Ellomay Publishes Dorad Energy’s NIS2.65B Revenue and NIS385M Operating Profit
Ellomay released Dorad Energy’s FY2025 results showing revenues of approximately NIS 2,650.5 million and operating profit of NIS 385.4 million. Ellomay holds an indirect 16.9% stake in Dorad through its 50% interest in Ellomay Luzon Energy and will report its share of these results in its upcoming financial statements.
1. Publication of Dorad Energy FY2025 Financial Statements
Ellomay released the financial statements of Dorad Energy for the year ended December 31, 2025, reflecting its indirect 16.9% stake via Ellomay Luzon Energy. The results show revenues of approximately NIS 2,650.5 million and operating profit of NIS 385.4 million.
2. Seasonal Demand and Tariff Effects
Dorad’s electricity demand and revenue are seasonal, with higher consumption and TAOZ tariffs in summer and winter months driving peak loads and tariff income, while intermediate seasons yield lower rates.
3. Impact of Conflict and Refinancing
Revenue in June 2025 declined by approximately 22% year-over-year due to the expanded conflict between Israel and Iran, followed by a return to full activity post-ceasefire, and Dorad warns that the February 28, 2026 conflict could further impact operations.
4. Inclusion in Ellomay Financial Results
Ellomay will consolidate its proportional share of Dorad’s results in its upcoming financial statements and has provided an English convenience translation of the Hebrew report, though it does not plan separate releases of these figures.