January 24 (Renewables Now) - French renewable power plants operator Voltalia SA (EPA:VLTSA) on Thursday reported record quarterly revenues in the last trimester of 2019 and confirmed its outlook for “material profitability improvement”.
The company expects its profits to be substantially higher in the second half of 2019 as compared with the first six months of last year due to the positive revenue trend in high margin businesses.
Voltalia’s consolidated revenues in October-December 2019 (Q4) reached EUR 61.5 million (USD 68m), rising 19% in annual terms. At constant exchange rates, the result was 22% higher. This increase, CEO Sebastien Clerc explained, mirrors the commissioning of new power plants and the acquisition of rooftop solar and energy management specialist Helexia.
CEO Sebastien Clerc pointed out that the company is also seeing increased demand for Services from third-party clients for projects developed in-house by Voltalia.
The table below gives more details about the company’s top line in Q4 2019 and the full year.
|In EUR million||Q4 2019||Q4 2018||Change||Change at constant currency||2019||2018||Change||Change at constant currency|
|- Energy sales||44.7||35.3||+27%||+30%||127.7||131.7||-3%||-1%|
|Production (GWh)||715||619||+15%||--||2 117||2 081||+2%||--|
The French firm ended 2019 with 678 MW of installed capacity, which is 29% more than at end-2018. Its wind, solar, hydro and biomass facilities produced 2,117 GWh of electricity in the past year, up 2% from 2018. It also had 397 MW of plants under construction at end-2019.
Voltalia’s goal is to have 1 GW of capacity in operation by end-2020 and to book between EUR 160 million and EUR 180 million in earnings before interest, tax, depreciation and amortisation (EBITDA). Its mid-term goal is for 2.6 GW of operational capacity and EBITDA of EUR 275 million-300 million at end-2023.
(EUR 1.0 = USD 1.105)