Sector: Utilities | Industry: Electric Utilities |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 6140 Plumas Street RENO NV 89519-6075 |
Tel: | 1-775-3569029 |
Website: | https://www.ormat.com |
IR: | See website |
Key People | ||
Isaac Angel Chairman of the Board | Doron Blachar Chief Executive Officer | Assaf Ginzburg Chief Financial Officer |
Ofer Benyosef Executive Vice President - Energy Storage and Business Development | Shimon Hatzir Executive Vice President - Electricity Segment | Jessica Woelfel Chief Compliance Officer, General Counsel, Corporate Secretary |
Business Overview |
Ormat Technologies, Inc. is a geothermal company that is engaged in geothermal and recovered energy generation (REG). The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter, a power generation unit that converts low, medium and high-temperature heat into electricity. It owns or has installed for utilities and developers worldwide, totaling approximately 3,200 megawatts (MW) of gross capacity. Its segments include Electricity Segment, Product Segment and Energy Storage Segment. Electricity segment develops, builds, owns, and operates geothermal and solar Photovoltaic (PV). Product segment designs, manufactures, and sells equipment for geothermal and recovered energy-based electricity generation. Energy Storage segment owns and operates a grid connected In Front of the Meter (IFM) Battery Energy Storage System (BESS) facilities. Its portfolio includes 1,385 MW with 1,215 MW geothermal and solar generation. |
Financial Overview |
For the fiscal year ended 31 December 2023, Ormat Technologies, Inc. revenues increased 13% to $829.4M. Net income increased 89% to $124.4M. Revenues reflect Products Segment increase of 96% to $126.2M, Electricity Segment increase of 6% to $666.8M, New Zealand segment increase from $17.1M to $66.5M, United States segment increase of 5% to $509.8M, Indonesia (Country) segment increase of 71% to $26.7M. |
Employees: | 1,576 as of Dec 31, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $5,606M as of Dec 31, 2023 |
Annual revenue (TTM): | $829.42M as of Dec 31, 2023 |
EBITDA (TTM): | $392.62M as of Dec 31, 2023 |
Net annual income (TTM): | $124.40M as of Dec 31, 2023 |
Free cash flow (TTM): | -$337.39M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | $1,670M as of Dec 31, 2023 |
Shares outstanding: | 60,381,538 as of Mar 14, 2024 |
Index Membership: | S&P 400 Mid Cap |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |