|THEOLIA doubles its revenue in the first quarter of 2009 (2009/05/14 6:00 PM)|
THEOLIA's consolidated revenue amounts to €78.2 million in the first quarter of 2009, increasing by 100% compared to the first quarter of 2008.
(1) Restated for IFRS 5 application regarding discontinued activities for sale.
In accordance with the IFRS 8 standard and for a more readable presentation, the Group has redefined its business segments as follows:
Revenue from Sale of electricity for own account of €15.7 million is 27% down versus the first quarter of 2008, due to unfavorable wind conditions in both Germany and France during the first quarter of 2009.
Revenue from Development, Construction, Sale is €51.9 million. As announced, the Group has reactivated sales of wind farms to third parties in Germany and sold 35.5 MW during the first quarter of 2009. No sales of wind farms were registered in 2008.
Revenue from Operation of €10.4 million is 39% down compared to the first quarter of 2008, due to unfavorable wind conditions in Germany. It includes fees from management of wind farms and corresponding revenue from the sale of electricity produced.
Revenue from Non-wind activity for the first quarter 2009 relates mainly to the sale of electricity produced by the solar park owned by the Group. The other activities have been removed from the consolidation as of December 31, 2008 in application of the IFRS 5 standard.
Update on the cash position
In early May, the Group received the €15 million proceeds from the sale of its stake in Thenergo. The free cash position (unaudited) at the holding level equals €22 million as of May 13, 2009.
For more information
French Société Anonyme (public limited company with Board of Directors) with share capital of €39,828,992
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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