THEOLIA's consolidated sales reached ¤61.9 million in the first half of 2008, an increase of more than 20% versus the first half 2007. Electricity sales from the Group's own wind farms amounted to ¤30.2 million, an increase of more than 400%.
Jean-Marie Santander, Chairman and Chief Executive Officer: "We continue to concentrate our efforts on the sale of electricity from wind farms we own; this activity generates recurring and predictable cash flow over the long term. Sales from this activity were multiplied by five over the first half of the year, reflecting our desire to own as many wind farms as possible. The Group now has a solid base: I am confident in the pursuit of our growth."
Electricity sales from wind power
Electricity sales, for both own account and third parties, grew from ¤22.3 million to ¤53.2 million over the first half of 2008, an increase of 139%.
This result is explained principally by the very strong increase in electricity sales from the Group's own wind farms, progressing from ¤5.9 million to ¤30.2 million- growth of 409%. The Group's own installed capacity grew by 375%, going from 73 MW at June 30, 2007 to 347 MW at June 30, 2008.
Electricity sales for third parties grew 41% from ¤16.4 million to ¤23.1 million, due to the increase in the number of wind farms managed for third parties.
Sales of wind farms to third parties
The recent announcement of the increase in the fixed feed-in tariff of electricity in Germany, applicable from January 1, 2009, led the Group to realize no sales of wind farms in the first half of 2008.
Breakdown of consolidated sales by business segment
|(¤ thousands)||Electricity sales from wind power||Sales of wind farms to third parties||Non-wind activities||Consolidated total|
|Consolidated total June 30, 2008||53,214||N/A*||8,683||61,885|
June 30, 2007
N/A : non applicable
This segment recorded sales of ¤8.7 million in the first half of 2008 compared to sales of ¤5.4 million in the first half of 2007 adjusted for the accounting treatment of Thenergo by the equity method.
The Group confirms that this segment is a non-core business.
Breakdown of consolidated sales by geographic area
|(¤ thousands)||France||Germany||Rest of the World||Consolidated total|
|Consolidated total June 30, 2008||13,204||44,426||4,255||61,885|
June 30, 2007
First half 2008 sales increased by more than 60% in France and more than 25% in Germany, the two core markets for THEOLIA.
The scope of Rest of the World now includes la Compagnie Eolienne du Détroit (CED), the wind farm located in the north of Morocco acquired early January 2008, and excludes Thenergo, consolidated by the equity method since July 2007. For the first half of 2008, CED recorded sales of ¤3.3 million.
August 29, 2008 after market: release of first half 2008 results
THEOLIA is a leading European producer of electricity from renewable energy. THEOLIA is active in France, Germany, Spain, Greece, Italy and in certain emerging countries through its subsidiary THEOLIA Emerging Markets: India, South America, some Eastern Europe countries and Morocco. THEOLIA trades on the compartment B of Euronext Paris, regulated market of NYSE Euronext, under the symbol TEO. The stock is in both the SBF 120 and NEXT 150 indices.
For more information
|Edward F. McDonnell
Director of Investor Relations
Tel: +33 (0)4 42 906 594
Director of Communications
Tel: +33 (0)4 42 904 904
Director of Financial Communications
Tel: +33 (0)4 42 906 596
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