GLOBAL ECOPOWER : TURNOVER 2015: STRONG INCREASE OF 61% OF WHICH 52% OF ORGANIC GROWTH
Aix-en-Provence (France), February 25, 2016. Global EcoPower (Alternext - FR0011289198 - ALGEP) announces a net increase of 61% in its consolidated revenues in the fiscal year 2015, of which 52% of organic growth. The Group thus records its fourth consecutive year of growth, with a turnover multiplied by more than 4 since 2012.
|In K€ - Unaudited consolidated data||2015||2014||Variation|
|of which wind activity||23,384||15,877||+47%|
|of which solar PV activity||828||0||n.a|
|of which Sénergies(1)||1,356||0||n.a.|
(1) Sénergies, 100% subsidiary of GEP, is consolidated in the Group accounts since November 1, 2015
JEAN-MARIE SANTANDER, PRESIDENT AND CEO:
“The 2015 turnover increased by over 60% compared to the last fiscal year and by almost 350% since 2012, year of the redeployment of the Group in wind energy. While the team is now perfectly structured to intervene abroad, our target of € 120 M in turnover in 2017 is confirmed. At the same time, the Group's equity increased, thus giving the management more means to implement its strategy aimed at acquiring the SPV and carrying the financing of the plants till their grid connection before selling them.”
ACTIVITY OF GEP GROUP IN 2015
The wind activity of GEP consists in acquiring the rights of an SPV, raising the financing and building the plant in order to resell it. Once sold, the plants are operated by GEP on behalf of the client during 15 years.
During the fiscal year 2015:
- GEP completed the construction of the Tramomarina windfarm, with a capacity of 10.25 MW, which was connected to the ERDF public grid on April 21, 2015;
- GEP financed, built and connected the “Parc Eolien de la Vallée du Don” windfarm, with a capacity of 10 MW, to the ERDF grid on December 1, 2015. The sale of the plant to the German group LHI is expected in the 1st half of 2016;
- GEP also acquired, on June 5, 2015, 60% of the shares of the company “Parc Eolien de Seuil Mont-Laurent”, with a capacity of 10 MW. To date, the earthworks and all foundations are completed. The delivery station has also been installed on site. The delivery of the Vestas turbines is scheduled in spring 2016 for a connection to the ERDF grid mid-2016. This project will be sold turnkey during the fiscal year 2016.
Solar PV activity
GEP signed, on behalf of a third-party investor, a subcontract for the construction of a solar power plant in the South of France for a total amount of € 2.9 M. For the works carried out in 2015, GEP has recognized a turnover of € 828 K.
Sénergies is dedicated to the construction of power plants in France and abroad.
GEP acquired on October 28, 2015 the business assets of the companies Sénergies and Eri Sud-Ouest. For the first two months of activity, the turnover of SAS Sénergies amounted to € 1,356 K. In the future, the construction works of the group will be carried out by Sénergies.
GEP wishes to maintain in 2016 an increase in its turnover at least equal to that of 2015, with a target of more than € 40 million.
GEP is currently working on several projects:
- A solar PV plant of 29 MWp in Puerto Rico;
- A wind power plant (nearshore) in Sweden of 20 turbines (between 70 and 100 MW);
- A solar PV plant of 12 MWp in Spain;
- A 50 MW wind farm in Serbia, extendible to 75 MW;
- Several wind farms in Greece;
- The construction of several solar PV plants in France and abroad.
GEP will publish its audited consolidated financial statements for the fiscal year 2015 on March 22, 2016 after trading.
About Global EcoPower (GEP)
Global EcoPower is an Aix-en-Provence based company and a “turnkey” constructor of power plants using renewable energies, wind and solar power. GEP is listed on the NYSE Alternext Paris Market of NYSE Euronext
(ISIN code: FR0011289198 - mnemo: ALGEP). GEP is eligible for PEA-PME.
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