France's Voltalia enjoys growing revenues in Q2 2022

First turbines commissioned at the VSM wind farms

Renewable power plants operator Voltalia SA (EPA:VLTSA) lifted its second-quarter revenues by 26% on the year to EUR 111 million (USD 113.6m), mostly helped by strong sales to third-party customers.

"Voltalia continued to grow at a rapid pace in the second quarter with strong sales of services to third-party customers and the contractual indexation of electricity sales prices to inflation,” CEO Sebastien Clerc said on Wednesday.

Voltalia closed the second quarter of 2022 with services revenues that were 36% higher than in the year-ago period as both revenues from third-party clients and internal revenues rose. More specifically, revenues from project development improved after Voltalia sold several under-development projects to third parties, while construction revenues benefitted from strong activity in the UK, Portugal and Kenya. Revenues from the operation and maintenance of power plants slipped by 4%.

Energy sales brought revenues that were 8% higher than a year back, albeit the decreased power output and the slight drop in installed capacity.

The table below gives more details about the company’s results.

In EUR million	Q2 2022	Q2 2021	Change	Change at constant currency	H1 2022	H1 2021	Change	Change at constant currency
Consolidated revenues	111	88.2	+26%	+19%	209.3	152.1	+38%	+31%
-- Energy sales	52.6	48.9	+8%	-3%	95.7	87.9	+9%	-1%
-- Services	94.3	69.1	+36%	+34%	162	99.9	+62%	+59%
Eliminations (services for own plants)	-36.0	-29.9	+20%	+17%	-48.4	-35.8	+35%	+32%
Production (GWh)	630	827	-24%	--	1,309	1,623	-19%	--

At the end of June, Voltalia had 1,226 MW of installed wind, solar, hydro and biomass energy capacity against 1,265 MW a year earlier. The bulk of the capacity, totalling 821 MW, comes from wind farms in Brazil. Some 917 MW of projects were under construction.

The French firm aims to reach 2.6 GW of operational and under-construction capacity by the end of 2023.

(EUR 1.0 = USD 1.024)

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