)
   
6,977
     
7,624
 
Net change in fair value of cash flow hedges
   transferred to profit or loss
   
643
     
(183
)
   
(1,174
)
   
295
     
(2,278
)
   
(2,489
)
Total other comprehensive income (loss)
   
(1,152
)
   
279
     
14,300
     
(766
)
   
13,810
     
15,091
 
Total comprehensive income (loss) for the period
   
(548
)
   
1,295
     
14,898
     
(884
)
   
10,010
     
10,939
 
                                                 
Basic net income (loss) per share
   
0.10
     
0.12
     
0.10
     
0.04
     
(0.14
)
   
(0.16
)
Diluted net income (loss) per share
   
0.10
     
0.12
     
0.10
     
0.04
     
(0.14
)
   
(0.16
)

* Convenience translation into US$ (exchange rate as at September 30, 2019: euro 1 = US$ 1.093)



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
 
               
Retained
earnings
(accumulated
deficit)
         
Translation
reserve from
foreign
operations
         
Transaction
reserve with
non-controlling
Interests
                   
                                                       
   
Share
capital
   
Share
Premium
       
Treasury
shares
       
Hedging
Reserve
                       
                               
Total
             
         
€ in thousands
 
For the nine months ended
  September 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
   
-
     
-
     
(1,623
)
   
-
     
-
     
-
     
-
     
(1,623
)
   
(2,177
)
   
(3,800
)
Other comprehensive loss
  for the period
   
-
     
-
     
-
     
-
     
3,701
     
4,699
     
-
     
8,400
     
5,410
     
13,810
 
Total comprehensive loss
  for the period
   
-
     
-
     
(1,623
)
   
-
     
3,701
     
4,699
     
-
     
6,777
     
3,233
     
10,010
 
                                                                                 
Transactions with owners of the
                                                                               
  Company, recognized directly
  in equity:
                                                                               
Sale of shares in subsidiaries to
                                                                               
  non-controlling interests
   
-
     
-
     
-
     
-
     
-
     
-
     
5,439
     
5,439
     
5,374
     
10,813
 
Buy of shares in subsidiaries from
                                                                               
  non-controlling interests
   
-
     
-
     
-
     
-
     
-
     
-
     
667
     
667
     
254
     
921
 
Issuance of ordinary shares
   
2,010
     
5,797
     
-
     
-
     
-
     
-
     
-
     
7,807
     
-
     
7,807
 
Options exercise
   
8
     
11
     
-
     
-
     
-
     
-
     
-
     
19
     
-
     
19
 
Share-based payments
   
-
     
3
     
-
     
-
     
-
     
-
     
-
     
3
     
-
     
3
 
                                                                                 
Balance as at September 30, 2019
   
21,998
     
64,155
     
(865
)
   
(1,736
)
   
5,097
     
4,472
     
6,106
     
99,227
     
7,303
     
106,530
 



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
earnings
(accumulated
deficit)
         
Translation
reserve from
Foreign
operations
         
Transaction
reserve with
non-controlling
Interests
                   
                                                       
   
Share
capital
   
Share
Premium
       
Treasury
Shares
       
Hedging
Reserve
         
Total
             
                                             
         
US$ in thousands*
 
For the nine months ended
  September 30, 2019:
                                                           
Balance as at January 1, 2019
   
21,834
     
63,756
     
828
     
(1,897
)
   
1,526
     
(248
)
   
-
     
85,799
     
(1,704
)
   
84,095
 
Loss for the period
   
-
     
-
     
(1,773
)
   
-
     
-
     
-
     
-
     
(1,773
)
   
(2,379
)
   
(4,152
)
Other comprehensive loss
  for the period
   
-
     
-
     
-
     
-
     
4,044
     
5,135
     
-
     
9,179
     
5,912
     
15,091
 
Total comprehensive loss
  for the period
   
-
     
-
     
(1,773
)
   
-
     
4,044
     
5,135
     
-
     
7,406
     
3,533
     
10,939
 
                                                                                 
Transactions with owners of the
                                                                               
  Company, recognized directly
  in equity:
                                                                               
Sale of shares in subsidiaries to
                                                                               
  non-controlling interests
   
-
     
-
     
-
     
-
     
-
     
-
     
5,943
     
5,943
     
5,873
     
11,816
 
Buy of shares in subsidiaries from
                                                                               
  non-controlling interests
   
-
     
-
     
-
     
-
     
-
     
-
     
729
     
729
     
278
     
1,007
 
Issuance of ordinary shares
   
2,196
     
6,335
     
-
     
-
     
-
     
-
     
-
     
8,531
     
-
     
8,531
 
Options exercise
   
9
     
12
     
-
     
-
     
-
     
-
     
-
     
21
     
-
     
21
 
Share-based payments
   
-
     
3
     
-
     
-
     
-
     
-
     
-
     
3
     
-
     
3
 
                                                                                 
Balance as at September 30, 2019
   
24,039
     
70,106
     
(945
)
   
(1,897
)
   
5,570
     
4,887
     
6,672
     
108,432
     
7,980
     
116,412
 

* Convenience translation into US$ (exchange rate as at September 30, 2019: euro 1 = US$ 1.093)




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
earnings
(accumulated
deficit)
         
Translation
reserve from
foreign
operations
         
Transaction
reserve with
non-controlling
Interests
                   
                                                       
   
Share
capital
   
Share
Premium
       
Treasury
       
Hedging
Reserve
         
Total
             
               
shares
                             
         
€ in thousands
 
For the three months ended
  September 30, 2019:
                                                           
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
 
Loss for the period
   
-
     
-
     
1,128
     
-
     
-
     
-
     
-
     
1,128
     
(530
)
   
598
 
Other comprehensive loss
  for the period
   
-
     
-
     
-
     
-
     
2,242
     
6,171
     
-
     
8,413
     
5,887
     
14,300
 
Total comprehensive loss
  for the period
   
-
     
-
     
1,128
     
-
     
2,242
     
6,171
     
-
     
9,541
     
5,357
     
14,898
 
                                                                                 
Transactions with owners of the
                                                                               
  Company, recognized directly
  in equity:
                                                                               
Sale of shares in subsidiaries to
                                                                               
  non-controlling interests
   
-
     
-
     
-
     
-
     
-
     
-
     
(175
)
   
(175
)
   
475
     
300
 
Buy of shares in subsidiaries from
                                                                               
  non-controlling interests
   
-
     
-
     
-
     
-
     
-
     
-
     
667
     
667
     
254
     
921
 
Issuance of ordinary shares
   
2,010
     
5,797
     
-
     
-
     
-
     
-
     
-
     
7,807
     
-
     
7,807
 
Options exercise
   
-
     
-
     
-
     
-
     
-
     
-
     
-
     
-
     
-
     
-
 
Share-based payments
   
-
     
-
     
-
     
-
     
-
     
-
     
-
     
-
     
-
     
-
 
                                                                                 
Balance as at September 30, 2019
   
21,998
     
64,155
     
(865
)
   
(1,736
)
   
5,097
     
4,472
     
6,106
     
99,227
     
7,303
     
106,530
 



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
earnings
(accumulated
deficit)
         
Translation
reserve from
foreign
operations
                         
                               
Hedging
Reserve
                   
   
Share
capital
   
Share
Premium
       
Treasury
shares
             
Total
             
                                         
   
€ in thousands
 
                                                       
For the nine months ended
  September 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
   
-
     
-
     
384
     
-
     
-
     
-
     
384
     
(502
)
   
(118
)
Other comprehensive loss
  for the period
   
-
     
-
     
-
     
-
     
(540
)
   
(237
)
   
(777
)
   
11
     
(766
)
Total comprehensive loss
  for the period
   
-
     
-
     
384
     
-
     
(540
)
   
(237
)
   
(393
)
   
(491
)
   
(884
)
                                                                         
Transactions with owners of
  the Company, recognized
  directly in equity:
                                                                       
Share-based payments
   
-
     
3
     
-
     
-
     
-
     
-
     
3
     
-
     
3
 
                                                                         
Balance as at September 30, 2018
   
19,980
     
58,342
     
85
     
(1,736
)
   
1,679
     
(99
)
   
78,251
     
(1,632
)
   
76,619
 




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 three months ended
  September 30, 2018:
                                                     
Balance as at June 30, 2018
   
19,980
     
58,341
     
(1,197
)
   
(1,736
)
   
1,397
     
(108
)
   
76,677
     
(1,354
)
   
75,323
 
Loss for the period
   
-
     
-
     
1,282
     
-
     
-
     
-
     
1,282
     
(266
)
   
1,016
 
Other comprehensive loss
  for the period
   
-
     
-
     
-
     
-
     
282
     
9
     
291
     
(12
)
   
279
 
Total comprehensive loss
  for the period
   
-
     
-
     
1,282
     
-
     
282
     
9
     
1,573
     
(278
)
   
1,295
 
                                                                         
Transactions with owners of
  the Company, recognized directly
  in equity:
                                                                       
Share-based payments
   
-
     
1
     
-
     
-
     
-
     
-
     
1
     
-
     
1
 
                                                                         
Balance as at September 30, 2018
   
19,980
     
58,342
     
85
     
(1,736
)
   
1,679
     
(99
)
   
78,251
     
(1,632
)
   
76,619
 



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 Cash Flow (in thousands)


   
For the year ended December 31,
   
For the three months ended
September 30,
   
For the nine months ended
September 30,
   
For the nine months ended September 30, 2019
 
   
2018
   
2018
   
2019
   
2018
   
2019
   
2019
 
   
Audited
   
Unaudited
   
Unaudited
   
Unaudited