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Operating Segments (Tables) | 12 Months Ended
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Dec. 31, 2024
Operating Segments [Abstract] |
Schedule of Segment Adjusted Gross Profit | Segment adjusted 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.
|  | 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, 2024 |
|  | € in thousands |
Revenues |  |  | 2,293 |  |  |  | 2,974 |  |  |  | 1,741 |  |  |  | 18,365 |  |  |  | - |  |  |  | 15,094 |  |  |  | 67,084 |  |  |  | - |  |  |  | 278 |  |  |  | 107,829 |  |  |  | (67,362 | ) |  |  | 40,467 |
Operating expenses |  |  | (109 | ) |  |  | (519 | ) |  |  | (593 | ) |  |  | (4,695 | ) |  |  | - |  |  |  | (13,887 | ) |  |  | (50,065 | ) |  |  | - |  |  |  | (142 | ) |  |  | (70,010 | ) |  |  | 50,207 |  |  |  | (19,803 | )
Depreciation and amortization expenses |  |  | (89 | ) |  |  | (919 | ) |  |  | (1,088 | ) |  |  | (11,453 | ) |  |  | - |  |  |  | (2,316 | ) |  |  | (2,489 | ) |  |  | - |  |  |  | (48 | ) |  |  | (18,402 | ) |  |  | 2,515 |  |  |  | (15,887 | )
Gross profit (loss) |  |  | 2,095 |  |  |  | 1,536 |  |  |  | 60 |  |  |  | 2,217 |  |  |  | - |  |  |  | (1,109 | ) |  |  | 14,530 |  |  |  | - |  |  |  | 88 |  |  |  | 19,417 |  |  |  | (14,640 | ) |  |  | 4,777 |
Adjusted gross profit (loss) |  |  | 2,095 |  |  |  | 1,536 |  |  |  | 60 |  |  |  | 2,217 |  |  |  | - |  |  |  | (1,109 | ) |  |  | 14,530 |  |  |  | - |  |  |  | 317 |  |  |  | 19,646 |  |  |  | (14,869 | ) |  |  | 4,777 |
Project development costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,101 | )
General and administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,063 | )
Share of income of equity accounted investee |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,062 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,409 |
Operating profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,084 |
Financing income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,495 |
Financing income in connection with derivatives and warrants, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,140 |
Financing expenses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (23,286 | )
Profit before taxes on income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (10,567 | )
Segment assets as at December 31, 2024 |  |  | 67,546 |  |  |  | 12,633 |  |  |  | 19,403 |  |  |  | 225,452 |  |  |  | 55,564 |  |  |  | 32,360 |  |  |  | 109,579 |  |  |  | 186,333 |  |  |  | - |  |  |  | 708,870 |  |  |  | (31,613 | ) |  |  | 677,257 |
* | The results of the Talmei Yosef solar plant are presented as a discontinued operation and the plant was sold in June 2024. 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 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 and amortization 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 |  |  |  | 22,171 |  |  |  | (12,210 | ) |  |  | 9,961 |
Project development costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,465 | )
General and administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,283 | )
Share of income of equity accounted investee |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,320 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Operating profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,533 |
Financing income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,747 |
Financing income in connection with derivatives and warrants, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 251 |
Financing expenses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (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 results of the Talmei Yosef solar plant are presented as a discontinued operation, and the plant was sold in June 2024. 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.
|  | 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, 2022 |
|  | € in thousands |
Revenues |  |  | - |  |  |  | 3,264 |  |  |  | 3,597 |  |  |  | 32,740 |  |  |  | - |  |  |  | 12,640 |  |  |  | 62,813 |  |  |  | - |  |  |  | 1,119 |  |  |  | 116,173 |  |  |  | (63,932 | ) |  |  | 52,241 |
Operating expenses |  |  | - |  |  |  | (322 | ) |  |  | (1,399 | ) |  |  | (8,764 | ) |  |  | - |  |  |  | (13,186 | ) |  |  | (47,442 | ) |  |  | - |  |  |  | (418 | ) |  |  | (71,531 | ) |  |  | 47,860 |  |  |  | (23,671 | )
Depreciation and amortization expenses |  |  | - |  |  |  | (908 | ) |  |  | (427 | ) |  |  | (11,400 | ) |  |  | - |  |  |  | (2,824 | ) |  |  | (6,339 | ) |  |  | - |  |  |  | (512 | ) |  |  | (22,410 | ) |  |  | 6,830 |  |  |  | (15,580 | )
Gross profit (loss) |  |  | - |  |  |  | 2,034 |  |  |  | 1,771 |  |  |  | 12,576 |  |  |  | - |  |  |  | (3,370 | ) |  |  | 9,032 |  |  |  | - |  |  |  | 189 |  |  |  | 22,232 |  |  |  | (9,242 | ) |  |  | 12,990 |
Adjusted gross profit (loss) |  |  | - |  |  |  | 2,034 |  |  |  | 1,771 |  |  |  | 12,576 |  |  |  | - |  |  |  | (3,370 | ) |  |  | 9,032 |  |  |  | - |  |  |  | 1,565 |  |  |  | 23,608 |  |  |  | (10,618 | ) |  |  | 12,990 |
Project development costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,784 | )
General and administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,855 | )
Share of income of equity accounted investee |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,206 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Operating profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,557 |
Financing income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,443 |
Financing income in connection with derivatives and warrants, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 605 |
Financing expenses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (10,524 | )
Profit before taxes on income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,081 |
Segment assets as at December 31, 2022 |  |  | 22,608 |  |  |  | 14,577 |  |  |  | 20,090 |  |  |  | 244,584 |  |  |  | - |  |  |  | 32,002 |  |  |  | 107,079 |  |  |  | 137,432 |  |  |  | 34,750 |  |  |  | 613,122 |  |  |  | (36,965 | ) |  |  | 576,157 |
| * | The results of the Talmei Yosef solar plant are presented as a discontinued operation and the plant was sold in June 2024. The gross profit of the Talmei Yosef solar plant located in Israel is adjusted to include income from the sale of electricity (approximately €4,546 thousand) and depreciation expenses (approximately €2,051 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.
Schedule of Revenues from the Company’s Operations | The following table lists the revenues from the Company’s operations in Italy, Spain, Israel and the Netherlands:
|  | For the year ended December 31 |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | € in thousands |
Italy solar segment |  |  | 2,293 |  |  |  | - |  |  |  | - |
Spanish solar segment |  |  | 2,974 |  |  |  | 2,791 |  |  |  | 3,264 |
Ellomay Solar segment (Spain) |  |  | 1,741 |  |  |  | 4,051 |  |  |  | 3,597 |
Talasol solar segment (Spain) |  |  | 18,365 |  |  |  | 24,971 |  |  |  | 32,740 |
Netherlands biogas segment |  |  | 15,094 |  |  |  | 17,021 |  |  |  | 12,640 |
Total revenues |  |  | 40,467 |  |  |  | 48,834 |  |  |  | 52,241 |
Schedule of Non-current Assets, Net | The following table lists the non-current assets, net from the Company’s operations in Spain, Israel, USA, Italy and the Netherlands:
|  | As at December 31 |
|  | 2024 |  |  | 2023 |
Non-current assets (*) |  | € in thousands |
Spain |  |  | 222,892 |  |  |  | 238,580 |
Israel |  |  | 229,665 |  |  |  | 195,248 |
USA |  |  | 53,750 |  |  |  | 6,041 |
Italy |  |  | 58,038 |  |  |  | 33,711 |
Netherlands |  |  | 25,051 |  |  |  | 25,871 |
Total fixed assets, net |  |  | 589,396 |  |  |  | 499,451 |
(*) | Other than financial instruments, deferred tax assets and employee benefit assets.

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