Albioma revenues down 4% y/y in Q1 2021

French renewable power producer Albioma SA (EPA:ABIO) booked revenues of EUR 126.0 million (USD 152m), down 4% on the year, in the first quarter of 2021.

The revenue decline was mainly owed to the shut-down of several plants for scheduled maintenance, which amounted to 146 days of unit outages in this first quarter compared to 31 days a year prior. There were also unplanned technical shut-downs at a plant on Reunion Island, the group said.

Albioma’s first quarter revenue figures are presented in the table below:

The company produced 29 GWh of power from solar farms in January through March, compared to 27 GWh in the same period last year. It said it had spent the past three months working on the development and construction of new solar projects across all regions, after winning 40 MWp of projects last year. These plants will be commissioned in 2021 and 2022.

In January, Albioma acquired a geothermal power plant in Turkey, which produced 13.5 GWh during the reporting period. The production from plant was stable compared to the same time last year and in line with expectations, according to the company.

In the thermal biomass area, Albioma continued its work to convert the plants to all biomass.

For 2021, Albioma maintains its EBITDA target of between EUR 206 million and EUR 216 million. Net income, attributable to the group, is seen ranging between EUR 53 million and EUR 59 million.

(EUR 1.0 = USD 1.207)

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