THEOLIA : Revenue for the first quarter of 2011

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Revenue for the first quarter of 2011

The Group's consolidated revenue for the first three months of 2011 amounted to 13.9 million euros, compared to 21.2 million euros for the first three months of 2010.

WIND ACTIVITIES Non-wind
activity (1)
Consolidated
total
(in ¤ thousands) Sale of electricity for
own account
Development,
construction, sale
Operation    
First quarter 2011 11,236 796 1,612 244 13,888
First quarter 2010 12,989 6,705 1,307 (2) 198 21,200
Variation - 13 % - 88 % + 23% + 23 % - 34 %

(1) Excluding Environment activities.
(2) Restatement of revenue generated from the sale of electricity from wind farms managed for third parties offering no guaranteed margins. For more information, please refer to the 2010 Annual financial report (note 2.1 of the notes to the consolidated financial statements) available on the website www.theolia.com. Before restatement, the revenue from the activity Operation amounted to 11.1 million euros for the first quarter of 2010.

The revenue from the activity Sale of electricity for own account was 11.2 million euros for the first quarter of 2011, compared to 13 million euros for the first quarter of 2010, in line with the reduction of installed capacity for own account over these two periods. As of March 31, 2011, the installed capacity for own account amounted to 291 MW versus 319 MW as of March 31, 2010. The decrease is mainly due to the sale, in May 2010, of a 55.5 MW wind farm in Germany.

The revenue from the activity Development, construction, sale amounted to 796 thousand euros for the first three months of 2011, down 88%. In fact, the Group did not sell any wind farms during the first quarter of 2011, while 4.5 MW had been sold in the first quarter of 2010.

The revenue from the activity Operation amounted to 1.6 million euros, up 23% compared to the first three months of 2010. This increase is mainly due to the increase in capacity managed for third parties which went from 463 MW as of March 31, 2010 to 586 MW as of March 31, 2011.

The Non-wind activity registered revenue of 244 thousand euros for the first three months of 2011, produced by the solar park in Germany.

Operational update

In the context of the its "trading" activity of installed wind farms in Germany, the Group has commissioned three wind farms for a cumulative capacity of 8 MW during the first quarter of 2011.

In France, the construction works on the Gargouilles project continue with the erection of the turbines on site. The wind farm will be commissioned by the end of 2011.

Next event

THEOLIA will convene its shareholders for a General Meeting on June 17, 2011.

FOR MORE INFORMATION

Edward F. McDonnell
Investor Relations

Tel: +33 (0)4 42 906 594
eddie.mcdonnell@theolia.com
Elodie Fiorini
Public relations and Communications

Tel: +33 (0)4 42 906 596
elodie.fiorini@theolia.com

THEOLIA
French Société anonyme (public limited company with Board of Directors) with share capital of ¤112,773,971
Registered office: 75 rue Denis Papin - 13100 Aix-en-Provence - France
Tel: +33 (0)4 42 904 904 - Fax: +33 (0)4 42 904 905 - www.theolia.com
THEOLIA is listed on the compartment C of Euronext Paris, code: TEO

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