XML 34 R23.htm IDEA: XBRL DOCUMENT

Operating Segments (Tables)

6 Months Ended

Jun. 30, 2024

The change in presentation did not impact the segment results and the segment presentation for prior periods has been conformed to the current period segment presentation.

	Italy			Spain									USA		Netherlands			Israel
				Subsidized Solar			28 MW			Talasol											Manara Pumped					Total reportable							Total
	Solar			Plants			Solar			Solar			Solar		Biogas			Dorad			Storage		Solar*			segments			Reconciliations			consolidated
	For the six months ended June 30, 2024
	€ in thousands

Revenues		529			1,423			513			8,973			-		8,018			29,803			-		278			49,537			(30,081	)		19,456
Operating expenses		-			(273	)		(337	)		(2,252	)		-		(6,661	)		(22,088	)		-		(142	)		(31,753	)		22,230			(9,523	)
Depreciation expenses		(1	)		(460	)		(587	)		(5,741	)		-		(1,442	)		(2,716	)		-		(48	)		(10,995	)		2,764			(8,231	)
Gross profit (loss)		528			690			(411	)		980			-		(85	)		4,999			-		88			6,789			(5,087	)		1,702

Adjusted gross profit (loss)		528			690			(411	)		980			-		(85	)		4,999			-		317 ¹			7,018			(5,316	)		1,702
Project development costs																																	(2,281	)
General and administrative expenses																																	(3,034	)
Share of profits of equity accounted investee																																	1,809
Operating profit (loss)																																	(1,804	)
Financing income																																	2,424
Financing income in connection
with derivatives and warrants, net																																	2,852
Financing expenses																																	(7,886	)
Loss before taxes on Income																																	(4,414	)

Segment assets as at June 30, 2024		50,898			12,828			19,345			224,778			38,794		31,411			98,481			176,865		-			653,400			(18,618	)		634,782

The results of the Talmei Yosef solar plant are presented as a discontinued operation.

The gross profit of the Talmei Yosef solar plant located in Israel is adjusted to include income from the sale of electricity (approximately €1,264 thousand) and depreciation expenses (approximately €757 thousand) under the fixed asset model, which were not recognized as revenues and depreciation expenses, respectively, under the financial asset model as per IFRIC 12.

	Italy			Spain									USA		Netherlands			Israel
				Subsidized Solar			28 MW			Talasol											Manara Pumped					Total reportable						Total
	Solar			Plants			Solar			Solar			Solar		Biogas			Dorad			Storage		Solar*			segments			Reconciliations			consolidated
	For the six months ended June 30, 2023
	€ in thousands

Revenues		-			1,463			2,080			12,666			-		8,790			30,305			-		459			55,763			(30,764	)		24,999
Operating expenses		-			(264	)		(882	)		(3,125	)		-		(7,574	)		(22,588	)		-		(183	)		(34,616	)		22,771			(11,845	)
Depreciation expenses		(1	)		(458	)		(469	)		(5,684	)		-		(1,204	)		(2,871	)		-		(236	)		(10,923	)		3,097			(7,826	)
Gross profit (loss)		(1	)		741			729			3,857			-		12			4,846			-		40			10,224			(4,896	)		5,328

Adjusted gross profit (loss)		(1	)		741			729			3,857			-		12			4,846			-		678¹			10,862			(5,534	)		5,328
Project development costs																																	(2,192	)
General and administrative expenses																																	(2,816	)
Share of profits of equity accounted investee																																	1,541
Operating profit																																	1,861
Financing income																																	8,188
Financing income in connection
with derivatives and warrants, net																																	(476	)
Financing expenses																																	(6,699	)
Profit before taxes on Income																																	3,350

Segment assets as at June 30, 2023 **		36,183			13,805			20,675			230,428			1,091		31,910			99,033			157,457		31,635			622,217			(17,614	)		604,603

The gross profit of the Talmei Yosef solar plant located in Israel is adjusted to include income from the sale of electricity (approximately €2,032 thousand) and depreciation expenses (approximately €935 thousand) under the fixed asset model, which were not recognized as revenues and depreciation expenses, respectively, under the financial asset model as per IFRIC 12.

**	Reclassified

	Italy		Spain									USA		Netherlands			Israel
			Subsidized Solar			28 MW			Talasol											Manara Pumped					Total reportable						Total
	Solar		Plants			Solar			Solar			Solar		Biogas			Dorad			Storage		Solar*			segments			Reconciliations			consolidated
	For the year ended December 31, 2023
	€ in thousands

Revenues		-		2,791			4,051			24,971			-		17,021			63,973			-		675			113,482			(64,648	)		48,834
Operating expenses		-		(517	)		(1,825	)		(5,786	)		-		(14,733	)		(47,322	)		-		(342	)		(70,525	)		47,664			(22,861	)
Depreciation expenses		-		(912	)		(946	)		(11,459	)		-		(2,670	)		(5,689	)		-		(461	)		(22,137	)		6,125			(16,012	)
Gross profit (loss)		-		1,362			1,280			7,726			-		(382	)		10,962			-		(128	)		20,820			(10,859	)		9,961

Adjusted gross profit (loss)		-		1,362			1,280			7,726			-		(382	)		10,962			-		1,223	¹		22,171			(12,210	)		9,961
Project development costs																																(4,465	)
General and administrative expenses																																(5,283	)
Share of profits of equity accounted investee																																4,320
Operating profit																																4,533
Financing income																																8,747
Financing income in connection
with derivatives and warrants, net																																251
Financing expenses																																(12,555	)
Profit before taxes on Income																																976

Segment assets as at December 31, 2023 **		43,071		12,807			19,691			231,142			6,612		31,164			97,339			172,096		28,297			642,219			(29,367	)		612,852

The gross profit of the Talmei Yosef solar plant located in Israel is adjusted to include income from the sale of electricity (approximately €3,844 thousand) and depreciation expenses (approximately €1,818 thousand) under the fixed asset model, which were not recognized as revenues and depreciation expenses, respectively, under the financial asset model as per IFRIC 12.