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 March 31, 2024¹

ELLOMAY LUZON ENERGY INFRASTRUCTURES LTD.

Condensed Statements of Financial Position

	As at March 31				As at December 31
	2024		2023		2023
	Unaudited		Unaudited		Audited
	NIS in thousands
Assets
Current assets:
Cash and cash equivalents		113		22		80
Trade and other receivables		554		433		1,160
		667		455		1,240
Non-current assets:
Investment in equity accounted investee		263,764		249,057		251,669
		264,431		249,512		252,909
Liabilities and Equity
Current liabilities:
Trade, related parties and other payables		1,509		206		1,380
Loans from shareholders		-		21,066		-
		1,509		21,272		1,380
Equity:
Share capital		*		*		*
Share premium		105,116		105,116		46,933
Capital notes		46,933		46,933		105,116
Accumulated profit		110,873		76,191		99,480
		262,922		228,240		251,529
		264,431		249,512		252,909

* 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.

Condensed Statements of Comprehensive Income

	Three Months ended March 31						Year ended December 31
	2024			2023			2023
	Unaudited						Audited
	NIS in thousands
General and administrative expenses		(555	)		(102	)		(983	)
Operating loss		(555	)		(102	)		(983	)
Financing expenses		(147	)		(766	)		(2,458	)
Share of profits of equity accounted investee		12,095			9,910			38,772
Net profit for the period		11,393			9,042			35,331
Total comprehensive income for the period		11,393			9,042			35,331

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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, 2024 (audited)		*		46,933		105,116		99,480			251,529
Transaction during the three-month period ended March 31, 2024 (unaudited) –
Total comprehensive profit 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, 2023 (audited)		*		46,933		105,116		67,149			219,198
Transaction during the three-month period ended March 31, 2023 (unaudited) –
Total comprehensive profit for the period		-		-		-		9,042			9,042
Balance as at March 31, 2023 (unaudited)		*		46,933		105,116		76,191			228,240
Balance as at January 1, 2023 (audited)		*		46,933		105,116		67,149			219,198
Transaction during the year ended December 31, 2023 (audited) –
Dividend		-		-		-		(3,000	)		(3,000	)
Total comprehensive profit for the period		-		-		-		35,331			35,331
Balance as at December 31, 2023 (audited)		*		46,933		105,116		99,480			251,529

* 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
	2024			2023			2023
	Unaudited						Audited
	NIS in thousands
Cash flows from operating activities -
Net profit for the period		11,393			9,042			35,331
Adjustments needed to present cash flows from the Company’s operating activities:
Adjustments to the Company’s profit and loss items:
Financing expenses		147			766			2,458
Company’s share of profits of equity accounted investee		(12,095	)		(9,910	)		(38,772	)
		(11,948			(9,144	)		(36,314	)
Changes in the assets and liabilities of the company:
Decrease (increase) in trade and other receivables		459			(457	)		(1,542	)
Increase (decrease) in trade, related parties and other payables		129			(13	)		1,161
		588			(470	)		(381	)
Cash paid during the period for:
Interest paid		-			-			(12,664	)
Net cash provided by (used for) operating activities		33			(572	)		(14,028	)
Cash flows from investing activities -
Dividend from equity accounted investee		-			-			26,250
Net cash provided by investing activities		-			-			26,250
Cash flows from financing activities -
Repayment of loans to shareholders		-			-			(10,292	)
Dividend paid		-			-			(3,000	)
Receipt of loans from shareholders		-			440			996
Net cash provided by financing activities		-			440			(12,296	)
Change in cash and cash equivalents		33			(132	)		(74	)
Cash and cash equivalents at the beginning of the period		80			154			154
Cash and cash equivalents at the end of the period		113			22			80

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