(AOF) – Through its third employee shareholding plan, Voltalia is offering a new opportunity to its eligible employees to participate in the growth and success of the company. This plan reflects its strong desire to attract and retain talent. With this operation, Voltalia is entering a new stage, after the implementation of profit-sharing at the end of 2017, followed by its first year of application in 2018 and employee shareholding plans deployed in 2019 and 2022.
Previous employee shareholding plans had benefited from strong support from employees with a participation of 70%, positioning the company among those which recorded the highest participation rate for a program integrating an international scope, according to figures from the Federation French Association of Employee Shareholders (FAS).
This third plan proposes an offer of existing shares reserved for employees of the Voltalia group in France, Brazil, Greece, Spain, Italy, Portugal and the United Kingdom.
Eligible employees will thus have the opportunity to purchase Voltalia SA shares under attractive conditions, as part of the Voltalia group savings plan.
The subscription period opens on May 15 and will close on May 29, 2024 inclusive.
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Key points
– Independent energy producer and service provider across the entire renewables value chain, created in 2005;
– Turnover of €469 million, divided between energy sales (wind, solar, hydro, biomass and storage) for 52% and services;
– Capacity of 2.6 GW in operation and construction and 4.4 GW of assets under management, for the group or on behalf of third parties, with an installed capacity of 44% in solar, 51% in wind and 5% in biomass , 69% in Latin America and 25% in Europe;
– Integrated business model for a complete value chain (development of renewable projects, engineering and construction, operation and maintenance), duplicated in 2 businesses – renewable energy producer and service provider and capital efficient through use of “Corporate PPA”, electricity contracts linking the company to the electricity producer;
– Capital controlled 71.3% by the Mulliez family, Laurence Mulliez chairing the board of 7 directors and Sébastien Clerc being general manager;
– Balance sheet under control after the capital increase of November 2022, with €1.34 million in equity and €384 million in cash compared to a financial debt of €1.31 billion.
Challenges
– 2027 strategy for growth above the market:
– diversification: more ground and roof solar, services, storage and strong expansion outside Brazil,
– limitation of capital expenditure by growth of service activities and by use of “Corporate PPAs”, electricity contracts linking the company to the electricity producer,
– selectivity of projects, carried out independently or with strategic partners;
– owned capacity of + 5 GW operated and under construction and capacity operated on behalf of third parties greater than 8 GW
– gross operating profit of around €475 million;
– Innovation strategy serving the environmental strategy:
– reduction of environmental impact: after 564 kt of COe avoided in 2022, objective of + 4 Mt of CO2 avoided in 2027,
– preservation of biodiversity by impact study before construction,
– borrowings aligned with ISG criteria;
– Rapid ramp-up of Helexia, specialist in energy efficiency and optimization programs on sites -148 MW installed, 449 MW in portfolio
– After 1,128 MW of new contracts won in 2022, 2.7 GW in operation and nearly 1 GW under construction at the end of June;
– Visibility of the activity with sales contracts with an average duration of 16.5 years, 78% of future revenues being indexed to inflation.
Challenges
– Sensitivity of the business to the weather (winds and sunshine), hence an increase in losses in 2022, also affected by power plant sales;
– After the sale, associated with a development contract, of a solar power plant to the Brazilian Newave Energia, awaiting other sales accompanied by service contracts, reflecting the strategic option of positioning as a developer;
– Continued winning of “Corporate PPA” contracts.
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