January 27 (Renewables Now) - French renewable power plants operator Voltalia SA (EPA:VLTSA) on Wednesday reported a 77% year-on-year revenue increase in 2021 as the contribution from its services business reached an all-time high and energy sales gained momentum.
The Paris-based company recorded consolidated revenues of EUR 411.9 million (USD 466.7m) in the past year, marking an improvement both at current and constant currency rates.
“With a record year in 2021 for its Energy sales as well as for each of its Services segments, Voltalia is taking another step in its growth trajectory,” said CEO Sebastien Clerc.
Revenues in the services business, which encompasses the development, construction and procurement, and operation and maintenance (O&M) of power plants for third-party clients, contributed more than half of Voltalia’s 2021 top-line result. At EUR 271.6 million, revenues at the segment jumped by 99% on the year and reached a record level.
Energy sales improved by 33% at current exchange rates as power generation rose thanks to the more favorable weather conditions and the commissioning of new capacity.
The table below gives more details about the company’s results.
|In EUR million ||Q4 2021 ||Q4 2020 ||Change ||Change at constant currency ||2021 ||2020 ||Change ||Change at constant currency |
|Consolidated revenues ||158.3 ||83.3 ||+90% ||+87% ||411.9 ||233.3 ||+77% ||+81% |
|-- Energy sales ||56.5 ||55.6 ||+2% ||+0% ||216.2 ||163.1 ||+33% ||+40% |
|-- Services ||125.4 ||50.6 ||x2.5 ||x2.5 ||271.6 ||136.6 ||+99% ||+99% |
|Eliminations (services for own plants) ||(23.6) ||(23.0) ||+3% ||+7% ||(76.0) ||(66.3) ||+14% ||+18% |
|Production (GWh) ||1,233 ||956 ||+29% ||-- ||4,143 ||2,750 ||+51% ||-- |
Voltalia ended 2021 with an installed capacity of 1,129 MW, or 11% more than it had at end-2020. Its wind, solar, hydro and biomass energy facilities produced a record 4.1 TWh of electricity, mainly thanks to the better wind resources in Brazil.
At end-2021, Voltalia had 3.4 GW of capacity in operation for its own account and for third-party customers.
The French company reiterated its forecast for 2021 earnings before interest, tax, depreciation and amortisation (EBITDA) of around EUR 170 million and said it continues to expect EBITDA will reach EUR 275 million-300 million by 2023.
In terms of capacity, Voltalia aims to reach 2.6 GW of operational and under-construction capacity by the end of 2023.
(EUR 1.0 = USD 1.133)