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Operating Segments | 6 Months Ended
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Jun. 30, 2018
Disclosure of operating segments [abstract] |
Operating Segments | Note 8 - Operating Segments The Company presented the results of its reportable segments starting the current reporting period, in view of the Company's recent entry into additional operations such as the Bio Gas in the Netherlands resulting in separate segment reporting reviewed and analyzed by the CODM. Comparison figures were presented accordingly. The Company’s reportable segments, which form the Company’s strategic business units, are described below:
| — | Photovoltaic power plants (PV Plants) – Operation of installations that convert the energy in sunlight into electrical energy. Approximately 22.6MWp aggregate installed capacity of photovoltaic power plants in Italy, approximately 7.9MWp aggregate installed capacity of photovoltaic power plants in Spain and a photovoltaic power plant of approximately 9 MWp installed capacity in Israel.
| — | Dorad Energy Ltd. (Dorad) – 9.375% indirect interest in Dorad, which owns and operates a combined cycle power plant based on natural gas, with production capacity of approximately 850 MW, located south of Ashkelon, Israel.
| — | Anaerobic digestion plants (Bio Gas) – 51% of Groen Gas Goor B.V. and of Groen Gas Oude-Tonge B.V., project companies developing and operating 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.
| — | Pumped storage hydro power plant (Manara) – 75% of a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel.
Factors that management used to identify the Company’s reportable segments The Company’s strategic business units offer different products and the allocation of resources and evaluation of performance is managed separately because they require different technology. For each of the strategic business units, the Company’s chief operating decision maker (CODM) reviews internal management reports on at least a quarterly basis. The following summary describes the operations in each of the Company’s operating segments. The Company presented the photovoltaic power plants per geographical areas, as the information collected and analyzed by the CODM in connection with the PV Plants is presented based on the physical location of the PV Plant. The CODM reviews the Israeli Shekel denominated information on Dorad and the PV Plant located in Israel and the information presented in the tables below is translated into euro. The CODM reviews the company’s share in the results of Dorad. In the reports analyzed by the CODM, the PV Plant located in Israel is presented under the fixed asset model and not under the financial asset model as per IFRIC 12. Performance is measured based on segment gross profit as included in reports that are regularly reviewed by the chief operating decision maker. Segment gross profit is used to measure performance as management believes that such information is the most relevant in evaluating the results of certain segments relative to other entities that operate within these industries. Segment assets consist of current assets, fixed assets and intangible assets, as included in reports provided regularly to the chief operating decision maker.
|  | PV |  |  |  |  |  |  |  |  |  |  |  | Total |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | reportable |  |  |  |  |  | Total |
|  | Italy |  |  | Spain |  |  | Israel |  |  | Dorad |  |  | Bio Gas |  |  | Manara |  |  | segments |  |  | Reconciliations |  |  | consolidated |
|  | For the six months ended June 30, 2018 |
|  | (Unaudited) |
|  | € in thousands |
Revenues |  |  | 4,830 |  |  |  | 1,472 |  |  |  | 2,001 |  |  |  | 27,718 |  |  |  | 1,391 |  |  |  | - |  |  |  | 37,412 |  |  |  | (29,261 | ) |  |  | 8,151 |
Operating expenses |  |  | (804 | ) |  |  | (290 | ) |  |  | (254 | ) |  |  | (21,742 | ) |  |  | (1,262 | ) |  |  | - |  |  |  | (24,352 | ) |  |  | 21,742 |  |  |  | (2,610 | )
Depreciation expenses |  |  | (1,779 | ) |  |  | (416 | ) |  |  | (1,031 | ) |  |  | (2,364 | ) |  |  | (391 | ) |  |  | - |  |  |  | (5,981 | ) |  |  | 3,214 |  |  |  | (2,767 | )
Gross profit |  |  | 2,247 |  |  |  | 766 |  |  |  | 716 |  |  |  | 3,612 |  |  |  | (262 | ) |  |  | - |  |  |  | 7,079 |  |  |  | (4,305 | ) |  |  | 2,774 |
Project development costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,771 | ) |  |  | (1,771 | )
General and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,977 | ) |  |  | (1,977 | )
Share of profits (loss) of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
equity accounted investee |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 501 |  |  |  | 501 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 73 |  |  |  | 73 |
Operating Loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (400 | ) |  |  | (400 | )
Financing income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,588 |  |  |  | 1,588 |
Financing income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(expenses) in connection |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
with derivatives, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 285 |  |  |  | 285 |
Financing expenses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,789 | ) |  |  | (2,789 | )
Loss before taxes on |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,316 | ) |  |  | (1,316 | )
Segment assets as at |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2018 |  |  | 56,375 |  |  |  | 15,956 |  |  |  | 35,651 |  |  |  | 106,293 |  |  |  | 19,546 |  |  |  | 2,244 |  |  |  | 236,065 |  |  |  | (19,317 | ) |  |  | 216,748 |
|  | PV |  |  |  |  |  |  |  |  |  |  |  | Total |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | reportable |  |  |  |  |  | Total |
|  | Italy |  |  | Spain |  |  | Israel |  |  | Dorad |  |  | Bio Gas |  |  | Manara |  |  | segments |  |  | Reconciliations |  |  | consolidated |
|  | For the six months ended June 30, 2017 |
|  | (Unaudited) |
|  | € in thousands |
Revenues |  |  | 5,254 |  |  |  | 1,514 |  |  |  | - |  |  |  | 28,710 |  |  |  | - |  |  |  | - |  |  |  | 35,478 |  |  |  | (28,710 | ) |  |  | 6,768 |
Operating expenses |  |  | (574 | ) |  |  | (289 | ) |  |  | - |  |  |  | (22,591 | ) |  |  | - |  |  |  | - |  |  |  | (23,454 | ) |  |  | 22,591 |  |  |  | (863 | )
Depreciation expenses |  |  | (1,779 | ) |  |  | (413 | ) |  |  | - |  |  |  | (2,314 | ) |  |  | - |  |  |  | - |  |  |  | (4,506 | ) |  |  | 2,308 |  |  |  | (2,198 | )
Gross profit |  |  | 2,901 |  |  |  | 812 |  |  |  | - |  |  |  | 3,805 |  |  |  | - |  |  |  | - |  |  |  | 7,518 |  |  |  | (3,811 | ) |  |  | 3,707 |
Project development costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,431 | ) |  |  | (1,431 | )
General and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,210 | ) |  |  | (1,210 | )
Share of pro loss of equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
accounted investee |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (73 | ) |  |  | (73 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9 |  |  |  | 9 |
Operating Profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,002 |  |  |  | 1,002 |
Financing income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 291 |  |  |  | 291 |
Financing income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(expenses) in connection |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
with derivatives, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,590 | ) |  |  | (1,590 | )
Financing expenses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,463 | ) |  |  | (4,463 | )
Loss before taxes on |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,760 | ) |  |  | (4,760 | )
Segment assets as at |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2017 |  |  | 62,419 |  |  |  | 17,642 |  |  |  | - |  |  |  | 117,372 |  |  |  | 16,916 |  |  |  | 2,446 |  |  |  | 216,795 |  |  |  | (35,892 | ) |  |  | 180,903 |
|  | PV |  |  |  |  |  |  |  |  |  |  |  | Total |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | reportable |  |  |  |  |  | Total |
|  | Italy |  |  | Spain |  |  | Israel |  |  | Dorad |  |  | Bio Gas |  |  | Manara |  |  | segments |  |  | Reconciliations |  |  | consolidated |
|  | For the year ended December 31, 2017 |
|  | € in thousands |
Revenues |  |  | 10,143 |  |  |  | 3,007 |  |  |  | 1,378 |  |  |  | 58,234 |  |  |  | 303 |  |  |  | - |  |  |  | 73,065 |  |  |  | (59,429 | ) |  |  | 13,636 |
Operating expenses |  |  | (1,661 | ) |  |  | (677 | ) |  |  | (117 | ) |  |  | (30,077 | ) |  |  | (94 | ) |  |  | - |  |  |  | (32,626 | ) |  |  | 30,077 |  |  |  | (2,549 | )
Depreciation expenses |  |  | (3,567 | ) |  |  | (828 | ) |  |  | (438 | ) |  |  | (4,817 | ) |  |  | (111 | ) |  |  | - |  |  |  | (9,761 | ) |  |  | 5,243 |  |  |  | (4,518 | )
Gross profit |  |  | 4,915 |  |  |  | 1,502 |  |  |  | 823 |  |  |  | 23,340 |  |  |  | 98 |  |  |  | - |  |  |  | 30,678 |  |  |  | (24,109 | ) |  |  | 6,569 |
Project development costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,739 | ) |  |  | (2,739 | )
General and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,420 | ) |  |  | (2,420 | )
Share of profits (loss) of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
equity accounted investee |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,531 |  |  |  | 1,531 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18 |  |  |  | 18 |
Operating Profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,959 |  |  |  | 2,959 |
Financing income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,333 |  |  |  | 1,333 |
Financing income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(expenses) in connection |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
with derivatives, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,156 | ) |  |  | (3,156 | )
Financing expenses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,405 | ) |  |  | (7,405 | )
Loss before taxes on |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,269 | ) |  |  | (6,269 | )
Segment assets as at |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2017 |  |  | 59,015 |  |  |  | 47,600 |  |  |  | 37,903 |  |  |  | 114,282 |  |  |  | 16,882 |  |  |  | 2,386 |  |  |  | 278,068 |  |  |  | (79,980 | ) |  |  | 198,088 |

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- Definition The entire disclosure for operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2018-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2018-03-01&anchor=sect_Disclosure&doctype=Standard -URIDate 2018-03-16 + Details
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