French renewable power plants operator Voltalia SA reported a 19% year-on-year increase in turnover for the first nine months of 2024, reaching EUR 380.1 million (USD 409.3 million).
This growth was largely driven by a 26% rise in energy sales, which contributed to 70% of total revenue, amounting to EUR 266.5 million.
Despite the overall revenue increase, the company's services segment experienced a decline, primarily due to a 35% drop in revenues from internal services, which are eliminated on consolidation. In contrast, revenues from third-party services rose by 5% to EUR 113.7 million.
In the third quarter, Voltalia generated total revenues of EUR 131.1 million, marking a 4% improvement compared to the same period last year. Energy sales surged by 25% to EUR 97.6 million, bolstered by the commencement of production from new plants and increased power sale prices, although this was somewhat offset by curtailments in Brazil.
The services segment, excluding internal activity, saw revenues decline by 30% to EUR 33.5 million, reflecting a challenging comparison in the Development, Construction, and Procurement segment.
As of September 2024, Voltalia operated 2,475 MW of plants across solar, wind, biomass, and hydropower technologies, an increase from 2,046 MW a year prior.
The company reaffirmed its target for 2024, aiming for 2.5 GW of operational capacity and 0.8 GW under construction.
