Voltalia SA: Solid Q4 2018 rounds out a strong year

Voltalia SA Voltalia SA: Solid Q4 2018 rounds out a strong year 23-Jan-2019 / 17:45 CET/CEST Dissemination of a French Regulatory News, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.   Annual revenuesmultiplied by 2.1 for Services and increased by 5% for Energy salesat constant currency Confirmation of short-term outlookfor amaterially higher profitability   Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player in renewable energies, announces today its revenues for Q4 2018 and the 2018 fiscal year. "As anticipated,a catch-up in the second half has enabled us to achieveall-time highrevenues in 2018. Last year's performance demonstrated the double advantage of being active in non-subsidized markets, with pricing optimization of our wind farms in Brazil, and in the Services business, including for third-party clients. These two pillars of Voltalia's strategy have beeninstrumental in increasing2018 revenues and enable to confirm our outlook fora materially improved profitability", comments Sébastien Clerc, Chief Executive Officer of Voltalia.   Q4 and FY 2018 revenues In EUR million Q4 2018 Q4 2017[1] Change Change at constant currency[2] 2018 2017 Change Change at constant currency1 Energy sales 35.2 44.6 -21% -12% 131.6 145.6 -10% +5% Services 53.8 25.2 x2.1 x2.2 117.8 59.2 x2.0 x2.1 Eliminations[3] (37.4) (16.4) x2.3 x2.3 (68.9) (24.8) x2.8 x2.8 Consolidated revenues 51.5 53.4 -4% +7% 180.6 180.0 +0% +14% Other key data Production (in GWh) 619 642 -4% -4% 2 081 2 123 -2% -2% Installed capacity (in MW,end of period)   524 508 +3% +3%     Business review Energy sales Q4 2018 revenues totalled 35.2million, down by 12% at constant exchange rates compared with the record levels reached in Q4 2017. Revenueswere lowerin Brazil in Q4 2018 compared with Q4 2017. Production declined by 5%and pricing, although good in absolute terms, was not as strong asin Q4 2017 which benefited from the anticipated commissioning of a plant, in addition to contract suspensions[4]. Revenues in other countries increased thanks to the contribution of new solar plants in France. FY 2018revenuesincreased by 5% at constant exchange rates, as high pricing over the yearmore than offset a 2% decline in production. Services Q4 2018 revenues from Services grew sharply to EUR53.8 million, up 2.2 times at constant exchange ratescompared with Q4 2017. Development, Construction & Procurement revenues benefited from the fast-growing contribution of Construction, in line with intense activity for Voltalia's own plant,and fromthe sale of ready-to-build projects to Actis; Revenues from the Operation &Maintenance business were slightly aboveQ3 2018, yet lower compared with Q4 2017. Services activities have gained traction throughout the year of 2018, exceedingEUR100 million of revenues. Strong activity of Services for the Group's own assets translated into higher eliminations,parallel to the growing contribution of sales of Services to third-party clients, up by 42% compared with FY 2017. Confirmed short-term outlook The positive trends for revenues announced in the H1 results communication on September 26have materialized, with revenues up by 42% in H2compared with H1.Voltalia confirms its short-term outlook of a materially higher profitability in H2 2018 compared with H1. Q4 developments In Q4 2018 Voltalia maintained a strong commercial momentum: Mid-October,Voltalia won 10-year contracts for two battery storage units, for an installed capacity totalling 10 MW. The Stockage Mana project, located near other Voltalia projects in French Guiana, is expected to start operations at the end of 2019. Mid-November Voltalia signed a 10-year corporate power sales contract ("corporate PPA") with BRF, one of the world's largest agribusiness companies. The new contract will increase the size of Voltalia'sVSM 2 wind farm project from 64 MW to 128 MW. As for most Voltalia projects in Brazil, construction will be accelerated with turbines scheduled to beprogressively commissioned in the course of 2020. The electricity produced will be sold on the free market until the beginning of the BRF contract, in January 2021. End-November, Voltalia sold additional 54.6 MW of ready-to-build projects to internationalrenewables investor Actis, as part of the 500 MW partnership signed in September 2018[5]. Six months into the partnership, Voltalia has already sold 252 MW to Actis which proves the quality of the projects developped in its Serra Branca cluster. The Group also started the construction of three projects: Early November, Voltalia launched the construction of the Râ Solar plant in Egypt (32 MW) within the world's largest solar complex. The project will benefit from a 25-year power sales contract with the state-owned Egyptian Electricity Transmission Company ("EETC"), which will come into effect starting from the commissioning of the plant, scheduled for H2 2019. End-December, Voltaliastarted the construction work for the Tresques and Parroc solar plants in France, for a total capacity of 8 MW. Both plants should be commissioned in the third quarter of 2019 at the latest and will benefit from a 20-year power sale contract. Recent developments Last week, Voltaliaannounced the beginning of the construction of the Savane des Pères facility, a 3.8 MW solar plant coupled with a 2.6 MW / 2.9 MWh battery storage system,enabling to cover household consumption duringpeak hours. It will benefit from a 25-year contract with a secured tariff, starting from the commissioning of the plant, expected in the second semester of 2019.     Next on the agenda: FY 2018 results on March 18, 2019 About Voltalia (www.voltalia.com)   Voltalia is an international player in the renewable energy sector. The Company produces and sells electricity generated from wind, solar, hydro, biomass and storage facilities, with a total capacity of 783 MW either in operation or construction as of today. Voltalia is also a service provider, assisting its investor clients active in renewables at each project stages, from conception to operation and maintenance. With 550 employees in 18 countries over 4 continents, Voltalia is able to act worldwide on behalf of its clients. Voltalia has been listed on the Euronext regulated market in Paris since July 2014 (FR0011995588 - VLTSA) and is a component stock of the Enternext Tech 40 index and the CAC Mid&Small index. The Group is also included in theGaïa-Index, an index for socially responsible midcaps.   Voltalia Chief Administrative Officer: Marie de Lauzon Investor relations: [e-mail] [phone]  Actifin Press contact: J. Jullia  [phone]     APPENDIX Report on electricity production Total production by area and by energyin GWh Wind Solar Biomass Hydro Hybrid 2018 Total   Brazil 1,873.1       40.2* 1,913.4 France 93.0 19.9       112.9 French Guiana   4.6 10.6 24.1   39.3 United Kingdom   7.8       7.8 Greece   6.9       6.9 Portugal   1.2       1.2 Total 1,966.1 40.4 10.6 24.1 40.2 2,081.4 *includes the production of Oiapoque solar     Installed capacity by area and by energyIn MW Wind Solar Biomass Hydro Hybrid As of 12/31/2018 Brazil 417.3       16.0* 433.3 France 42.2 23.7       65.9 French Guiana   4.5 1.7 5.4   11.6 United Kingdom   7.3       7.3 Greece   4.7       4.7 Portugal   1.0       1.0 Total 459.5 41.2 1.7 5.4 16.0 523.8 *4 MW of solar and 12 MW thermal     [1]Quarterly figures calculated by difference between FY and 9M [2] 2018 revenues calculated at 2017 exchange rates [3]Eliminations: services provided by the Services business for Group-owned power plants are eliminated upon financial consolidation [4] In S2 2017, Voltalia had a total of 252 MW benefiting either from contract suspensions (60 MW at AreiaBranca and 93 MW atVamcruz) or anticipated commissioning (99 MW at Vila Para), to be compared with 159 MW over most of the year 2018 (60 MW at AreiaBranca and 99 MW at Vila Para). [5] see press release dated September 11, 2018 Regulatory filing PDF file Document title: PDF-VENG Document: http://n.eqs.com/c/fncls.ssp?u=ISTQBGGSJH

Language:	English
Company:	Voltalia SA
	84 boulevard de Sébastopol
	75003 Paris
	France
E-mail:	[e-mail]
Internet:	www.voltalia.com
ISIN:	FR0011995588
Euronext Ticker:	VLTSA
AMF Category:	Information on annual revenues

End of Announcement	EQS News Service

768987  23-Jan-2019 CET/CEST