Ellomay Capital (ELLO)

Business description

Ellomay Capital owns an international portfolio of power generation assets comprising solar plants in Italy and Spain and a gas-fired power plant in Israel. It operates principally in regulated markets.

Stock data

Market cap.US$86.3m
Last closeUS$8.08
High / Low (52 weeks)US$9.6 / US$7.0
Stock market listingTel Aviv Stock Exchange
Forecast net debt (US$m)23.8
Forecast gearing ratio (%)26
TeamIndustrials
SectorAlternative Energy

Price performance

%1m3m12m
Actual1.4(4.6)(3.3)
Relative *1.2(7.7)(13.9)

* % Relative to local index

Other companies in sector Show

Company news

Ellomay Capital Announces Entry Into The Netherlands Renewable Energy Market

Tue, 09 Aug 2016 09:00:00 GMT

Ellomay Capital Reports Results for the Fourth Quarter and Full Year of 2016

Fri, 31 Mar 2017 10:03:58 GMT

Ellomay Capital Announces Results of Debenture Offering in Israel

Tue, 14 Mar 2017 12:22:30 GMT

Ellomay: A Systematically Undervalued Utilities Micro-Cap

Tue, 06 Dec 2016 15:18:39 GMT

Watch-list Stock of Traders: Ellomay Capital Ltd.'s (ELLO) stock price is at ...

Mon, 03 Apr 2017 12:56:15 GMT

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2014A 15.8 8.4 2.5 20.92 38.6 11.8
2015A 13.8 7.2 1.9 35.25 22.9 8.7
2016E 12.8 5.5 0.6 7.93 101.9 14.3
2017E 14.3 8.5 4.8 33.10 24.4 11.9

Last updated on 30/03/2017

Investment summary

Temporary factors – both lower solar radiation (worse weather) and lower spot prices – hit Ellomay’s 9M16 results. However, we leave our FY17 forecasts little changed and increase our FY18 numbers on power price forecasts and currency moves. 9M16 results contained nothing to permanently unsettle investors on Ellomay and its equity story. Plus there has been good progress towards the development of several Dutch waste-to-energy assets.

Last updated on 04/04/2017

Industry outlook

Ellomay operates solar PV assets in Spain and Italy and has an equity stake in a gas-fired power plant in Israel. All three markets have seen tariff reductions imposed by regulatory authorities and governments in recent years. Regulatory risk is the main potential negative driver of Ellomay's earnings given a high percentage of its earnings are derived from tariff subsidies. This aside, subsidised power generation provides attractive, steady cash flow for asset-owners, which will either be distributed or reinvested.

Last updated on 04/04/2017

Key management

Shlomo Nehama , Chairman
Ran Fridrich, CEO
Kalia Weintraub, CFO

Company address

9 Rothschild Boulevard
Tel Aviv
Israel
+972 3 7971111
View website