Ellomay Capital - Company guidance for FY18 confirmed at Q1
Over 2017, Ellomay made large investments in new projects and in acquisitions, which we expect to drive significant revenue and profit growth in 2018. Results for Q1 (normally weak due to seasonality) showed a 20% y-o-y growth in revenues and were in line with management expectations for FY18. We expect the following quarters to also show a pick-up in earnings. Looking beyond 2018, Ellomay has announced significant progress on Talasol, a large Spanish solar PV plant, which could reach financial close before the 2018 year-end. Our valuation of $11.0 per share implies c 28% potential upside.Ellomay Capital is a holding company. Through its subsidiaries, Co. is involved in the energy and energy infrastructure industry, mainly the production of renewable and clean energy. Co. also looks to identify and evaluate additional business opportunities in the energy and infrastructure fields, including in the renewable energy field, through the direct or indirect investment in energy manufacturing plants, acuiring an existing business or pursuing business combinations. As of Dec 31 2016, Co. owned 12 photovoltaic plants in Italy with an aggregate installed capacity of approx. 22.6 MWp and four photovoltaic plants in Spain with an aggregate installed capacity of approx. 7.9 MWp.
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