Higher energy sales lift Voltalia's Q3 revenues

French renewable power plants operator Voltalia SA (EPA:VLTSA) posted increased third-quarter revenues amid growing energy sales, and confirmed its EBITDA guidance for 2020.

The company said on Wednesday its energy sales in July-September rose by 20% on the year to EUR 45.4 million (USD 53.8m), pushing its total consolidated revenue for the period to EUR 61.6 million.

“The Q3 2020 performance is the consequence of Energy sales growth driven by the increase of our installed capacity which will positively impact our revenues and profitability for the next 20 years. Services revenues slightly beat Q3 2019’s record high level,” said CEO Sebastien Clerc. He added that Voltalia has secured 922 MW of long-term off-take contracts so far this year.

The table below gives more information about the company’s revenues.

The services business encompasses the development, construction and procurement, as well as operation and maintenance (O&M) of power plants.

The higher energy sales in the three months were driven by a 35% increase in power production as compared to the third quarter of 2019. Solar generation increased in the UK, Belgium, Portugal, Spain, Italy, Greece and Egypt, and wind was up in Brazil. While a slight drop was experienced in the French wind market, new solar and hydropower plants managed to compensate for the decreased generation.

Voltalia had 860 MW of installed capacity at the end of September, 631 MW of which in Brazil. The company’s wind, solar, hydro and biomass power plants generated 873 GWh of electricity in the third quarter, up 35% from a year ago.

Looking ahead, the French firm reiterated its short and mid-term financial forecasts, as well as capacity ambitions. More details can be seen in the table.

(EUR 1.0 = USD 1.185)

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