The company specializing in the operation of renewable energy projects must provision all of its participation in the Chavort power plant. It will therefore be in book losses in 2021 and will have to pass its dividend.
Méthanor will be in losses in 2021 due to provisions, no dividend | Photo credits: Bourse Direct
” Although many jobs are finished, there are still more to be done “. Too much, it seems, for the Chavort power station project, in which Méthanor held a stake and which the company specializing in the operation of renewable energy projects has decided to provision in its entirety.
” Sponsored and operated by Akuo Energy, the contracting authority, the Chavort hydropower plant, with a capacity of 2 MW, was to generate an annual turnover of 1.15 million euros. Unfortunately, the site has experienced a number of technical issues since its launch in 2018, which have resulted in operating losses every year. », Explains Méthanor in his press release.
No impact on cash flow
The company must now tackle the securing of the departmental bridge near the dam as well as several corrections to the design of the power plant. Significant amounts will be committed before the end of 2021 to implement this work.
Already provisioned in the amount of 688,000 euros at June 30, the project will be the subject of an additional 1.24 million euros, which will affect the accounts for the current financial year, closed on December 31.
For the first time since its creation in 2012, Méthanor will thus record an accounting loss at the end of this financial year, with no impact, however, on cash flow. As a consequence, too, she ” will probably not be able to distribute a dividend next year “.
The action loses 12%, to 4.20 euros.
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