Economia
Voltalia 2024 first quarter Turnover
Quarterly Turnover up +13%
driven by Energy Sales up +20%
comments Sébastien Clerc, Chief Executive Officer of Voltalia.
Turnover stands at 111.1 million euros, up +13% (+12% at constant exchange rates), of which 57% are generated in Europe, 37% in Latin America and 6% in Africa.
Turnover from Energy Sales amount s to 74.9 million euros, up +20% (+18% at constant exchange rates) and account s for 67% of total sales.
Turnover to third-party customers stands at 36.1 million euros, up + 2 % at current and constant exchange rates, and account s for 33% of total sales.
Production rises by +2% to 973 GWh. The decrease in load factors and the change in scope due to the power plants sold in 2023 are more than offset by the new power plants production commissioned in 2023, for a total of 795 MW. The low wind load factor of the Brazilian's power plants, in the context of the end of the El Niño weather cycle, was taken into account on April 2, 2024 when setting the annual EBITDA target for 2024.
Analysis of production by country
Turnover from Energy Sales amounts to 74.9 million euros, up sharply by +20% (+18% at constant exchange rates) thanks to a rise in the average selling price per MWh, with two main factors: first revenues generation at a high price for the Karavasta power plant, and the contractual indexation of selling prices to inflation .
First-quarter 2024 from Third-Party Services (after eliminations) comes to 36.1 million euros, up +2% (at current and constant exchange rates), while internal Services (eliminated on consolidation) falls by -39%.
Voltalia launches construction of a 49.9 MW photovoltaic power plant in the south-east of the country. The project will cover the annual electricity consumption of more than 14,385 average British households and avoid the emission of more than 35,681 tons of CO per year. The electricity will be sold under long-term sales contracts to corporate customers ( Corporate PPA ) who will consume the electricity generated. The plant will start producing in the second half of 2025.
The crowdfunding campaign launched at the beginning of 2024 was a great success with a collection of
4 million euros. With a capacity of 23.6 MW, Sud Vannier wind farm produced its first kilowatt hours in February 2023 and commissioning tests were completed in September 2023. The electricity produced is sold to Leroy Merlin through a 23 year corporate PPA. This is the first time in France that a new wind farm is backed by a Corporate PPA.
Voltalia reiterates its 2024 objectives:
Voltalia confirms its operational and financial targets for 2027:
Finally, as a Mission-driven company, Voltalia is pursuing its ambitions to strengthen its commitment to sustainable development with the following objectives:
Next meeting: Annual General Meeting , May 16, 2024
PROSPECTIVE STATEMENTS
This press release contains forward-looking statements. These statements are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. These forward-looking statements may often be identified by the words "expect", "anticipate", "believe", "intend", "estimate" or "plan", as well as by other similar words. Although Voltalia's management believes that these forward-looking statements are reasonable, investors are cautioned that forward-looking statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond Voltalia's control, that could cause actual results and events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, among others, the uncertainties inherent in the evolution of the selling price of electricity produced by Voltalia, the evolution of the regulatory environment in which Voltalia operates as well as the competitiveness of renewable energies and other factors that may affect the production capacity or profitability of Voltalia's production sites as well as those developed or identified in Voltalia's public filings with the Autorité des marchés financiers including those listed in section 2. 2 "Risk Factors" of Voltalia's 2023 Universal Registration Document filed with the Autorité des marchés financiers on April 12, 2024. Voltalia undertakes no obligation to update any forward-looking information or statements, except as required by law.
Capacity in operation as of March 31, 2024
Capacity under construction as of March 31, 2024
Power production as of March 31, 2024
"Normalised EBITDA" 2027 calculated with an average annual EUR/BRL exchange rate of 5.5 and wind, solar and hydro production corresponding to the long-term average.
April 2, 2024 press release.
First-generation revenues: revenues received prior to the implementation date of long-term power sales contracts. In the case of Karavasta, these higher-priced revenues under a first contract will last until August 2025, when the long-term contract begins.
74% of 2023 sales are contractually indexed to inflation.
April 8, 2024 press release.
April 15, 2024 press release.
Estimated "normalised EBITDA" on December 31, 2027 calculated with an average annual EUR/BRL exchange rate of 5.5 and wind, solar and hydro production corresponding to the long-term average.
April 8, 2024 press release.
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