While operational growth and EBITDA expansion are positive, the reliance on non-recurring gains and rising financing costs raise sustainability concerns. Traders should monitor the upcoming sale of Dorad holdings (valued at NIS 4.4 billion) for potential one-time gains and watch for war-related compensation outcomes in Israel. The stock may react positively to project monetization but remains sensitive to interest rate and geopolitical risks.
Price Chart
Executive Summary
Ellomay Capital reported full-year 2025 revenues of €42.8 million, up 5.7% YoY, with EBITDA increasing 33.1% to €33.4 million despite a narrower annual loss of €6 million (vs. €9 million in 2024). The results were boosted by new solar projects in Italy and the U.S., a €29.1 million gain on bargain purchase from its Dorad Energy investment, and higher equity income, though offset by rising financing costs and war-related construction delays in Israel.
Key Financial Metrics
Key Facts
- Full-year 2025 revenue: €42.8 million (+5.7% YoY), driven by new solar facilities in Italy and the U.S.
- Full-year 2025 EBITDA: €33.4 million (+33.1% YoY), including a €14.5 million gain from an equity investee's bargain purchase.
- Annual loss narrowed to €6 million from €9 million in 2024, but Q4 2025 loss widened to €14.5 million from €11.5 million in Q4 2024.
- Financing expenses rose to €27.4 million in 2025 from €19.7 million in 2024 due to new debentures and derivative costs.
- Manara 156 MW pumped storage project in Israel faces war-related delays, with compensation negotiations ongoing.
Financial Impact
Revenue up 5.7% YoY, EBITDA up 33.1% YoY, but net loss widened in Q4; €29.1 million non-recurring gain from Dorad investment boosted equity income.
Risk Factors
- Geopolitical risk: War in Israel has halted key construction at the Manara project with uncertain compensation timing.
- Financing risk: Net cash from operations dropped to €1.8 million in 2025 from €8 million in 2024 due to higher interest expenses.
- Volatility in power prices: European and Spanish electricity price swings are impacting PPA hedge values and revenue stability.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3266262 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 14, 2026 12d ago | 6-K | $21.80 | awaiting T+20 | — | $21.40 (−1.86%) |
Oct 6, 2026 20d ago | 6-K | $21.80 | awaiting T+20 | — | $21.40 (−1.86%) |
Sep 29, 2026 27d ago | Press Release | $22.41 | awaiting T+20 | — | $21.40 (−4.51%) |
Aug 31, 2026 8w ago | 6-K | $21.00 $21.90 | ▲ +4.29% | ▲ +4.47% | $21.40 (+1.88%) |
Aug 18, 2026 9w ago | Press Release | $19.60 $20.19 | ▲ +3.01% | ▲ +4.53% | $21.40 (+9.16%) |
Jun 30, 2026 16w ago | 6-K | $18.75 $19.30 | ▲ +2.93% | ▲ +5.12% | $21.40 (+14.11%) |
Jun 22, 2026 18w ago | 6-K | $19.01 $18.55 | ▲ +2.42% | ▲ +3.58% | $21.40 (−12.55%) |
May 27, 2026 21w ago | 6-K | $24.64 $19.20 | ▲ +22.08% | ▲ +20.18% | $21.40 (+13.17%) |
May 27, 2026 21w ago | Press Release | $24.64 $19.20 | ▼ −22.08% | ▼ −20.18% | $21.40 (−13.17%) |
May 1, 2026 25w ago | Press Release | $26.10 $23.74 | ▼ −9.04% | ▼ −14.33% | $21.40 (−18.03%) |
US Market Status
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