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Consolidated Statements of Cash Flows
€ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2021
EUR (€)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
EUR (€)
Dec. 31, 2019
EUR (€)
Cash flows from operating activities        
Profit (loss) for the year € (20,264) $ (22,937) € (6,168) € 9,784
Adjustments for:        
Financing expenses, net 26,884 30,428 3,634 8,153
Capital gain 0 0 0 (18,770)
Profit from settlement of derivatives contract (407) (461) 0 0
Depreciation and amortization 15,076 17,063 2,975 6,416
Share-based payment transactions 63 71 50 8
Share of profits of equity accounted investees (117) (132) (1,525) (3,086)
Payment of interest on loan from an equity accounted investee 859 972 582 370
Change in trade receivables and other receivables (1,883) (2,131) (3,868) 403
Change in other assets (545) (617) 179 (1,950)
Change in receivables from concessions project 1,580 1,788 1,426 1,329
Change in accrued severance pay, net 0 0 0 9
Change in trade payables 154 174 190 461
Change in other payables 2,380 2,694 (1,226) 5,336
Tax benefit (2,489) (2,817) (125) (287)
Income taxes paid (94) (106) (119) (100)
Interest received 1,844 2,087 2,075 1,719
Interest paid (7,801) (8,829) (3,906) (6,083)
Total adjustment to reconcile profit and loss 35,504 40,184 342 (6,072)
Net cash provided by (used in) operating activities 15,240 17,247 (5,826) 3,712
Cash flows from investing activities:        
Acquisition of fixed assets (82,810) (93,724) (128,420) (74,587)
Acquisition of subsidiary, net of cash acquired (see Note 6C and Note 6D) 0 0 (7,464) (1,000)
Repayment of loan from an equity accounted investee 1,400 1,585 1,978 0
Loan to an equity accounted investee (335) (379) (181) 0
Proceeds from sale of investments 0 0 0 34,586
Advances on account of investments 0 0 (1,554) 0
Proceeds from marketable securities 0 0 1,800 0
Acquisition of marketable securities 0 0 (1,481) 0
Proceeds from settlement of derivatives, net (976) (1,105) 0 532
Proceed (investment) in restricted cash, net (5,990) (6,779) 23,092 (26,003)
Investment in short term deposit (18,599) (21,050) (1,323) (6,302)
Investment in marketable Securities (112) (127) 0 (0)
Repayment of loan to others 0 0 0 3,912
Compensation as per agreement with Erez Electricity Ltd. 0 0 1,418 0
Net cash used in investing activities (107,422) (121,579) (112,135) (68,862)
Cash flows from financing activities:        
Issuance of warrants 3,746 4,240 2,544 0
Repayment of long-term loans (18,905) (21,397) (3,959) (5,844)
Repayment of Debentures (30,730) (34,780) (26,923) (9,836)
Cost associated with long term loans (2,796) (3,165) (734) (12,218)
Proceeds from options 49 55 20 19
Sale of shares in subsidiaries to non-controlling interests 1,400 1,585 0 13,936
Acquisition of shares in subsidiaries from non-controlling interests 0 0 0 (2,961)
Issuance of ordinary shares 0 0 21,275 7,807
Payment of principal of lease liabilities (4,803) (5,436) 0 0
Proceeds from long term loans, net 32,947 37,289 111,357 59,298
Proceeds from issue of convertible debentures 15,571 17,623    
Proceeds from issuance of Debentures, net 57,717 65,324 38,057 22,317
Net cash provided by financing activities 54,196 61,338 141,637 72,518
Effect of exchange rate fluctuations on cash and cash equivalents 12,370 14,002 (1,340) 259
Increase (decrease) in cash and cash equivalents (25,616) (28,992) 22,336 7,627
Cash and cash equivalents at the beginning of year 66,845 75,655 44,509 36,882
Cash and cash equivalents at the end of the year € 41,229 $ 46,663 € 66,845 € 44,509