Spain’s credit rating upgraded to ’A+’ by S&P on strong growth
Investing.com -- Voltalia shares dropped 5% following the company’s half-year results showing declining profitability despite revenue growth, as higher depreciation and amortization costs significantly impacted earnings.
The renewable energy company reported an 8% increase in revenue to €257 million for the first half of the year, while EBITDA decreased 4% to €78.3 million (though up 3% at constant exchange rates). The company maintained a 30% EBITDA margin, but higher depreciation and amortization expenses pushed EBIT down by two-thirds to €9.9 million. Net losses deepened to €39.7 million due to flat financing costs and higher taxes.
Operationally, Voltalia increased production by 14% to 2,373 GWh, outpacing the 3% growth in installed capacity, which reached 2,524 MW. The company benefited from improved load factors in both solar and wind operations in Brazil, along with reduced curtailments in the country compared to last year (14% versus 21%). Total capacity in operation and under construction grew 7% YoY to 3,279 MW, while capacity operated for third parties increased 20% to 7.7 GW.
Voltalia confirmed its operational targets while providing new financial guidance, projecting EBITDA between €200-220 million. The company warned of greater losses in the second half of 2025 due to restructuring costs and impacts from refocusing on core activities.
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