Voltalia SA
Voltalia SA: Growth rebound in Q3 2019 (+88% vs Q2 2019 and +3% vs Q3 2018)
with strong contribution of Services
23-Oct-2019 / 19:45 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Revenues are up in Q3 2019 at EUR56.2 million
· Services strong activity levels (+42% vs Q3 2018), pursuing the good
sales trends of H1 2019
· Energy sales limited decline (-8% vs Q3 2018): the effect of not having
2018's non-recurring price hike in Brazil is partially compensated by the
growth of the operating portfolio
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
In EUR million Q3 Q3 Change Change 9M 9M Change Change
2018[2 at 20191 2018 at
] consta consta
nt FX nt FX
2019[1] rates[ rates
3]
Energy sales 37.4 40.7 -8% -9% 82.9 96.4 -14% -13%
Services 35.4 24.9 +42% +42% 109.8 64.1 +71% +71%
Total revenues 72.8 65.6 +11% +10% 192.8 160.5 +20% +21%
(internal and
external)
Eliminations[4] (16.6) (11.1) +49% +49% (79.7) (31.4) x2.5 x2.5
Consolidated 56.2 54.5 +3% +2% 113.0 129.1 -12% -12%
revenues
Other key figures
Production (in GWh) 646 658 -2% -2% 1 403 1 462 -4% -4%
Installed capacity (in MW, 586 524 +12% +12%
end of period)
Business review
Energy sales
Q3 2019 revenues total 37.4 million of euros, down 8% on Q3 2018, driven by:
· a global power production up by 58% in Q3 2019 compared with Q2 2019,
reflecting the usual seasonality in wind speeds in Brazil, but which
remains below last year;
· 2018 revenues boosted by exceptional price hikes in Brazil[5],
increasing Q3 2018 revenues by around 7 million of euros. Since January
2019, selling prices in Brazil are again governed by the long-term
contracts, explaining the Group's revenues decline since the beginning of
the year;
· material growth experienced in other countries. In addition to the first
contribution of Helexia, production is lifted by robust operational
performances overall and the contribution new ground solar and wind
capacity installed in France since H2 2018.
Services
Q3 2019 revenues total 35.4 million of euros, up 42% on Q3 2018, with growth
driven by:
· total revenues (internal and external) from the Development and
Construction business sharply up compared with Q3 2018. Growth reflects
increased construction work for plants which are boosting Voltalia's
installed capacity and the sale of a redeveloped and repowered solar plant
in French Guiana (Coco-Banane, 4.3 MW)[6];
· total revenues (internal and external) from Operation & Maintenance
services up, thanks to the repowering of the Coco-Banane power plant. The
portfolio of assets operated and maintained by Voltalia remains at around
1 GW.
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:
· the Ra Solar plant (32 MW), in Egypt, which benefits from a 25-year
power sales contract. It is Voltalia's first operating plant on the
African continent;
· the Parroc (5 MW) and Tresques (3 MW) solar plants, located in the south
half of France, both benefiting from a 20- year power sale contract;
· the Savane des Pères project in French Guiana: a 3.8 MW solar power
plant associated with a 2.6 MW / 2.9 MWh storage unit, using lithium-ion
batteries, benefiting from a 25-year contract with a secured tariff. The
solution provided enables to inject electricity into the grid when the
demand for electricity is highest, between 7pm and 9pm.
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 [1])
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.
Voltalia Actifin
Investor Relations: Press Contact: Jennifer Jullia
invest@voltalia.com
jjullia@actifin.fr
+33 (0)1 81 70 37 00
+33 (0)1 56 88 11 11
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]
In MW Wind Solar Biomass Hydro Hybrid[8] 30 September
2019
Brazil 417.3 16.0 433.3
France 52.2 57.6 109.8
French Guiana 0.2 1.7 5.4 7.3
United 7.3 7.3
Kingdom
Greece 4.7 4.7
Portugal 4.7 4.7
Italy 8.1 8.1
Belgium 11.3 11.3
Total 469.5 93.8 1.7 5.4 16.0 586.4
Electricity production report7
(in GWh) Wind Solar Biomass Hydro Hybrid8 Total 9M 2019
Brazil 1 197.7 32.0 1 229.7
France 78.4 47.7 126.1
French Guiana 2.1 6.9 15.7 24.7
United Kingdom 6.5 6.5
Greece 5.9 5.9
Portugal 2.8 2.8
Italy 3.3 3.3
Belgium 3.6 3.6
Total 1 276.1 72.0 6.9 15.7 32.0 1 402.7
=---------------------------------------------------------------------------
[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 [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 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
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2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=ac6b12e2fdf38591bfaa96f22ba9dff9&application_id=895635&site_id=vwd&application_name=news
(END) Dow Jones Newswires
October 23, 2019 13:46 ET (17:46 GMT)
