$ENLT
Enlight Renewable Energy Ltd.
CIK:0001922641|SEC Filings
Consolidated Statements of Cash Flows - USD ($) $ in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
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| Cash flows from operating activities | |||||
| Profit for the year | $ 160,702 | $ 66,505 | $ 98,041 | ||
| Income and expenses not associated with cash flows: | |||||
| Depreciation and amortization | 149,922 | 108,889 | 65,796 | ||
| Finance expenses, net | 118,680 | 83,560 | 28,805 | ||
| Share-based compensation | 10,470 | 8,360 | 4,970 | ||
| Taxes on income | 43,875 | 18,275 | 28,428 | ||
| Tax benefits | (89,437) | (20,860) | (5,440) | ||
| Other income, net | 4,922 | (4,362) | (46,989) | ||
| Company’s share in losses of investee partnerships | 3,722 | 3,350 | 330 | ||
| Gains from projects disposals | (96,431) | (601) | 0 | ||
| Total income and expenses not associated with cash flows | 145,723 | 196,611 | 75,900 | ||
| Changes in assets and liabilities items: | |||||
| Change in other receivables | (1,866) | 12,261 | (3,241) | ||
| Change in trade receivables | (27,366) | (9,892) | (2,841) | ||
| Change in other payables | 14,546 | 294 | 6,382 | ||
| Change in trade payables | 5,179 | 746 | 15,474 | ||
| Total changes in assets and liabilities items | (9,507) | 3,409 | 15,774 | ||
| Income Tax paid | (14,270) | (11,246) | (12,236) | ||
| Repayment of contract assets | 0 | 0 | 14,120 | ||
| Net cash flows from operating activities | 282,648 | 255,279 | 191,599 | ||
| Cash flows from investing activities | |||||
| Sale (acquisition) of consolidated companies, net (Annex A) | 34,295 | 1,871 | (6,975) | ||
| Changes in restricted cash and bank deposits, net | (378,648) | 29,959 | (53,131) | ||
| Purchase, development and construction in respect of projects | (1,812,570) | (899,257) | (730,976) | ||
| Payments on account of acquisition of consolidated Company | (6,543) | (32,777) | (5,728) | ||
| Interest receipts | [1] | 14,795 | 12,684 | 12,490 | |
| Loans provided and investment in investees | (56,255) | (26,531) | (41,615) | ||
| Repayment of loans to investees | 30,815 | 87 | 13,441 | ||
| Loans provided to non-controlling interests | (297) | 0 | 0 | ||
| Purchase of financial assets measured at fair value through profit or loss, net | (6,475) | (14,719) | 26,919 | ||
| Net cash used in investing activities | (2,180,883) | (928,683) | (785,575) | ||
| Cash flows from financing activities | |||||
| Receipt of loans from banks and other financial institutions | 1,783,974 | 939,627 | 623,927 | ||
| Repayment of loans from banks and other financial institutions | (505,360) | (699,584) | (203,499) | ||
| Interest paid | [1] | (86,860) | (74,891) | (54,469) | |
| Issuance of debentures | 125,838 | 177,914 | 83,038 | ||
| Issuance of convertible debentures | 114,685 | 0 | 0 | ||
| Repayment of debentures | (47,545) | (26,016) | (14,735) | ||
| Dividends and distributions by subsidiaries to non-controlling interest | (29,805) | (25,536) | (13,328) | ||
| Proceeds from investments by tax-equity investors | 440,484 | 410,845 | 198,758 | ||
| Repayment of tax equity investment | (13,609) | (839) | (82,721) | ||
| Deferred borrowing costs | (68,225) | (21,637) | (1,984) | ||
| Receipt of loans from non-controlling interests | 182 | 0 | 274 | ||
| Repayment of loans from non-controlling interests | (858) | (2,960) | (1,485) | ||
| Increase in holding rights of consolidated entity. | (1,392) | (169) | 0 | ||
| Issuance of shares | 290,698 | 0 | 266,451 | ||
| Exercise of share options | 53 | 15 | 9 | ||
| Repayment of lease liability | (8,580) | (5,852) | (4,848) | ||
| Proceeds from investment in entities by non-controlling interest | 12,799 | 179 | 5,448 | ||
| Net cash from financing activities | 2,006,479 | 671,096 | 800,836 | ||
| Increase (decrease) in cash and cash equivalents | 108,244 | (2,308) | 206,860 | ||
| Balance of cash and cash equivalents at beginning of year | 387,427 | 403,805 | 193,869 | ||
| Changes in cash of disposal groups classified as held for sale | 0 | (5,753) | 0 | ||
| Effect of exchange rate fluctuations on cash and cash equivalents | 32,826 | (8,317) | 3,076 | ||
| Cash and cash equivalents at end of year | $ 528,497 | $ 387,427 | $ 403,805 | ||
| |||||
Consolidated Statements of Financial Position - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Current assets | ||
| Cash and cash equivalents | $ 528,497 | $ 387,427 |
| Restricted cash | 409,424 | 87,539 |
| Trade receivables | 95,118 | 50,692 |
| Other receivables | 62,286 | 99,651 |
| Other financial assets | 524 | 975 |
| Assets of disposal groups classified as held for sale | 0 | 81,661 |
| Total current assets | 1,095,849 | 707,945 |
| Non-current assets | ||
| Restricted cash | 130,358 | 60,802 |
| Other long-term receivables | 64,349 | 61,045 |
| Deferred costs in respect of projects | 235,615 | 357,358 |
| Deferred borrowing costs | 1,749 | 276 |
| Loans to investee entities | 85,131 | 18,112 |
| Investments in equity accounted investees | 59,310 | 0 |
| Fixed assets, net | 6,281,418 | 3,699,192 |
| Intangible assets, net | 303,971 | 291,442 |
| Deferred taxes assets | 4,692 | 10,744 |
| Right-of-use asset, net | 225,495 | 210,941 |
| Financial assets at fair value through profit or loss | 83,582 | 69,216 |
| Other financial assets | 58,383 | 59,812 |
| Total non-current assets | 7,534,053 | 4,838,940 |
| Total assets | 8,629,902 | 5,546,885 |
| Current liabilities | ||
| Credit and current maturities of loans from banks and other financial institutions | 884,120 | 212,246 |
| Trade payables | 137,230 | 161,991 |
| Other payables | 405,741 | 107,825 |
| Current maturities of debentures | 173,571 | 44,962 |
| Current maturities of lease liability | 12,396 | 10,240 |
| Other financial liabilities | 16,147 | 8,141 |
| Liabilities of disposal groups classified as held for sale | 0 | 46,635 |
| Total current liabilities | 1,629,205 | 592,040 |
| Non-current liabilities | ||
| Debentures | 477,315 | 433,994 |
| Convertible debentures | 273,801 | 133,056 |
| Loans from banks and other financial institutions | 2,981,786 | 1,996,137 |
| Loans from non-controlling interests | 86,946 | 75,598 |
| Financial liabilities through profit or loss | 26,946 | 25,844 |
| Other financial liabilities | 378,303 | 107,865 |
| Deferred taxes liabilities | 77,688 | 41,792 |
| Deferred income related to tax equity | 370,734 | 403,384 |
| Employee benefits | 1,645 | 1,215 |
| Lease liability | 231,135 | 211,941 |
| Asset retirement obligation | 99,460 | 83,085 |
| Total non-current liabilities | 5,005,759 | 3,513,911 |
| Total liabilities | 6,634,964 | 4,105,951 |
| Equity | ||
| Ordinary share capital | 3,711 | 3,308 |
| Share premium | 1,319,716 | 1,028,532 |
| Capital reserves | 99,311 | 25,273 |
| Proceeds on account of convertible options | 25,380 | 15,494 |
| Accumulated profit | 240,023 | 107,919 |
| Equity attributable to shareholders of the Company | 1,688,141 | 1,180,526 |
| Non-controlling interests | 306,797 | 260,408 |
| Total equity | 1,994,938 | 1,440,934 |
| Total liabilities and equity | $ 8,629,902 | $ 5,546,885 |