Voltalia SA
Voltalia SA: Q2 2020 consolidated revenues up by 97% at constant currency – H1 2020 record contract wins support mid-term development plan
Voltalia SA
Further revenue growth acceleration in Q2 2020
Record level of new contracts in H1 2020
Capacity and EBITDA ambitions maintained, in a less predictable environment due to the sanitary and economic crisis
Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player in renewable energies, announces today its Q2 2020 revenues. “In Q2 2020, Voltalia’s revenues are growing sharply reflecting the expansion of our portfolio of plants, increased Services sales to third-party clients as well as the successful integration of Helexia. This quarter was also marked by the commissioning of VSM1 (163 megawatts), our largest wind farm worldwide, proving the continuous mobilization of our teams in very challenging times. This new step brings our total installed capacity in operation to 820 MW. The environment created by the sanitary and economic crisis is less predictable on the short-term, but our business model is long-term driven. The record-high level of 595 MW of new long-term contracts won during the first half of 2020, which secures more than 80% of our 2023 capacity ambitions provides a perfect example” comments Sébastien Clerc, CEO of Voltalia. Q2 and H1 2020 revenues
Other key figures
Business review Energy sales H1 2020 revenues were €62.5 million, up by 56% at constant currency, driven by the increase in installed capacity in operation across geographies, reaching 820 MW at the end of June 2020. Growth at current exchange rates was +37%: the global health and economic crisis led to a weakening of emerging currencies against the euro. The average EUR/BRL rate was 5.4 in H1 2020 compared with 4.3 in H1 2019. Helexia, a solar rooftop and energy efficiency specialist consolidated since July 2019, represented 18% of H1 2020 revenues. Helexia’s revenues were 24% higher when compared with H1 2019. New plants started production in Spain and Portugal in Q2 2020, with total capacity reaching 71 MW globally. Q2 2020 revenues were €32.3 million, up 34% compared to Q2 2019. The increase reached 59% at constant exchange rates:
Services H1 2020 revenues were down by 29% at constant currency and by 32% at current exchange rates, reflecting lower internal sales in the absence of strongly contributing projects. On the other hand, sales to third-party clients were multiplied by more than 2 compared with H1 2019, driven by the strong commercial activity in late 2019 and early 2020. Q2 2020 revenues were €29.0 million, down 18% at constant currency from Q2 2019 and 24% at current exchange rates.
Revenues eliminations followed the drop in internal sales and were divided by 3.3 compared to Q2 2019, to €9.7 million.
Recent commercial developments (selected)
2020 and 2023 capacity and EBITDA ambitions maintained in a less predictable environment due to the sanitary and economic crisis As communicated during the presentation of the 2019 annual results[6], the sanitary and economic crisis has created new risks that make Voltalia’s environment less predictable. The three main risks identified by Voltalia were i) the ability to carry out the construction of current and future Voltalia projects; ii) the capacity of Voltalia’s clients in Services (mainly development sales and construction projects) to move forward in their decision-making process; and iii) currency variations (mainly the Brazilian real). Both the construction and sales of services risks have had a very limited impact on Voltalia’s H1 2020 performance. Currency variations had a negative impact, with a EUR/BRL average rate at 5.4, and a closing rate at 6.1. Based on the assessment of these impacts as of today, Voltalia maintains its ambitions:
Next on the agenda: H1 2020 results on September 24, 2020 (before market open)
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 1.2 GW and a portfolio of projects under development representing total capacity of 7.8 GW. 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 791 employees and is present in 20 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.
Installed capacity at end June 2020
*4 MW of solar and 12 MW thermal Electricity production report
*Includes the production of Oiapoque solar
[1] 2020 revenues calculated at 2019 exchange rates [2] Eliminations: services provided by the Services business for Group-owned power plants are eliminated upon financial consolidation [3] Q2 2019 figures excluding the definitive disposal of 60% of the Coco-Banane solar farm eventually recognized in the second half of 2019: see H1 2019 results press release dated September 25, 2019 [4] See Q4 2019 press release dated January 22, 2020 [5] Corporate PPA for corporate power purchase agreement [6] Press release dated March 23, 2020 Regulatory filing PDF file File: PDF V ENG |
Language: | English |
Company: | Voltalia SA |
84 boulevard de Sébastopol | |
75003 Paris | |
France | |
E-mail: | invest@voltalia.com |
Internet: | www.voltalia.com |
ISIN: | FR0011995588 |
Euronext Ticker: | VLTSA |
AMF Category: | Inside information / News release on accounts, results |
EQS News ID: | 1098847 |
End of Announcement | EQS News Service |