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Consolidated Statements of Cash Flows
€ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
EUR (€)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
EUR (€)
Dec. 31, 2022
EUR (€)
Cash flows from operating activities        
Profit (loss) for the year € (9,006) $ (9,374) € 625 € 140
Adjustments for:        
Financing expenses, net 19,247 20,035 3,034 2,466
Profit from settlement of derivatives contract 316 329
Impairment losses on assets of disposal groups classified as held-for-sale 405 422 2,565
Depreciation and amortization 15,935 16,588 16,473 16,092
Share-based payment transactions 112 117 121 127
Share of profits of equity accounted investees (11,062) (11,515) (4,320) (1,206)
Change in trade receivables and other receivables (8,824) (9,185) (302) 724
Change in other assets 3,770 3,924 (681) (209)
Change in receivables from concessions project 793 825 1,778 (521)
Change in trade payables (31) (32) (45) 1,697
Change in other payables 4,455 4,637 (2,235) 3,807
Income tax expense (tax benefit) (1,429) (1,487) (1,852) 2,103
Income taxes paid 623 649 (912) (6,337)
Repayment of interest on loan from an equity accounted investee     1,501  
Interest received 2,537 2,641 2,936 1,896
Interest paid (9,873) (10,277) (10,082) (9,459)
Total adjustment to reconcile profit and loss 16,974 17,671 7,979 11,180
Net cash provided by operating activities 7,968 8,297 8,604 11,320
Cash flows from investing activities:        
Acquisition of fixed assets (72,922) (75,909) (58,848) (46,644)
Interest paid capitalized to fixed assets (2,515) (2,618) (2,283) (1,966)
Proceeds from sale of investments 9,267 9,647
Repayment of loan to an equity accounted investee 1,324 149
Loan to an equity accounted investee (128) (128)
Advances on account of investments (163) (170) (421) (774)
Proceeds from advances on account of investments in process 514 535 2,218
Proceeds from sales of (investment in) marketable securities 2,837 (1,062)
Investment in settlement of derivatives, net (316) (329) (528)
Proceed from (investment in) restricted cash, net 689 717 840 (4,873)
Proceeds from (investment in) short term deposit 1,004 1,045 (1,092) 27,645
Net cash used in investing activities (64,442) (67,082) (55,553) (28,181)
Cash flows from financing activities:        
Proceeds from exercise of options 36
Cost associated with long-term loans (2,567) (2,672) (1,877) (9,988)
Payment of principal of lease liabilities (2,941) (3,061) (1,156) (5,703)
Proceeds from long-term loans 19,482 20,280 32,157 215,170
Repayment of long-term loans (11,776) (12,258) (12,736) (153,751)
Repayment of Debentures (35,845) (37,313) (17,763) (19,764)
Repayment of SWAP instrument associated with long term loans (3,290)
Proceed from settlement of derivatives, net 3,800
Proceeds from issuance of Debentures, net 74,159 77,197 55,808
Proceeds from issuance of warrants 2,449 2,549
Net cash provided by financing activities 42,961 44,722 54,433 26,510
Effect of exchange rate fluctuations on cash and cash equivalents 3,092 3,215 (2,387) (4,420)
Increase (decrease) in cash and cash equivalents (10,421) (10,848) 5,097 5,229
Cash and cash equivalents at the beginning of year 51,127 53,221 46,458 41,229
Cash from disposal groups classified as held-for-sale 428 446 (428)
Cash and cash equivalents at the end of the year € 41,134 $ 42,819 € 51,127 € 46,458