Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Investee Companies and other investments (Tables)

v3.19.1
Investee Companies and other investments (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure of associates [abstract]  
Schedule of Composition of Investments
   
December 31
 
   
2018
   
2017
 
   
€ in thousands
 
             
Investment in shares
   
19,641
     
18,515
 
Long-term loans
   
8,774
     
9,860
 
Deferred interest
   
(669
)
   
(720
)
     
27,746
     
27,655
 
Current Maturities of the long-term loans
   
415
     
3,165
 
     
28,161
     
30,820
 
Schedule of Changes in Investments
   
2018
   
2017
 
Changes in equity and loans:
 
€ in thousands
 
Balance as at January 1
   
30,820
     
30,509
 
Repayment of long term loans
   
(4,576
)
   
(407
)
Interest on long term loans
   
1,079
     
1,104
 
Deferred interest
   
52
     
54
 
Elimination of interest on loan from related party
   
(1,130
)
   
(1,158
)
The Company’s share of income
   
2,545
     
1,531
 
Foreign currency translation adjustments
   
(629
)
   
(813
)
Balance as at December 31
   
28,161
     
30,820
 
Summary of Information on Financial Position
Summary information on financial position
 
                                   
Equity
                         
   
Rate of
   
Current
   
Non-current
   
Total
   
Current
   
 
 
Non-
current
   
 
 
 
Total
   
attributable to
the owners of the
   
Company’s
   
 
Surplus
Costs and
   
Other
   
 
Carrying
Amount of
 
   
ownership
   
Assets
   
assets
   
assets
   
liabilities
   
liabilities
   
liabilities
   
Company
   
share
   
goodwill
   
Adjustments
   
investment
 
   
%
   
€ in thousands
 
2018
                                                                       
Dori Energy
   
50
     
1,154
     
49,629
     
50,783
     
(204
)
   
(18,005
)
   
(18,209
)
   
32,574
     
16,287
     
3,376
     
(22
)
   
19,641
 
                                                                                                 
2017
                                                                                               
Dori Energy
   
50
     
8,013
     
47,959
     
55,972
     
(51
)
   
(26,006
)
   
(26,057
)
   
29,915
     
14,958
     
3,925
     
(367
)
   
18,515
 
Summary of Information on Operating Results
Summary information on operating results

   
Rate of ownership
as of December
   
Income
for the year
   
Company’s
share
   
Elimination of interest on loan from related party
   
Other
Adjustments
   
Company’s share
of income of investee
 
   
%
   
€ in thousands
 
2018
                                   
                                     
Dori Energy
   
50
     
3,668
     
1,834
     
1,130
     
(419
)
   
2,545
 
2017
                                               
                                                 
Dori Energy
   
50
     
1,751
     
876
     
1,158
     
(503
)
   
1,531
 
Schedule of Composition of Advances on Account of Investments
Composition of Advances on account of investments
 
   
December 31
 
   
2018
   
2017
 
   
€ in thousands
 
On account of the Manara PSP
   
798
     
825
 
On account of the Talasol Project
    -      
8,000
 
     
798
     
8,825
 
Schedule of Composition Short-term and Long-term of Financial Assets
Composition of short-term and long-term financial assets
 
   
December 31
 
   
2018
   
2017
 
   
€ in thousands
 
Income receivable in connection with the A.R.Z. Electricity PSP
   
1,282
     
1,249
 
     
1,282
     
1,249
 
Schedule of Identifiable Assets Acquired and Liabilities Assumed
Identifiable assets acquired and liabilities assumed (based on amounts as described hereunder):
 
   
Acquisition date
 
   
€ in thousands
 
       
Asset from concessions project
   
28,927
 
Intangible asset
   
5,505
 
Restricted cash
   
1,795
 
Long-term loan
   
(21,370
)
Working Capital, net (excluding cash and cash equivalents)
   
(119
)
Deferred tax
   
(4,887
)
Total net identifiable assets
   
9,851
 
Schedule of Aggregate Cash Flows Derived
The aggregate cash flows derived for the Company as a result of the acquisition:
 
   
€ in thousands
 
Cash and cash equivalents paid
   
11,815
 
Less - cash and cash equivalents of the subsidiary
   
(1,964
)
     
9,851
 
 
(*)The fair value of the income receivable in connection with concession project was calculated according to the cash flows expected to be received from the Israeli Electricity Authority for a period of 16 years, discounted at a weighted interest rate of 5.9% reflecting the credit risk of the debtor.