VOLTALIA (EPA:VLTSA) Voltalia : Doubling of Q1 2017 consolidated revenues
Transparency directive : regulatory news
26/04/2017 18:04
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Press release
April 26, 2017
Q1 2017 financial information
Doubling of Q1 2017 consolidated revenues
Strong increase in energy sales: +68%
* * *
Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player in
renewable energies, announces its Q1 2017 revenues.
Voltalia recalls that following the acquisition of Martifer Solar in Q3 2016,
the latter was consolidated within the consolidated accounts from 1 August
2016.
"Our performance this quarter once again demonstrates the high quality of our
assets and the first successes resulting from our efforts to relaunch service
provision activities. I am proud of our teams whose work lead to this growth",
congratulates Sébastien Clerc, Chief Executive Officer of Voltalia.
Evolution of Q1 revenues(1) by business activity
Revenues(1)
(in million euros) Q1 2017 Q1 2016 Change
Energy sales 30.0 17.8 +68.1%
Development, construction and procurement 5.3 na na
Operation and maintenance 5.3 0.2 nm
Others* (1.9) na na
Consolidated revenues 38.7 18.0 x2.1
- Corporate elements and eliminations of intragroup revenues. Since January 1,
2017 and following the acquisition of Martifer Solar, Voltalia identifies the
revenues from internal services.
Q1 2017 consolidated revenue more than doubled over the period to EUR 38.7
million from EUR 18.0 million in Q1 2016. Energy sales increased by +68%
compared to Q1 2016 and benefited from:
* good performance of wind power plants in Brazil, particularly the Vamcruz
wind power plant (93 MW) commissioned in December 2015 and the 12 MW
Oiapoque hybrid power plant, whose thermal unit was also commissioned at
year-end 2015;
* revenues from the Vila Pará plant (99 MW) in Brazil, commissioned in Q3
2016. Benefiting from its head- start(2), Voltalia was able to sell the
electricity generated on the free market at generally higher sales prices
than those secured in the 20-year sales contracts.
(1) Revenues includes the Group's revenues (or revenues from ordinary
activities) and other revenues related to the business.
(2) See press release dated 11 October 2016
Over the period and with the consolidation of the activities from Martifer
Solar, Voltalia recorded revenues from service activities. Thanks to this
acquisition, Voltalia was also able to internalize additional service
activities. They are now included in the revenues in order to accurately
reflect the Group's activity level. These internal revenues are then eliminated
in order to obtain consolidated number for the Group.
In the first quarter of 2017:
* the development, construction and procurement business line benefited mainly
from revenues generated by a 5 MW construction contract for a solar power
plant in Tanzania and by sales of electrical equipments;
* in operation and maintenance, quarterly performance include revenues
generated by Martifer Solar's historical contracts, mainly in Italy, Spain
and Portugal, as well as first revenues from the new contracts signed in
Japan(3).
Recent developments
Voltalia recently announced that it has won a new biomass plant project in
French Guiana(4). The Cacao plant (5.1 MW) will produce electricity by burning
wood waste and wood chips and will benefit from a private contract with a
guaranteed price over a 25 year-period. The plant could be commissioned at the
end of 2019. This announcement confirms the strong roots of Voltalia in French
Guiana since 2005.
Finally, the awarding of the "Tech 40" label allowed Voltalia to integrate the
EnterNext Tech 40 index, effective April 21, 2017(5). In this process, Voltalia
was selected as one of the 40 innovative Tech companies listed on Euronext
(Amsterdam, Brussels, Lisbon and Paris) and operating in life sciences,
eco-industry and technologies, media and telecommunications.
Detailed data
Breakdown of revenues by geographical area
Revenues by area
(in million euros) Q1 2017 Q1 2016 Change
Latin America 28.3 13.7 x2.1
Europe 11.9 4.3 x2.7
Asia/Africa/Middle East 0.4 na na
Others * (1.9) na nm
Consolidated revenues 38.7 18.0 x2.1
* Corporate elements and eliminations of intragroup revenues. Since January 1,
2017 and following the acquisition of Martifer Solar, Voltalia identifies the
revenues from internal services.
(3) See press release dated January 25, 2017
(4) See press release dated April 21, 2017
(5) See press release dated April 20, 2017
Report on electricity production from January 1, 2017 to March 31,2017
Total energy production
by area and by energy
in GWh Wind Solar Biomass Hydro Hybrid Total
Brazil* 263.5 - - - 8.9 272.3
Metropolitan France 27.5 1.3 - - - 28.8
French Guiana - 1.1 2.7 5.9 - 9.8
Greece - 1.4 - - - 1.4
United Kingdom - 1.2 - - - 1.2
Portugal - 0.2 - - - 0.2
Total 290.9 5.2 2.7 5.9 8.9 313.7
* No production was recorded for the São Miguel do Gostoso plant (108 MW).
Pending its connection to the Brazilian national grid, Voltalia
has received compen of June 2015.
Distribution of the installed capacity by geographical area as of March 31,
2017
Installed capacity
in MW in MW Wind Solar Biomass Hydro Hybrid Total
Brazil 390.0 - - - 12.0 402.0
Metropolitan France* 42.2 4.5 - - - 46.7
French Guiana - 4.5 1.7 5.4 - 11.6
United Kingdom** - 7.3 - - - 7.3
Greece - 4.7 - - - 4.7
Portugal - 1.0 - - - 1.0
Total 432.2 21.9 1.7 5.4 12.0 473.2
*The Bio-Bar biomass power plant (7.3 MW), inactive since June 2015, was sold
in January 2017 in accordance with the protocol agreed on with the acquirer of
the client company (see chapter 20.8 of the 2015 Reference Document) following
its financial difficulties.
**Solar plant to be sold.
Figures in this press release are unaudited.
Next on the agenda: General Meeting, June 1, 2017 at 4:00 pm, at the Jones Day
auditorium, 2 rue Saint-Florentin, 75001 Paris
About Voltalia (www.voltalia.com)
* Voltalia is an international player in renewable energies, and a multi-source
electricity producer (wind, solar, hydropower and biomass with an installed
capacity of 473 MW) and provides services to third party customers.
* Voltalia is established in 15 countries on 4 continents and has a global
capacity that is at the service of its clients.
* Voltalia has been listed on the Euronext regulated market in Paris since July
2014 (FR0011995588 - VLTSA).
Actifin
Investor Relations: A. Commerot, acommerot@actifin.fr
Media Relations: J. Jullia, jjullia@actifin.fr
Tel: +33 (0)1 56 88 11 11
Voltalia
Chief Administrative Officer: Marie de Lauzon
E-mail: invest@voltalia.com
Tel: +33 (0)1 44 63 14 40