Ellomay Capital Ltd · AMEX:ELLO
Ellomay Capital — Investor Presentation (February 2025)
29 slides from Ellomay Capital's investor presentation, Feb 4, 2025
Slide 1: Investors Presentation January 2025
Initiation, Development and Operation of Renewable Energy Projects for the Generation and Storage of Electricity and Gas through a Range of Technologies Investors Presentation January 2025
Slide 2: Legal Disclaimer
Legal Disclaimer 2 General The information contained in this presentation is subject to, and must be read in conjunction with, all other publicly available information, including our Annual Report on Form 20 - F for the year ended December 31 , 2023 , and other filings that we make from time to time
Slide 3: Legal Disclaimer (cont.)
Legal Disclaimer (cont.) 3 Use of non - IFRS Measures This presentation includes adjusted revenues, EBITDA, adjusted EBITDA, FFO and adjusted FFO forecasts ; EBITDA is defined as income before net finance expenses, taxes, depreciation and amortization, and FFO (funds from operations) is calculated b
Slide 4: Our Objectives
Our Objectives 4 Continued Growth Growth in the renewable energy activity from development to manufacturing - in Europe, USA, Israel A Profitable and Sustainable Company Generating a stable cash flow from renewable energy and energy storage assets with geographical distribution and using a range of
Slide 5: Forecast Connection of the Projects to the Grid
Forecast Connection of the Projects to the Grid 5 757 MW - existing 229 MW – Italy 100 MW - USA 229 MW - Italy 40 MW - USA 455 MW Connected to grid 522 MW - existing 195 MW - Italy 40 MW - USA 455 MW - existing 18 MW - Italy 49 MW - USA 213 MW - Italy 156 MW - Manara, Israel 49 MW - USA 522 MW Conne
Slide 6: Solar activity — Texas USA
i Solar activity — Texas USA
Slide 7: New Operations of the Company - in Texas, USA
7 New Operations of the Company - in Texas, USA Commencement of Operations and Strategy • Commencement of operations - 2023 - in 2023 , Ellomay Capital, through wholly - owned subsidiaries, started the development and construction of a portfolio of photovoltaic projects located in the Dallas, Texas
Slide 8: Projects in Texas
Projects in Texas Joint development agreement for building 49 MW solar Location: Dallas metropolitan area Expected net cost : EUR 38.5M Facility type: Several sites under distributed generation regulation Date of expected connection to the grid: • Q1 2025 – 27.4 MW • Q2 2025 – 21.6 MW Year on which
Slide 9: Energy generation from waste (biogas) - the Netherlands
Energy generation from waste (biogas) - the Netherlands
Slide 10: Waste-to-Energy (Biogas) Projects
Waste – to – Energy (Biogas) Projects The biogas segment - expected data by projects 2024 Expected annual gas production capacity Expected own - production of electricity Project Expected Expected EBITDA* revenues EUR 7.9M EUR 1M 8.4 million cubic meters Groen Gas Gelderland 1MW Groen Gas Oude – Ton
Slide 11: Israel
elloma CAPITAL LIMITED _— x as Israel
Slide 12: The Company's Operations in Israel
The Company’s Operations in Israel 12 Pumped Storage • The construction of a pumped storage project in the Manara Cliff • Capacity of 156 MWh , continuous operation for 12 hours • Total 1,872 MW storage capacity • The project can be extended to 220 MWh Solar + Storage Projects Development and constr
Slide 13: Pumped Storage Manara Cliff - Under Construction
Pumped Storage Manara Cliff - Under Construction 13 Lower reservoir The main entrance tunnel The main entrance tunnel The low pressure water tunnel
Slide 14: Israel - Manara Cliff Pumped Storage Project
Israel - Manara Cliff Pumped Storage Project Total storage capacity of approx. 1,872 MWh Ownership 83.34%: Ellomay Capital Ltd. 16.66%*: Ampa Investments Ltd. Facility type Pumped storage Location Manara Cliff - Israel Expected capacity 156 MW Option to expand to 220 MW Expected cost ** EUR 467M ***
Slide 15: Dorad Power Plant
Dorad Power Plant 15 Power plant’s current capacity and structure A power plant with a capacity of approx. 850 MW. Gas - fired or diesel fuel - fired power plant, composed of 12 jet turbines and 2 residual heat turbines (closed cycle). Israeli government resolution to expand the power plant In mid -
Slide 16: Development of Solar Projects in Israel
Development of Solar Projects in Israel Connection to the grid License validity Tariff per kWh Capacity Status The project was sold Project Talmei Yosef Solar TBD Market regulation Market regulation 21 MW Urban Building Plan Approved Komemiyut Solar + storage TBD Market regulation Market regulation
Slide 17: Spain
ellomay CAPITAL LIMITED =
Slide 18: Spain - Solar Projects Connected to the Grid
Spain - Solar Projects Connected to the Grid Tariff / PPA Radiation (P50) Capacity Project 20% market price / 80% PPA 1,869 300 MW Talasol )1) Market price 1,909 28 MW Ellomay Solar A EUR 0.22 subsidy per kWh 1,486 1.248 MW SeguiSolar A EUR 0.21 subsidy per kWh 1,533 1.675 MW Rodríguez 1 A EUR 0.21
Slide 19: Italy
Italy
Slide 20: Projects in Italy
Projects in Italy Geogr aphic Deployment - 2025 164.1 MWp Friuli - Venezia Giulia 20 8 MWp Marche 129.7 MWp Piemonte 160.2 MWp Lazio
Slide 21: Solar Projects in Italy
Solar Projects in Italy 21 Connected to grid / Expected date of connection to the grid Geographical location Expected annual capacity (P50) Annual radiation (P50) MW Status Project Connected to grid Lazio 25,512 1,726 14.8 Commercial operation Ello 1 Connected to grid Lazio 8,414 1,702 4.9 Commercia
Slide 22: Financial Data
ellomay Financial Data
Slide 23: Financial Forecast
Financial Forecast | in EUR million 48.0 23 27.0 20.0 61.0 37.0 26.0 83.0 56.0 42.0 72.0 58.0 0 20 40 60 80 100 120 102.0 Adjusted revenues * Adjusted EBITDA from projects ** Adjusted FFO from projects ** 2027 2026 2025 2024 2027 2026 2025 2024 2027 2026 2025 2024 Adjusted revenues * 48 61 83 102 Ad
Slide 24: Summary Table of Projects - Financial Data
Summary Table of Projects - Financial Data | in EUR million Expected Expected interest on repayment of bank loans in principal of bank 2024 loans in 2024 24 Expected debt as of December 31, 2024 Expected adjusted Expected EBITDA* in adjusted 2024 FFO* in 2024 Expected annual revenues in 2024 Capacit
Slide 25: Summary Table of Projects under Development/Construction - Financial Data
Summary Table of Projects under Development/Construction - Financial Data | in EUR million Expected cost 25 Expected annual FFO * Expected annual EBITDA * Expected annual revenues * Capacity MW % of ownership Expected timetable Projects Under construction / ready to build EUR 467 EUR 17 (1) (2) EUR
Slide 26: Key Balance Sheet Data
Key Balance Sheet Data | in EUR thousand 26 % of assets September 30, 2024 % of assets December 31, 2023 % of assets December 31, 2022 % of assets December 31, 2021 8% 50,864 9% 52,124 9% 49,294 13% 71,585 Cash and cash equivalents, deposits and marketable securities 71% 456,879 69% 422,025 67% 384,
Slide 27: Key Financial Ratios
Key Financial Ratios September 30, 2024 December 31, 2023 December 31, 2022 December 31, 2021 78% 77% 82% 76% Ratio of financial debt to CAP * 69% 68% 72% 61% Ratio of net financial debt to CAP * *See Appendix A f or calculation Company’s Debt Duration (As of January 2025) 0.42 Annual interest rate
Slide 28: Appendix A - Leverage Ratios
Appendix A - Leverage Ratios | EUR thousand 28 Leverage ratios based on the Company’s balance sheet September 30, 2024 December 31, 2023 December 31, 2022 December 31, 2021 In EUR thousands 20,060 9,784 12,815 126,180 Current liabilities Current maturities of long - term bank loans 5,000 5,000 10,00
Slide 29: Thank You
Thank You For more information Ran Fridrich, CEO | ranf@ellomay.com Kalia Rubenbach, CFO | kaliaw@ellomay.com www.ellomay.com
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