EX-99.3 4 exhibit_99-3.htm EXHIBIT 99.3
Exhibit 99.3

                                   ELLOMAY LUZON ENERGY INFRASTRUCTURES LTD.
Condensed Statements of Financial Position

   
As at March 31
2023
    
As at December 31
2022
  
   
Unaudited
    
Unaudited
    
Audited
  
   
NIS in thousands
  
Assets
                  
Current assets:
                  
Cash and cash equivalents
    
22
      
64
      
154
  
Trade and other receivables
    
433
      
372
      
116
  
     
455
      
436
      
270
  
Non-current assets:
                        
Investment in equity accounted investee
    
249,057
      
228,624
      
239,147
  
     
249,512
      
229,060
      
239,417
  
                         
Liabilities and Equity
                        
                         
Current liabilities:
                        
Trade and other payables
    
206
      
224
      
219
  
Loans from shareholders
    
21,066
      
59,431
      
20,000
  
     
21,272
      
59,655
      
20,219
  
                         
                         
Equity:
                        
Share capital
    
*
      
*
      
*
  
Share premium
    
105,116
      
105,116
      
105,116
  
Capital notes
    
46,933
      
-
      
46,933
  
Accumulated profit
    
76,191
      
64,289
      
67,149
  
     
228,240
      
169,405
      
219,198
  
     
249,512
      
229,060
      
239,417
  

* Represents an amount less than NIS 1 thousand

                                   ELLOMAY LUZON ENERGY INFRASTRUCTURES LTD.
Condensed Statements of Comprehensive Income

   
Three Months ended March 31
    
Year ended
December 31
2022
  
   
2023
    
2022
      
   
Unaudited
    
Audited
  
   
NIS in thousands
  
                   
General and administrative expenses
    
(102
)
    
(237
)
    
(1,395
)
Operating loss
    
(102
)
    
(237
)
    
(1,395
)
Financing expenses
    
(766
)
    
(1,932
)
    
(8,437
)
Share of profits of equity accounted investee
    
9,910
      
2,742
      
13,265
  
Net profit for the period
    
9,042
      
573
      
3,433
  
Total comprehensive income for the period
    
9,042
      
573
      
3,433
  

ELLOMAY LUZON ENERGY INFRASTRUCTURES LTD.
Condensed Statements of Changes in Equity

   
Share
Capital
    
Capital notes
    
Share
Premium
    
Accumulated
profit
    
Total
Equity
  
   
NIS in thousands
  
                               
Balance as at January 1, 2023 (audited)
    
*
      
46,933
      
105,116
      
67,149
      
219,198
  
Transaction during the three-month period ended March 31, 2023 (unaudited) –
Total comprehensive profit for the period
    
-
      
-
      
-
      
9,042
      
9,042
  
Balance as at March 31, 2023 (unaudited)
    
*
      
46,933
      
105,116
      
76,191
      
228,240
  
                                         
Balance as at January 1, 2022 (audited)
    
*
      
-
      
105,116
      
63,716
      
168,832
  
Transaction during the three-month period ended March 31, 2022 (unaudited) –
Total comprehensive profit for the period
    
-
      
-
      
-
      
573
      
573
  
Balance as at March 31, 2022 (unaudited)
    
*
      
-
      
105,116
      
64,289
      
169,405
  
Balance as at January 1, 2022 (audited)
    
*
      
-
      
105,116
      
63,716
      
168,832
  
Transaction during the year ended December 31, 2022 (audited) –
Capital notes
    
-
      
46,933
      
-
      
-
      
46,933
  
Total comprehensive profit for the period
    
-
      
-
      
-
      
3,433
      
3,433
  
Balance as at December 31, 2022 (audited)
    
*
      
46,933
      
105,116
      
67,149
      
219,198
  

*Represents an amount less than NIS 1 thousand

                                   ELLOMAY LUZON ENERGY INFRASTRUCTURES LTD.
Condensed Statements of Cash Flows

   
Three months ended March 31
    
Year ended
December 31
2022
  
   
2023
    
2022
      
   
Unaudited
    
Audited
  
   
NIS in thousands
  
                   
Cash flows from operating activities -
                  
Net profit for the period
    
9,042
      
573
      
3,433
  
                         
Adjustments needed to present cash flows from the Company’s operating activities:
                        
Adjustments to the Company’s profit and loss items:
                        
Financing expenses
    
766
      
1,932
      
8,437
  
Company’s share of profits of equity accounted investee
    
(9,910
)
    
(2,742
)
    
(13,265
)
     
(9,144
)
    
(810
)
    
(4,828
)
Changes in the assets and liabilities of the company:
                        
Increase in Trade and other receivables
    
(457
)
    
(478
)
    
(558
)
Increase (decrease) in trade and other payables
    
(13
)
    
154
      
249
  
     
(470
)
    
(324
)
    
(309
)
                         
Cash paid during the period for:
                        
Interest paid
    
-
      
-
      
(528
)
Net cash provided by (used for) operating activities
    
(572
)
    
(561
)
    
(2,232
)
                         
Cash flows from financing activities -
                        
Receipt of loans from shareholders
    
440
      
126
      
1,887
  
Net cash provided by financing activities
    
440
      
126
      
1,887
  
                         
Change in cash and cash equivalents
    
(132
)
    
(435
)
    
(345
)
Cash and cash equivalents at the beginning of the period
    
154
      
499
      
499
  
Cash and cash equivalents at the end of the period
    
22
      
64
      
154