|FUTUREN recorded a revenue up by +7% in the first half of 2018 (2018/07/31 07:00 AM)|
(1) For comparison with the first half of 2018, restatement of the impacts related to the reintegration of Ecoval 30 (end of IFRS 5) and the application of the new IFRS 15 standard (see details below)
The Sales of electricity activity relies on long term electricity buyback contracts (15 to 20 years depending on the country) with guaranteed tariffs. This secure activity accounted for 86% of the consolidated revenue in the first half of 2018.
In order to strengthen this activity, FUTUREN is actively pursuing the realization of its portfolio of wind projects.
In particular, FUTUREN is currently building the Demange wind farm in the Meuse department (France) and the Faydunes wind farm in the Aveyron department (France). The Group also obtained all necessary authorizations for the upcoming realization of two other wind projects located in the Aube and Hérault departments (France). These four projects represent a cumulative capacity of approx.. 75 MW. Their commissioning shall take place in 2018 and 2019.
The Development and management of wind farms activity registered a revenue of 2.1 million euros in the first half of 2018, down compared to the first half of 2017, mainly because of the termination of some contracts of management for third parties in Germany.
Since the discussions for the disposal of the company were not successful, Ecoval 30 does no longer meet the criteria for application of the IFRS 5 standard as at June 30, 2018 and is therefore reintegrated into FUTUREN's consolidated financial statements in the first half of 2018. A new "Other activities" segment has been created for that purpose.
The revenue reported by Ecoval 30 and registered in the "Other Activities" segment amounts to 2.4 million euros in the first half of 2018, up by + 2% compared to the first half of 2017.
The application of the IFRS 15 standard reduced the revenue recorded in the first half of 2017 by a cumulative amount of 0.8 million euros.
A restatement of all these impacts is presented for the first half of 2017 for comparative purposes.
FUTUREN is a group active in the field of wind energy, present throughout the entire wind value chain. The Group develops, builds and owns wind farms in four countries: Germany, France, Morocco and Italy. In total, the Group manages 632 MW for its own account and for third parties.
Registered office: Cœur Défense – 100, esplanade du Général de Gaulle – 92932 Paris La Défense - France
Administrative address: Europarc de Pichaury - Bât. B9 - 1330, avenue JRGG de la Lauzière - BP 80199 - 13795 Aix-en-Provence Cedex 3 - France
Tel: +33 (0)4 42 904 904 – Fax: +33 (0)4 42 904 905 - www.futuren-group.com
The stock is listed on the compartment B of Euronext Paris, symbol: FTRN.
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