Boralex's attributable loss expands in Q2 2015

Wind farm in southern France. Author: harmishhk. License: Creative Commons, Attribution-ShareAlike 2.0 Generic

Canadian renewables developer Boralex Inc (TSE:BLX) said today its net loss attributable to shareholders has widened to CAD 5 million (USD 3.8m/EUR 3.5m) in the second quarter of 2015 from CAD 4.3 million a year earlier.

Boralex’ other financial figures, including revenues and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), improved. This was due to contribution from the French assets the company acquired in December, the commissioning of wind farms in North America, better wind conditions in Canada and France, as well as the strengthening of the US dollar, it said.

The table below provides more details about Boralex’s Q2 2015 performance.

Figures in CAD	Q2 2015	Q2 2014
Production (GWh)	524.7	407.8
Revenues from energy sales	58.2 million	43.8 million
EBITDA	35.9 million	23.5 million
EBITDA margin	61.8%	53.7%
Net loss attributable to stockholders	5 million	4.3 million

The company said it will focus on the development of almost 300 MW of wind projects in France, while also pursuing a number of opportunities in North America. Its goal is to achieve an annual compound growth in its installed capacity of some 10% for the period 2015-2020.

(CAD 1.0 = USD 0.761/EUR 0.699)

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