Economia
Third quarter turnover up +31%
Third quarter turnover up +31%
Q3 2025 turnover increased to 164.7 million euros (+31%), driven by Services
Production growth of +11% and capacity increase to 3.3 gigawatts as of September 30, 2025
2025 operational and financial objectives in line with forecasts
SPRING transformation plan roadmap in progress
Voltalia (Euronext Paris, code ISIN: FR0011995588), an international player in renewable energy, publishes today its 2025 third quarter turnover.
“ Voltalia achieved strong growth in the third quarter, with revenue up 31% to 164.7 million euros. This performance was driven by the excellent momentum of third-party Services, whose activity nearly tripled, offsetting the temporary decline in Energy Sales, with several power plants which will be commissioned in the fourth quarter. The SPRING transformation plan is now entering the implementation phase, paving the way for a more agile and efficient organisation. In a global energy environment undergoing profound change, we continue to be fully committed to sustainably strengthen our profitability, increase our operational efficiency and take full advantage of the opportunities offered by the energy transition.” , declares Robert Klein, CEO of Voltalia.
Turnover for the third quarter (Q3)2025 and for the first nine months (9M) 2025
REVIEW OF ACTIVITIES
Turnover for the first nine months of 2025 totals 421.6 million euros, up by +16% and +19% at constant exchange rates, driven by +87% growth in Services for third-party customers. Energy Sales, representing 56% of turnover, and Services representing 44% of turnover. By geographic region, 66% of the 2025 nine first month turnover was generated in Europe, 29% in Latin America and 5% in the rest of the world.
Turnover for third-quarter of 2025 reaches 164.7 million euros, up +31% (+33% at constant exchange rates), driven by the increase in Services for third party customers (2.8x at current and constant exchange rates), which more than compensated the temporary -13% decline in Energy Sales
ENERGY SALES
Turnover for the first nine months of 2025 from Energy Sales amounts to 237.3 million euros, down -11%
(-6% at constant exchange rates), compared with the same period in 2024. The average EUR/BRL exchange rate is 6.32, compared with 5.69 for the same period in 2024.
Production for the first nine months of 2025 reaches 3.6 TWh, up +11% offset by the effect of curtailment in Brazil of 651 GWh, 21% of Brazilian production (15% of total production over the period). Production benefited from growth in capacity in operation (+3%) and better solar and wind resources in Brazil.
Production in the third quarter 2025 reaches 1.3 TWh, compared with 1.2 TWh in the third quarter 2024 (+6%). The rise in production is due to higher resource levels in Brazil and increased operating capacity, notably from Helexia in Europe and Brazil.
Quarterly production analysis by country:
Turnover for the third quarter of 2025 from Energy Sales reaches 85.2 million euros, down -13% (-10% at constant exchange rates). The capacity increase coupled with better resource levels in Brazil did not offset the cumulative unfavourable effects of (i) the EUR/BRL exchange rate, (ii) the curtailment in Brazil, (iii) the price impact in France and Albania, after benefiting from the favourable effects of high prices on early production in 2024.
SERVICES
Turnover for the first nine months of 2025 from third-party Services , totals 184.2 million euros, up +87% at current and constant exchange rates. The Development and Construction segment grows by 2.0x to 161.7 million euros, and the Operation and Maintenance segment by +15% to 22.6 million euros.
Turnover of the third quarter 2025 from third-party Services reaches 79.5 million euros, up 2.8x at current and constant exchange rates.
Development and Construction turnover for third-party customers reaches 72.2 million euros, up 3.4x (at current and constant exchange rates), boosted by the growth in third-party construction activity, which recorded a 4.3x turnover increase (at current and constant exchange rates). Projects currently under construction in Ireland, Spain and the United Kingdom collectively represent more than 900 MW.
Operation and Maintenance turnover for third-party customers reaches 7.2 million euros, down -2% (-1% at constant exchange rates) compared with the third quarter of 2024. Capacity operated on behalf of third parties reached 7.7 GW (up +16%), thanks to new contracts particularly in Ireland, Brazil, Portugal, in addition with Greensolver’s contracts and from positive impact of revamping work in Spain and France.
RECENT ANNOUNCEMENTS
Start of production at the Clifton Solar plant in the United Kingdom
The 45 MW Clifton solar power station, located in Dorset near Yeovil, is now operational. The company now operates four solar power and storage plants in the United Kingdom, representing a total operational capacity of 134 MW.
French Guiana: Inauguration and start of commissioning of the Sinnamary biomass plant
Voltalia has announced the start-up of its 10.5 MW biomass power plant in Sinnamary. This is in addition to two other biomass power plants, in Kourou (1.7 MW) and Cacao (5.1 MW), which are already operational in French Guiana.
Partnership with the IFC in the mining sector in Africa
Voltalia has signed a strategic partnership with the IFC, a member of the world bank group, to support the deployment of sustainable energy solutions in mining operations in Africa. Voltalia and the IFC are pooling their expertise to identify and develop power-to-mine (PTM) projects aimed at reducing mining companies' dependence on carbon-intensive energy sources.
SPRING TRANSFORMATION PLAN ROADMAP IN PROGRESS
2025 OPERATIONAL TARGETS
Voltalia confirms its operating targets for 2025:
Voltalia reminds that the Group’s net loss for the second half of 2025 is expected to be exceptionally higher than in the first half of 2025, mainly due to potential impacts (with no major effect on cash) relating to (i) the acceleration of pipeline clearance, (ii) transformation and restructuring costs related to the SPRING programme, and (iii) the impacts of geographical refocusing and strengthening the focus on our core business activities .
2027 OPERATIONAL AND FINANCIAL OBJECTIVES
2030 OPERATIONAL AND FINANCIAL OBJECTIVES
MISSION’S OBJECTIVES
UPCOMING EVENTS
PROSPECTIVE STATEMENTS
This press release contains forward-looking statements. These statements are not historical facts. These statements include projections and estimate and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. These forward-looking statements may often be identified by the words "expect", "anticipate", "believe", "intend", "estimate" or "plan", as well as by other similar words. Although Voltalia's management believes that these forward-looking statements are reasonable, investors are cautioned that forward-looking statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond Voltalia's control, that could cause actual results and events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, among others, the uncertainties inherent in the evolution of the selling price of electricity produced by Voltalia, the evolution of the regulatory environment in which Voltalia operates as well as the competitiveness of renewable energies and other factors that may affect the production capacity or profitability of Voltalia's production sites as well as those developed or identified in Voltalia's public filings with the Autorité des marchés financiers including those listed in section 2.2 "Risk Factors" of Voltalia's 2024 Universal Registration Document filed with the Autorité des marchés financiers on April 2, 2025. Voltalia undertakes no obligation to update any forward-looking information or statements, except as required by law.
Capacity in operation as of September 30, 2025
Capacity under construction as of September 30, 2025
Production as of September 30, 2025
Quarterly production (Q3) 2025
E arly generation : power sales in a short-term contract that precedes the entry into force of the long-term contract. In the case of Karavasta (Albania), the short-term contract was negotiated at a higher price than the long-term contract, such as Sud Vannier (France).
For a transmission system operator, curtailment implies limiting the transmission, for a given period, of all or part of a power plant's electrical production potential, to maintain the network's stability.
December 9, 2024 press release.
Early generation sales benefiting from electricity sales under a short-term contract that precedes the entry into force of the long-term contract. In the case of Karavasta, turnover in 2024 benefited from a short-term contract with a premium price over the first-half 2025 contract, which in turn benefits from a premium price over the terms of the long-term contract due to enter into force in the second half of 2025.
Services: Third-party services.
October 8, 2025 press release.
October 14, 2025 press release.
October 16, 2025 press release.
SPRING transformation plan press release – September 4, 2025.
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