Email: hilai@ellomay.com
Dorad Energy Ltd.
Interim Condensed Statements of Financial Position
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September 30 September 30 December 31
2024 2023 2023
------------- ------------- -------------
(Unaudited) (Unaudited) (Audited)
------------- ------------- -------------
NIS thousands NIS thousands NIS thousands
------------- ------------- -------------
Current assets
Cash and cash equivalents 531,210 363,054 219,246
Trade receivables and
accrued income 497,530 305,778 211,866
Other receivables 43,413 15,992 12,095
Financial derivatives 1,661 3,761 -
------------- ------------- -------------
Total current assets 1,073,814 688,585 443,207
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Non-current assets
Restricted deposit 529,875 552,145 522,319
Prepaid expenses 28,538 30,566 30,053
Fixed assets 2,953,489 3,132,064 3,106,550
Intangible assets 8,134 7,716 7,653
Right of use assets 54,250 56,330 55,390
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Total non-current assets 3,574,286 3,778,821 3,721,965
------------- ------------- -------------
Total assets 4,648,100 4,467,406 4,165,172
============= ============= =============
Current liabilities
Current maturities of
loans from banks 341,281 326,668 299,203
Current maturities of
lease liabilities 4,941 4,783 4,787
Trade payables 440,303 219,406 166,089
Other payables 10,914 25,812 31,446
------------- ------------- -------------
Total current liabilities 797,439 576,669 501,525
------------- ------------- -------------
Non-current liabilities
Loans from banks 1,904,195 2,131,403 1,995,909
Other Long-term
liabilities 9,827 13,969 12,943
Long-term lease
liabilities 50,061 51,691 47,618
Provision for dismantling
and restoration 36,204 50,000 38,985
Deferred tax liabilities 354,503 279,203 278,095
Liabilities for employee
benefits, net 160 160 160
------------- ------------- -------------
Total non-current
liabilities 2,354,950 2,526,426 2,373,710
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Equity
Share capital 11 11 11
Share premium 642,199 642,199 642,199
Capital reserve from
activities with
shareholders 3,748 3,748 3,748
Retained earnings 849,753 718,353 643,979
------------- ------------- -------------
Total equity 1,495,711 1,364,311 1,289,937
------------- ------------- -------------
Total liabilities and
equity 4,648,100 4,467,406 4,165,172
============= ============= =============
Dorad Energy Ltd.
Interim Condensed Statements of Income
------------------------------------------------------------------- ---------
For the nine months For the three months Year
ended ended ended
December
September 30 September 30 31
------------------------ ------------------------
2024 2023 2024 2023 2023
----------- ----------- ----------- ----------- ---------
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
----------- ----------- ----------- ----------- ---------
NIS NIS NIS NIS NIS
thousands thousands thousands thousands thousands
----------- ----------- ----------- ----------- ---------
Revenues 2,366,358 2,185,309 1,096,456 930,838 2,722,396
Operating costs
of the
Power Plant
Energy costs 483,965 499,111 193,180 237,621 583,112
1,244,646
Electricity
purchase and
infrastructure
services 1,073,350 943,040 505,678 350,219
Depreciation
and
amortization 183,735 182,861 68,016 63,997 242,104
Other operating
costs 141,992 138,657 59,227 57,939 186,024
----------- ----------- ----------- ----------- ---------
Total operating
costs
of Power Plant 1,883,042 1,763,669 826,101 709,776 2,255,886
----------- ----------- ----------- ----------- ---------
Profit from
operating
the Power
Plant 483,316 421,640 270,355 221,062 466,510
General and
administrative
expenses 25,328 20,726 8,600 6,633 27,668
Other income 30 - 30 - 39
----------- ----------- ----------- ----------- ---------
Operating
profit 458,018 400,914 261,785 214,429 438,881
Financing
income 40,982 54,805 9,098 18,615 45,286
Financing
expenses 166,818 175,843 63,736 50,124 209,773
----------- ----------- ----------- ----------- ---------
Financing
expenses, net 125,836 121,038 54,638 31,509 164,487
----------- ----------- ----------- ----------- ---------
Profit before
taxes on
income 332,182 279,876 207,147 182,923 274,394
Taxes on income 76,408 64,187 47,664 42,077 63,079
----------- ----------- ----------- ----------- ---------
Profit for the
period 255,774 215,689 159,483 140,843 211,315
=========== =========== =========== =========== =========
Dorad Energy Ltd.
Interim Condensed Statements of Changes in
Shareholders' Equity
-------------------------------------------------- ----------------------
Capital
reserve
for
activities
Share Share with Retained
Total
capital premium shareholders earnings Equity
--------- --------- ------------- --------- ---------
NIS NIS NIS NIS
thousands thousands NIS thousands thousands thousands
--------- --------- ------------- --------- ---------
For the nine
months
ended
September
30, 2024
(Unaudited)
Balance as at
January 1,
2024
(Audited) 11 642,199 3,748 643,979 1,289,937
Net profit
for the
period - - - 255,774 255,774
Dividend
distributed - - - (50,000) (50,000)
--------- --------- ------------- --------- ---------
Balance as at
September
30, 2024
(Unaudited) 11 642,199 3,748 849,753 1,495,711
========= ========= ============= ========= =========
For the nine months
ended September 30, 2023
(Unaudited)
Balance as at
January 1, 2023 (Audited) 11 642,199 3,748 572,664 1,218,622
Net profit for the period - - - 215,689 215,689
Dividend distributed - - - (70,000) (70,000)
------- ----- -------- ---------
Balance as at
September 30, 2023
(Unaudited) 11 642,199 3,748 718,353 1,364,311
======= ===== ======== =========
For the three months
ended September 30, 2024
(Unaudited)
Balance as at
July 1, 2024 (Unaudited) 11 642,199 3,748 740,270 1,386,228
Net profit for the period - - - 159,483 159,483
Dividend distributed - - - (50,000) (50,000)
------- ----- -------- ---------
Balance as at
September 30, 2024
(Unaudited) 11 642,199 3,748 849,753 1,495,711
======= ===== ======== =========
For the three months
ended September 30, 2023
(Unaudited)
Balance as at
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