Exhibit 99.1

Ellomay Capital Reports First Quarter 2014 Results

Tel-Aviv, Israel, June 30, 2014 – Ellomay Capital Ltd. (NYSE MKT: ELLO; TASE: ELOM) (“Ellomay” or the “Company”) an emerging operator in the renewable energy and energy infrastructure sector, today reported its unaudited financial results for the three month period ended March 31, 2014.

Financial Highlights

· Revenues were approximately $2.9 million for the three months ended March 31, 2014, and represent seasonal revenues for the winter months of January through March, with significantly lower photovoltaic energy production.

· General and administrative expenses were approximately $1.2 million for the three months ended March 31, 2014, including nonrecurring expenses in the amount of approximately $0.4 million, such as payment of bonuses to employees.

· Adjusted EBITDA was approximately $0.8 million for the three months ended March 31, 2014.

· Financial expenses, net were approximately $1.4 million for the three months ended March 31, 2014, including interest accrued on the Company’s Series A Debentures issued in January 2014.

· Share of losses of equity accounted investees was approximately $0.3 million for the three months ended March 31, 2014, primarily due to expenses in connection with the delay in the commencement of operations of the power plant operated by Dorad Energy Ltd., a Company investee (“Dorad”).

· Total comprehensive loss was approximately $1.8 million in the three months ended March 31, 2014.

· Net cash used in operating activities was approximately $0.4 million for the three months ended March 31, 2014, reflecting the collection of revenues for the winter months of November 2013 – January 2014.

· During the three months ended March 31, 2014, the Company extended an additional aggregate amount of approximately $3.9 million to Dori Energy Ltd. in connection with Dorad’s funding requirements from Dori Energy pursuant to the agreement between Dorad and its shareholders.

· In May 2014 Ellomay PV Two S.r.l., a wholly-owned Italian subsidiary of the Company, provided a notice to Unicredit S.p.A of its intention to voluntary repay its loan amounting to approximately EUR 4.8 million (approximately $6.6 million) as of March 31, 2014. The notice of early repayment was provided as this loan was under terms less beneficial to the Company compared to alternative financing resources.

· As of June 15, 2014, the Company held approximately $22.7 million in cash and cash equivalents and approximately $6.3 million in restricted cash.

· On June 22, 2014, the Company completed the issuance of NIS 80,341,000 Series A Debentures to Israeli classified investors in a private placement, in consideration for gross proceeds of approximately NIS 81.1 million (approximately $23.5 million), reflecting a price of NIS 1.01 per NIS 1 principal amount. The gross proceeds include an amount of approximately NIS 1.7 million (approximately US$0.5) that represents the first interest payment due on these additional Series A Debentures on June 30, 2014.

Ran Fridrich, CEO and a board member of Ellomay commented: “Ellomay is providing its quarterly results for the first time. The results are in line with the Company's expectations and present a standard winter quarter. Ellomay continues to seek attractive investment opportunities. In May 2014 we were able to execute a binding letter of intent for an additional approximate 5.6 MWp transaction in the Spanish market. We believe such efforts will enable Ellomay to continue and maximize shareholder value.” 

Information for the Company’s Series A Debenture Holders

As of March 31, 2014 (prior to the June 2014 expansion of the Series A Debentures), the Company’s Net Financial Debt (as such term is defined in the Series A Debentures Deed of Trust) was approximately $9.2 million (consisting of approximately $22.8 million of short-term and long-term debt from banks and other interest bearing financial obligations and approximately $32.9 million in connection with January 2014 Series A Debentures issuance, net of approximately $27 million of cash and cash equivalents and net of approximately $19.5 million of project finance and related hedging transactions of the Company's subsidiaries).

Use of NON-IFRS Financial Measures

Adjusted EBITDA is a non-IFRS measure and is defined as earnings before financial expenses, net, gain on bargain purchase, financial expenses, net, taxes, depreciation and amortization. The Company presents this measure in order to enhance the understanding of the Company’s historical financial performance and to enable comparability between periods. While the Company considers Adjusted EBITDA to be an important measure of comparative operating performance, Adjusted EBITDA should not be considered in isolation or as a substitute for net income or other statement of operations or cash flow data prepared in accordance with IFRS as a measure of profitability or liquidity. Adjusted EBITDA does not take into account the Company’s commitments, including capital expenditures, and restricted cash and, accordingly, is not necessarily indicative of amounts that may be available for discretionary uses. Not all companies calculate Adjusted EBITDA in the same manner, and the measure as presented may not be comparable to similarly-titled measures presented by other companies. The Company’s Adjusted EBITDA may not be indicative of the historic operating results of the Company; nor is it meant to be predictive of potential future results. The Company uses the term “Adjusted EBITDA” to highlight the fact that for the year ended December 31, 2013 the Company deducted the gain on bargain purchase from the net income. The Adjusted EBITDA is otherwise fully comparable to EBITDA information which has been previously provided for prior periods. See the reconciliation between the net income (loss) and the Adjusted EBITDA presented at the end of this Press Release.

About Ellomay Capital Ltd.

Ellomay is an Israeli based company whose shares are registered with the NYSE MKT, under the trading symbol "ELLO" and with the Tel Aviv Stock Exchange under the trading symbol "ELOM."  Since 2009, Ellomay Capital focuses its business in the energy and infrastructure sectors worldwide. Ellomay (formerly Nur Macroprinters Ltd.) previously was a supplier of wide format and super-wide format digital printing systems and related products worldwide, and sold this business to Hewlett-Packard Company during 2008 for more than $100 million.

To date, Ellomay has evaluated numerous opportunities and invested significant funds in the renewable, clean energy and natural resources industries in Israel, Italy and Spain, including:

· Approx. 22.6MW of photovoltaic power plants in Italy and 85% of 2.3MW of photovoltaic power plant in Spain;

· 7.5% indirect interest, with an option to increase its holdings to 9.375%, in Dorad Energy Ltd. Israel's largest private power plant, with production capacity of approximately 800 MW, representing about 8% of Israel's total current electricity consumption;

Ellomay Capital is controlled by Mr. Shlomo Nehama, Mr. Hemi Raphael and Mr. Ran Fridrich.

Mr. Nehama is one of Israel's prominent businessmen and the former Chairman of Israel's leading bank, Bank Hapohalim, and Messrs. Raphael and Fridrich both have vast experience in financial and industrial businesses. These controlling shareholders, along with Ellomay's dedicated professional management, accumulated extensive experience in recognizing suitable business opportunities worldwide. The expertise of Ellomay's controlling shareholders and management enables the company to access the capital markets, as well as assemble global institutional investors and other potential partners. As a result, Ellomay is capable of considering significant and complex transactions, beyond its immediate financial resources.

For more information about Ellomay, visit http://www.ellomay.com.

Information Relating to Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company’s management. All statements, other than statements of historical facts, included in this press release regarding the Company’s plans and objectives, expectations and assumptions of management are forward-looking statements.  The use of certain words, including the words “estimate,” “project,” “intend,” “expect,” “believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by our forward-looking statements including changes in regulation, seasonality of the PV business and market conditions. These and other risks and uncertainties associated with the Company’s business are described in greater detail in the filings the Company makes from time to time with Securities and Exchange Commission, including its Annual Report on Form 20-F. The forward-looking statements are made as of this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Kalia Weintraub

CFO

Tel: +972 (3) 797-1111

Email: anatb@ellomay.com

Condensed Consolidated Statements of Financial Position as at

	March 31,			December 31,
	2014			2013
	(Unaudited)			(Audited)
	US$ in thousands
Assets
Current assets
Cash and cash equivalents		27,038			9,738
Short-term deposits		-			2,653
Restricted cash		1,852			5,653
Trade receivables		184			134
Other receivables and prepaid expenses		5,185			4,357
		34,259			22,535
Non-current assets
Investments in equity accounted investees		28,074			24,601
Financial asset		455			389
Property, plant and equipment		92,520			93,671
Restricted cash		4,320			4,315
Other assets		1,637			1,419
		127,006			124,395
Total assets		161,265			146,930
Liabilities and Equity
Current liabilities
Loans and borrowings		1,825			19,454
Current maturities of debentures		3,327			-
Trade payable		1,924			2,154
Accrued expenses and other payables		5,915			5,311
		12,991			26,919
Non-current liabilities
Finance lease obligations		6,724			6,814
Long-term bank loans		10,941			11,050
Other long-term liabilities		3,041			2,386
Debentures		29,598			-
		50,304			20,250
Total liabilities		63,295			47,169
Equity
Share capital		26,180			26,180
Share premium		76,932			76,932
Treasury shares		(522	)		(522	)
Reserves		4,264			4,154
Accumulated deficit		(8,918	)		(7,011	)
Total equity attributed to shareholders of the Company		97,936			99,733
Non-Controlling Interest		34			28
Total equity		97,970			99,761
Total liabilities and equity		161,265			146,930

Condensed Consolidated Interim Statements of Comprehensive Income (loss)

	For the three			For the
	Months ended			Year ended
	March 31,			December 31,
	2014			2013
	(Unaudited)			(Audited)
	US$ thousands (except per share amounts)
Revenues		2,894			12,982
Operating expenses		647			2,381
Depreciation expenses		1,303			4,021
Gross profit		944			6,580
General and administrative expenses		1,172			3,449
Gain on bargain purchase		-			10,237
Operating (loss) profit		(228	)		13,368
Financing income		158			204
Financial income (expenses) in connection with derivatives, net		(673	)		1,501
Financing expenses		(921	)		(4,201	)
Financing income (expenses), net		(1,436	)		(2,496	)
Company’s share of losses of investees accounted for at equity		(281	)		(540	)
Profit (loss) before taxes on income		(1,945	)		10,332
Tax benefit (taxes on income)		44			(245	)
Net income (loss) for the period		(1,901	)		10,087
Income (loss) attributable to:
Shareholders of the Company		(1,907	)		10,068
Non-controlling interests		6			19
Net income (loss) for the period		(1,901	)		10,087
Other comprehensive income :
Foreign currency translation adjustments		110			6,038
Total other comprehensive income		110			6,038
Total comprehensive income (loss) for the period		(1,791	)		16,125
Income (Loss) per share
Basic Income (Loss) per share		(0.18	)		0.94
Diluted Income (Loss) per share		(0.18	)		0.94

Condensed Consolidated Interim Statements of Changes in Equity

	Attributable to shareholders of the Company
											Translation
											reserve
											from					Non-
	Share		Share		Accumulated			Treasury			Foreign					controlling		Total
	capital		premium		deficit			shares			Operations			Total		interests		Equity
	US$ in thousands
Balance as at
January 1, 2013		26,180		76,410		(17,079	)		(522	)		(1,884	)		83,105		9		83,114
Profit for the year		-		-		10,068			-			-			10,068		19		10,087
Other comprehensive income		-		-		-			-			6,038			6,038		*		6,038
Total comprehensive income		-		-		10,068			-			6,038			16,106		19		16,125
Transactions with owners
of the Company, recognized
directly in equity:
Cost of share-based
payments		-		522		-			-			-			522		-		522
Balance as at
December 31, 2013		26,180		76,932		(7,011	)		(522	)		4,154			99,733		28		99,761

	Attributable to owners of the Company
											Translation
											reserve
											from					Non-
	Share		Share		Accumulated			Treasury			Foreign					controlling		Total
	capital		premium		deficit			shares			Operations		Total			interests		Equity
	US$ in thousands
For the three months ended
March 31, 2014 (unaudited)
Balance as at
January 1, 2014		26,180		76,932		(7,011	)		(522	)		4,154		99,733			28		99,761
Loss for the Period		-		-		(1,907	)		-			-		(1,907	)		6		(1,901	)
Other comprehensive income		-		-		-			-			110		110			-		110
Total comprehensive income(loss)		-		-		(1,907	)		-			110		(1,797	)		6		(1,791	)
Balance as at
March 31, 2014		26,180		76,932		(8,918	)		(522	)		4,264		97,936			34		97,970

Condensed Consolidated Interim Statements of Cash Flows

	For the three Months ended March 31, 2014			For the year ended December 31, 2013
	(Unaudited)			(Audited)
	US$ in thousands
Cash flows from operating activities
Net income (loss)		(1,901	)		10,087
Adjustments for:
Financing expenses, net		1,436			2,496
Gain on bargain purchase		-			(10,237	)
Depreciation		1,303			4,021
Cost of share-based payment		-			522
Company’s share of losses of investee accounted for at equity		281			540
Decrease (increase) in trade receivables		(49	)		218
Decrease (increase) in other receivables and prepaid expenses		(962	)		1,783
Decrease in other assets		1			12
Increase (decrease) in accrued severance pay, net		(28	)		22
Increase (decrease) in accounts payable		(155	)		376
Increase (decrease) in other payables and accrued expenses		233			(1,450	)
Taxes on income (Tax benefit)		(159	)		245
Taxes on income paid		-			(458	)
Interest received		16			137
Interest paid		(409	)		(1,925	)
		1,508			(3,698	)
Net cash provided by (used in) operating activities		(393	)		6,389

Condensed Consolidated Interim Statements of Cash Flows (cont’d)

	For the three Months ended March 31, 2014			For the year ended December 31, 2013
	(Unaudited)			(Audited)
	US$ in thousands
Cash flows from investing activities:
Purchase of property and equipment		(92	)		(9,152	)
Acquisition of subsidiary, net of cash acquired		-			(30,742	)
Investment in equity accounted investees		(3,861	)		(4,372	)
Proceeds from  deposits, net		2,652			137
Settlement of forward contract		-			(169	)
Deposit  from restricted cash, net		3,801			1,519
Net cash provided by (used in) investing activities		2,500			(42,779	)
Cash flows from financing activities:
Repayment of long-term loans and financial lease obligation		(17,835	)		(7,818	)
Proceeds from debentures and loans, net		32,762			17,692
Net cash provided by financing activities		14,927			9,874
Exchange differences on balances of cash and
cash equivalents		266			462
Increase (decrease) in cash and cash equivalents		17,300			(26,054	)
Cash and cash equivalents at the beginning of period		9,738			33,292
Cash and cash equivalents at the end of the period		27,038			7,238

Reconciliation of Net income (loss) to Adjusted EBITDA (in US$ thousands)

	For the three Months ended March 31,			For the year ended December 31,
	2014			2013
	Unaudited			Unaudited
Net income (loss) for the period		(1,907	)		10,068
Financing expenses (income), net		1,436			2,496
Gain on bargain purchase		-			(10,237	)
Taxes on income (benefit)		(44	)		245
Depreciation		1,303			4,021
Adjusted EBITDA		788			6,593