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1. Company Snapshot

1.a. Company Description

Ellomay Capital Ltd., together with its subsidiaries, engages in the production of renewable and clean energy in Israel, Spain, and the Netherlands.The company owns six photovoltaic (PV) plants comprising four PV plants in Spain with an aggregate installed capacity of approximately 7.9 megawatts (MW); one PV plant with a peak capacity of 300 MW in the municipality of Talaván, Spain; and one PV plant in Israel with an installed capacity of approximately 9 MW.It also operates a dual-fuel operated power plant with an installed capacity of approximately 860 MWp in the vicinity of Ashkelon, Israel; and constructs a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel.


In addition, the company develops anaerobic digestion plants with a green gas production capacity of approximately 375 Nm3/h in Goor and 475 Nm3/h in Oude-Tonge in the Netherlands.Further, it is involved in the construction of a PV plant with installed capacity of 28MW in the municipality of Talaván, Spain.The company was formerly known as NUR Macroprinters Ltd.


and changed its name to Ellomay Capital Ltd.in April 2008.Ellomay Capital Ltd.


was incorporated in 1987 and is headquartered in Tel Aviv-Yafo, Israel.

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1.b. Last Insights on ELLO

Ellomay Capital Ltd.'s recent performance was driven by the execution of project finance agreements for its 198 MW solar portfolio in Italy, a positive development in the company's renewable energy business. This agreement, announced on March 2, 2025, with a reputable European institutional investor, will finance the construction and related expenses of the Italian Solar Portfolio, consisting of operating and "ready to build" projects. This deal demonstrates the company's ability to secure financing for its projects, a key factor in its growth and success in the renewable energy sector.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Ellomay Capital Provides Updates on its Italian Solar Operations

Dec -03

Source: globenewswire.com

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Ellomay Capital Reports Publication of Financial Statements of Dorad Energy Ltd. as of and for the Three and Nine Months Ended September 30, 2025

Nov -30

Source: globenewswire.com

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Ellomay Capital Announces Results of 2025 Annual General Meeting of Shareholders

Oct -23

Source: globenewswire.com

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Ellomay Capital Reports Results for the Three and Six Months Ended June 30, 2025

Sep -30

Source: globenewswire.com

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Ellomay Capital Announces 2025 Annual General Meeting of Shareholders

Sep -12

Source: globenewswire.com

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Ellomay Capital Reports Publication of Financial Statements of Dorad Energy Ltd. as of and for the Three and Six Months Ended June 30, 2025

Aug -31

Source: globenewswire.com

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Ellomay Capital Announces the Acquisition of 15% of Dorad Energy's Shares by Ellomay Luzon Energy, Increasing Ellomay Luzon Energy's Holdings in Dorad to 33.75%

Jul -22

Source: globenewswire.com

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Ellomay Capital Ltd. Announces a Proposed Private Placement of Ordinary Shares to Israeli Institutional and Classified Investors for Approximately NIS 50 Million

Jul -14

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.55%)

6. Segments

Reconciliations

Expected Growth: 4.5%

Ellomay Capital Ltd.'s reconciliation process is driven by increasing demand for financial accuracy and regulatory compliance. Growing adoption of automation and digitalization in the financial sector fuels the need for efficient reconciliation processes, driving market growth.

Dorad

Expected Growth: 4.5%

Increasing demand for electricity in Israel, driven by population growth and industrialization, coupled with the country's shift towards natural gas-based power generation, will drive growth for Dorad's 360MW natural gas-powered generating facility.

Photovoltaic Power Plants

Expected Growth: 7.3%

Increasing adoption of renewable energy sources, government incentives, and declining solar panel costs drive growth in the photovoltaic power plant market, supporting Ellomay Capital Ltd.'s clean energy initiatives.

Bio Gas

Expected Growth: 10.2%

Growing demand for renewable energy, increasing government incentives, and rising concerns over climate change drive the growth of bio gas market. Ellomay Capital Ltd.'s innovative approach to producing bio gas from organic waste offers a sustainable alternative to fossil fuels, further boosting market growth.

7. Detailed Products

Renewable Energy Projects

Ellomay Capital Ltd. develops, constructs, and operates renewable energy projects, including solar, wind, and biogas facilities, providing clean energy solutions to reduce carbon footprint.

Energy Storage Solutions

Ellomay Capital Ltd. offers energy storage solutions, including battery storage systems, to optimize energy efficiency and reduce energy costs.

Waste-to-Energy Facilities

Ellomay Capital Ltd. develops and operates waste-to-energy facilities, converting waste into electricity and heat, reducing landfill waste and greenhouse gas emissions.

Real Estate Development

Ellomay Capital Ltd. develops and invests in commercial and residential real estate projects, providing innovative and sustainable living spaces.

Agricultural Projects

Ellomay Capital Ltd. develops and invests in agricultural projects, including irrigation systems and agricultural technology, to improve crop yields and reduce water consumption.

8. Ellomay Capital Ltd.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Ellomay Capital Ltd. is medium due to the availability of alternative investment options in the renewable energy sector.

Bargaining Power Of Customers

The bargaining power of customers for Ellomay Capital Ltd. is low due to the company's diversified customer base and lack of dependence on a single customer.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Ellomay Capital Ltd. is medium due to the company's reliance on a few key suppliers for its renewable energy projects.

Threat Of New Entrants

The threat of new entrants for Ellomay Capital Ltd. is high due to the growing demand for renewable energy and the relatively low barriers to entry in the industry.

Intensity Of Rivalry

The intensity of rivalry for Ellomay Capital Ltd. is high due to the competitive nature of the renewable energy industry and the presence of several established players.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 78.61%
Debt Cost 4.77%
Equity Weight 21.39%
Equity Cost 10.47%
WACC 5.99%
Leverage 367.60%

11. Quality Control: Ellomay Capital Ltd. passed 1 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Enlight Renewable Energy

A-Score: 3.7/10

Value: 2.0

Growth: 3.9

Quality: 4.3

Yield: 0.0

Momentum: 10.0

Volatility: 1.7

1-Year Total Return ->

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Stock-Card
Ellomay Capital

A-Score: 3.3/10

Value: 3.7

Growth: 4.3

Quality: 1.6

Yield: 0.0

Momentum: 9.0

Volatility: 1.0

1-Year Total Return ->

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Stock-Card
Voltalia

A-Score: 3.2/10

Value: 7.3

Growth: 5.0

Quality: 2.0

Yield: 0.0

Momentum: 3.0

Volatility: 1.7

1-Year Total Return ->

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Stock-Card
OX2

A-Score: 2.9/10

Value: 4.6

Growth: 4.2

Quality: 2.8

Yield: 0.0

Momentum: 5.0

Volatility: 0.7

1-Year Total Return ->

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Stock-Card
Fusion Fuel Green

A-Score: 2.5/10

Value: 6.6

Growth: 4.1

Quality: 4.0

Yield: 0.0

Momentum: 0.5

Volatility: 0.0

1-Year Total Return ->

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Stock-Card
Green Hydrogen Systems

A-Score: 2.5/10

Value: 8.8

Growth: 3.2

Quality: 2.6

Yield: 0.0

Momentum: 0.5

Volatility: 0.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

21.58$

Current Price

21.58$

Potential

-0.00%

Expected Cash-Flows