EX-99.3 4 ea025543401ex99-3_ellomay.htm SUMMARY OF THE FINANCIAL STATEMENTS OF ELLOMAY LUZON ENERGY INFRASTRUCTURES LTD. AS OF AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025

Exhibit 99.3

Summary of the Financial Statements of Ellomay Luzon Energy Infrastructures Ltd. for June 30, 2025¹

Ellomay Luzon Energy Infrastructures Ltd.

Condensed Statements of Financial Position

	As at June 30				As at December 31
	2025		2024		2024
	Unaudited				Audited
	NIS in thousands
Assets
Current assets:
Cash and cash equivalents		31		42		1,962
Trade and other receivables		376		474		426
		407		516		2,388
Non-current assets:
Long-term trade receivables		1,473		-		-
Investment in equity accounted investee		314,195		269,299		312,190
		316,075		269,815		314,578

Liabilities and Equity

Current liabilities:
Trade, related parties and other payables		1,315		1,898		1,125
		1,315		1,898		1,125

Equity:
Share capital		*		*		*
Share premium		105,116		105,116		105,116
Capital notes		46,933		46,933		46,933
Accumulated profit		162,711		115,868		161,404
		314,760		267,917		313,453
		316,075		269,815		314,578

Represents an amount less than NIS 1 thousand

Summary of Hebrew version, the original language was published by Ellomay Capital Ltd. in Israel and is available upon request.

Ellomay Luzon Energy Infrastructures Ltd.

Condensed Statements of Comprehensive Income

	Six Months ended June 30						Three Months ended June 30						Year ended December 31
	2025			2024			2025			2024			2024
	Unaudited						Unaudited						Audited
	NIS in thousands

Other income, net		-			-			-			-			10,451
General and administrative expenses		(402	)		(967	)		(94	)		(412	)		(2,089	)
Financing expenses		(296	)		(275	)		(136	)		(128	)		(530	)
Share of profits (loss) of equity accounted investee		2,005			17,630			(8,284	)		5,535			83,959
Total comprehensive income (loss) for the period		1,307			16,388			(8,514	)		4,995			91,791

Ellomay Luzon Energy Infrastructures Ltd.

Condensed Statements of Changes in Equity

	Share Capital		Capital Notes		Share Premium		Accumulated Profit			Total Equity
	NIS in thousands

Balance as at January 1, 2025 (audited)		*		46,933		105,116		161,404			313,453
Transaction during the six-month period ended June 30, 2025 (unaudited) –
Total comprehensive profit for the period		-		-		-		1,307			1,307
Balance as at June 30, 2025 (unaudited)		*		46,933		105,116		162,711			314,760

Balance as at January 1, 2024 (audited)		*		46,933		105,116		99,480			251,529
Transaction during the six-month period ended June 30, 2024 (unaudited) –
Total comprehensive profit for the period		-		-		-		16,388			16,388
Balance as at June 30, 2024 (unaudited)		*		46,933		105,116		115,868			267,917

Balance as at April 1, 2025 (unaudited)		*		46,933		105,116		171,225			323,274
Transaction during the three-month period ended June 30, 2025 (unaudited) –
Total comprehensive loss for the period		-		-		-		(8,514	)		(8,514	)
Balance as at June 30, 2025 (unaudited)		*		46,933		105,116		162,711			314,760

Balance as at April 1, 2024 (unaudited)		*		46,933		105,116		110,873			262,922
Transaction during the three-month period ended June 30, 2024 (unaudited) –
Total comprehensive profit for the period		-		-		-		4,995			4,995
Balance as at June 30, 2024 (unaudited)		*		46,933		105,116		115,868			267,917

Balance as at January 1, 2024 (audited)		*		46,933		105,116		99,480			251,529
Transaction during the year ended December 31, 2024 (audited) –
Dividend		-		-		-		(29,867	)		(29,867	)
Total comprehensive profit for the period		-		-		-		91,791			91,791
Balance as at December 31, 2024 (audited)		*		46,933		105,116		161,404			313,453

Represents an amount less than NIS 1 thousand

Ellomay Luzon Energy Infrastructures Ltd.

Condensed Statements of Cash Flows

	Six months ended June 30						Three months ended June 30						Year ended December 31
	2025			2024			2025			2024			2024
	Unaudited						Unaudited						Audited
	NIS in thousands

Cash flows from operating activities -
Net profit (loss) for the period		1,307			16,388			(8,514	)		4,995			91,791

Adjustments needed to present cash flows from the Company’s operating activities:
Adjustments to the Company’s profit and loss items:
Financing expenses		296			275			136			128			530
Company’s share of losses (profits) of equity accounted investee		(2,005	)		(17,630	)		8,284			(5,535	)		(83,959	)
		(1,709	)		(17,355	)		8,420			(5,407	)		(83,429	)

Changes in the assets and liabilities of the Company:
Decrease (increase) in trade and other receivables		(1,719	)		411			(1,510	)		(48	)		204
Increase (decrease) in trade, related parties and other payables		190			518			830			389			(255	)
		(1,529	)		929			(680	)		341			(51	)
Net cash provided by (used for) operating activities		(1,931	)		(38	)		(774	)		(71	)		8,311

Cash flows from investing activities -
Dividend from equity accounted investee		-			-			-			-			23,438
Net cash provided by investing activities		-			-			-			-			23,438

Cash flows from financing activities -
Dividend paid		-			-			-			-			(29,867	)
Net cash provided by (used in) financing activities		-			-			-			-			(29,867	)

Change in cash and cash equivalents		(1,931	)		(38	)		(774	)		(71	)		1,882
Cash and cash equivalents at the beginning of the period		1,962			80			805			113			80
Cash and cash equivalents at the end of the period		31			42			31			42			1,962