Ellomay Capital (ELLO)

Business description

Ellomay Capital is a utility project owner, operator and developer focusing on alternative energy in Israel and developed Europe (Italy, Spain and the Netherlands).

Stock data

Market cap.US$89.5m
Last closeUS$8.39
High / Low (52 weeks)US$10.6 / US$7.7
Stock market listingTel Aviv Stock Exchange
Forecast net debt (€m)70.6
Forecast gearing ratio (%)83
TeamIndustrials
SectorAlternative Energy

Price performance

%1m3m12m
Actual(11.1)(11.6)3.8
Relative *(13.8)(6)(8.7)

* % Relative to local index

Other companies in sector Show

Company news

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2016A 11.6 6.8 (0.1) (2.00) N/A N/A
2017A 13.6 7.5 (6.3) (57.00) N/A 15534.7
2018E 22.4 14.3 4.5 32.08 21.2 9925.2
2019E 23.3 14.9 5.4 38.63 17.6 31506.5

Last updated on 20/04/2018

Investment summary

Ellomay Capital’s renewable assets portfolio delivered significant growth at the operating level over the course of 2017, with revenue, EBITDA and EBIT up 17%, 10% and 25% respectively (versus 2016). For 2018, we expect the company to reap the benefits of investments made in 2017, with the recently acquired Israeli solar PV assets and the commissioning of two new Dutch waste-to-energy (WTE) plants driving 91% y-o-y EBITDA growth and a positive net income contribution after two years of losses. Several new projects under development could generate additional medium-term growth, in particular the financial close of Talasol, a large solar PV plant project in Spain (potentially by Q318).

Last updated on 16/04/2018

Industry outlook

The demand for energy, particularly renewable energy, is predicted to grow strongly, providing an attractive macro environment for Ellomay’s business to operate in.

Last updated on 06/04/2018

Key management

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

Company address

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