Slide 1: Financial Results Summary: H1 2015
Exhibit 99.2 NYSE MKT: ELLO; TASE: ELOM Financial Results Summary: H1 2015 1
Slide 2: Disclaimer
Disclaimer General: The information contained in this presentation is subject to, and must be read in conjunction with, all other publically available information, including our Annual Report on Form 20-F for the year ended December 31, 2014, and other filings that we make from time to time with the
Slide 3: H1 2015 vs H1 2014 financial statement figures with notes
H1 2015 H1 2014 H1 2015 H1 2014 1) From PV Operations - The decrease is mainly due to the presentation of results in U.S. dollar and the devaluation of the Euro against the U.S. dollar during the first half of 2015. Revenues denominated in Euro have increased by approximately 18% compared to the sam
Slide 4: H1 2015 Results Summary
H1 2015 Results Summary Reported revenues were approximately $7.2 million for the six months ended June 30, 2015, down by approximately 4%, compared to approximately $7.5 million for the six months ended June 30, 2014. Excluding unfavorable currency effects, revenues were up approximately 18% to app
Slide 5: Key Income and P&L Figures (USD millions)
Key Income and P&L Figures (USD millions) *See Appendix A 5
Slide 6: On going Revenues Growth (EUR millions)
On going Revenues Growth (EUR millions) H1 2015 Revenues were up by approximately 18% compared to H1 2014 6
Slide 7: Key Balance Sheet Figures (USD 000`)
Key Balance Sheet Figures (USD 000`) December 31, % % % Of June 30, 2014 Of June 30, 2015 Of 2014 BS BS BS Cash and cash equivalent, Marketable securities, Short- 23,388 15% 42,893 24% 16,729 11% term deposits Financial Debt* 55,288 35% 68,270 39% 56,626 36% Financial Debt, net* 31,900 20% 25,377 14
Slide 8: Key Financial Ratios
Key Financial Ratios December 31, June 30, June 30, 2014 2014 2015 Financial Debt to CAP (A/D) 37% 41% 38% Financial Debt, net to CAP (B/D) 21% 15% 27% Financial Debt to Total equity (A/C) 59% 70% 62% Financial Debt, net to Total equity (B/C) 34% 26% 43% *See Appendix B Strong Balance Sheet, Suffici
Slide 9: Company Overview
Company Overview Ellomay operates in the energy and infrastructure sectors, including renewable and clean energy, and aims to exploit attractive yield to risk ratios Current management/controlling shareholders took control of a public shell with approximately $80M of cash and began acquisitions/oper
Slide 10: Asset Summary
Asset Summary Italy 12 PV Plants, totaling installed capacity of approximately 22.6 MWp. Currently estimated annual revenues of approximately EUR 9.5 million. Spain 4 PV Plants, totaling installed capacity of approximately 7.9 MWp. Currently estimated annual revenues of approximately EUR 2.8 million
Slide 11: Corporate Structure
Corporate Structure Shareholders agreement1 Kanir Partnership Shlomo Nehama The public and others 31.4%2 Dorad Power Plant Israel's largest private power plant, with 850MW 16 PV plants in Italy and Spain, with an aggregate installed capacity installed capacity of approximately 30.5 MWp 1) Mr. Shlomo
Slide 12: Company History
Company History Entrance to Italian PV Commencement of Dorad’s Listing in Market Listing in Commercial Operations NYSE (acquisitions 2010 - 2013) TASE (850MW) MKT 2010 2011 2012 2013 2014 2015 Acquired indirect Entrance to Public Debenture Acquisition of equity interest in Spanish PV Issuance 3 PV p
Slide 13: Portfolio Summary
Portfolio Summary Spain Italy Israel (PV) (PV) (Gas Turbines1) Installed Capacity 7.9 MWp 22.6 MWp 850 MW % Ownership 100% 100% ~ 9.2%2 Cost of Property, Plant and Equipment3 ~ 21.3M ~ 79.8M Total capital expenditure in connection with the investment in Dorad power plant4 ~ $35.6M5 License Expiratio
Slide 14: On going Steady Capacity Growth of PV Portfolio
On going Steady Capacity Growth of PV Portfolio 14
Slide 15: Italian PV Market
Italian PV Market The FiT rate depends on: • Connection date; • Size of the plant; and • Location The FiT is guaranteed for 20 years, starting at the connection date.* Italy has high levels of radiance in European terms (1,200- 1,600 kWh/kWp). The most attractive regions are central and southern Ita
Slide 16: PV Plants in Italy
PV Plants in Italy Installed Acquisition Acquisition Connection FIT* Project name Capacity Cost per Technology Region Year Date1 Eurocent/KWh (kWp) MWp (in millions) Del Bianco 734 2010 2.9€ 04/2011 Fix Marche 32.15 Costantini 734 2010 2.9€ 04/2011 Fix Marche 32.15 Giacchè 730 2010 3.8€ 04/2011 Trac
Slide 17: PV Plants in Spain
PV Plants in Spain Acquisition Expected Installed Acquisition Cost per Connection annual Project name Capacity Technology Location Year MWp Date1 revenues (kWp) (in millions) (€ thousand) Rodríguez I 1,675 2014 1.55€ 11/2011 Fix Murcia ~ 570 Rodríguez II 2,690 2014 1.78€ 11/2011 Fix Murcia ~ 960 Fue
Slide 18: Dorad Power Plant interest
Ellomay indirectly holds approximately 9.2% interest in the Dorad Power Plant, and also holds an option to purchase an additional interest of approximately 0.2% As of today, the Dorad Power Plant is the largest private power plant in Israel, with installed capacity of approximately 850 MW. The plant
Slide 19: Dorad electricity sales and operations
Electricity is sold directly to end-users and to the national distribution network at competitive rates* The power plant, which was declared a national infrastructure project by the Israeli Prime Minister, was commercially operated and began producing electricity in full capacity in May 2014 * On Au
Slide 20: Management Team
Management Team Shlomo Nehama, Chairman of the Board - Former Chairman of the Board of Bank Hapoalim, the leading bank in Israel, between 1998 and 2007. During his years at the bank, Bank Hapoalim grew its profits and return on capital, while increasing its balance sheet by over 50% and became Israe
Slide 21: Market Data
Market Data NYSE MKT: ELLO; TASE: ELOM Share Price (June 30, 2015) $8.29 Market Cap (June 30, 2015) $89 M Shares Outstanding (June 30, 2015) 10.7 M 21
Slide 22: Investment Summary
Investment Summary 1 Diversified base of cash flow generating assets 2 Strong balance sheet and track record of securing non- dilutive financing 3 4 Seasoned management team with extensive sector knowledge and access to attractive opportunities 5 The Company’s Board of Directors adopted a dividend d
Slide 23: Appendix A - EBIDTA
Appendix A -EBIDTA • Use of NON-IFRS Financial Measures EBITDA is a non-IFRS measure and is defined as earnings before financial expenses, net, taxes, depreciation and amortization. The Company presents this measure in order to enhance the understanding of the Company’s historical financial performa
Slide 24: Appendix B - Leverage Ratios
Appendix B - Leverage Ratios • Use of NON-IFRS Financial Measures The Company defines Financial Debt as loans and borrowings plus debentures (current liabilities) plus finance lease obligations plus long-term bank loans plus debentures (non-current liabilities), Financial Debt, Net as Financial Debt
Slide 25: Appendix C - Key Income and P&L Figures (USD millions)
Appendix C - Key Income and P&L Figures (USD millions) H1 2014 H1 2015 Revenues 7.5 7.2 Gross profit 2.8 3.4 Operating profit 2 2 EBITDA * 4.6 4.4 Net income (loss) for the period (0.5) 2.6 *See Appendix A 25
Slide 26: Appendix D - Israeli Rating for Series A Debentures
Appendix D - Israeli Rating for Series A Debentures • On March 18, 2015, Standard & Poors Maalot Ltd. (“Maalot”) confirmed the rating of ilA-assigned to the Series A Debentures • traded on thereport In its rating Tel Aviv Stocknotes, Maalot Exchange and among reaffirmed other thefollows: things, as
Slide 27: Appendix D - Israeli Rating for Series A Debentures (cont.)
Appendix D - Israeli Rating for Series A Debentures (cont.) In its rating report Maalot notes, among other things, as follows (cont.): “…The stable outlook reflects our assessment that cash flows from held projects, coupled with the liquidity cushion, will be resilient, in the short term, to possibl
Slide 28: Contact
Contact Company Investor Relations Kalia Weintraub Ishay Potruch Chief Financial Officer Ellomay Capital LTD. GK International IR & PR 9 Rothschild Blvd., Tel Aviv Direct: +972 (0)3-6070590 Direct: +972-3-7971111 Mobile: +972 (0)52-3332228 Fax: +972-3-7971122 ishay@gk-biz.com Email: kaliaw@ellom
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