Press release Aix en Provence, July 29, 2010
THEOLIA records revenue of 116 million euros in first half of 2010
THEOLIA's consolidated revenue amounts to 115.8 million euros in the first half of 2010, increasing by 10% compared to the first half of 2009.
First half 2010 revenue by activity (1)
(in € thousands)
|Wind activities||Non-wind activity||Consolidated total|
|Sale of electricity for own account||Development, construction, sale||Operation|
(1 ) Excluding Environment activities
The revenue of 18.6 million euros from the Sale of electricity for own account activity is down by 33% compared with the first half 2009. This decrease is mainly due to the significant sales of installed capacity completed in the second half of 2009 and the first half of 2010: the Group's installed capacity for own account amounted to 421 Megawatts (MW) as of June 30, 2009 versus 267 MW as of June 30, 2010, a decrease of 37%.
The revenue from the Development, construction and sale activity amounts to 77 million euros in the half 2010. This activity was largely due to the sale of 60 MW of installed capacity in Germany. Please note that the Group expects to record an additional 9.6 million euros from prior wind farm sales in the coming months.
The revenue from the Operation activity includes both the amount of sales of electricity coming from certain wind farms managed for the third parties as well as associated fee revenue from other wind farms managed for third parties. As of the first half 2010, this revenue amounts to 19 million euros, in line with the revenue recorded for the first half 2009.
As of June 30, 2010, the Group managed 518 MW for third parties; compared with 329 MW managed as of June 30, 2009, an increase of 57%.
As a result, the increase in MW under management led to only a small increase in revenue. This increase was more than offset by the negative impact of unfavorable wind conditions during most of 2009 and the beginning of 2010.
The Non-wind activity recorded revenue of 0.8 million euros due to the solar park in Germany.
In its pipeline as of June 30, 2010, THEOLIA has 23 MW in construction in Italy and Germany, and 108 MW permitted for wind farm projects in France and in Italy. The Company is currently reviewing the financing of these projects with banks that have indicated their willingness to participate.
THEOLIA is an independent international developer and operator of wind energy projects. THEOLIA is active primarily in France, Germany and Italy, and also in India, Brazil and Morocco. THEOLIA trades on the compartment B of Euronext Paris, regulated market of NYSE Euronext, under the symbol TEO. The THEOLIA stock is part of the CAC Small 90 index.
For more information
Edward F. McDonnell
Tel: +33 (0)4 42 906 594
Tel: + 33 (0)6 09 04 80 11
French Société Anonyme (public limited company with Board of Directors) with share capital of €100,771,766
Registered office: 75 rue Denis Papin BP 80199 - 13795 Aix-en-Provence cedex 3 - France
Tel: +33 (0)4 42 904 904 - Fax: +33 (0)4 42 904 905 - www.theolia.com
THEOLIA is listed on the compartment B of Euronext Paris, code: TEO
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