Israeli renewables developer and energy producer Ellomay Capital Ltd (TASE:ELLO) returned to a small revenue of EUR 100,000 (USD 108,700) in 2022 after shedding EUR 19.6 million a yr again, helped by a 16.8% year-on-year rise in revenues.
The corporate’s prime line was positively affected by larger electrical energy costs in Spain and the commissioning of a 28-MW photo voltaic park there. Revenues prior to now yr totalled EUR 53.4 million, up from EUR 45.7 million a yr again, with Ellomay’s stake within the 300-MW Talasol photovoltaic (PV) complicated in Spain bringing in some EUR 33 million, the corporate’s annual report confirmed on Friday.
In the meantime, financing bills had been considerably decrease, falling to a web of round EUR 2.5 million from EUR 26.9 million because of revenue coming from beneficial alternate charge results. At EUR 24.1 million, working bills climbed from EUR 17.6 million a yr earlier than and mission improvement prices rose to EUR 3.8 million from EUR 2.5 million.
Ellomay’s earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) got here at EUR 20.8 million, up from EUR 20.1 million in 2021.
At current, the agency is engaged on the development of a 156-MW pumped storage mission in Manara Cliff, Israel, and plans to deliver it on-line within the second half of 2026. It is usually creating 600 MW of photo voltaic tasks in Italy and a number of other photo voltaic and storage schemes in its dwelling nation.
(EUR 1.0 = USD 1.087)