Ellomay Capital Ltd. reported its unaudited interim financial results for the nine‑month period ended September 30 2025, showing revenue of €32.9 million, up 3 % year‑over‑year, and EBITDA of €28.2 million, a jump of €10.6 million from €17.6 million in the same period a year earlier. Net income rose to €8.5 million from €3.3 million, driven largely by a bargain‑purchase gain on a July 22 2025 acquisition of a 15 % stake in Dorad Energy.
Revenue growth was supported by the commissioning of new solar assets in Italy and the United States, which added €4.5 million to the top line, while hydro and biogas segments remained flat. The company now operates 38 MW of solar capacity in Italy and has 160 MW under construction, expected to reach commercial operation in 2026. However, output from Dutch biogas plants fell 8 % due to weather‑related outages, and the Talasol solar plant in the United States reported a 12 % drop in production after a July 2024 fire.
The €2.3 million bargain‑purchase gain from the Dorad Energy stake acquisition accounted for more than 25 % of the quarter’s net income, offsetting the impact of the biogas shortfall and the Talasol loss. The gain reflects the €15 million purchase price paid for the stake versus an estimated fair value of €17.3 million, creating a €2.3 million unrealized profit that was realized in the current period.
Chief Executive Officer Maria Rossi said the quarter demonstrated “strong execution on our solar expansion strategy and disciplined cost management.” She added that the company is “well positioned to capitalize on the growing demand for renewable capacity in Europe and the United States, while maintaining a focus on operational excellence and risk mitigation.”
Ellomay guided for full‑year 2025 revenue of €39.5 million to €40.0 million, up 4 % to 5 % from the prior guidance of €38.0 million to €38.5 million, and full‑year EBITDA of €35.0 million to €35.5 million, reflecting confidence in continued solar deployment and improved margins. Management cautioned that currency volatility and higher financing costs could temper profitability in the second half of the year, but emphasized that the company’s debt‑to‑EBITDA ratio remains within the target range of 3.0× to 3.5×.
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