French renewable power plants operator Voltalia SA (EPA:VLTSA) narrowed its net loss to EUR 4.6 million (USD 4.4m) in the first half of 2022, mainly thanks to cost control and increased revenues.
The Paris-based company closed the first semester of the year with net revenues totalling EUR 214.3 million. Development, construction and equipment procurement activities generated revenues of EUR 152 million while energy sales were responsible for EUR 96.1 million of the total.
At EUR 47.4 million, consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 40% in annual terms. The improvement was attributed to the higher revenues and production benefits from power plants that were brought online in 2021.
More details about Voltalia’s performance can be seen in the table below.
|Amounts in EUR million
||Change at current rate
||Change at constant rate
|Revenue from Energy
|Revenue from Services
|Eliminations and corporate items
|Depreciation, amortisation and provisions
|Net loss (group share)
At the end of June, Voltalia had 1,226.1 MW of installed capacity in its fleet, the bulk of which comes from wind farms in Brazil. Wind, solar and hydropower plants with a combined capacity of 916.7 MW were under construction.
Voltalia said it is on track to achieve its 2023 goal of having 2.6 GW of capacity in operation or under construction one year earlier than planned, by the end of 2022. The company reiterated its target for normalised EBITDA in the range of EUR 275 million to EUR 300 million in 2023.
(EUR 1.0 = USD 0.966)
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