Voltalia posts lower revenues in Q2

French renewable power plants operator Voltalia SA (EPA:VLTSA) on Friday reported a slight drop in second-quarter revenues to EUR 35.2 million (USD 41.2m) but said the environment remains very supportive for its business.

The 4% decline came as a result of lower energy sales, a 9% drop in revenues from operation and maintenance (O&M) of power plants and elimination of services that were performed internally. When calculated at constant exchange rates, however, the result was 8% higher in annual terms.

In the area of services, Voltalia recorded a 91% jump in development and construction revenues, up to EUR 15.3 million, while O&M revenues slipped to 4.7 million. Energy sales in the three months decreased by 1% to EUR 27.6 million but translated into a 16% increase at constant exchange rates due to the higher power sale prices in Brazil and growing sales in France.

Commenting on the results, Voltalia’s CEO Sebastien Clerc said that the company “remained on a solid growth trend” in the second quarter. “The environment remains very supportive for Voltalia, with contract suspensions in Brazil running until the end of the year and opportunities arising on all continents where we are present,” he said.

Voltalia had 518.8 MW of installed capacity at the end of June, the bulk of which comes from wind parks in Brazil. By the end of this year, the overall capacity is expected to increase slightly, the company said.

(EUR 1.0 = USD 1.171)

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