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Ellomay ( (IL:ELLO) ) has provided an update.
Ellomay Capital Ltd. reported a decrease in revenues and profits for the nine months ending September 30, 2024, attributed to reduced electricity prices in Spain and a fire affecting their solar facilities. Despite a decline in revenues from €40.4 million to €31.8 million and profit from continuing operations dropping from €10.4 million to €3.2 million, the company benefitted from compensation related to the fire. They also experienced increased project development and administrative costs due to consultancy expenses, but saw a rise in share of profits from equity accounted investees.
More about Ellomay
Ellomay Capital Ltd. is a renewable energy and power generation company operating in Europe, USA, and Israel. The company focuses on developing and managing renewable energy projects, including solar and biogas plants, contributing to sustainable energy solutions.
YTD Price Performance: 8.36%
Average Trading Volume: 4,789
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $210.4M
See more data about ELLO stock on TipRanks’ Stock Analysis page.
