Voltalia sets new ambitions for 2027
Operational ambitions
- Operating and
construction capacity owned by Voltalia: more than 5 gigawatts by
the end of 2027
- Capacity operated on
behalf of third parties: over 8 gigawatts by the end of 2027
Financial
ambitions
- Normalised
EBITDA1 : approximately €475¹ million in 2027
Environmental ambitions
- CO2-equivalent
avoided: over 4 million tonnes in 2027
Voltalia (Euronext Paris, ISIN code:
FR0011995588), an international player in
the renewable
energy sector, unveils
its new strategic ambitions for 2027 at an investor presentation
held today in Paris.
Voltalia will present
its new ambitions during a presentation in English today at 8.30am
Paris time, which will be broadcast live via webcast. Full login
details and presentation materials are available at:
https://www.voltalia.com/investor-relations
"The growth of renewable energy is accelerating.
A key element in the fight against global warming, renewable energy
has also become the cheapest energy ever produced in history, while
meeting the energy security challenges of countries and
companies.
By creating new renewable power plants on its
own behalf and for its customers, while reducing their energy
consumption through its subsidiary Helexia, Voltalia is helping to
meet the challenge of the energy transition.
After achieving an average annual growth in
revenues of 46% between 2014, the date of its IPO, and 2021,
Voltalia has set itself a new roadmap. While we anticipate that the
2023 capacity target will be reached a year early and confirm the
EBITDA target of €275-300 million in 2023, Voltalia is now
targeting operating and construction capacity in excess of 5
gigawatts and a normalised EBITDA of around €475 million¹ by 2027.
In addition, in line with its status as a company with a mission,
Voltalia has set a new environmental objective for 2027: over 4
million tonnes of CO2-equivalent avoided”, commented Sébastien
Clerc, CEO of Voltalia.
An extraordinary sector
Numerous structural and economic factors are
sustaining the renewable energy sector:
- Public policies and
private initiatives against global
warming;
- Intensification of
government measures to promote energy
independence;
- Trend towards lower
costs for renewable energy in a context of rising
costs for other energy sources;
- Willingness of
companies to reduce their exposure to the
volatility of energy prices in the long term and
to lower their energy bills;
- Rise in the
electrification of uses with, for example, the
emergence of electric vehicles and the gradual switch to electric
heating.
However, the sector's growth cycle is
still in its infancy, and the share of renewable energy in
the global energy mix should continue to accelerate over the next
few years.
On the three continents where Voltalia is
present:
- In
Europe, which is already committed to the
fight against global warming, the war in Ukraine
has made energy independence a central priority of
government policies. A sudden and sustained acceleration in
renewable energy and energy efficiency is taking shape: Europe is
once again becoming one of the key global markets;
- In
Africa, the market remains dynamic due to strong
growth in electricity consumption. South Africa,
in particular, is going through a major energy crisis. The growth
in demand is combined with the country's need to replace ageing
coal-fired power plants that are no longer adapted to the needs of
the population;
- In Latin
America, population growth is creating structural demand
for energy consumption. In addition, Brazil's extremely favourable
wind patterns, coupled with good sunshine, will gradually attract
electro-intensive industries.
A clear mission, a successful business
model
Voltalia has been aware of the challenges facing
its sector since its creation in 2005. As a responsible player,
Voltalia formally defined its mission in 2014,
before officially integrating it in its articles of association in
20202. Within this legal framework, Voltalia defines the
extra-financial indicators of its mission. These
are audited and presented annually to the general meeting,
alongside the financial report. Voltalia’s mission seeks a fair
balance between the planet and its inhabitants: improving
the global environment while promoting local development.
Every day, it guides the actions and decisions of everyone within
Voltalia and its governance.
Voltalia, directly or through its subsidiaries,
implements the energy transition technologies that create the best
opportunities:
- Electricity
production: ground-mounted photovoltaic,
roof-mounted and car park, onshore wind power,
small-scale hydroelectricity and
biomass (power plants burning recovered
wood);
-
Battery storage and potentially other
technologies;
- Energy
efficiency and energy management.
Voltalia has deployed a business
model that combines the business of a renewable energy
producer through its own power plants with that of
service provider to third-party customers.
Voltalia's employees who, on behalf of customers, create energy
production or savings projects from scratch during the development
and construction phases, and then operate and maintain them. This
model for itself and third-party customers has the most significant
impact on its mission while creating the most financial value.
As the services business is not very capital
intensive, electricity production and storage account for the vast
majority of Voltalia's capital. In this business, Voltalia relies
on very long-term electricity sales contracts
(generally 20 years) which are designed to ensure the repayment of
project financing and to secure equity investments. The contractual
sales prices are mostly (83% in 2021) indexed to
inflation.
A strong growth trajectory since its IPO
on Euronext
Since its IPO, Voltalia has posted an average
annual growth (CAGR) of +46% in
revenues and
+41% in EBITDA
between 2014 and 2021. Over the period, the capacity in operation
and under construction has increased more than fourfold, from 365
MW to 1.7 GW in 2021. Voltalia also announced on the occasion of
the publication of its half-yearly results for 2022 that its target
of 2.6 GW of capacity in operation and under construction, which it
planned to achieve by the end of 2023, would finally be reached by
the end of 2022, one year ahead of schedule.
This growth trajectory, essentially organic, has
benefited from targeted acquisitions which have accelerated the
strategy, in particular that of Helexia which offers its client
companies, in parallel with Voltalia's corporate PPA offer, on-site
solar production ( roofs and car park shades) and investments to
reduce their energy consumption.
New growth ambitions for
2027
On 28 September, during the publication of its
half-year results for 2022, Voltalia indicated that it believed
that it would be able to achieve its 2023 target of 2.6
gigawatts of capacity in operation and under construction
one year ahead of schedule and that it was
confirming its two other 2023 targets: a normalised EBITDA of €275
to €300 million and a share of Brazil in capacity in operation and
under construction below 50%.
In this context, Voltalia has defined a new
growth plan for 2027, including the following objectives:
- Operating and
construction capacity owned by Voltalia: over 5
gigawatts by the end of 2027;
- Capacity operated on
behalf of third parties: over 8 gigawatts by the
end of 2027;
- Normalised EBITDA3:
around €475 million in 2027;
- CO2-equivalent
avoided: over 4 million tonnes in
2027.
Voltalia will examine the best options for
financing its CAPEX of between an estimated €2.5 and €3 billion to
support its new ambitions by 2027. In addition to the usual project
financing and its significant cash flow, the group reserves the
right to raise corporate financing, to selectively sell minority
shares to partners in some of its projects or to arrange equity
financing, depending on market conditions and, where appropriate,
involving all of its existing shareholders, including its main
shareholder, the Mulliez family.
Solid assets to achieve its
ambitions
Voltalia will be able to draw on a number of
strengths to achieve this ambitious growth plan up to 2027,
including:
- A portfolio
of projects under development at a record level of 13.6
GW, of which 986 MW have won a PPA and 1.8 GW are ready to tender
for a PPA;
- The gain, since
January 2022, of new long-term electricity sales
contracts for 640 MW;
- A volume of
projects in the early stages of development (which meet
one, two or three of the four criteria required to enter the
development portfolio4) of 22.1 GW;
- Ability to sell and
implement the full range of products offered to
businesses: corporate wind and solar PPAs, photovoltaic
roofs and shades and energy efficiency;
- Expertise in
Development, Construction and Supply of equipment and
Operation-Maintenance services to third party
clients;
- Expertise in the
key technologies of the energy transition, in
particular those currently experiencing strong growth:
photovoltaics, storage and energy efficiency;
- A
geographical positioning focused on countries
where the sector's growth potential is among the highest in the
world;
- The ability to make
acquisitions, integrate them and then rapidly
develop the acquired entities;
- A track
record of strong growth management with revenue and EBITDA
growing at CAGR since the IPO on the Euronext regulated market in
2014, of 46% and 41% respectively over the period 2014-2021.
Disclaimer
This press release and the information contained
herein do not constitute either an offer to sell or purchase or the
solicitation of an offer to sell or purchase the securities of
Voltalia.
The release, publication or distribution of this
press release may be restricted in certain countries by applicable
laws and regulations. Persons who are physically located in those
jurisdictions in which this press release is released, published or
distributed must inform themselves about and observe such
restrictions.
This announcement is an advertisement and not a
prospectus within the meaning of Regulation (EU) 2017/1129 of the
European Parliament and of the Council of 14 June 2017, as amended
(the “Prospectus Regulation”).
This press release and the information contained
herein do not constitute or form part of, and should not be
construed as an offer to sell or purchase, or a solicitation or an
invitation of an offer to sell or purchase, securities of Voltalia
in France, Europe or the United States or in any other
jurisdiction. The Voltalia securities have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the
“U.S. Securities Act”) and may not be offered or sold in the United
States, directly or indirectly, absent registration or pursuant to
an exemption from, or in a transaction not subject to, the
registration requirements under the U.S. Securities Act
Forward-looking statements
This press release contains certain
forward-looking statements about Voltalia and its subsidiaries.
These statements include financial projections and estimates and
their underlying assumptions, statements regarding plans,
objectives, intentions and anticipated results as well as events,
operations, future services or product development and potential or
future performance. Forward-looking statements are generally
identified by the words “expects”, “anticipates”, “believes”,
“intends”, “estimates”, “anticipates”, “projects”, “seeks”,
“endeavors”, “strives”, “aims”, “hopes”, “plans”, “may”, “goal”,
“objective”, “projection”, “outlook” and similar expressions.
Although the management of Voltalia believes that these
forward-looking statements are reasonably made, investors and
holders of the Group’s securities are cautioned that these
forward-looking statements are subject to a number of known and
unknown risks, uncertainties and other factors, a large number of
which are difficult to predict and generally outside the control of
Voltalia, 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. These risks and uncertainties include
those developed or identified in any public documents filed by
Voltalia with the French financial markets authority (the Autorité
des marchés financiers – the “AMF”) made or to be made by the
Group, in particular those described in Chapter 2 “Risk factors and
risk management” of the 2021 Universal Registration Document filed
with the AMF on May 2, 2022 and Chapter 5 “Main risk and trends” of
the 2022 half-year financial report. These forward-looking
statements are given only as of the date of this press release and
Voltalia expressly declines any obligation or commitment to publish
updates or corrections of the forward-looking statements included
in this press release in order to reflect any change affecting the
forecasts or events, conditions or circumstances on which these
forward-looking statements are based. Any information relating to
past performance contained herein is not a guarantee of future
performance. Nothing herein should be construed as an investment
recommendation or as legal, tax, investment or accounting
advice.
Next on the agenda: Q4
2022 revenues, on January 25, 2023 (after market
closing)
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 2.4 GW and a portfolio of projects under
development representing total capacity of 13.6 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. With more than 1,450
employees in 20 countries on 4 continents, Voltalia has the
capacity to act globally for its customersVoltalia is listed on the
regulated market of Euronext Paris, compartment B (FR0011995588 –
VLTSA) and is part of the EnterNext Tech 40, CAC Mid & Small
indices and Euronext Tech Leaders. 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 The "normalised EBITDA" estimated on December 31,
2027 is calculated with an average annual EUR/BRL exchange rate of
5.5 and a wind, solar and hydro resource corresponding to the
long-term average.2 PACTE Law, which created the status of
mission-oriented company. Voltalia was the first company in its
sector and the third company listed on the Euronext regulated
market to become a "mission company". The status of
mission-oriented company was approved by 99.98% of the shareholders
at the general meeting on May 19, 2021.3 The "normalised EBITDA"
estimated on December 31, 2027 is calculated with an average annual
EUR/BRL exchange rate of 5.5 and a wind, solar and hydro resource
corresponding to the long-term average.4 The four criteria for
pipeline inclusion are: land access, licensing permits ongoing,
feasibility of connection to the grid and project profitability
requirement.
- Voltalia sets new ambitions for 2027
Voltalia (EU:VLTSA)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Voltalia (EU:VLTSA)
Historical Stock Chart
Von Jul 2023 bis Jul 2024