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Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2023
Disclosure of detailed information about financial instruments [abstract] |
Schedule of Composition of Derivatives |
|  | June 30, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
|  | € in thousands |
Derivatives presented under current assets |  |  |  |  |  |
Swap contracts |  |  | 366 |  |  |  | 273 |
Derivatives presented under non-current assets |  |  |  |  |  |  |  |
Swap contracts |  |  | 1,221 |  |  |  | 1,488 |
Derivatives presented under current liabilities |  |  |  |  |  |  |  |
Financial power swap |  |  | (8,309 | ) |  |  | (33,183 | )
Derivatives presented under non-current liabilities |  |  |  |  |  |  |  |
Financial power swap |  |  | (563 | ) |  |  | (28,354 | )
Schedule of Statement of Fair value of Other Financial Assets and Liabilities |
|  | June 30, 2023
|  |  |  |  | Fair value |  |  |  |
|  | Carrying |  |  |  |  |  |  |  |  |  |  | Valuation techniques for |  | Inputs used to
|  | amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  | determining fair value |  | determine fair value
|  | € in thousands |  |  |  |
Non-current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debentures |  |  | 139,578 |  |  |  | 134,454 |  |  |  | - |  |  |  | - |  |  |  |
Loans from banks and others (including current maturities) |  |  | 287,299 |  |  |  | - |  |  |  | 250,362 |  |  |  | - |  | Discounting future cash flows by the market interest rate on the date of measurement. |  | Discount rate of Euribor+ 2% with a zero floor, Euribor+ 5.27%, fixed rate for 5 years, 2.65%-4.5% Linkage to Euribor, fixed rate 2.58%-3.03%, fixed rate 2.75%-7% Linkage to Consumer price index in Israel and floating interest rate based on the Bank of Israel Rate plus a spread of 4.35%.
|  |  | 426,877 |  |  |  | 134,454 |  |  |  | 250,362 |  |  |  | - |  |  |  |
|  | December 31, 2022
|  |  |  |  | Fair value |  |  |  |
|  | Carrying |  |  |  |  |  |  |  |  |  |  | Valuation techniques for |  | Inputs used to
|  | amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  | determining fair value |  | determine fair value
|  | € in thousands |  |  |  |
Non-current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debentures |  |  | 110,428 |  |  |  | 102,957 |  |  |  | - |  |  |  | - |  |  |  |
Loans from banks and others (including current maturities) |  |  | 273,863 |  |  |  | - |  |  |  | 217,073 |  |  |  | - |  | Discounting future cash flows by the market interest rate on the date of measurement. |  | Discount rate of Euribor+ 2% with a zero floor, Euribor+ 5.27%, fixed rate for 5 years 2.65%-4.5% Linkage to Euribor, fixed rate 2.58%-3.03%, fix rate 2.75%-7% Linkage to Consumer price index in Israel and floating interest rate based on the Bank of Israel Rate plus a spread of 4.35%.
|  |  | 384,291 |  |  |  | 102,957 |  |  |  | 217,073 |  |  |  | - |  |  |  |
Schedule of Fair Values Hierarchy |
|  | June 30, 2023
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |  | Valuation techniques for
|  | € in thousands |  | determining fair value
Swap contracts |  |  | - |  |  |  | 1,587 |  |  |  | - |  |  |  | 1,587 |  | Fair value is measured by discounting the future cash flows over the period of the contract and using market interest rates appropriate for similar instruments, including the adjustment required for the parties’ credit risks.
Financial power swap |  |  | - |  |  |  | - |  |  |  | (8,872 | ) |  |  | (8,872 | ) | Fair value is measured by discounting the future fixed and assessed cash flows, over the period of the contract and using market interest rates appropriate for similar instruments. The value is adjusted for the parties’ credit risks.
|  | December 31, 2022
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |  | Valuation techniques for
|  | € in thousands |  | determining fair value
Marketable securities |  |  | 2,836 |  |  |  | - |  |  |  | - |  |  |  | 2,836 |  | Market price
Swap contracts |  |  | - |  |  |  | 1,761 |  |  |  | - |  |  |  | 1,761 |  | Fair value is measured by discounting the future cash flows over the period of the contract and using market interest rates appropriate for similar instruments, including the adjustment required for the parties’ credit risks.
Financial power swap |  |  | - |  |  |  | - |  |  |  | (61,537 | ) |  |  | (61,537 | ) | Fair value is measured by discounting the future fixed and assessed cash flows over the period of the contract and using market interest rates appropriate for similar instruments. The value is adjusted for the parties’ credit risks.
Schedule of Reconciliation Financial Instruments Carried at Fair Value |
|  | Financial assets |
|  | Financial power swap |
|  | € in thousands |
Balance as at December 31, 2022 |  |  | (61,537 | )
Total gains (losses) recognized: |  |  |  |
In profit or loss |  |  |  |
Unrealized under financing income and expenses |  |  | 271 |
Realized under financing income and expenses |  |  | 6,141 |
In other comprehensive income |  |  | 46,253 |
Balance as at June 30, 2023 |  |  | (8,872 | )

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