Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Voltalia : Rough ride in 2021 but 2023 confirmed

>Outperform rating and target price of € 22 maintained - 2021 results came in below our expectations due to the deferral of the accounting recognition of disposals of projects under development for third parties in Brazil, less generous resources and currencies. The group posted a level of secured projects that enables it to reassert its target of 2.6 GW in operation or under construction in 2023. Similarly, the 2023 normative EBITDA guidance between € 275m and € 300m...
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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