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Albioma

Earnings Release Nov 4, 2009

1094_iss_2009-11-04_7b3d0eec-393b-44b5-a708-78dbb49d081f.pdf

Earnings Release

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PRESS RELEASE – Quarterly report

Courbevoie, November 4th, 2009, 5.45 pm

Consolidated Group revenues of € 184 million for the first 9 months of 2009, down 13.2%

  • Significant impact of the reduction in energy feedstock prices
  • Strong operational performance of power plants despite incidents
  • Continued development of thermal and photovoltaic projects

1. Consolidated group sales1

Euros millions
Business sector Cum. sales at rd Quarter
3
Cum. sales at rd Quarter
3
Sept. 30th,2009 2009 Sept. 30th,2008 2008
Thermal 171,5 59,6 200,0 75,6
Wind 3,8 1,0 2,8 0,9
Photovoltaic 7,7 1,9 8,5 4,9
Operation 5,2 1,9 1,6 0,8
Other sales* 2,5 0,0 6,9 4,1
Holding 1,3 0,5 1,1 0,4
TOTAL 184,3 63,1 212,4 81,8

*Panels and photovoltaic installations sales

Séchilienne Sidec reports consolidated sales of Euros 63.1 million for the 3rd quarter of 2009. Cumulated consolidated revenues at 30th September 2009 amount to Euros 184.3 million, down 13.2% compared to the same period of 2008.

This decrease was primarily due to the sharp decline in energy feedstock prices, which impacted thermal sales due to the indexation mechanism that links energy selling prices and power plants energy feedstock costs. This impact is even more significant for this 3rd quarter 2009, since the corresponding period in 2008 featured a strong increase of those costs.

The impact of technical incidents and strikes that occurred respectively in CTBR and CTM power stations was partially offset by the strong operational performance of other units in Reunion Island and Martinique.

The rise in turnover generated by electricity sales of the photovoltaic division reflects the growing number of units in operation.

2. Highlights

  • Thermal power plants
  • A fire broke out on August 30th in the electrical room of CTBR-1 causing a temporary outage on its two units. During this period, CTBR – 2 and CTG power plants were operated at high capacity and delivered a high availability ratio.

1 The Group's consolidated sales include Séchilienne Sidec SA sales as well as the sales of its fully or proportionally consolidated subsidiaries in Reunion Island and Mayotte, Guadeloupe, Martinique, Spain and Mainland France. They do not include sales generated by equity-accounted investments in Mauritius.

  • CTBR 1 power station has resumed operations under normal conditions since September 28th.
  • In Guadeloupe, building works of CARAÏBES ENERGIE power plant continued at a quick pace. Foundations and most of civil engineering works have been completed and the boiler is currently being assembled.
  • Photovoltaic power plants
  • The Group's capacity either installed or under construction increased from 27.1 MW at June 30th, 2009 (of which 12.8 MW in operation) to 30.5 MW at September 30th, 2009 (of which 14.2 MW in operation).
  • During the third quarter, a total of 11.3 MW new building permits were filed, bringing the total building permits applications to 24.5 MW. The Group owns a total of 60 MW of building permits already granted.
  • The construction of the 7 MW ground mounted project of Pierrelatte Drôme is about to start.

- For Wind power plants

The Group's wind farms (operating capacity of 42.5 MW) faced less favourable wind conditions than the previous year.

3. Financing

Over the third quarter, the Group kept on implementing new financing facilities, bringing the raised funds to Euros 130 million as of September 30th, 2009.

The Group has signed in October Euros 25 million additional project financing contracts (Pierrelatte included).

As of September 30th 2009, the Group has a total installed energy production capacity of 586 MW.

* * * Next financial release on February 11th 2009: Q4 revenues (after trading hours)

* * *

About Séchilienne-Sidec - ISIN: FR0000060402 – SECH

Founded 25 years ago, Séchilienne-Sidec is an independent energy producer specialised in electricity generation in medium size coal/biomass, photovoltaic and wind power plants. Due to its technical expertise, its project management experience and the quality of its teams of engineers, the Group manages all stages of a power plant's life cycle: design, finance, construction and operation, all over the world and more specifically in complex environments.

* * *

Contacts Investor Relations Press Relations

Séchilienne-Sidec +33 (0)1 41 16 82 00

Citigate Dewe Rogerson Agnès Villeret - 33 (0)1 53 32 78 95 - [email protected]

Citigate Dewe Rogerson Servane Taslé - 33 (0)1 53 32 78 94 - [email protected]

Please visit our website for more information: www.sechilienne-sidec.com

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