What's behind ELLO's strong EPS in 2023?

Ellomay Capital's strong EPS in 2023 can be attributed to **Dorad Energy's Contribution** and **Cost Management Efforts**. 1. **Dorad Energy's Contribution**: Ellomay Capital holds an indirect 9.4% stake in Dorad Energy, a significant player in Israel's private power market. Dorad's financial performance, particularly the arbitration award received in 2023, had a substantial impact on Ellomay's results. This one-time gain boosted Dorad's net profit, which in turn benefited Ellomay through its indirect stake. 2. **Cost Management Efforts**: Despite facing challenges from lower electricity prices in Spain and gas prices in the Netherlands, Ellomay Capital demonstrated effective cost management. The company's EBITDA improved to €25.1 million in 2024, up from €18.8 million in 2023, indicating enhanced operational efficiency. This improvement suggests that Ellomay was able to manage its costs effectively, which positively influenced its EPS. In conclusion, Ellomay Capital's strong EPS in 2023 is primarily due to the positive impact of Dorad Energy's financial performance and the company's effective cost management efforts.