Voltalia SA: Full year 2020 results: profitability improves
sharply, 2021 objectives achieved and 2023 ambitions confirmed,
long-term visibility reinforced
Full year 2020 results: profitability
improves sharply, 2021 objectives achievedand 2023
ambitions confirmed, long-term visibility reinforced
Strong increase of 2020 results despite the
context of sanitary crisis
- Growth of revenues (+33%), of the EBITDA (+50%) and of the net
profit, Group share (+71%)
2020 targets achieved
- Installed capacity of 1.015 gigawatt (+50%)
- 2.4 gigawatt-capacity serviced for third party clients (x5
compared with end 2019)
- Normalised1 EBITDA of €101.1 million
2021 target and 2023 ambitions confirmed
- Normalised2 2021 EBITDA target of €170 million
- 2023 capacity ambitions in operation and under construction,
already fully secured of 2.6 gigawatts, and a Normalised2 EBITDA of
€275-300 million
Robust financial structure and long-term
visibility reinforced
- Contained gearing ratio (55%) and substantial cash flows at the
end of 2020 (€220 million), reinforced by the Green Bond issued in
January 2021
- €6.5 billion of contracted future revenues (representing x28
the 2020 revenues)
- Pipeline of 9.7 GW at the end of 2020 (up by 24% compared
with 2019)
Voltalia (Euronext Paris, ISIN code:
FR0011995588), an international player in renewable energies,
announces today its full year 2020 results. Voltalia’s Board of
Directors, which met on March 24, 2021, approved the consolidated
financial statements for the 2020 fiscal year.
Voltalia will comment on its full year 2020
results and short to mid-term outlook during a live webcast
starting at 8:30 AM Paris time on March 25, 2021. Connection
details are available on Voltalia’s website:
https://www.voltalia.com/uk/investors.
« While 2020 was marked by a global
sanitary and economic crisis presenting multiple challenges, it has
been a very successful year for Voltalia. Our profitability
improved substantially, and we continued to secure future growth by
signing a record-high level of new power sales and services
agreements. Benefiting from the proven soundness of our
fundamentals, a project pipeline of 9.7 gigawatts and a robust
financial structure, we are all set to pursue on our strong
profitable growth path », commented Sébastien Clerc, Voltalia’s
CEO.
KEY FIGURES: GROWTH OF THE ACTIVITY,
INCREASE IN PROFITABILITY, EBITDA TARGET ACHIEVED
|
|
|
In € million |
2020 |
2019 |
Change At current exchange
rates |
Change At constant exchange
rates* |
Revenues |
233.5 |
175.5 |
+33% |
+55% |
EBITDA |
97.5 |
65.1 |
+50% |
+88% |
EBITDA margin |
41.7% |
37.1% |
+4.6 pts |
+8 pts |
Net profit, Group share |
7.9 |
4.6 |
+71% |
x3,7 |
* Average EUR/BRL exchange rate of 5.89 in 2020
vs 4.4 in 2019.
2020 revenues amount to €233.5 million, an
increase of +55% at constant exchange rates and of +33% at current
exchange rates. As announced previously, activity was driven by an
acceleration of new commissioning and the excellent momentum of
Services with third-party clients. The share of revenues outside
Brazil increased from 42% in 2019 to 52% in 2020.
Consolidated EBITDA stands at €97.5 million, a
+88% increase at constant exchange rates and +50% at current
exchange rates, thanks to the combined increase in profitability of
the Energy sales and of Services for third-party client businesses.
Fixed costs were also better amortised as a result of the Group’s
growth. This resulted in profitability increasing substantially:
the EBITDA margin amounts to 41.7% of revenues compared to 37.1% in
2019 (+4.6 points).
As in the first half of 2020, the second half of
the year was impacted by a negative resource effect, mainly related
to a below long-term average wind level in Brazil (-€3.6 million at
the group’s level in H2 2020). The 2020 normalised EBITDA stands at
€101.1 million, in line with the target set by the Group.
Net profit, Group share is €7.9 million,
multiplied by 3.7 at constant exchange rates and a +71% increase at
current exchange rates compared with the end of 2019.
BUSINESS REVIEW
Energy sales: EBITDA increases sharply
despite a lower wind resource in Brazil
Financial key figures |
|
|
|
In € millionBefore eliminations of services
provided internally |
2020 |
2019 |
Change At current exchange
rates |
Change At constant exchange
rates |
Revenues |
163.1 |
130.6 |
+25% |
+51% |
EBITDA |
100.9 |
76.1 |
+33% |
+62% |
EBITDA margin |
61.9% |
58.3% |
+3.6 pts |
+4 pts |
Operational indicators
|
2020 |
2019 |
Change |
Load Long-term average
(Voltalia) |
Factors3
Long-termaverage(national) |
Production (in GWh) |
2,756 |
2,117 |
+30% |
|
|
Installed capacity (in MW, closing date) |
1,015 |
678 |
+50% |
|
|
Wind load factor in Brazil |
44% |
49% |
-5% |
51% |
43%4 |
Wind load factor in France |
28% |
27% |
+1% |
25% |
25%5 |
Solar load factor in France |
17% |
19% |
-2% |
20% |
15%6 |
§ Strong revenue growth as a
result of the increase in installed capacity
Energy sales revenues amount to €163.1 million,
a +51% growth at constant exchange rates and +25% at current
exchange rates.
This increase primarily results from the growth
in installed capacity: at the end of 2020, it stands at
1,015 MW, slightly above the target of 1 GW that the Group had
set, thanks to the addition of 337 MW of new projects compared with
154 MW in 2019. This strong growth, achieved in a complex sanitary
context, is even more remarkable as some significant delays were
recorded on the construction and commissioning of several
projects.
The revenue growth also results from the
full-year effect of plants commissioned in the course of 2019, the
full-year consolidation of Helexia (acquired in the middle of 2019)
and from the consolidation of the solar plants acquired in Jordan
(four months in 2020).
With a 51% average in the long-term, the load
factor of Voltalia’s Brazilian wind turbines is higher than the
sector’s national average. This positive difference is also found
in the other countries where Voltalia operates and results from the
Group’s rigorous selectivity in choosing the sites to develop and
from the expertise of the maintenance teams, recognized by the
trust third-party clients place in Voltalia. However, the 2020
revenues growth was slowed down by the lower wind resource recorded
in Brazil which was below the long-term average as well as at the
2019 level.
§ EBITDA grows faster than
revenues
EBITDA from Energy sales is up close to €47
million in 2020 compared with the end of 2019 at constant exchange
rates and +€24.8 million at current exchange rates.
In both cases, the increase is faster than that
of revenues. As a consequence, the EBITDA margin increases by
3.6 points.
This improvement results from the quality of the
new plants commissioned, the receipt of liquidated damages
following delays in the commissioning of certain projects (€7.2
million) and efficient cost management particularly within Helexia
which recently integrated the Group. The 3.6-point increase in
EBITDA margin would have been significantly higher if the resource
(wind, solar, hydro) had been in line with the long-term average:
the resource deficit in 2020 compared with this average had a
negative impact of €11.1 million on the EBITDA of which
€7.5 million in the first half of 2020 and €3.6 million in the
second half.
Services: continued increase in the
contribution to the Group’s EBITDA
|
|
|
|
In € millionBefore eliminations of services
provided internally |
FY 2020 |
FY 2019 |
Change At current exchange
rates |
Change At constant exchange
rates |
Revenues |
136.5 |
144.2 |
-5% |
-1% |
Of which internal revenues |
66.1 |
98.5 |
-33% |
-31% |
Of which external revenues |
70.4 |
45.7 |
+54% |
+62% |
EBITDA |
11.6 |
11.7 |
-1% |
+20% |
EBITDA margin |
8.5% |
8.1% |
+0.4 pt |
+1.9 pts |
§ A +54% increase in external
Services revenues
2020 Services revenues, internal and external,
amount to a total of €136.5 million7. In the absence of new
high-contributing internal projects, intra-Group revenues
(eliminated in the consolidation) are down -33 % in 2020.
In contrast, revenues from Services to
third-party clients total €70,4 million, up +62% at constant
exchange rates and +54% at current exchange rates, highlighting the
excellent commercial momentum despite the economic and sanitary
crisis. The Services activity also contributed to the launch of
Voltalia as an independent power producer in two new countries in
2020, Albania and Jordan, where Voltalia’s teams were already
performing services for third-party clients.
Confirming the rise in external revenues, the
backlog for external clients at the end of 2020 is robust and
amounted to €157.8 million (i.e. 2.2 times the level of
external revenues in 2020).
.
§ Development, Construction and
Equipment Procurement
Development, Construction and Equipment
Procurement revenues total €114.2 million (-5% at constant exchange
rates and -9% at current exchange rates). They highlight a slowdown
of the internal activity and the rise of activity for third-party
clients, on each of the three activities of this business line. The
Group sold 180 MW of ready-to-build projects in Brazil and
France to emblematic partners such as the French Total-Eren and
Siloé Infrastructures or the Japanese Toda, while supplying
construction services for third-party clients mainly in Portugal,
Burundi and in Brazil (175 MW under construction as of today). This
significant level of activity generated a double-digit EBITDA
margin, in line with the Group’s expectations.
§ Operation and
Maintenance Operation & Maintenance revenues amount to
€22.4 million (+23.1% at constant exchange rates and +17.2% at
current exchange rates). They highlight the activity’s growth
internally and for third-party clients, including the contribution
of Greensolver which was acquired in 2020. Although improving
compared with 2019, the business line’s EBITDA margin remains below
breakeven, therefore slightly reducing the Services’ overall
profitability.
OTHER ITEMS OF THE INCOME STATEMENT:
+71 % INCREASE IN NET PROFIT, GROUP SHARE
|
|
|
Change |
In € million |
FY 2020 |
FY 2019 |
At actual rates |
At constant rates |
EBITDA before eliminations and
corporate |
112.6 |
87.9 |
+28% |
+56% |
Eliminations and corporate |
-15.1 |
-22.8 |
-33% |
-33% |
EBITDA |
97.5 |
65.1 |
+50% |
+88% |
Depreciation, amortisation, and provisions |
-53.6 |
-29.5 |
+82% |
+105% |
Operating revenue (EBIT) |
43.7 |
35.6 |
+23% |
+73% |
Financial result |
-32.7 |
-27.8 |
+18% |
+44% |
Taxes and net income of equity affiliates |
-3.8 |
-5.0 |
-25% |
+9% |
Minority interests |
0.7 |
1.8 |
-62% |
-48% |
Net profit (Group share) |
7.9 |
4.6 |
+71% |
x3.7 |
Eliminations are down with internal activity
declining in favour of increased sales to external customers. The
contribution of Services to the consolidated EBITDA is up.
Moreover, thanks to efficient cost management, corporate costs are
down even though the activity increases.
The consolidated EBITDA amounts to €97.5
million, up +50% compared with 2019.The increase in EBITDA, which
is faster than that of revenues, translates into a significant
improvement in profitability, with the EBITDA margin representing
41.7% of revenues compared with 37.1% in 2019
(+4.6 points).
Depreciation, amortisation, and provisions stand
at €53.6 million, up +82%, as a result of the amortisation of
plants commissioned in 2020, the full year impact of plants
commissioned in 2019 and the full year consolidation of Helexia.
The financial result stands at €32.7 million,
with financial costs up +18%. They highlight the rise of project
financing (projects in operation) and the full-year consolidation
of Helexia. However, this rise is limited by i) the parallel
depreciation of the Brazilian real against the euro and the
decrease of Brazilian interest rates ii) an optimization of
Helexia’s financial charges thanks to its integration into the
Group.
Minority interests and taxes are down, and the
net profit, Group share, stands at €7.9 million. It was multiplied
by 3.7 at constant exchange rates and is up +71% at current
exchange rates.
SIMPLIFIED CONSOLIDATED BALANCE
SHEET
Voltalia’s balance sheet at the end of 2020
totals €1.8 billion, a +34% growth at constant exchange rates and
+13% after taking into account the depreciation of the Brazilian
Real which stood at 6.37 BRL/EUR at the end of 2020 compared with
4.51 BRL/EUR as of December 31, 2019.
In € million |
31/12/2020 |
31/12/2019 |
Goodwill |
80.2 |
86.5 |
Tangible and intangible fixed assets |
1 273.5 |
1 066.6 |
Cash and cash equivalents |
220.1 |
269.7 |
Other assets |
205.1 |
155.0 |
Total assets |
1 778.9 |
1 577.8 |
Equity, Group share |
696.2 |
783.2 |
Financial debt |
839.3 |
656.2 |
Other current and non-current liabilities |
243.4 |
138.4 |
Total liabilities |
1 778.9 |
1 577.8 |
The increase in the Group’s assets is
essentially related to the growth of the portfolio of plants in
operation and under construction, with assets up +19.4%. This
growth would have been significantly higher without the
depreciation of the Brazilian real against the euro.
The Group’s cash position at the end of 2020
stands at €220 million. This high level is to be compared with a
total financial debt of €839 million at the end of 2020, a limited
increase of +28% as a result of the Fx translation impact, the debt
of Voltalia’s Brazilian plants being denominated in Brazilian Real.
The gearing ratio8 remains low, at 55%.
With a very healthy financial position as of
December 31, 2020 and taking into account the €200 million green
bond issuance achieved at very attractive conditions in January
2021, the Group is in a strong position to pursue on its profitable
and high growth journey.
RECENT DEVELOPMENTS SINCE END OF JANUARY
2021
Green financing
Early January, Voltalia successfully launched
its new green and sustainability-linked financing framework, with
an inaugural green convertible bond issuance of €200 million.
Largely oversubscribed, this issuance was made at very favourable
conditions both for Voltalia and its existing shareholders9. The
proceeds will be used for the financing or refinancing of Voltalia
projects, including potential acquisitions.
New construction and commissioning
In February 2021, Voltalia launched the
construction of Canudos 1, a 99.4 megawatts wind project
located in Brazil in Voltalia’s Canudos cluster which has a total
estimated potential of 1 gigawatt. A long-term power sales
agreement, for a duration of 20 years, was signed with Brazilian
utilities CEMIG. The wind plant will be equipped with 28 turbines
G132 – 3.55MW supplied by Siemens-Gamesa. The wind farm is expected
to be fully commissioned in the first half of 2022.
On March 17, 2021, Voltalia announced the
commissioning of Cabanon, its first agrivoltaic plant. Located in
the South of France Region the 3-megawatt plant which construction
started at the end of the second quarter of 2020, combines
agriculture and the production of electricity from solar
photovoltaics on the same land of 4.5 hectares. The vegetable
crops are planted under the solar panels which lay on specific
structures. The project benefited from a participatory funding and
€700,000 were collected.
Growing contracted future revenues: +31% at €6.5
billion
The Group’s long-term visibility improved again
with future revenues secured by contracts amounting to
€6.5 billion, i.e. 28 times the 2020 revenues. This
particularly high-level results from Voltalia’s strategy which is
focused on signing very long-term contracts covering the entire
production of the Group’s portfolio of plants.
An expanding portfolio of project under
development: +24% at 9.7 gigawatts
Voltalia’s portfolio of projects under
development, to be kept or sold with construction and maintenance
services amounted to 9.7 gigawatts at the end of 2020, i.e. adding
close to 2 gigawatts compared with the end of 2019. Highlighting
the technological and geographic diversification conducted by the
Group, the portfolio of projects is broken down respectively as
follows: 54.7% in Latin America, 34.1% in Europe and 11.2% in
Africa. Representing 61% of projects under development, solar is
dominant, followed by wind (36.1%) and other technologies
(2.9%).
2021 TARGET AND 2023 AMBITIONS
CONFIRMED
In 2021, thanks to the contribution of the 1 GW
portfolio of operating plants, the commissioning of new power
plants and the continued increase in Services for third-party
clients, Voltalia confirms its normalised EBITDA is expected to
reach around €170 million.
Voltalia also confirms its 2.6 GW capacity
ambition in operation and under construction by the end of 2023
which is secured by the GW of installed capacity at the end of 2020
and the power sales agreements signed in 2020 for an additional 1
GW. In 2023, the normalised EBITDA is expected to reach
€275-300 million.
|
2021 |
2023 |
Capacity |
- |
2.6 GW in operation or construction |
Normalised EBITDA |
~€170 million |
€275-300 million |
” Normalised”: with an average wind, solar and hydraulic resource
equals to the very long-term average and an average annual EUR/BRL
exchange rate of 6.3 |
ANNUAL GENERAL MEETING
The Board of Directors approved the draft
resolutions that will be submitted for Voltalia’s Annual
Shareholders’ Meeting which will take place on May 19, 2021.
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 31 December
2020
In MW |
Wind |
Solar |
Biomass |
Hydro |
Hybrid* |
31 December 2020 |
31 December 2019 |
Brazil |
665.5 |
|
|
|
16.0 |
681.5 |
464.3 |
Egypt |
|
32.0 |
|
|
|
32.0 |
32.0 |
Jordan |
|
57.0 |
|
|
|
57.0 |
|
France |
74.2** |
87.6 |
|
4.5 |
|
166.3 |
129.4 |
French
Guiana |
|
17.1 |
7.2 |
5.4 |
|
29.7 |
13.3 |
Greece |
|
4.7 |
|
|
|
4.7 |
4.7 |
United
Kingdom |
|
7.3 |
|
|
|
7.3 |
7.3 |
Portugal |
|
8.8 |
|
|
|
8.8 |
4.7 |
Italy |
|
10.2 |
|
|
|
10.2 |
8.1 |
Belgium |
|
11.6 |
|
|
|
11.6 |
11.3 |
Spain |
|
6.4 |
|
|
|
6.4 |
2.7 |
Total |
739.7 |
242.7 |
7.2 |
9.9 |
16.0 |
1 015.5 |
677.8 |
*4 MW of solar and 12 MW thermal**Including
Adriers (10 MW) sold on 31.12.2020
Electricity production
report
(in GWh) |
|
Wind |
Solar |
Biomass |
Hydro |
Hybrid* |
Total 2020 |
Total 2019 |
Brazil |
|
2,272.4 |
|
|
|
45.1 |
2,317.5 |
1,833.1 |
Egypt |
|
|
76.5 |
|
|
|
76.5 |
12.7 |
Jordan |
|
|
|
|
|
|
33.8 |
|
France |
|
134.1 |
101.2 |
|
6.4 |
|
241.6 |
199.2 |
French Guiana |
|
|
4.3 |
8.9 |
19.6 |
|
32.8 |
32.5 |
Greece |
|
|
7.2 |
|
|
|
7.2 |
7.1 |
United Kingdom |
|
|
8.7 |
|
|
|
8.7 |
7.8 |
Portugal |
|
|
7.3 |
|
|
|
7.3 |
6.2 |
Italy |
|
|
14.0 |
|
|
|
14.0 |
8.8 |
Belgium |
|
|
12.0 |
|
|
|
12.0 |
10.1 |
Spain |
|
|
5.0 |
|
|
|
5.0 |
|
Total |
|
2,406.5 |
249.8 |
8.9 |
25.9 |
45.1 |
2,756.4 |
2,117.4 |
*Includes the production of Oiapoque solar
Consolidated income statement
(unaudited)
In € thousand |
At 31 December 2020 |
At 31 December 2019 |
|
Change % |
Revenues |
233 457 |
175 479 |
57 988 |
33% |
Purchases and sub-contracting |
(31 749) |
(9 574) |
(22 175) |
232% |
External expenses |
(70 759) |
(67404) |
(3 355) |
5% |
Payroll expenses |
(33 828) |
(30 665) |
(3 163) |
10% |
Other operating income and expenses |
343 |
(2732) |
3 075 |
(113)% |
Total operating expenses |
(135 993) |
(110 375) |
(25 618) |
23% |
EBITDA |
97 464 |
65 094 |
32 370 |
50% |
%
EBITDA |
42% |
37% |
5% |
13% |
Other
financial income and expenses |
(7 116) |
(472) |
(6 644) |
1 408% |
Allocations and reversals of depreciation, amortisation and
provisions |
(46 602) |
(28 986) |
(17 616) |
61% |
Operating revenue (EBIT) |
43 746 |
35 636 |
8 110 |
23% |
%
EBIT |
19% |
20% |
(2)% |
(8)% |
Borrowing costs |
(31 408) |
(33 837) |
2 429 |
(7)% |
Other
financial income and expenses |
(1 336) |
6 019 |
(7 355) |
(122)% |
Income tax and other taxes |
(3 603) |
(4 971) |
1 368 |
(28)% |
Income from companies at equity |
(162) |
(51) |
(111) |
218% |
Net profit (loss) |
7 237 |
2 796 |
4 441 |
159% |
% Net profit (loss) |
3% |
2% |
2% |
95% |
Group Share |
7 924 |
4 624 |
3 300 |
71% |
Minority interests |
(687) |
(1 828) |
1 141 |
(62)% |
Earnings per share, Group share (in euros): |
|
|
|
|
Before dilution |
0,0834 |
0.0669 |
0,0165 |
25% |
After dilution |
0,0830 |
0.0664 |
0,0166 |
25% |
Consolidated balance sheet
10(unaudited)
In € thousand |
At 31 December 2020 |
At 31 December 2019 |
Change |
% |
Goodwill |
80 155 |
86 472 |
(6 317) |
(7)% |
Right of use |
45 316 |
40 400 |
4 916 |
12% |
Intangible assets in progress |
154 889 |
128 559 |
26 330 |
20% |
Property, plant and equipment |
1 073 263 |
897 638 |
175 625 |
20% |
Equity affiliates |
2 196 |
3 048 |
(852) |
(28)% |
Financial assets |
16 156 |
21 593 |
(5 437) |
(25)% |
Deferred tax assets |
3 899 |
2 360 |
1 539 |
65% |
Non-current assets |
1 376 023 |
1 180 070 |
195 953 |
17% |
Inventories and work in progress |
41 252 |
40 951 |
301 |
1% |
Due from customers |
7 696 |
1 343 |
6 353 |
473% |
Trade receivables |
95 552 |
58 669 |
36 883 |
63% |
Financial assets |
6 283 |
5 079 |
1 204 |
24% |
Other current assets |
31 924 |
21 975 |
9 949 |
45% |
Cash and net cash equivalents |
220 121 |
269 744 |
(49 623) |
(18)% |
Current assets |
402 828 |
397 761 |
5 067 |
1% |
Total Assets |
1 778 851 |
1 577 831 |
201 020 |
13% |
Equity, Group share |
640 375 |
731 913 |
(91 538) |
(13)% |
Non-controlling interests |
55 820 |
51 310 |
4 510 |
9% |
Equity |
696 195 |
783 223 |
(87 028) |
(11)% |
Non-current provisions |
4 827 |
3 431 |
1 396 |
41% |
Provisions for post-employment benefits |
1 378 |
1 172 |
206 |
18% |
Deferred tax liabilities |
16 015 |
2 687 |
13 328 |
496% |
Long-term borrowings |
703 974 |
592 561 |
111 413 |
19% |
Financial liabilities |
14 614 |
9 239 |
5 375 |
58% |
Non-current liabilities |
740 808 |
609 090 |
131 718 |
22% |
Current provision |
6 163 |
6 374 |
(211) |
(3)% |
Short-term borrowings |
135 311 |
63 675 |
71 636 |
113% |
Due to customers |
13 443 |
1 439 |
12 004 |
834% |
Trade payables and other payables |
127 007 |
75 962 |
51 045 |
67% |
Financial liabilities |
26 138 |
15 866 |
10 272 |
65% |
Other current liabilities |
33 786 |
22 202 |
11 584 |
52% |
Current liabilities |
341 848 |
185 518 |
156 330 |
84% |
Total Liabilities |
1 778 851 |
1 577 831 |
201 020 |
13% |
Next on the agenda: 2021 Q1
revenues on April 21, 2021 (after market close)
About Voltalia (www.voltalia.com) |
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 1.4 GW and a portfolio of projects under
development representing total capacity of 9.7 GW. 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 more than 1,000 employees and is present
in 20 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. |
VoltaliaInvestor Relations: invest@voltalia.comT. +33 (0)1 81 70 37
00 |
ActifinPress Contact: Jennifer Julliajjullia@actifin.fr
. T. +33 (0)1 56 88 11 11 |
1 In September 2020, Voltalia announced a
revised 2020 EBITDA target of around €100 million on a normalised
basis: i.e., an average wind/solar/hydro resource in the second
half of 2020 and a EUR/BRL rate of 6.3 as from September 24, 2020
(and an average annual EUR/BRL rate of 5.9). 2
“Normalised” means calculated with an average annual EUR/BRL
exchange rate of 6.3 and a long-term average wind, solar and
hydraulic resource.3 Power actually generated / power that would be
generated if the plants produced 100% of the time and 100% of their
capacity4 Source: Global Wind Energy Council 2019 5 Source:
RTE 20196 Source: RTE 20207 This figure which is a revision of the
figure published on January 26, 2021, integrates a €10.7 million
reclassification in deduction of operating expenses (with no impact
on EBITDA and cash)8 Financial Debt / (Equity + Financial Debt)9
See press release dated January 6, 202110 As of December 31, 2019,
"Goodwill" and "Equity - Group share" were re-estimated by €23,015
thousand in order to best reflect the fair value paid in connection
with the acquisition of Helexia.
- 210325- Voltalia FY2020 results - VENG DEF
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