Futuren's H1 profit grow on higher sales, new capacities

Magremont wind farm by Futuren. All rights reserved.

September 13 (Renewables Now) - French wind power producer Futuren SA (EPA:FTRN) closed the first half of 2019 with a net consolidated profit of EUR 3 million (USD 3.3m), more than doubling from EUR 1.4 million a year before.

The increase mirrors the commissioning of new capacity and improved electricity sales, which in turn led to higher revenues, Futuren said on Wednesday, adding that those were partly offset by an increase in financial costs and income tax. The company registered growth in its operating results in the six months, with its operating profit rising to EUR 9.1 million from EUR 5 million, but booked an impairment loss of EUR 300,000 on the goodwill related to an operating wind farm in Germany. Futuren noted that the year-over-year comparisons include an impairment loss related to Ecoval 30, a company active in the treatment of solid waste, which was previously classified as an asset held for sale.

The following table shows more details about Futuren’s performance in the six months.

in EUR H1 2019 H1 2018
Revenue 37.3m 33.8m
EBITDA 21.5m 18.8m
Operating income 9.1m 5m
Net income of the consolidated group (loss) 3m 1.4m
-- of which group share 2.75m 846,000

After switching on 20 MW of new wind parks in France, the gross installed capacity that Futuren operates reached 448 MW, of which 220 MW is in France. Projects with a combined capacity of 28 MW entered construction in January-June.

Thanks to the commissioning of new plants, the French firm boosted its sales of electricity by 15% on the year to EUR 33.6 million.

(EUR 1.0 = USD 1.109)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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