Voltalia : H1 sales ahead of our estimates
>Buy maintained – target price adjusted to € 17.4 vs € 15.5 - H1 2020 sales came in at € 88.7m (vs € 72m estimated). The two main differences were due to energy sales (+€ 10.5m vs our forecast of € 52m and services activities (+€ 6m vs our forecasts of € 20m). Increase in capacity is ongoing +141.8MW (+20.9%) vs December 2019 and +290 MW (+55%) vs H1 2019. The securing of the 2020 target (1 GW in installed capacity) and the trajectory that is well under way for 2023 (...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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