PARIS (Thomson Financial) - Theolia posted a net profit of 6.3 mln eur in the first six months, swinging from a loss of 4.1 mln a year earlier and said it expects sales and earnings to come in even higher in the second half.
It said it 'remains on track to meet its financial targets and may well exceed them', and raised full-year sales guidance to 260-300 mln eur from 260 previously.
It made no specific alteration to EBITDA guidance for 62 mln eur.
The news came a day after shares in the renewable energy company surged as much as 16 pct on market rumours that 17.03 pct shareholder General Electric Co may make a takeover bid.
No reference to GE was made in tonight's statement.
The energy company cited chief executive Jean-Marie Santander as saying results for the whole financial year 'should show further substantial progress as the sale of wind farms to third parties is weighted towards the second half of the year, so the Group makes the most of its turnover and profit in the second half'.
He added that wind farms to be commissioned or acquired in the second half should contribute to an increase in both sales and profitability.
He said Theolia remains on target to achieve 150 MW sold to third parties by the end of the year and that the group's performance in the year to date 'has enabled us to meet our objectives'.
The group said it is sticking to its target of 2000 MW by the end of 2011 in terms of wind farms acquired and/or built and operated on its own account or on behalf of third parties. tfn.paris@thomson.com mrg/ejp COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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