XML 47 R27.htm IDEA: XBRL DOCUMENT
v3.21.1

Operating Segments | 12 Months Ended
--- | ---
Dec. 31, 2020
Disclosure of operating segments [abstract] |
Operating Segments | Note 22 - Operating Segments 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 as follows: (i) approximately 22.6MWp aggregate installed capacity of photovoltaic power plants in Italy, that the Company sold on December 20, 2019, (ii) approximately 7.9MWp aggregate installed capacity of photovoltaic power plants in Spain, (iii) a photovoltaic power plant of approximately 9 MWp installed capacity in Israel, (iv) Ellomay Solar S.L.U that is constructing a photovoltaic plant with a peak capacity of 28 MW in the municipality of Talaván, Cáceres, Spain and and (v) 51% of Talasol, which during the majority of the reporting period was constructing a photovoltaic plant with a peak capacity of 300 MW in the municipality of Talaván, Cáceres, Spain.
| ● | 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 860 MW, located south of Ashkelon, Israel.
| ● | Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million (with a license to produce 7.5 million) Nm3 per year, 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 New 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 and fixed assets, as included in reports provided regularly to the chief operating decision maker.
|  | PV |  |  |  |  |  |  |  |  |  |  |  | Total |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | reportable |  |  |  |  |  | Total |
|  | Italy |  |  | Spain |  |  | Israel |  |  | Talasol |  |  | Biogas |  |  | Dorad |  |  | Manara |  |  | segments |  |  | Reconciliations |  |  | consolidated |
|  | For the year ended December 31, 2020 |
|  | € in thousands |
Revenues |  |  | - |  |  |  | 2,577 |  |  |  | 4,089 |  |  |  | - |  |  |  | 6,002 |  |  |  | 57,495 |  |  |  | - |  |  |  | 70,163 |  |  |  | (60,518 | ) |  |  | 9,645 |
Operating expenses |  |  | - |  |  |  | (463 | ) |  |  | (379 | ) |  |  | - |  |  |  | (4,109 | ) |  |  | (44,489 | ) |  |  | - |  |  |  | (49,440 | ) |  |  | 44,489 |  |  |  | (4,951 | )
Depreciation and amortization expenses |  |  | - |  |  |  | (905 | ) |  |  | (2,310 | ) |  |  | - |  |  |  | (1,457 | ) |  |  | (5,674 | ) |  |  | - |  |  |  | (10,346 | ) |  |  | 7,371 |  |  |  | (2,975 | )
Gross profit (loss) |  |  | - |  |  |  | 1,209 |  |  |  | 1,400 |  |  |  | - |  |  |  | 436 |  |  |  | 7,332 |  |  |  | - |  |  |  | 10,377 |  |  |  | (8,658 | ) |  |  | 1,719 |
Project development costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,491 | )
General and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,512 | )
Share of profits (loss) of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
equity accounted investee |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,525 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,100 |
Capital gain (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Operating profit (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,659 | )
Financing income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,134 |
Financing income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(expenses) in connection |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
with derivatives, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,094 |
Financing expenses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,862 | )
Profit (loss) before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
on Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,293 | )
Segment assets as at |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2020 |  |  | 503 |  |  |  | 17,574 |  |  |  | 36,521 |  |  |  | 232,955 |  |  |  | 36,253 |  |  |  | 109,983 |  |  |  | 21,925 |  |  |  | 455,714 |  |  |  | 4,458 |  |  |  | 460,172 |
|  | PV |  |  |  |  |  |  |  |  |  |  |  | Total |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | reportable |  |  |  |  |  | Total |
|  | Italy |  |  | Spain |  |  | Israel |  |  | Talasol |  |  | Biogas |  |  | Dorad |  |  | Manara |  |  | segments |  |  | Reconciliations |  |  | consolidated |
|  | For the year ended December 31, 2019 |
|  | € in thousands |
Revenues |  |  | 10,082 |  |  |  | 2,987 |  |  |  | 4,114 |  |  |  | - |  |  |  | 4,786 |  |  |  | 63,416 |  |  |  | - |  |  |  | 85,385 |  |  |  | (66,397 | ) |  |  | 18,988 |
Operating expenses |  |  | (1,422 | ) |  |  | (504 | ) |  |  | (325 | ) |  |  | - |  |  |  | (4,387 | ) |  |  | (48,558 | ) |  |  | - |  |  |  | (55,196 | ) |  |  | 48,558 |  |  |  | (6,638 | )
Depreciation and amortization expenses |  |  | (3,668 | ) |  |  | (903 | ) |  |  | (2,271 | ) |  |  | (30 | ) |  |  | (1,353 | ) |  |  | (5,031 | ) |  |  | - |  |  |  | (13,256 | ) |  |  | 6,840 |  |  |  | (6,416 | )
Gross profit (loss) |  |  | 4,992 |  |  |  | 1,580 |  |  |  | 1,518 |  |  |  | (30 | ) |  |  | (954 | ) |  |  | 9,827 |  |  |  | - |  |  |  | 16,933 |  |  |  | (10,999 | ) |  |  | 5,934 |
Project development costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,213 | )
General and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,827 | )
Share of profits (loss) of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
equity accounted investee |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,086 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,100 | )
Capital gain (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18,770 |
Operating profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 17,650 |
Financing income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,827 |
Financing income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(expenses) in connection |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
with derivatives, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 897 |
Financing expenses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (10,877 | )
Profit before taxes on |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,497 |
Segment assets as at |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2019 |  |  | - |  |  |  | 16,324 |  |  |  | 38,942 |  |  |  | 118,848 |  |  |  | 18,463 |  |  |  | 116,561 |  |  |  | 2,473 |  |  |  | 311,611 |  |  |  | (1,439 | ) |  |  | 310,172 |
|  | PV |  |  |  |  |  |  |  |  |  |  |  | Total |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | reportable |  |  |  |  |  | Total |
|  | Italy |  |  | Spain |  |  | Israel |  |  | Talasol |  |  | Biogas |  |  | Dorad |  |  | Manara |  |  | segments |  |  | Reconciliations |  |  | consolidated |
|  | For the year ended December 31, 2018 |
|  | € in thousands |
Revenues |  |  | 9,560 |  |  |  | 3,033 |  |  |  | 4,011 |  |  |  | - |  |  |  | 4,483 |  |  |  | 58,063 |  |  |  | - |  |  |  | 79,150 |  |  |  | (61,033 | ) |  |  | 18,117 |
Operating expenses |  |  | (1,579 | ) |  |  | (574 | ) |  |  | (507 | ) |  |  | - |  |  |  | (3,682 | ) |  |  | (44,600 | ) |  |  | - |  |  |  | (50,942 | ) |  |  | 44,600 |  |  |  | (6,342 | )
Depreciation and amortization expenses |  |  | (3,569 | ) |  |  | (828 | ) |  |  | (2,042 | ) |  |  | - |  |  |  | (1,081 | ) |  |  | (4,811 | ) |  |  | - |  |  |  | (12,331 | ) |  |  | 6,515 |  |  |  | (5,816 | )
Gross profit (loss) |  |  | 4,412 |  |  |  | 1,631 |  |  |  | 1,462 |  |  |  | - |  |  |  | (280 | ) |  |  | 8,652 |  |  |  | - |  |  |  | 15,877 |  |  |  | (9,918 | ) |  |  | 5,959 |
Project development costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,878 | )
General and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,600 | )
Share of profits (loss) of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
equity accounted investee |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,545 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 884 |
Operating profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,910 |
Financing income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,936 |
Financing income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(expenses) in connection |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
with derivatives, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 494 |
Financing expenses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,521 | )
Profit before taxes on |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 819 |
Segment assets as at |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2018 |  |  | 54,539 |  |  |  | 16,799 |  |  |  | 34,258 |  |  |  | 15,169 |  |  |  | 18,879 |  |  |  | 105,246 |  |  |  | 2,318 |  |  |  | 247,208 |  |  |  | (36,048 | ) |  |  | 211,160 |
Geographical information The Company is domiciled in Israel and it operates in Israel, Italy (until the sale of the Italian Subsidiaries) and in Spain through its subsidiaries that own PV Plants, in the Netherlands through its subsidiaries that own anaerobic digestion plants and also in Israel through Dori Energy. On December 20, 2019, the Company sold ten Italian Subsidiaries, which own twelve photovoltaic plants with an aggregate nominal capacity of approximately 22.6 MW. The following table lists the revenues from the Company's operations in Israel, the Netherlands, Italy and Spain:
|  | For the year ended December 31 |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | € in thousands |
Israel |  |  | 1,066 |  |  |  | 1,133 |  |  |  | 1,041 |
The Netherlands |  |  | 6,002 |  |  |  | 4,786 |  |  |  | 4,483 |
Italy |  |  | - |  |  |  | 10,082 |  |  |  | 9,560 |
Spain |  |  | 2,577 |  |  |  | 2,987 |  |  |  | 3,033 |
Total revenues |  |  | 9,645 |  |  |  | 18,988 |  |  |  | 18,117 |
The following table lists the fixed assets, net from the Company's operation:
|  | As at December 31 |
|  | 2020 |  |  | 2019 |
|  | € in thousands |
Israel |  |  | 16,651 |  |  |  | 19 |
Italy |  |  | - |  |  |  | - |
Spain |  |  | 217,339 |  |  |  | 97,327 |
The Netherlands |  |  | 30,105 |  |  |  | 17,043 |
Total fixed assets, net |  |  | 264,095 |  |  |  | 114,389 |

X
- Definition The entire disclosure for operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2020-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&doctype=Standard&dita_xref=IFRS08_g20-24_TI -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfOperatingSegmentsAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration