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Vergnet S.A. — Earnings Release 2015
Jul 31, 2015
1744_iss_2015-07-31_415a8f1e-301d-48e9-9fe0-601acc726ba8.pdf
Earnings Release
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H1 2015 revenue: €12.5 million
Ormes, 30 July 2015
| In €m | H1 2015 | H1 2014 |
|---|---|---|
| Energy revenue (wind and solar) | 12.5 | 17.0 |
| of which Ashegoda | 3.5 | |
| Water revenue | - | 5.0 |
| Total revenue | 12.5 | 22.0 |
Stable sales in first half
Revenue in the first half of 2015 amounted to €12.5 million versus €22 million in the first half of 2014. As a reminder, the first half of 2014 included:
- Revenue of €5 million from the Water business, which was sold on 7 August 2014 to a consortium of investors,
- The final contribution of €3.5 million from the Ashegoda site in Ethiopia.
The Energy business now accounts for all Group revenues.
Business was slightly down in the first half, due to the postponed start dates of the contracts for the Kiffa hybrid solar plant in Mauritania and the Amdjarass wind power plant in Chad. However, this does not undermine the revenues to be generated by these two projects over the full year.
Several other solar and wind power projects are being negotiated in Africa and for the Pacific Islands. The results of these negotiations are expected in the second half of 2015.
Outlook for 2015: business growth and balanced operating profit target
The gradual restructuring of the Group, with the sales of new MP wind turbines and turnkey hybrid (solar and wind) energy solutions, will enable a sustainable return to growth.
Meanwhile, the recently signed agreement with the Sinovel Group provides Vergnet with an opportunity to gain a foothold in the market for building large wind farms, which will require investments and additional funding.
Vergnet Group has confirmed business growth and a balanced operating profit target for the full year.
Upcoming events
H1 2015 results: 29 October 2015 after market closure
About Vergnet SA
The Vergnet Group specialises in generating renewable energy from wind, solar and hybrid sources. On the strength of these unique technologies, the group developed the Hybrid Wizard, a hybrid system that coordinates, in real time, the percentage of renewable energies that can be sent to the electricity grid while ensuring the operational safety and security of insular or isolated networks. The group has installed 900 wind turbines.
It operates in nearly 35 countries and has 185 employees in eight offices. Vergnet has been listed on Alternext since 12 June 2007.
Contacts
Vergnet Group Actifin
Henri-Luc Julienne Ghislaine Gasparetto [email protected] [email protected]
Corporate Secretary Analyst and investor relations Tel: +33 (0)2 38 52 59 92 Tel: +33 (0)1 56 88 11 11