Energia
ALBIOMA : Quarterly financial information at 31 March 2018
Excellent availability of thermal installations in France
Revenue up 6%
The excellent availability of the plants in France, the additional remuneration related to the fume treatment facilities and the good performance of Brazil have resulted in a 6% rise in revenue in the first quarter of 2018 (+5% excluding the impact of changes in fuel prices), which reached €104.2 million over the period, compared with €98.8 million in the first quarter of 2017.
1. Unaudited figures.
2. Including Spain and Italy.
Frédéric Moyne, Chief Executive Officer, said:
Revenue for the Thermal Biomass business in France rose 6% compared with the first quarter of 2017, to €91.2 million, including a contribution of €0.7 million thanks to the change in fuel prices. Stripping out the impact of changes in fuel prices, revenue for the quarter rose by 5% compared with the first quarter of 2017, underpinned by the very good performances from the plants and the additional remuneration related to the fume treatment facilities for the ALG-A and ABR-2 plants as part of the work to bring the facilities into line with the standards of the IED Directive.
The availability rate reached 91.5% in the first quarter of 2018, despite ongoing tension with the unions, compared with 91.6% in the first quarter of the previous year.
The duty rate at the Le Galion combustion turbine remained high at 31% compared with 28% in the first quarter of 2017.
The electricity production of the thermal power plants reached 485 GWh, compared with 526 GWh in the first quarter of 2017, due to scheduled shutdowns at our units and a drop in the duty rate of the base-load plants, particularly in Guadeloupe.
Revenue from the Solar Power business amounted to €9.8 million, down 6% compared with the first quarter of 2017 due to exceptionally high rainfall on Reunion Island (storms and Cyclone Berguitta).
Production reached 21 GWh in the first quarter of the year compared with 23 GWh in the first quarter of 2017.
Albioma Rio Pardo Termoelétrica and Albioma Codora Energia carried out their annual maintenance under very good conditions during the first three months of the year. Albioma Codora Energia continued to produce in January, thanks to the excess stock of bagasse from 2017. The business recorded revenue of €1.5 million over the period (compared with €1.0 million in the first quarter of 2017).
The availability of Mauritian plants is 83% (compared with 99.4% in the first quarter of 2017), due to the annual shutdown of the OTEO La Baraque plant and an accidental outage at the same plant. Production is down 20% to 267 GWh (336 GWh in the first quarter of 2017).
The Group confirms its 2018 guidance for EBITDA (€158 to €166 million) and net income, Group share (€37 to €42 million).
Next on the agenda: Annual General Meeting, 30 May 2018 at 3pm.
About Albioma
An independent responsible energy producer, Albioma is committed to the energy transition thanks to biomass and photovoltaics.
The Group, which is established in Overseas France, Mauritius and Brazil, has developed a unique partnership for 20 years with the sugar industry, to produce renewable energy from bagasse, a fibrous residue from sugar cane.
Albioma is also the leading generator of photovoltaic power overseas where it constructs and operates innovative projects with integrated storage capabilities.
Investor contact
Julien Gauthier+33 (0)1 47 76 67 00
Media contact
Charlotte Neuvy+33 (0)1 47 76 66 65
presse@albioma.com
Albioma shares are listed on Euronext Paris (sub B) and eligible for the deferred settlement service (SRD) and PEA-PME plans.
ISIN FR0000060402 - Ticker: ABIO
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