Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Voltalia : Despite an atypical 2019, 2023 trajectory still on track

>Buy rating and target price maintained - Following the meeting to present first-half earnings, we maintain our Buy rating and target price of € 13.30. Although it has no impact on our EPS estimates, our 2019 EBITDA estimate has been updated to reflect the lower production recorded in H1 2019. This fall was offset by the sale of 60% of Coco Banane and the consolidation of Helexia over 6 months. Our target price is still based on the average of a farm-by-farm approach ...
Underlying
Voltalia

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

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