October 18 (Renewables Now) - French renewable power plants operator Voltalia SA (EPA:VLTSA) on Wednesday posted a 12% year-on-year increase in third-quarter (Q3) revenues, mainly thanks to its services business, and confirmed its projections for a rise in second-half profits.
"The expected positive dynamics have started to unfold, confirming our outlook for a strong second half of 2018,” said CEO Sebastien Clerc
The French company closed the July-September quarter with consolidated revenues of EUR 54.5 million (USD 62.7m), driven by the strong performance of its services division, which more than doubled its revenues to EUR 24.9 million. Of the total, development and construction revenues totalled EUR 20.5 million, jumping from EUR 5.6 million a year before due to the sale of shovel-ready projects in Brazil to private equity firm Actis. Meanwhile, operation and maintenance revenues slipped by 4.8% to EUR 4.4 million.
In the energy segment, Voltalia lifted its revenues by 0.3% on the year to EUR 40.7 million, which was the result of the higher output of its power plants. The company’s renewable energy facilities generated 658 GWh of electricity, up 6% in annual terms. The bulk of power came from plants in Brazil, which enjoyed good wind conditions and rising selling prices.
Voltalia’s revenues in the first nine months of 2018 came at EUR 129.1 million, growing by 1.9% on a yearly basis. While revenues from the services business jumped by 88.5% to EUR 64.1 million, energy sales experienced a 4.5% decline to EUR 96.4 million.
Voltalia had 523.8 MW of installed capacity globally as of end-September.
(EUR 1.0 = USD 1.151)