Voltalia SA
Voltalia SA: exclusive negotiations for the acquisition of Helexia which
should accelerate the deployment in solar energy and broaden the direct
offering to corporate clients
23-May-2019 / 07:29 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player
in renewable energies, has entered into exclusive acquisition negotiations
with the shareholders of Helexia
Helexia, a solar pioneer and a reference player with a strong proximity to
corporates
In 10 years, Helexia has become a reference player in large photovoltaic
(PV) rooftops and energy efficiency thanks to its talented staff of 60 and
the recognition of its clients from the industry and service sectors.
With over 222 PV rooftop projects[1] managed in 4 countries (France,
Belgium, Italy and Portugal), 51.4 MW of installed capacity and 7.5 MW under
construction, Helexia enjoys an excellent track-record and a wide know-how.
Helexia teams develop, build and operate solar projects owned by the
Company. Thanks to a direct commercial relationship with large corporations,
Helexia offers energy efficiency services to reduce the electricity
consumption of its clients as well as the installation of PV rooftops.
Helexia's revenues are strongly growing: +38% CAGR over the 2013-2018
period. In 2018, revenues reached 14 million euros, with an EBITDA margin of
49%.
A one stop shop for corporations to benefit from the drop in solar costs
Over the past 10 years, the world total solar installed capacity has been
multiplied by 17[2]. This growth includes ground and roof mounted solar
plants.
With the drop in the cost of photovoltaic technologies (- 88% over the last
9 years[3]), solar energy is already competitive compared to fossil fuels in
many regions of the world, making subsidies unnecessary. In this context,
more and more companies install PV rooftops on their large buildings to
produce electricity, to be self-consumed or injected into the grid.
In parallel, large corporates such as BRF[4] in Brazil or Boulanger[5] in
France have today an economic interest in signing corporate PPAs (Power
Purchase Agreements) to purchase renewable energy. Large corporates are thus
rising as a new client base for Voltalia, in addition to large historical
utilities.
With the contemplated acquisition, and to adapt to this new energetic
situation, Voltalia is building a platform in Europe and emerging countries
to offer cheap renewable electricity (corporate PPAs), PV rooftops used for
self-consumption or injection into the grid and energy efficiency services
to corporates.
Transaction conditions and value creation perspectives
Helexia is currently owned by the Mulliez familly via Creadev, which is also
Voltalia's majority shareholder. The entry into exclusive negotiations was
approved by Voltalia's Board without the Creadev and Mulliez family
representatives taking part in either the deliberations or the vote, and the
acquisition price, which may be paid in Voltalia's shares, will be evaluated
by an independent expert.
As of today, 35% of Helexia's installed capacity is located on the roofs of
retailers controlled by the Mulliez family: Auchan, Decathlon, Leroy-Merlin,
Boulanger . These retailers represent numerous buildings in more than 50
countries, for which Helexia will continue to offer its services.
Furthermore, the management of both companies has identified a number of
synergies facilitated by the geographic proximity of the two players:
creating a coordinated commercial offer to clients from the industry and
services sectors, implementing Helexia in emerging countries where Voltalia
is already present, mutualizing supervision services of PV rooftops and
savings on purchases.
The definitive signing of the documentation and the finalizing of the
transaction are expected during the third quarter of 2019, after
consultation of staff representative bodies and subject to the parties'
agreements on the transaction's final terms.
"This acquisition project is in line with our growth strategy in solar
energy whose competitiveness is on the rise. With Helexia, we ambition to
build a green energy one stop shop for corporates: we would enable clients
to benefit from the drop in renewables' costs, by offering them cheaper
electricity and energy efficiency services." comments Sebastien Clerc, CEO
of Voltalia.
A shared vision and a growth project that has the support of teams
Voltalia and Helexia have known each other and worked together for the past
10 years.
"We are looking forward to the prospect of joining teams animated by the
same values as ours, at the service of a green and competitive energy.
Together with Voltalia we intend to serve our clients in a larger number of
countries, especially emerging, and offer them, along with our existing
solutions, power purchase contracts for cheap electricity coming from
Voltalia's plants" adds Nicolas Mayaud, CEO of Helexia
Next on the agenda: the Group will unveil its new ambitions during a Capital
Markets Presentation on June 6, 2019 (before trading)
About Voltalia (www.voltalia.com [1])
· Voltalia is an international player in the renewable energy sector. The
Company produces and sells electricity generated from wind, solar, hydro,
biomass and storage facilities, with a total capacity of 921 MW either in
operation or construction as of today.
· Voltalia is also a service provider, assisting its investor clients
active in renewables at each project stages, from conception to operation
and maintenance.
· With 550 employees in 18 countries over 4 continents, Voltalia is able
to act worldwide on behalf of its clients.
· Voltalia has been listed on the Euronext regulated market in Paris since
July 2014 (FR0011995588 - VLTSA) and is a component stock of the Enternext
Tech 40 index and the CAC Mid&Small index. The Group is also included in
the Gaïa-Index, an index for socially responsible midcaps.
Contact
Chief Administrative Officer: Marie de Lauzon
Investor Relations: invest@voltalia.com
+33 (0)1 81 70 37 00
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[1] PV rooftops on large buildings (large commercial areas, warehouses,
industrial buildings.) and solar carports (located on parking lots these
structures protect vehicles from sun and rain)
[2] BNEF, World Energy Outlook 2018
[3] Lazard, Levelized Cost of Energy Analysis 2018
[4] Voltalia's press release of November 14, 2018
[5] Voltalia's press release of May 21, 2019
Regulatory filing PDF file
Document title: PDF-VENG
Document: http://n.eqs.com/c/fncls.ssp?u=DMPQVASBQG [2]
Language: English
Company: Voltalia SA
84 boulevard de Sébastopol
75003 Paris
France
E-mail: invest@voltalia.com
Internet: www.voltalia.com
ISIN: FR0011995588
Euronext VLTSA
Ticker:
AMF Category: Inside information / Issuer activities (acquisitions,
sales...)
EQS News ID: 814907
End of Announcement EQS News Service
814907 23-May-2019 CET/CEST
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May 23, 2019 01:30 ET (05:30 GMT)
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