Voltalia : Sales for 9M 2020 slightly above expectations, confirming the seasonality of H2
>Neutral rating maintained and target price adjusted to € 18.2 (vs € 17.6) - Following the publication of its 9M 2020 sales, which came in a shade above our expectations (€ 150m vs € 144m est.), we confirm our Neutral recommendation. We are adjusting our target price to € 18.2 (vs € 17.6) following the update of operating data. This is based on a DCF with medium-term growth of 250 MW p.a. beyond 2023 (€ 16.8) and an SOTP (€ 19.6) factoring in the 2.6 GW of the strateg...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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