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Operating Segments
 12 Months Ended
Dec. 31, 2018
Disclosure of operating segments [abstract]  
Segments Information
Note 22 - Operating Segments

The Company presented the results of its reportable segments starting the current reporting period, in view of the Company's recent entry into additional operations such as the Bio Gas in the Netherlands resulting in separate segment reporting reviewed and analyzed by the CODM.  Comparison figures were presented accordingly.

The Company’s reportable segments, which form the Company’s strategic business units, are described below:
 
—
Photovoltaic power plants (PV Plants) – Operation of installations that convert the energy in sunlight into electrical energy. Approximately 22.6MWp aggregate installed capacity of photovoltaic power plants in Italy, approximately 7.9MWp aggregate installed capacity of photovoltaic power plants in Spain and a photovoltaic power plant of approximately 9 MWp installed capacity in Israel. Also, Talasol Solar S.L.U which is promoting the construction of a photovoltaic plant with a peak capacity of 300 MW in the municipality of Talaván, Cáceres, Spain.
—
Dorad Energy Ltd. (Dorad) – 9.375% indirect interest in Dorad, which owns and operates a combined cycle power plant based on natural gas, with production capacity of approximately 850 MW, located south of Ashkelon, Israel.
—
Anaerobic digestion plants (Bio Gas) – 51% of Groen Gas Goor B.V. and of Groen Gas Oude-Tonge B.V., project companies developing and operating anaerobic digestion plants with a green gas production capacity of approximately 375 Nm3/h, in Goor, the Netherlands and 475 Nm3/h, in Oude Tonge, the Netherlands, respectively.
—
Pumped storage hydro power plant (Manara) – 75% of a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel.

Factors that management used to identify the Company’s reportable segments

The Company’s strategic business units offer different products and the allocation of resources and evaluation of performance is managed separately because they require different technology.

For each of the strategic business units, the Company’s chief operating decision maker (CODM) reviews internal management reports on at least a quarterly basis. The following summary describes the operations in each of the Company’s operating segments.

The Company presented the photovoltaic power plants per geographical areas, as the information collected and analyzed by the CODM in connection with the PV Plants is presented based on the physical location of the PV Plant. The CODM reviews the Israeli Shekel denominated information on Dorad and the PV Plant located in Israel and the information presented in the tables below is translated into euro. The CODM reviews the company’s share in the results of Dorad. In the reports analyzed by the CODM, the PV Plant located in Israel is presented under the fixed asset model and not under the financial asset model as per IFRIC 12.

Performance is measured based on segment gross profit as included in reports that are regularly reviewed by the chief operating decision maker. Segment gross profit is used to measure performance as management believes that such information is the most relevant in evaluating the results of certain segments relative to other entities that operate within these industries.
 
Segment assets consist of current assets and fixed assets, as included in reports provided regularly to the chief operating decision maker.
 
   
PV
                      
Total
              
                                             
reportable
          
Total
  
   
Italy
    
Spain
    
Israel
    
Talasol
    
Bio Gas
    
Dorad
    
Manara
    
segments
    
Reconciliations
    
consolidated
  
   
For the year ended December 31, 2018
  
   
€ in thousands
  
                                                             
Revenues
    
9,560
      
3,033
      
4,011
      
-
      
4,483
      
58,063
      
-
      
79,150
      
(61,033
)
    
18,117
  
Operating expenses
    
(1,579
)
    
(574
)
    
(507
)
    
-
      
(3,682
)
    
(44,600
)
    
-
      
(50,942
)
    
44,600
      
(6,342
)
Depreciation expenses
    
(3,569
)
    
(828
)
    
(2,042
)
    
-
      
(1,081
)
    
(4,811
)
    
-
      
(12,331
)
    
6,515
      
(5,816
)
Gross profit (loss)
    
4,412
      
1,631
      
1,462
      
-
      
(280)
      
8,652
      
-
      
15,877
      
(9,918
)
    
5,959
  
Project development costs
                                                                    
(2,878
)
    
(2,878
)
General and
                                                                                
 administrative expenses
                                                                    
(3,600
)
    
(3,600
)
Share of profits (loss) of
                                                                                
 equity accounted investee
                                                                    
2,545
      
2,545
  
Other income, net
                                                                    
884
      
884
  
Operating profit
                                                                            
2,910
  
Financing income
                                                                    
2,936
      
2,936
  
Financing income
                                                                                
 (expenses) in connection
                                                                                
 with derivatives, net
                                                                    
494
      
494
  
Financing expenses, net
                                                                    
(5,521
)
    
(5,521
)
Profit before taxes on
                                                                                
 Income
                                                                            
819
  
Segment assets as at
                                                                                
 December 31, 2018
    
54,539
      
16,799
      
34,258
      
15,169
      
18,879
      
105,246
      
2,318
      
247,208
      
(36,048
)
    
211,160
  
 
   
PV
                      
Total
              
                                       
Reportable
          
Total
  
   
Italy
    
Spain
    
Israel
    
Dorad
    
Bio Gas
    
Manara
    
Segments
    
Reconciliations
    
consolidated
  
   
For the year ended December 31, 2017
  
   
€ in thousands
  
Revenues
    
10,143
      
3,007
      
1,378
      
58,234
      
303
      
-
      
73,065
      
(59,429
)
    
13,636
  
Operating expenses
    
(1,660
)
    
(677
)
    
(117
)
    
(45,027
)
    
(95
)
    
-
      
(47,576
)
    
45,027
      
(2,549
)
Depreciation expenses
    
(3,567
)
    
(828
)
    
(447
)
    
(4,817
)
    
(111
)
    
-
      
(9,770
)
    
5,252
      
(4,518
)
Gross profit
    
4,916
      
1,502
      
814
      
8,390
      
97
      
-
      
15,719
      
(9,150
)
    
6,569
  
Project development costs
                                                            
(2,739
)
    
(2,739
)
General and administrative expenses
                                                                        
                                                           
(2,420
)
    
(2,420
)
Share of profits (loss) of equity accounted investee
                                                                        
                                                           
1,531
      
1,531
  
Other income, net
                                                            
18
      
18
  
Operating Profit
                                                                    
2,959
  
Financing income
                                                            
1,333
      
1,333
  
Financing income (expenses) in connection with derivatives, net
                                                                        
                                                                       
                                                           
(3,156
)
    
(3,156
)
Financing expenses, net
                                                            
(7,405
)
    
(7,405
)
Loss before taxes on
Income
                                                                        
                                                                   
(6,269
)
Segment assets as at
December 31, 2017
                                                                        
   
59,441
      
16,779
      
37,903
      
114,282
      
16,882
      
2,386
      
247,673
      
(49,586
)
    
198,087
  
   
PV
                      
Total
              
                                       
reportable
          
Total
  
   
Italy
    
Spain
    
Israel
    
Dorad
    
Bio Gas
    
Manara
    
segments
    
Reconciliations
    
consolidated
  
   
For the year ended December 31, 2016
  
   
€ in thousands
  
                                                       
Revenues
    
8,919
      
2,713
      
-
      
50,730
      
-
      
-
      
62,362
      
(50,730
)
    
11,632
  
Operating expenses
    
(1,518
)
    
(564
)
    
-
      
(39,628
)
    
-
      
-
      
(41,710
)
    
39,628
      
(2,082
)
Depreciation expenses
    
(3,566
)
    
(828
)
    
-
      
(4,612
)
    
-
      
-
      
(9,006
)
    
4,595
      
(4,411
)
Gross profit
    
3,835
      
1,321
      
-
      
6,490
      
-
      
-
      
11,646
      
(6,507
)
    
5,139
  
Project development costs
                                                            
(2,201
)
    
(2,201
)
General and administrative expenses
                                                                        
                                                           
(2,032
)
    
(2,032
)
Share of pro loss of equity accounted investee
                                                                        
                                                           
1,375
      
1,375
  
Other income, net
                                                            
90
      
90
  
Operating Profit
                                                                    
2,371
  
Financing income
                                                            
263
      
263
  
Financing income (expenses) in connection with derivatives, net
                                                                        
                                                                       
                                                           
636
      
636
  
Financing expenses, net
                                                            
(3,333
)
    
(3,333
)
Loss before taxes on
Income
                                                                        
                                                                   
(63
)
Segment assets as at
December 31, 2016
                                                                        
   
62,099
      
17,321
      
-
      
117,047
      
8,360
      
380
      
205,207
      
(56,743
)
    
148,464
  


Geographical information
The Company is domiciled in Israel and it operates in Israel, Italy and in Spain through its subsidiaries that own seventeen PV Plants, in the Netherlands through its subsidiaries that own anaerobic digestion plants and also in Israel through Dori Energy.

The following table lists the revenues from the Company's operations in Israel, the Netherlands, Italy and Spain:

   
For the year ended December 31
  
   
2018
    
2017
    
2016
  
   
€ in thousands
  
Israel
    
1,041
      
183
      
-
  
The Netherlands
    
4,483
      
303
      
-
  
Italy
    
9,560
      
10,143
      
8,919
  
Spain
    
3,033
      
3,007
      
2,713
  
Total revenues
    
18,117
      
13,636
      
11,632
  

The following table lists the fixed assets, net from the Company's operation:
 
   
For the year ended December 31
  
   
2018
    
2017
  
   
€ in thousands
  
Israel
    
17
      
22
  
The Netherlands
    
17,464
      
15,046
  
Italy
    
44,986
      
48,555
  
Spain
    
24,753
      
15,214
  
Total fixed assets, net
    
87,220
      
78,837