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+68% to 87 million euros

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Q2 2021 revenues: +68% to 87 million euros

Continued strong growth in the second quarter

  • Energy sales: +62%. Increased installed capacity and good resource levels in Brazil compared to Q2 2020

  • Services to third-party clients: +79%. Dynamic Development and Construction activity mainly in France, Portugal and Greece

  • The second quarter confirms the momentum of the first quarter, with cumulative revenues during the first half of the year up by +70%.

Short and medium term objectives and ambitions reiterated

Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player in renewable energies, announces today its revenues for the second quarter and first half of 2021.

“In line with the first quarter of 2021, we have achieved another quarter, benefiting both from a better level of resources compared to the same period last year and from the very strong growth of our installed base, which now stands at almost 1.3 gigawatts. Although there are still challenges ahead, particularly with regard to the health situation, which has not yet stabilised, this good level of revenue and the seasonality inherent in our business mean that we can once again confirm our 2021 objectives and 2023 ambitions,” commented Sébastien Clerc, Voltalia’s CEO.

Revenues for the second quarter and first half of 2021

In million

Q2 2021 2

Q2 2020

Change at current rates

Change at constant rates 3

H1 2021

H1 2020

Change at current rates

Change at constant rates*

Energy sales

52.4

32.3

+62%

+70%

92.8

62.5

+49%

+66%

Services

64.2

29.2

+120%

+121%

93.5

50.4

+86%

+88%

Eliminations 4

-29.5

-9.9

+200%

+205%

-35.4

-24.2

+46%

+51%

Consolidated revenues

87.0

51.7

+68%

+73%

150.9

88.7

+70%

+83%

*The average EUR/BRL exchange rate at which revenues for the first half of 2021 have been determined is 6.49.

BUSINESS REVIEW

Q2 2021 consolidated revenues amount to 87.0 million euros, up +68% at current exchange rates and +73% at constant exchange rates. H1 2021 consolidated revenues amount to 150.9 million euros, up +70% at current exchange rates and +83% at constant exchange rates. Energy sales, which amount to 92.8 million euros, and Services, which amount to 93.5 million euros, of which 58.1 million euros for external revenues alone, contributed 61% and 39% respectively to the consolidated revenues for the half year. Revenues outside Brazil accounted for 67% of total consolidated revenues for the period.

ENERGY SALES

Operational indicators: strong production growth due to better resource in Brazil and strong growth in installed capacity

Q2 2021

Q2 2020

Variation

H1 2021

H1 2020

Variation

Production (in GWh)

827

513

+61%

1,622

915

+77%

Installed capacity (in MW, end of period)

1,265

820

+54%

Wind load factor in Brazil 5

38%

32%

+6pts

42%

31%

+11pts

Wind load factor in France5

22%

23%

-1pt

25%

31%

-6pts

Solar load factor in France5

22%

23%

1pt

17%

18%

-1pt

Revenues for H1 2021 reached 92.8 million euros, up +49% at current exchange rates, driven by a better level of resources compared to the same period of the year – with wind in Brazil being close to the long-term average wind level, whereas Q1 2020 had seen significantly below average – and by the increase in installed capacity in operation in the different regions. This reached 1,265 MW at the end of June 2021. Growth at constant exchange rates was +66%, reflecting a Brazilian real still weak against the euro, in the wake of the global health and economic crisis, although gradually improving since the beginning of the year. The average EUR/BRL rate was 6.49 in H1 2021, compared to 5.4 in H1 2020.

Q2 2021 revenues reached 52.4 million euros, up +62% at current exchange rates compared to Q2 2020 and +70% at constant exchange rates.

By country :

  • In Brazil, production increased by +64%. This growth was driven both by the +23% increase in production at the historical plants (including VSM 1, which was fully connected to the grid during Q2 2020) and by the connection of the new plants: mainly VSM2, connected during H2 2020, and to a lesser extent by VSM 3 and 4, which were commissioned at the end of Q1 2021 and Q2 2021, respectively, and which fully contributed to the Group’s production at the end of June 2021;

  • In France, the slight decrease in wind resources was largely offset by the increase in installed capacity, whether in wind (Sarry), solar (Jonquières and Cabanon) or biomass (Cacao);

  • In the other countries (United Kingdom, Belgium, Portugal, Spain, Italy, Greece, Jordan, Egypt), Voltalia benefited from a constant level of irradiation as well as the new and significant contribution of the Jordanian plants acquired in the third quarter of 2020.

SERVICES

H1 2021 total Services revenues (internal and external) amount to 93.5 million euros, up +86% at current exchange rates and +88% at constant exchange rates. This high level of both external and internal revenues reflects the intensity of the construction activity. External revenues on behalf of third parties increased by +121% to 58.1 million euros.

Q2 2021 revenues (internal and external) reached 64.2 million euros, up +120% at current exchange rates and +121% at constant exchange rates compared to Q2 2020:

  • Total Development and Construction revenues reached 57.1 million euros, up +143% at current rates compared to Q2 2020. In line with Q1 2021, Voltalia recorded strong construction activity for third-party clients projects in France, Portugal and Greece. In Q2 2021, almost 200 MW were under construction for third-party clients. Internal activity also increased strongly, mainly reflecting the completion of the Cacao biomass plant in French Guiana and the start of construction of the Hallen SSEB storage plant in…



Read More: +68% to 87 million euros

2021-07-21 16:20:00

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