PARIS (Agefi-Dow Jones)–Renewable energy producer Albioma reported on Thursday a 27% increase in turnover for the first quarter of this year.
The increase in activity during the first three months of the year is mainly due to “the soaring prices of fuels, in particular coal and fuel oil, in a context of post-Covid economic recovery associated with the decrease in the offer since the beginning of the conflict in Ukraine,” the group commented in a press release. “The perimeter effect, linked to the integration of Albioma’s second geothermal power plant in Turkey” also explains the strong increase in revenue, Albioma said.
In the first quarter, Albioma’s revenue was €160.1 million, compared to €126 million in the corresponding period of 2021. Oddo BHF expected quarterly revenue of 132 million euros, according to FactSet. By neutralizing the evolution of fuel prices, the quarterly increase in turnover is limited to 4%.
A spokeswoman for Albioma told the Agefi-Dow Jones agency that the group’s financial objectives for 2022 were maintained. For the current year, the managers are aiming for a gross operating surplus (Ebitda) of between 210 and 220 million euros, including a charge of 3 million euros linked to the revision of solar contracts, as well as a net income group share ranging from 52 to 60 million euros.
Albioma has also indicated that it is continuing preliminary discussions with the private equity firm KKR & Co., which plans to buy the renewable energy producer.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: FXS
ALBIOMA FINANCIAL RELEASES:
https://www.albioma.com/finance/financial-publications/
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April 21, 2022 12:16 ET (16:16 GMT)