Voltalia SA: Growth rebound in Q3 2019 (+88% vs Q2 2019 and +3% vs Q3 2018) with strong contribution of Services
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Voltalia SA
Revenues are up in Q3 2019 at EUR56.2 million
Outlook for improved profitability in H2 2019 vs H1 2019 confirmed by positive Q3 2019 trends
Voltalia (Euronext Paris ISIN code: FR0011995588), international player in renewable energies, announces today its Q3 2019 revenues.
"The Q3 2019 performance is supported by Services sales coming from Development, a strategic feature of our model. It also benefits from the ongoing diversification of our Energy sales portfolio with the addition of capacity in Europe, both organically and through the acquisition of Helexia. These trends support our positive 2019 outlook with the expected H2 2019 profitability improvement compared with H1 2019" comments Sébastien Clerc, CEO of Voltalia.
Q3 and 9M 2019 revenues
Other key figures
Business review Energy sales Q3 2019 revenues total 37.4 million of euros, down 8% on Q3 2018, driven by:
Services Q3 2019 revenues total 35.4 million of euros, up 42% on Q3 2018, with growth driven by:
Revenues eliminations stood at 16.6 million of euros in Q3 2019. Recent developments Pursuing development in solar energy France / Europe Helexia, a rooftop solar and energy efficiency pioneer in Europe, continues its good development in the quarter and is on track to deliver another year of robust revenues growth in 2019. At end September 2019, Helexia has 56.9 MW of installed capacity in operation in France, Belgium, Italy and Portugal. In addition, 10.5 MW are in construction, including several sites in Spain, a new country opened in H1 2019. In France, early October, Voltalia has won a 20-year power sales contract for the 10.2 MW Logelbach project, as part of a call for tenders designed to compensate the shutdown of the two reactors of the Fessenheim nuclear plant. The commissioning of the solar power plant is expected in the first half of 2021. New wins in Brazil After completing construction in September of a new transmission line capable of supporting 2 GW of new projects at its Serra Branca cluster, Voltalia won new long-term power purchase agreements for a total of 48 MW. The new Solar Serra do Mel (SSM) 1 and 2 solar plants will have a total capacity of 32 MW. They will be located in Voltalia's Serra Branca cluster, which is already hosting six Voltalia wind farms in operation (309 MW) and construction (291 MW). Thanks to the recently completed connection capacity, the Serra Branca cluster has now a total potential of 2.4 GW which is available for projects to be owned by Voltalia or to be sold to third-party clients. SSM1 and SSM2 will rely on 20-year power sales agreement. The 16 MW hydro plant of Cabuí will be located at the Paraibuna river in Minas Gerais, a state known for its attractive hydraulic resources. Voltalia won a 30-year power sales agreement for this project. Going into Q4 2019 with four new plants in operation Four new plants with a total of 46.4 MW were commissioned in October and have started producing electricity and generating revenues in Q4 2019:
Before year-end, Voltalia expects the additional initial contribution of two plants in France (Talagard, Taconnaz) and of a first batch of turbines at the VSM plant in Brazil. Confirmed 2019 outlook: H2 improvement compared with H1 As expected, Voltalia recorded a strong progression of revenues in Q3 2019 compared with Q2 2019: + 88%. The positive revenues trends highlighted in the H1 results communication are materializing, with a positive impact expected on H2 profitability, compared with H1. About Voltalia ( www.voltalia.com) Voltalia is an international player in the renewable energy sector. The Group produces and sells electricity generated from wind, solar, hydraulic, biomass and storage facilities that it owns and operates. Voltalia has generating capacity in operation and under construction of more than 1 GW and a portfolio of projects under development representing total capacity of 7.1 GW, of which 0.6 GW is secured. Voltalia is also a service provider and supports its investor clients in renewable energy projects during all phases, from design to operation and maintenance. As a pioneer in the corporate market, Voltalia provides a global offer to private companies, ranging from the supply of green electricity and energy efficiency services to the local production of their own electricity. The Group has 697 employees and is present in 19 countries on 4 continents and is able to act worldwide on behalf of its clients. Voltalia is listed on the regulated market of Euronext Paris, compartment B (FR0011995588 - VLTSA) and is part of the Enternext Tech 40 and CAC Mid & Small indices. The Group is also included in the Gaïa-Index, an index for socially responsible midcaps.
Forward-Looking Statements This press release contains certain forward-looking statements relating to the business of Voltalia, which shall not be considered per se as historical facts, including the ability to manufacture, market, commercialize and achieve market acceptance for specific projects developed by Voltalia, estimates for future performance and estimates regarding anticipated operating losses, future revenues, capital requirements, needs for additional financing. In addition, even if the actual results or development of Voltalia are consistent with the forward-looking statements contained in this press release, those results or developments of Voltalia may not be indicative of their in the future. In some cases, you can identify forward-looking statements by words such as "could," "should," "may," "expects," "anticipates," "believes," "intends," "estimates," "aims," "targets," or similar words. Although the management of Voltalia believes that these forward-looking statements are reasonably made, they are based largely on the current expectations of Voltalia as of the date of this press release and are subject to a number of known and unknown risks and uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievement expressed or implied by these forward-looking statements. In particular, the expectations of Voltalia could be affected by, among other things, uncertainties involved in Voltalia's produced electricity selling price, the evolution of the regulatory context in which Voltalia operates and the competitiveness of renewable energies or any other risk and uncertainties that may affect Voltalia's production sites' capacity or profitability of as well as those developed or identified in any public documents filed by Voltalia with the AMF, included those listed in section 2.2 "Risk factors" of the 2018 document de référence filed with the French financial market authority (the Autorité des marchés financiers - the "AMF") on March 29, 2019 under number D.19-0222. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements made in this press release will in fact be realized. Notwithstanding the compliance with article 223-1 of the General Regulation of the AMF (the information disclosed must be "accurate, precise and fairly presented"), Voltalia is providing the information in these materials as of this press release, and disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Installed capacity at 30 September 2019[7]
Electricity production report7
[1] Including the contribution of Helexia from July 1st, 2019 [2] Quarterly figures calculated by difference between 9M and H1 [3] 2019 revenues calculated at 2018 exchange rates [4] Eliminations: services provided by the Services business for Group-owned power plants are eliminated upon financial consolidation [5] In 2018, Voltalia took advantage of non-recurring opportunities. By suspending the execution of contracts for some of its wind farms (60 MW at Areia Branca and 99 MW at Vila Para), Voltalia had managed to increase selling prices and generate around 25 million of euros of additional revenues of over the year. [6] Sale of 60% of Coco-Banane, which is deconsolidated since beginning of Q3 2019 [7] Including the contribution of Helexia from July 1st, 2019 [8] 4 MW of solar and 12 MW thermal Regulatory filing PDF file Document title: Voltalia Q3 2019 Revenues Document: http://n.eqs.com/c/fncls.ssp?u=XTNVYHOTLK |
| Language: | English |
| Company: | Voltalia SA |
| 84 boulevard de Sébastopol | |
| 75003 Paris | |
| France | |
| E-mail: | [email protected] |
| Internet: | www.voltalia.com |
| ISIN: | FR0011995588 |
| Euronext Ticker: | VLTSA |
| AMF Category: | Inside information / News release on accounts, results |
| EQS News ID: | 895635 |
| End of Announcement | EQS News Service |
895635 23-Oct-2019 CET/CEST
