France's Voltalia enjoys growing revenues in Jan-Sept 2024

French renewable power plants operator Voltalia SA (EPA:VLTSA) enjoyed a 19% year-on-year increase in turnover for the first nine months of 2024, even as revenues from its services segment declined due to internal services performed for its own account.

At EUR 380.1 million (USD 409.3m), nine-month revenues benefitted from higher energy sales, which accounted for 70% of the total turnover and rose by 26% in annual terms to EUR 266.5 million. While services revenues from third-party clients improved by 5% to EUR 113.7 million, revenue from internal activity, eliminated on consolidation, suffered a drop of 35%, Voltalia’s financial report shows.

In the third quarter alone, Voltalia booked total revenues of EUR 131.1 million, registering an improvement of 4% from a year back. Energy sales jumped by 25% to EUR 97.6 million as the company kicked off production from new plants and enjoyed higher power sale prices, partly offset by curtailments in Brazil. Its services revenues, excluding revenue from internal activity, fell by 30% to EUR 33.5 million, reflecting an unfavourable base effect in the Development, Construction and Procurement segment.

Voltalia closed the first nine months of 2024 with 2,475 MW of plants in operation across solar, wind, biomass and hydropower technologies, up from 2,046 MW a year earlier. The company confirmed its 2024 target for 2.5 GW of capacity in operation and 0.8 GW under construction.

(EUR 1.0 = USD 1.077)

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