Voltalia : 2022 revenues driven by services
>Outperform recommendation and target price of € 23.7 - 2022 revenues topped our expectations (€ 502.7m vs € 477.5m), driven by inflation, the Brazilian Real and especially services (+26% in real terms and +19% at constant forex). The group has not provided any financial guidance for 2022, but confirms the normative EBITDA target of € 275m to € 300m in 2023. We are sticking with our Outperform recommendation and target price of € 23.7. This is based on a DCF (€ 22.6, ...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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