Ellomay Capital - 2018 a key year for growth delivery

Ellomay Capital is a renewable power and energy infrastructure company currently undertaking significant new development projects. 9M17 results showed significant EBITDA growth (+23% y-o-y), mostly reflecting an increase in solar production thanks to the normalisation in weather conditions. We expect 2018 to be a key year for project delivery as our revised forecasts point to very strong profit growth (EBITDA up 80% y-o-y), mainly driven by the commissioning of two new biogas projects in the Netherlands and full contribution from the solar PV acquisition in Israel. We see project delivery as the main catalyst for the stock.