December 7, 2016 / 7:39 AM / 6 days ago

BRIEF-Voltalia FY Net Profit Group Share Down At 4.6 Million Euros

March 23 (Reuters) - VOLTALIA SA:

* 2020 OBJECTIVES MAINTAINED IN A LESS PREDICTABLE ENVIRONMENT DUE TO COVID-19 SITUATION

* 2023 ROADMAP ALREADY WELL UNDERWAY AND FULLY FINANCED

* FY EBITDA EUR 65.1 MILLION VERSUS EUR 76.2 MILLION YEAR AGO

* FY NET PROFIT GROUP SHARE EUR 4.6 MILLION VERSUS EUR 8.5 MILLION YEAR AGO

* ON CORONAVIRUS: COVID-19 CRISIS WILL CREATE OPPORTUNITIES THAT CAN BE SEIZED BY STRONG PLAYERS SUCH AS VOLTALIA

* FOR FY SOLID BALANCE SHEET WITH MORE THAN EUR 400 MILLION CASH AVAILABLE

* 2023 AMBITIONS CONFIRMED AND FULLY FINANCED

* FY REVENUES EUR 175.5 MILLION VERSUS EUR 180.7 MILLION YEAR AGO

* HOWEVER,THE COVID-19 SITUATION CAN AFFECT SOME OF VOLTALIA’S SUPPLIERS WHICH COULD DELAY CONSTRUCTION OF SITES TO BE COMPLETED IN 2020, EVEN THOUGH SUPPLY OF EQUIPMENT IS ALREADY CONTRACTEDFOR PLANTS CURRENTLY UNDER CONSTRUCTION

* COVID-19 SITUATION CAN AFFECT SOME OF VOLTALIA’S SUPPLIERS WHICH COULD DELAY CONSTRUCTION OF SITES TO BE COMPLETED IN 2020

* IN ADDITION,SINCE THE COVID-19 OUTBREAK, BRAZILIAN REAL (BRL)WEAKENED VERSUS EURO

* ON CORONAVIRUS: BUSINESSWISE, COMPANY EXPECTS NEITHER SHORT- NOR LONG-TERM IMPACT ON ITS 717 MW ONGOING ENERGY SALES ACTIVITY, WITH PRODUCING ASSETS SELLING POWER AT CONTRACTED PRICE UNDER LONG-TERM AGREEMENTS

* 2020 EBITDA GUIDANCE IS SENSITIVE TO EUR/BRL EXCHANGE RATE, WHICH HAS BEEN VOLATILE SINCE COVID-19 OUTBREAK

* LOOKING BEYOND 2020, VOLTALIA BENEFITS FROM A NATURAL LONG-TERM CURRENCY HEDGE SINCE LONG-TERM SALES CONTRACTS PROVIDE FOR PRICES INDEXED ON INFLATION Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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