Exhibit 99.1

Ellomay Capital Reports Publication of Financial Statements of Dorad Energy Ltd. for the Three and
Six Months Ended June 30, 2024

TEL-AVIV, Israel, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Ellomay Capital Ltd. (NYSE American; TASE: ELLO) (“Ellomay” or the “Company”), a renewable energy and power generator and developer of renewable energy and power projects in Europe, Israel and USA, today reported the publication in Israel of financial statements for the three and six months ended June 30, 2024 of Dorad Energy Ltd. (“Dorad”), in which Ellomay currently indirectly holds approximately 9.4% through its indirect 50% ownership of Ellomay Luzon Energy Infrastructures Ltd. (formerly U. Dori Energy Infrastructures Ltd.) (“Ellomay Luzon Energy”).

On August 30, 2024, Amos Luzon Entrepreneurship and Energy Group Ltd. (the “Luzon Group”), an Israeli public company that currently holds the remaining 50% of Ellomay Luzon Energy, which, in turn, holds 18.75% of Dorad, published its quarterly report in Israel based on the requirements of the Israeli Securities Law, 1968. Based on applicable regulatory requirements, the quarterly report of the Luzon Group includes the financial statements of Dorad for the same period.

The financial statements of Dorad for the quarter ended June 30, 2024 were prepared in accordance with International Financial Reporting Standards. Ellomay will include its indirect share of these results (through its holdings in Ellomay Luzon Energy) in its financial results for this period. In an effort to provide Ellomay’s shareholders with access to Dorad’s financial results (which were published in Hebrew), Ellomay hereby provides a convenience translation of Dorad’s financial results.

Dorad Financial Highlights

● Dorad’s unaudited revenues for the three months ended June 30, 2024 – approximately NIS 659 million.

● Dorad’s unaudited operating profit for the three months ended June 30, 2024 – approximately NIS 87.5 million.

Based on the information provided by Dorad, the demand for electricity by Dorad’s customers is seasonal and is affected by, inter alia, the climate prevailing in that season. Since January 1, 2023, the months of the year are split into three seasons as follows: the summer season – the months of June, July, August and September; the winter season – the months of December, January and February; and intermediate seasons – (spring and autumn), the months from March to May, October and November. There is a higher demand for electricity during the winter and summer seasons, and the average electricity consumption is higher in these seasons than in the intermediate seasons and is even characterized by peak demands due to extreme climate conditions of heat or cold. In addition, Dorad’s revenues are affected by the change in load and time tariffs – TAOZ (an electricity tariff that varies across seasons and across the day in accordance with demand hour clusters), as, on average, TAOZ tariffs are higher in the summer season than in the intermediate and winter seasons. Therefore, the results presented for the quarter ended June 30, 2024, which include the intermediate months of April and May and the summer month of June, are not indicative of full year results. In addition, due to various reasons, including the effects of the increase in the Israeli CPI impacting interest payments by Dorad on its credit facility, the results included herein may not be indicative of second quarter results in the future or comparable to second quarter results in the past.

The financial statements of Dorad include a note concerning the war situation in Israel, which commenced on October 7, 2023, stating that Dorad estimated, based on the information it had as of August 15, 2024 (the date of approval of Dorad’s financial statements as of June 30, 2024), that the current events and the security escalation in Israel have an impact on its results but that the impact on its short-term business results will be immaterial. Dorad further notes that as this event is not under the control of Dorad, and factors such as the continuation of the war and hostilities or their cessation may affect Dorad’s assessments, as of the date of the financial statements, Dorad is unable to assess the extent of the impact of the war on its business activities and on its medium and long-term results. Dorad continues to regularly monitor the developments and is examining the effects on its operations and the value of its assets.

A translation of the financial results for Dorad as of and for the year ended December 31, 2023 and as of and for each of the three and six month periods ended June 30, 2024 and 2023 is included at the end of this press release. Ellomay does not undertake to separately report Dorad’s financial results in a press release in the future. Neither Ellomay nor its independent public accountants have reviewed or consulted with the Luzon Group, Ellomay Luzon Energy or Dorad with respect to the financial results included in this press release.

About Ellomay Capital Ltd.

Ellomay is an Israeli based company whose shares are registered with the NYSE American and with the Tel Aviv Stock Exchange under the trading symbol “ELLO”. Since 2009, Ellomay Capital focuses its business in the renewable energy and power sectors in Europe and Israel.

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

● Approximately 335.9 MW of photovoltaic power plants in Spain (including a 300 MW photovoltaic plant in owned by Talasol, which is 51% owned by the Company) and approximately 9.95 MW of photovoltaic power plants in Italy;

● 9.375% indirect interest in Dorad Energy Ltd., which owns and operates one of Israel’s largest private power plants with production capacity of approximately 850MW, representing about 6%-8% of Israel’s total current electricity consumption;

● Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million Nm3 per year, respectively;

● 83.333% of Ellomay Pumped Storage (2014) Ltd., which is involved in a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel;

● A photovoltaic plant with installed capacity of approximately 10 MW in the Lazio Region, Italy that is ready for connection to the grid;

● Ellomay Solar Italy Ten SRL that is construction a photovoltaic plant (18 MW) in Italy;

● Ellomay Solar Italy Four SRL (15.06 MW), Ellomay Solar Italy Five SRL (87.2 MW), Ellomay Solar Italy Seven SRL (54.77 MW), Ellomay Solar Italy Nine SRL (8 MW) and Ellomay Solar Italy Fifteen SRL (10 MW) that are developing photovoltaic projects in Italy that have reached “ready to build” status; and

● Fairfield Solar Project, LLC (13.44 MW), Malakoff Solar I, LLC (6.96 MW) and Malakoff Solar II, LLC (6.96 MW), that are constructing photovoltaic plants and Mexia Solar I, LLC (5.6 MW), Mexia Solar II, LLC (5.6 MW), and Talco Solar, LLC (10.3 MW), that are developing photovoltaic projects that have reached “ready to build” status, all in the Dallas Metropolitan area, Texas.

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 the Company’s forward-looking statements, including changes in electricity prices and demand, continued war and hostilities and political and economic conditions generally in Israel, regulatory changes, the decisions of the Israeli Electricity Authority, changes in demand, technical and other disruptions in the operations of the power plant operated by Dorad, competition, changes in the supply and prices of resources required for the operation of the Dorad’s facilities and in the price of oil and electricity, changes in the Israeli CPI, changes in interest rates, seasonality, failure to obtain financing for the expansion of Dorad and other risks applicable to projects under development and construction, and other risks applicable to projects under development and construction, in addition to other risks and uncertainties associated with the Company’s and Dorad’s business that 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 Rubenbach (Weintraub)

CFO

Tel: +972 (3) 797-1111

Email: hilai@ellomay.com

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Dorad Energy Ltd.

Interim Condensed Statements of Financial Position

	June 30		June 30		December 31
	2024		2023		2023
	(Unaudited)		(Unaudited)		(Audited)
	NIS thousands		NIS thousands		NIS thousands
Current assets
Cash and cash equivalents		218,067		176,779		219,246
Trade receivables and accrued income		316,374		242,670		211,866
Other receivables		50,867		14,181		12,095
Financial derivatives		2,785		4,431		-
Total current assets		588,093		438,061		443,207
Non-current assets
Restricted deposit		526,392		537,337		522,319
Prepaid expenses		29,043		31,074		30,053
Fixed assets		3,017,054		3,173,760		3,106,550
Intangible assets		8,114		7,765		7,653
Right of use assets		54,403		56,886		55,390
Total non-current assets		3,635,006		3,806,822		3,721,965
Total assets		4,223,099		4,244,883		4,165,172
Current liabilities
Current maturities of loans from banks		308,069		293,414		299,203
Current maturities of lease liabilities		4,870		4,749		4,787
Trade payables		236,691		172,233		166,089
Other payables		10,005		12,710		31,446
Total current liabilities		559,635		483,106		501,525
Non-current liabilities
Loans from banks		1,874,385		2,115,016		1,995,909
Other Long-term liabilities		10,826		14,975		12,943
Long-term lease liabilities		49,023		51,032		47,618
Provision for dismantling and restoration		36,002		50,000		38,985
Deferred tax liabilities		306,840		237,126		278,095
Liabilities for employee benefits, net		160		160		160
Total non-current liabilities		2,277,236		2,468,309		2,373,710
Equity
Share capital		11		11		11
Share premium		642,199		642,199		642,199
Capital reserve from activities with shareholders		3,748		3,748		3,748
Retained earnings		740,270		647,510		643,979
Total equity		1,386,228		1,293,468		1,289,937
Total liabilities and equity		4,223,099		4,244,883		4,165,172

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Dorad Energy Ltd.

Interim Condensed Statements of Income

	For the six months ended				For the three months ended				Year ended
	June 30				June 30				December 31
	2024		2023		2024		2023		2023
	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)		(Audited)
	NIS thousands		NIS thousands		NIS thousands		NIS thousands		NIS thousands
Revenues	1,269,902		1,254,471		659,020		606,155		2,722,396
Operating costs of the Power Plant
Energy costs		290,785		261,490		159,701		137,416		583,112
Electricity purchase and
infrastructure services		567,671		592,821		304,480		275,659		1,244,646
Depreciation and
amortization		115,719		118,864		60,205		62,518		242,104
Other operating costs		82,766		80,718		40,297		46,547		186,024
Total operating costs of Power Plant		1,056,941		1,053,893		564,683		522,140		2,255,886
Profit from operating the Power Plant		212,961		200,578		94,337		84,015		466,510
General and administrative expenses		16,727		14,093		6,853		7,499		27,668
Other income		-		-		-		-		39
Operating profit		196,234		186,485		87,484		76,516		438,881
Financing income		31,884		36,190		19,005		16,968		45,286
Financing expenses		103,082		125,719		66,686		66,638		209,773
Financing expenses, net		71,198		89,529		47,681		49,670		164,487
Profit before taxes on income		125,036		96,956		39,803		26,846		274,394
Tax on Income		28,745		22,110		9,149		5,969		63,079
Profit for the period		96,291		74,846		30,654		20,877		211,315

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Dorad Energy Ltd.

Interim Condensed Statements of Changes in Shareholders’ Equity

					Capital reserve
					for activities
	Share		Share		with		Retained
	capital		premium		shareholders		earnings		Total Equity
	NIS thousands		NIS thousands		NIS thousands		NIS thousands		NIS thousands
For the six months ended June 30, 2024 (Unaudited)
Balance as at January 1, 2024 (Audited)		11		642,199		3,748		643,979		1,289,937
Net profit for the period		-		-		-		96,291		96,291
Balance as at June 30, 2024 (Unaudited)		11		642,199		3,748		740,270		1,386,228
For the six months ended June 30, 2023 (Unaudited)
Balance as at January 1, 2023 (Audited)		11		642,199		3,748		572,664		1,218,622
Net profit for the period		-		-		-		74,846		74,846
Balance as at June 30, 2023 (Unaudited)		11		642,199		3,748		647,510		1,293,468
For the three months ended June 30, 2024 (Unaudited)
Balance as at April 1, 2024 (Unaudited)		11		642,199		3,748		709,616		1,355,574
Net profit for the period		-		-		-		30,654		30,654
Balance as at June 30, 2024 (Unaudited)		11		642,199		3,748		740,270		1,386,228
For the three months ended June 30, 2023 (Unaudited)
Balance as at April 1, 2023 (Unaudited)		11		642,199		3,748		626,633		1,272,591
Net profit for the period		-		-		-		20,877		20,877
Balance as at June 30, 2023 (Unaudited)		11		642,199		3,748		647,510		1,293,468

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Dorad Energy Ltd.

Interim Condensed Statements of Changes in Shareholders’ Equity (cont’d)

					Capital reserve
					for activities
	Share		Share		with		Retained
	capital		premium		shareholders		earnings			Total Equity
	NIS thousands		NIS thousands		NIS thousands		NIS thousands			NIS thousands
For the year ended December 31, 2023 (Audited)
Balance as at January 1, 2023 (Audited)		11		642,199		3,748		572,664			1,218,622
Dividend distributed		-		-		-		(140,000	)		(140,000	)
Net profit for the year		-		-		-		211,315			211,315
Balance as at December 31, 2023 (Audited)		11		642,199		3,748		643,979			1,289,937

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Dorad Energy Ltd.

Interim Condensed Statements of Cash Flows

	For the six months ended						For the three months ended						Year ended
	June 30						June 30						December 31
	2024			2023			2024			2023			2023
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)			(Audited)
	NIS thousands			NIS thousands			NIS thousands			NIS thousands			NIS thousands
Net cash flows from operating activities:
Profit for the period		96,291			74,846			30,654			20,877			211,315
Adjustments:
Depreciation and amortization and fuel consumption		122,342			119,486			62,964			62,695			245,566
Taxes on income		28,745			22,110			9,149			5,969			63,079
Financing expenses, net		71,198			89,529			47,681			49,670			164,487
		222,285			231,125			119,794			118,334			473,132
Change in trade receivables		(104,508	)		(4,089	)		(135,191	)		(57,981	)		26,715
Change in other receivables		(43,921	)		18,628			(39,428	)		5,043			20,714
Change in trade payables		58,122			(78,308	)		67,028			(10,795	)		(115,976	)
Change in other payables		(3,942	)		1,271			(9,896	)		(6,504	)		2,507
Change in other long-term liabilities		(2,117	)		(2,554	)		(736	)		(951	)		(4,586	)
		(96,366	)		(65,052	)		(118,223	)		(71,188	)		(70,626	)
Net cash flows from operating activities		222,210			240,919			32,225			68,023			613,821
Cash flows from (used in) investing activities
Proceeds from (investment in) settlement of financial derivatives		(1,050	)		3,074			346			1,902			8,884
Insurance proceeds in respect of damage to fixed asset		5,148			-			2,411			-			-
Decrease in long- term restricted deposits		17,500			-			-			-			40,887
Investment in fixed assets		(32,136	)		(36,157	)		(15,067	)		(21,945	)		(102,082	)
Investment in intangible assets		(1,469	)		(2,317	)		(1,057	)		(1,500	)		(3,162	)
Interest received		19,578			13,796			10,020			7,772			33,501
Net cash flows from (used in)  investing activities		7,571			(21,604	)		(3,347	)		(13,771	)		(21,972	)
Net cash flows from financing activities:
Repayment of lease liability principal		(218	)		(212	)		(119	)		(113	)		(4,817	)
Repayment of loans from banks		(141,966	)		(130,987	)		(141,966	)		(130,987	)		(253,382	)
Dividends paid		(17,500	)		-			-			-			(122,500	)
Interest paid		(72,755	)		(76,985	)		(72,559	)		(76,835	)		(151,220	)
Net cash flows used in financing activities		(232,439	)		(208,184	)		(214,644	)		(207,935	)		(531,919	)
Net increase (decrease) in cash and cash equivalents for the period		(2,658	)		11,131			(185,766	)		(153,683	)		59,930
Effect of exchange rate fluctuations on cash and cash equivalents		1,479			14,167			4,237			6,579			7,835
Cash and cash equivalents at beginning of period		219,246			151,481			399,596			323,883			151,481
Cash and cash equivalents at end of period		218,067			176,779			218,067			176,779			219,246

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