Press releases
FUTUREN records growth of + 11.2% in sales of electricity in 2015 (2016/02/02 07:00 AM)
Commenting on the figures, Fady Khallouf, Chief Executive Officer of FUTUREN, said: "In 2015, the Sales of electricity, representing the Group's most profitable activity, recorded strong growth, driven by globally favorable wind conditions, but also by the commissioning of a 21 MW wind farm in November 2015. In 2016, the Group will benefit from the full year effect of this commissioning as well as from the commissioning of a 18 MW wind farm, currently under construction and which will be connected to the grid in the second half of 2016. In a few weeks, the Group will also launch the construction works for a new 13 MW project that will be commissioned at the end of 2016. This strong momentum illustrates our strategy to increase our installed capacity for own account in order to improve the Group's profitability. Taking advantage of our model that allows us to grow at constant structure cost, every new wind farm commissioning contributes to improving our profitability. In this perspective, we are actively pursuing our aim to double our installed capacity for own account in France and Morocco in the short term." Thanks to globally favorable wind conditions and to the commissioning of a 21 MW wind farm in November 2015, the Sales of electricity activity recorded a revenue of 51.1 million euros in 2015, up by + 11.2%. The Sales of electricity 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 86% of the consolidated revenue for 2015. In order to favor its most profitable activity of sales of electricity, the Group has voluntarily chosen not to sell any operating wind farm in 2015. As a consequence, the Development and management of wind farms activity is declining compared with last year, while a wind farm was sold in August 2014. The Group does no longer register any non-wind activity since the disposal of the solar park at the end of May 2014. About FUTUREN CONTACT
French Société anonyme (public limited company with Board of Directors) with a share capital of €18,605,410.60 APPENDIX
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