Voltalia : Q1 2023 revenue boosted by volumes
>Outperform recommendation and € 20.3 TP reiterated - Q1 2023 revenue came in above our estimate (€ 98.9m vs € 80.2m expected) boosted by higher installed capacity (+41% vs Q1 2022) and better wind conditions in Brazil wind power (39.5% utilisation rate vs 32.2%). Management reiterated its normalised EBITDA guidance for € 275m to € 300m in 2023. We maintain our Outperform recommendation and our target price of € 20.3, based on a DCF (€ 16.9) and SOP (€ 23.8). At the c...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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