France · Delayed Price · Currency is EUR Voltalia Earnings Call Transcripts
Fiscal Year 2026
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SPRING transformation is driving operational and financial improvements, with strong EBITDA growth and cash generation, but higher financial costs and loss-making assets lead to a projected net loss for 2026. Disposal program timing and curtailment remain key uncertainties.
Fiscal Year 2025
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2025 was a pivotal year, with strong service growth and operational expansion but a net loss due to curtailment and transformation costs. The SPRING plan is streamlining operations, targeting EBITDA of EUR 210–230 million and a positive net result in 2026, with dividends expected from 2028.
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Revenue and capacity grew, but profitability remains under pressure due to curtailment and market complexity. The new 'Spring' plan targets refocusing on core geographies, streamlining operations, and self-financed growth, with positive net results and dividends expected from 2026 and 2028, respectively.
Fiscal Year 2024
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Operational capacity grew 6% to 3.3 GW, with energy sales up 20% and EBITDA at EUR 215 million. Net loss of EUR 21 million was driven by Brazilian curtailment and equipment supply decline. SPRING transformation aims to boost returns and streamline operations.
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Power generation, turnover, and EBITDA all saw double-digit growth in H1 2024, supported by a robust project pipeline and strong financial management. However, Brazilian grid curtailment could reduce full-year EBITDA by up to €40 million if unresolved, though medium-term growth targets remain on track.