Plan de marche respecté et amélioration des résultats - ACHAT - OC 11€
VOLTALIA a publié un CA S1 ventes d’énergies en hausse de 21,5% porté essentiellement par le photovoltaïque (montée en puissance des parcs existants) et l’hydraulique (travaux d’amélioration de la centrale de Mana en Guyane). L’EBIT est à l’équilibre, en forte amélioration par rapport au S1 2013 (-2,8m€) grâce à la fois à une maitrise des charges opérationnelles et à un effet de base. Le RN ressort en légère perte, mais en forte amélioration (-0,9m€ vs -5,1m€ au S1 2013) après une amélioration du coût de l’endettement financier net qui s’explique par des revenus de placements au Brésil. Cette publication, ainsi que l’avancement des projets conformes à nos attentes nous conforte dans nos prévisions, nous initions le suivi de la valeur avec un objectif de cours de 11€ par titre et une recommandation à l’ACHAT.Voltalia. Voltalia SA is a France-based holding company engaged in the renewable utilities sector. It designs, develops and operates electric power stations in numerous countries, such as France, French Guyana, Brazil, Greece and Morocco. The Company generates electricity using a variety of renewable energy sources. These include wind, water, biomass and solar power. In addition, Voltalia SA specializes in carbon credit trading activities. The Company operates several subsidiaries, including Anelia and Bio-Bar in France, Voltalia Guyane, SIG Kourou, SIG Mana and SIG Cacao in French Guyana, Voltalia Energia do Brasil in Brazil, Thegero in Greece and Alterrya Maroc in Morocco, among others. The Company is owned by Voltalia Investissement SA.
Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.
Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.
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