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Voltalia : Check out Voltalia’s latest Shareholder Letter! Find out about the H1


Letter to shareholder

November 2021

  • Our integrated model combines growth, resilience and value creation . »

Edito from Sébastien Clerc

Dear Shareholder,

I am very pleased to share with you today the Group’s latest results, our achievements over the last few months and our future prospects.

The first half of 2021 has been rich in achievements and significant progress for Voltalia in the context of a health crisis that remains present.We have maintained all our activities in strict compliance with regulations. The continued strong growth of our revenues (+72%) and our EBITDA (+44%) was driven by the sustained momentum of all our activities. While our installed capacity has been growing month by month, Third Party Services have more than doubled over the period, illustrating the expertise of our teams. Our portfolio of projects under development represents a total capacity of 10.7 gigawatts, including 1 gigawatt secured by long-term power sales contracts. On the strength of this very good start, the third quarter of 2021 has also seen strong growth, crossing the 100 million euro revenue threshold for the first time. for a single quarter. Our good performance in Energy Sales and Services illustrates the success of our integrated model that combines growth, resilience and value creation. Voltalia is positioned as a key player in an extremely buoyant and fast-growing market.

Our 2021 objectives and 2023 ambitions are reiterated. Voltalia is confident of achieving its objective of a normative EBITDA of approximately €170 million by the end of 2021. In 2023, thanks in particular to the increase in installed capacity, the normative EBITDA should reach the range of 275-300 million euros. Commercial and operational activity remained very strong throughout the nine-month period, with 230 megawatts of new contracts won.

Our commitment to CSR (Corporate Social Responsibility) has never been more important. Voltalia’s management of ESG (Environment, Social and Governance) issues has been evaluated and recognized by the rating agency Sustainalytics, ranking the company for the third year in a row among the top 10 in the global renewable energy sector As proof of our determination to place CSR issues at the heart of our strategy, Voltalia has chosen to adopt the status of Mission Driven Company as defined by the Pact Act At the Annual General Meeting of Shareholders held on May 19, Voltalia was overwhelmingly approved by its shareholders (99.98%). The company was able to align its activities with its bylaws by including three environmental and social objectives that it will pursue in its business activities. By becoming the first company in its sector and the third listed on the regulated Euronext market to become a Mission Driven Company, Voltalia is reaffirming its commitment to contribute daily, through its operational activities, to the fight against climate change and to local socio-economic development. Thanks to the determination and continuous commitment of all employees, we have achieved the objectives we set ourselves and I thank you for that. I wish you all a very good reading!

Yours Sincerely

Sébastien Clerc

Chief Executive Officer

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Half-year 2021 financial results

Revenues for the first half of 2021 amounted to 152.1 million euro, a strong increase of 72% at current exchange rates.The activity benefited from the combined effect of the acceleration of the commissioning of new power plants, the increase in electricity production driven by a better level of resources and the strong momentum of service sales.

EBITDA amounted to 34.1 million euro, up 44% (at current exchange rates), with growth in each of the Group’s activities. The EBITDA margin was down by 4.4 points to 22.5%, mainly due to the increase in Services for third-party customers, a low-capital-intensity activity which therefore generates a lower margin on revenues than electricity production. Furthermore, within Services, while H1 2020 had recognized significant sales of projects to be built (94 megawatts for a…



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