PRESS RELEASE
PARIS LA DÉFENSE, APRIL 29, 2014
QUARTERLY INFORMATION AT 31 MARCH 2014
Annual maintenance of the Albioma Bois-Rouge plant brought forward
Highly satisfactory operating performance of the other Thermal Biomass plants
EBITDA and Group net income objectives for 2014 confirmed
In the first quarter of 2014 (Jan. 1 - Mar. 31), Albioma's consolidated revenues came to €80.2 million. The objectives for 2014 are confirmed.
| 1ST QUARTER (1) | |||
| REVENUES (€/millions) | Q1 2014 | Q1 2013(2) | % CHANGE |
| Thermal Biomasse | 70.1 | 80.2 | -13 % |
| Solar | 9.6 | 9.7 | -1 % |
| Holding & others | 0.5 | 1.0 | ns |
| TOTAL | 80.2 | 90.9 | -12 % |
Notes
(1). Unaudited figures.
(2). The retroactive compensatory payment (€8.4 million) obtained by the Albioma Le Moule plant from EDF following the signature of a new amendment to the long-term agreement has been reclassified under "Other operating income" instead of "Revenues" as it was in figures released for the first quarter of 2013.
1. Good performance of main business lines
The availability rate of all group's plants reaches an excellent 91.8%.
Together, the group's Thermal Biomass plants generated 808.2 GWh of electricity in the first three months of 2014.
Annual maintenance stoppage of the Albioma Bois Rouge plant brought forward
Due to technical issues affecting one of its turbo-generators, the yearly servicing of the Albioma Bois-Rouge thermal biomass plant on La Réunion, originally scheduled for the second quarter of 2014, was brought forward to the first (the previous maintenance stoppage was in the second quarter of 2013). The unavailability of this plant and the ensuing loss of 50GWh of generating capacity took away €4.3 million from revenues compared with the first quarter of 2013.
Return to normal for the Albioma Galion peak plant
The Albioma Galion peak plant on Martinique is returning to normal, with a call-out rate of 11.9% in the first quarter of 2014 compared with 28.9% in the first quarter of 2013, when demand was exceptionally high. (This change reduced energy generated by 15GWh and revenues by €5.5 million).
Continued fall in coal prices
The price of coal continued to decline in the first quarter of 2014, falling by an average 10% compared to a year earlier (reducing revenues by €2.1 million when compared with the first quarter of 2013). This trend did not have any direct effect on margins given that contracts for the sale of electricity are indexed against the cost of the fuel.
Solid performance of the Solar Energy division
Revenues at the group's Solar Energy division came to €9.6 million in the first quarter of 2014, unchanged from a year earlier. Solar power generated came to 22.5 GWh, in line with the 22.7 GWh generated in the first quarter of 2013.
2. Prospects and confirmation of 2014 targets
Brazil: The Rio Pardo Termoelétrica plant up and running for the sugar harvest
Having completed the acquisition of the totality of shares in Rio Pardo Termoelétrica cogeneration plant in the state of Sao Paulo, Albioma teams are now working on site to improve the plant's energy efficiency. The factory is now ready for the sugar harvest, which has just begun. This, the group's first project in Brazil, should have a positive impact both on EBITDA and group net profit from 2014 on.
2014 objectives confirmed
Albioma confirms its 2014 earning objectives of €123-126 million in consolidated EBITDA and €33-35 million in consolidated net profit.
Registration document for the 2013 financial year will be available on Wednesday, April 30, 2014 at www.albioma.com.
Next on the agenda: Annual shareholders' meeting at 3pm, May 27, 2014.
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ABOUT ALBIOMA
Using its unique expertise in exploiting bagasse (a by-product of sugar cane), ALBIOMA is able to produce electric energy from every type of biomass through a cogeneration process. The Group is also a pioneer of agricultural anaerobic digestion in France. It's ambition is to be recognized as agri-businesses' partner of choice for turning biomass into a highly-effective source of energy without conflict over use. In addition, ALBIOMA develops and operates high-margin solar projects.
For further information, please visit www.albioma.com
| MEDIA CONTACTS - LPM STRATEGIC COMMUNICATIONS | INVESTOR CONTACTS |
| LUC PERINET-MARQUET lperinet@lpm-corporate.com +33 (0)1 44 50 40 35 | JULIEN GAUTHIER julien.gauthier@albioma.com +33 (0)1 47 76 67 00 |
| CONSTANCE GUILLOT-CHÊNE cguillot-chene@lpm-corporate.com +33 (0)1 44 50 40 34 |
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