Ellomay Capital (ELLO) 6-K Report of Foreign Private Issuer

Exhibit 99.3

Summary of the Financial Statements of Ellomay Luzon Energy Infrastructures Ltd. for December 31, 2023¹

ELLOMAY LUZON ENERGY INFRASTRUCTURES LTD.

Statements of Financial Position

	2023		2022
	NIS in thousands
Assets
Current assets:
Cash and cash equivalents		80		154
Trade and other receivables		1,160		116
		1,240		270
Non-current assets:
Investment in equity accounted investee		251,669		239,147
		252,909		239,417
Liabilities and Equity
Current liabilities:
Trade, related parties and other payables		1,380		219
Loans from shareholders		-		20,000
		1,380		20,219
Equity:
Share capital		*		*
Capital notes		46,933		46,933
Share premium		105,116		105,116
Accumulated profit		99,480		67,149
		251,529		219,198
		252,909		239,417

* Represents an amount less than NIS 1 thousand

1 Summary of Hebrew version, the original language was published by Ellomay Capital Ltd. in Israel and is available upon request.

ELLOMAY LUZON ENERGY INFRASTRUCTURES LTD.

Statements of Comprehensive Income (Loss)

	For the year ended December 31
	2023			2022			2021
	NIS in thousands
General and administrative expenses		(983	)		(1,395	)		(2,590	)
Operating loss		(983	)		(1,395	)		(2,590	)
Financing expenses		(2,458	)		(8,437	)		(6,688	)
Share of profits of equity accounted investee		38,772			13,265			6,974
Net profit (loss) for the year		35,331			3,433			(2,304	)
Total comprehensive income (loss) for the year		35,331			3,433			(2,304	)

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ELLOMAY LUZON ENERGY INFRASTRUCTURES LTD.

Statements of Changes in Equity

	Share Capital		Share Premium		Capital Notes		Accumulated Profit			Total Equity
	NIS in thousands
Balance as at January 1, 2021		*		105,116		-		66,020			171,136
Total comprehensive loss for the year		-		-		-		(2,304	)		(2,304	)
Balance as at December 31, 2021		*		105,116		-		63,716			168,832
Capital Notes		-		-		46,933		-			46,933
Total comprehensive profit for the year		-		-		-		3,433			3,433
Balance as at December 31, 2022		*		105,116		46,933		67,149			219,198
Dividend		-		-		-		(3,000	)		(3,000	)
Total comprehensive profit for the year		-		-		-		35,331			35,331
Balance as at December 31, 2023		*		105,116		46,933		99,480			251,529

* Represents an amount less than NIS 1 thousand

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ELLOMAY LUZON ENERGY INFRASTRUCTURES LTD.

Statements of Cash Flows

	Year ended December 31,
	2023			2022			2021
	NIS in thousands
Cash flows from operating activities -
Net profit (loss) for the year		35,331			3,433			(2,304	)
Adjustments needed to present cash flows from the Company’s operating activities:
Adjustments to the Company’s profit and loss items:
Financing expenses		2,458			8,437			6,688
Company’s share of profits of equity accounted investee		(38,772	)		(13,265	)		(6,974	)
		(36,314	)		(4,828	)		(286	)
Changes in the assets and liabilities of the company:
Decrease (increase) in trade and other receivables		(1,542	)		(558	)		40
Increase (decrease) in trade, related parties and other payables		1,161			249			(807	)
		(381	)		(309	)		(767	)
Cash paid during the period for:
Interest paid		(12,664	)		(528	)		(6,868	)
Net cash used in operating activities		(14,028	)		(2,232	)		(10,225	)
Cash flows from investing activities -
Dividend from equity accounted investee		26,250			-			18,750
Net cash provided by investing activities		26,250			-			18,750
Cash flows from financing activities -
Repayment of loans to shareholders		(10,292	)		-			(11,132	)
Dividend paid		(3,000	)		-			-
Receipt of loans from shareholders		996			1,887			2,600
Net cash provided by (used in) financing activities		(12,296	)		1,887			(8,532	)
Decrease in cash and cash equivalents		(74	)		(345	)		(7	)
Cash and cash equivalents at the beginning of the period		154			499			506
Cash and cash equivalents at the end of the period		80			154			499

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