ALBIOMA
PRESS RELEASE
PARIS LA DÉFENSE, 28 OCTOBER 2014
QUARTERLY INFORMATION AT 30 SEPTEMBER 2014
Excellent performance in Brazil
In the third quarter of 2014, consolidated revenue came to €90.2 million. During the first nine months of the year, revenue totalled €256.9 million. The 2014 EBITDA and net income (Group share) objectives are confirmed.
REVENUE FOR THE THIRD QUARTER OF 2014
| 3rd quarter 2014(1) | 9 months to 30/09/2014 (1) | |||||
| In millions of euros | Q3 2014 | Q3 2013 | Change % | 2014 (9 months) | 2013 (9 months) | Change % |
| Thermal Biomass Brazil2 | 6.9 | n.a. | n.a. | 12.3 | n.a. | n.a. |
| Thermal Biomass France | 71.2 | 83.7 | -15% | 211.6 | 246.6 | -14% |
| Solar Power | 11.1 | 11.4 | -3% | 31.1 | 30.8 | +1% |
| Holding and others | 1.0 | 0.4 | n.s. | 1.9 | 2.1 | n.s. |
| Total | 90.2 | 95.5 | -6% | 256.9 | 279.4 | -8% |
Notes
(1). Unaudited figures.
(2). The Thermal Biomass business in Brazil has contributed to Group revenue since it was acquired on 31 March 2014.
BRAZIL
EXCELLENT PERFORMANCE OF THE THERMAL BIOMASS BUSINESS IN BRAZIL
Since the beginning of the sugar cane harvest in April 2014, the energy efficiency of the Rio Pardo plant has been improved thanks to the Group's technical expertise.
In the third quarter of 2014, revenue reached €6.9 million. Two-thirds of the electricity production was sold under a contract negotiated in June 2014 with favourable terms and the balance was sold on the spot market at exceptionally high prices.
For the period ended 30 September 2014, electricity production totalled 69.6 GWh and revenue totalled €12.3 million.
FRANCE & MAURITIUS
AVAILABILITY OF THE THERMAL BIOMASS BUSINESS IMPROVED IN FRANCE AND MAURITIUS
The Thermal Biomass business in France generated revenue totalling €71.2 million during the third quarter. During the first nine months of the year, this business's production totalled 1,522 GWh (compared with 1,672 GWh in 2013) and its revenue totalled €211.6 million compared with €246.6 million in 2013.
The Group has resolved the technical incidents that affected the Albioma Bois-Rouge plant on Réunion Island and the Albioma Le Moule plant in Guadeloupe (this plant was brought back into operation on 28 July 2014). The impact of these incidents on revenue is estimated at -€14.2 million and a compensation claim has been lodged with the Group's insurers.
As the Group anticipated, the return to normal of the call rate at the Galion peak-load plant in Martinique (18.2% at the end of September 2014 compared with 38.1% in 2013) was confirmed at the end of the third quarter of 2014 (resulting in a €17.4 million reduction in revenue for the first nine months of the year although the impact on profitability was limited).
The coal price continued to fall during the quarter (resulting in a €5.2 million reduction in revenue since the beginning of the year). This change did not have a direct impact on profitability as electricity sale prices are contractually indexed to fuel costs.
The very high level of technical performance of all the Group's thermal power plants since the end of July enabled the availability rate to improve and reach 89.8% by the end of September compared with 88.8% for the first six months of 2014. The Group confirmed its annual availability target of 90% to 92%.
SOLID PERFORMANCE BY THE SOLAR POWER BUSINESS
The Solar Power business generated revenue of €11.1 million during the third quarter of 2014. During the first nine months of the year, production totalled 72.7 GWh (compared with 72.9 GWh in 2013) and revenue totalled €31.1 million, compared with €30.8 million for the first nine months of 2013.
The Group has completed the construction of its first photovoltaic plant with storage capabilities, with capacity of 1 MW. The plant is installed on the rooftop of an hypermarket in Saint-Pierre, Réunion Island, and will be inaugurated on 30 October 2014.
NEW STAGE FOR ANAEROBIC DIGESTION BUSINESS
Albioma has set up a new management team to take responsibility for optimising the industrial processes used by its Anaerobic Digestion business.
Work will begin on new projects in the second half of 2015 once the Group has validated the profitability of the first plants to come into operation.
CONFIRMED OBJECTIVES
Albioma is able to confirm its objectives for the 2014 and 2016 financial years.
| In millions of euros | 2014 | 2016 |
| EBITDA | 123-126 | 160-163 |
| Net income (Group share) | 33-35 | 40-42 |
Next on the agenda: release of the annual results for the 2014 financial year on 4 March 2015 (before trading).
ABOUT ALBIOMA
Albioma is an independent electricity producer and world leader in the recovery of biomass in collaboration with its agri-business partners. For 20 years, the Group has focused on the highly energy-efficient recovery of bagasse, a fibrous by-product of sugar cane. Using this unique expertise, Albioma is developing power plants using only biomass, enabling the use also of new biomass resources such as wood residues and green waste. In addition, Albioma is building and operating agricultural anaerobic digestion units and photovoltaic installations. In 2014, the Group, which already had a presence in mainland France, the French overseas territories and Mauritius, began operating in Brazil, the world's leading sugar cane producer.
For further information, please visit www.albioma.com
| INVESTOR CONTACTS | MEDIA CONTACTS - LPM STRATEGIC COMMUNICATIONS |
| JULIEN GAUTHIER julien.gauthier@albioma.com +33 (0)1 47 76 67 00 | LUC PERINET-MARQUET lperinet@lpm-corporate.com +33 (0)1 44 50 40 35 |
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