Voltalia books higher Q3 revenues, unveils new goals for 2027

Renewable power plants operator Voltalia SA (EPA:VLTSA) on Wednesday reported a 33% year-on-year increase in revenues for the third quarter of 2022 and unveiled new EBITDA and capacity targets for 2027.

The French company confirmed its goal for nomalised earnings before interest, tax, depreciation and amortisation (EBITDA) in the range of EUR 275 million (USD 269.1m) to EUR 300 million in 2023 and set a target of around EUR 475 million for 2027.

In view of its progress in capacity deployment, Voltalia will strive at more than 5 GW of capacity in operation and under construction by end-2027, as well as more than 8 GW of capacity in operation on behalf of clients by the same year.

Voltalia confirmed it is on track to achieve its 2023 goal of having 2.6 GW of operational and under-construction capacity one year earlier than planned, by the end of 2022. At end-September, the Paris-based firm had 1.5 GW of commissioned wind, solar, hydro and biomass energy plants and was building an additional 0.9 GW, mostly solar.

Voltalia closed the third quarter with revenues of EUR 135.2 million, enjoying strong growth in each of its two major divisions – energy sales and services. Regardless of the lower power output, energy sales brought revenues that were 16% higher than in the year-ago period due to the sharp rise in the average selling price per MWh.

At the same time, revenues from project development rose by 42% after Voltalia sold several under-development projects in Brazil, while construction revenues experienced a decline amid the lower activity levels in France and the UK. Revenues from the operation and maintenance of power plants climbed by 3% in annual terms.

"Third quarter performance was strong, with accelerating energy sales and continued very strong growth in services to third party customers,” said CEO Sebastien Clerc.

(EUR 1.0 = USD 0.979)

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