Exhibit 99.3
Summary of the Financial Statements of Ellomay Luzon Energy Infrastructures Ltd. for March 31, 20251
Ellomay Luzon Energy Infrastructures Ltd.
Condensed Statements of Financial Position
| As at March 31 | As at December 31 | |||||||||||
| 2025 | 2024 | 2024 | ||||||||||
| Unaudited | Unaudited | Audited | ||||||||||
| NIS in thousands | ||||||||||||
| Assets | ||||||||||||
| Current assets: | ||||||||||||
| Cash and cash equivalents | 805 | 113 | 1,962 | |||||||||
| Trade and other receivables | 475 | 554 | 426 | |||||||||
| 1,280 | 667 | 2,388 | ||||||||||
| Non-current assets: | ||||||||||||
| Investment in equity accounted investee | 322,479 | 263,764 | 312,190 | |||||||||
| 323,759 | 264,431 | 314,578 | ||||||||||
| Liabilities and Equity | ||||||||||||
| Current liabilities: | ||||||||||||
| Trade, related parties and other payables | 485 | 1,509 | 1,125 | |||||||||
| 485 | 1,509 | 1,125 | ||||||||||
| Equity: | ||||||||||||
| Share capital | * | * | * | |||||||||
| Share premium | 105,116 | 105,116 | 105,116 | |||||||||
| Capital notes | 46,933 | 46,933 | 46,933 | |||||||||
| Accumulated profit | 171,225 | 110,873 | 161,404 | |||||||||
| 323,274 | 262,922 | 313,453 | ||||||||||
| 323,759 | 264,431 | 314,578 | ||||||||||
| * | Represents an amount less than NIS 1 thousand |
| 1 | Summary of Hebrew version, the original language version was published by Ellomay Capital Ltd. in Israel and is available upon request. |
Ellomay Luzon Energy Infrastructures Ltd.
Condensed Statements of Comprehensive Income
| Three Months ended March 31 | Year ended December 31 | |||||||||||
| 2025 | 2024 | 2024 | ||||||||||
| Unaudited | Audited | |||||||||||
| NIS in thousands | ||||||||||||
| Other income, net | - | - | 10,451 | |||||||||
| General and administrative expenses | (308 | ) | (555 | ) | (2,089 | ) | ||||||
| Financing expenses | (160 | ) | (147 | ) | (530 | ) | ||||||
| Share of profits of equity accounted investee | 10,289 | 12,095 | 83,959 | |||||||||
| Total comprehensive income for the period | 9,821 | 11,393 | 91,791 | |||||||||
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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, 2025 (audited) | * | 46,933 | 105,116 | 161,404 | 313,453 | |||||||||||||||
| Transaction during the three-month period ended March 31, 2025 (unaudited) – | ||||||||||||||||||||
| Total comprehensive income for the period | - | - | - | 9,821 | 9,821 | |||||||||||||||
| Balance as at March 31, 2025 (unaudited) | * | 46,933 | 105,116 | 171,225 | 323,274 | |||||||||||||||
| Balance as at January 1, 2024 (audited) | * | 46,933 | 105,116 | 99,480 | 251,529 | |||||||||||||||
| Transaction during the three-month period ended March 31, 2024 (unaudited) – | ||||||||||||||||||||
| Total comprehensive income for the period | - | - | - | 11,393 | 11,393 | |||||||||||||||
| Balance as at March 31, 2024 (unaudited) | * | 46,933 | 105,116 | 110,873 | 262,922 | |||||||||||||||
| Balance as at January 1, 2024 (audited) | * | 46,933 | 105,116 | 99,480 | 251,529 | |||||||||||||||
| Transaction during the year ended December 31, 2024 (audited) – | ||||||||||||||||||||
| Dividend | - | - | - | (29,867 | ) | (29,867 | ) | |||||||||||||
| Total comprehensive income for the period | - | - | - | 91,791 | 91,791 | |||||||||||||||
| Balance as at December 31, 2024 (audited) | * | 46,933 | 105,116 | 161,404 | 313,453 | |||||||||||||||
| * | Represents an amount less than NIS 1 thousand |
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Ellomay Luzon Energy Infrastructures Ltd.
Condensed Statements of Cash Flows
| Three months ended March 31 | Year ended December 31 | |||||||||||
| 2025 | 2024 | 2024 | ||||||||||
| Unaudited | Audited | |||||||||||
| NIS in thousands | ||||||||||||
| Cash flows from operating activities - | ||||||||||||
| Net profit for the period | 9,821 | 11,393 | 91,791 | |||||||||
| Adjustments needed to present cash flows from the Company’s operating activities: | ||||||||||||
| Adjustments to the Company’s profit and loss items: | ||||||||||||
| Financing expenses | 160 | 147 | 530 | |||||||||
| Company’s share of profits of equity accounted investee | (10,289 | ) | (12,095 | ) | (83,959 | ) | ||||||
| (10,129 | ) | (11,948 | ) | (83,429 | ) | |||||||
| Changes in the assets and liabilities of the company: | ||||||||||||
| Decrease (increase) in trade and other receivables | (209 | ) | 459 | 204 | ||||||||
| Increase (decrease) in trade, related parties and other payables | (640 | ) | 129 | (255 | ) | |||||||
| (849 | ) | 588 | (51 | ) | ||||||||
| Net cash provided by (used for) operating activities | (1,157 | ) | 33 | 8,311 | ||||||||
| Cash flows from investing activities - | ||||||||||||
| Dividend from equity accounted investee | - | - | 23,438 | |||||||||
| Net cash provided by investing activities | - | - | 23,438 | |||||||||
| Cash flows from financing activities - | ||||||||||||
| Dividend paid | - | - | (29,867 | ) | ||||||||
| Net cash used for financing activities | - | - | (29,867 | ) | ||||||||
| Change in cash and cash equivalents | (1,157 | ) | 33 | 1,882 | ||||||||
| Cash and cash equivalents at the beginning of the period | 1,962 | 80 | 80 | |||||||||
| Cash and cash equivalents at the end of the period | 805 | 113 | 1,962 | |||||||||
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