Below are the financial statements of Ormat Technologies, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenues | — | — | — |
| Electricity | 702.26a | 666.77a | 631.73a |
| Product | 139.66a | 133.76a | 71.41a |
| Energy storage | 37.73a | 28.89a | 31.02a |
| Total revenues | 879.65a | 829.42a | 734.16a |
| Cost of revenues | — | — | — |
| Electricity | -459.53a | -422.55a | -380.36a |
| Product | -113.91a | -115.8a | -60.48a |
| Energy storage | -33.6a | -27.06a | -24.5a |
| Total cost of revenues | -607.04a | -565.41a | -465.34a |
| Gross profit | 272.62a | 264.02a | 268.82a |
| Operating expenses | — | — | — |
| Research and development expenses | -6.5a | -7.22a | -5.08a |
| Selling and marketing expenses | -17.69a | -18.31a | -16.19a |
| General and administrative expenses | -80.12a | -68.18a | -61.27a |
| Other operating income | -9.38a | 0a | 0a |
| Impairment of long-lived assets | -1.28a | 0a | -32.65a |
| Write-off of unsuccessful exploration and storage activities | -3.93a | -3.73a | -0.83a |
| Operating income | 172.47a | 166.59a | 152.8a |
| Other income (expense) | — | — | — |
| Interest income | 7.88a | 11.98a | 3.42a |
| Interest expense, net | -134.03a | -98.88a | -87.74a |
| Derivatives and foreign currency transaction gains (losses) | -4.19a | -3.28a | -6.04a |
| Income attributable to sale of tax benefits | 73.05a | 61.16a | 33.89a |
| Other non-operating income (expense), net | 0.19a | 1.52a | -0.71a |
| Income from operations before income tax and equity in earnings (losses) of investees | 115.38a | 139.09a | 95.61a |
| Income tax (provision) benefit | -16.29a | -5.98a | -14.74a |
| Equity in earnings (losses) of investees | -0.43a | 0.04a | -3.07a |
| Net income | 131.24a | 133.14a | 77.8a |
| Net income attributable to noncontrolling interest | -7.51a | -8.74a | -11.95a |
| Net income attributable to the company's stockholders | 123.73a | 124.4a | 65.84a |
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