Wind co Theolia nears break-even, becomes FUTUREN

Wind farm. Author: Maret Hosemann. License: Creative Commons. Attribution 2.0 Generic

French wind power company Theolia SA (EPA:TEO) today reported a net loss of just EUR 917,000 (USD 1m) for the first half of 2015, and announced it is changing its name to FUTUREN.

The company operates 882 MW of wind farms in Germany, France, Morocco and Italy, and has 200 MW of projects under or nearing construction in France and Morocco. Since 2010, it has focused on power production -- betting on long-term contracts at guaranteed rates.

"The efforts made over the last five years have brought the Group to record net income close to break-even for the first time since it was founded," said CEO Fady Khallouf. Details on Theolia's financial performance are available in the table.

(results in EUR)	H1 2015	H1 2014 restated
Consolidated net loss	917,000	9.95 million
Net loss from continuing operations	387,000	11.5 million
EBITDA	16.2 million	15.9 million
Revenue	29.8 million	29.5 million

Wind conditions in the first half were favourable globally, so revenues from the sale of electricity climbed, Theolia said. This offset a reduction in its capacity following the sale of a 6-MW wind farm in August 2014.

As announced in May, Theolia no longer controls Breeze Two Energy GmbH and Co, the owner of 337 MW of wind farms in Germany and France. The figures in the table exclude Breeze, except for the consolidated bottom line result.

(EUR 1 = USD 1.116)

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