|Growth of + 12% of the consolidated revenue for the first half of 2014 (2014/07/16 07:00 AM)|
THEOLIA's consolidated revenue for the first half of 2014 reached 51.7 million euros, an increase of + 12% compared to the first half of 2013.
The revenue from the Sales of electricity for own account activity reached 47.8 million euros for the first half of 2014, an increase of +19% compared to the first half of 2013. The activity for this half year benefited from favorable wind conditions during the first quarter of 2014 in Germany and France, as well as from a positive scope effect related to the consolidation of Breeze Two Energy over 6 months in 2014, compared to 5 months in 2013.
As at June 30, 2014, THEOLIA held 307 MW and Breeze Two Energy 337 MW, which brings the installed capacity held and controlled to 644 MW. In compliance with IFRS 11, capacities which contributed to the Sales of electricity for own account activity amounted to 648 MW as at June 30, 2014.
The Sales of electricity for own account activity, which relies on 15- to 20-year electricity buy-back contracts, benefits from a recurring revenue and significant margins over the long term. This secure activity accounts for 93% of the consolidated revenue for the first half of 2014.
The revenue from the Operation activity was stable compared to the first half of 2013, recording 3.2 million euros for the first half of 2014.
As at June 30, 2014, capacities managed for third parties reached 568 MW, compared to 625 MW as at June 30, 2013. In compliance with IFRS 11, capacities which contributed to the Operation activity amounted to 548 MW as at June 30, 2014.
The revenue from the Development, construction, sale activity came to 172 thousand euros for the first half of 2014. It is reminded that, in compliance with IFRSs, the sale of the Haute Borne wind project to the investment vehicle THEOLIA Utilities Investment Company is not recognized as revenue. Moreover, it is specified that the income from the disposals of Seres Environnement and the solar park are not recorded as revenue.
The Non-wind activity registered a revenue of 498 thousand euros for the first half of 2014, produced over 5 months by the solar park in Germany before its disposal on May 30, 2014.
THEOLIA secured a new building permit in France
THEOLIA has obtained all necessary authorizations for the installation of 7 wind turbines in the Charente-Maritime department in France. As long as the turbine type is not selected, the future wind farm's total capacity is estimated to 21 MW. This building permit is today free of any third-party claim.
In total, THEOLIA holds 227 MW in its pipeline which already received all necessary authorizations.
THEOLIA is an independent producer of wind energy, active over the entire wind value chain. The Group develops, builds and operates wind farms in four countries: Germany, France, Morocco and Italy. In total, the Group operates 1,213 MW for its own account and for third parties.