Voltalia Reports Strong Revenue Growth but Sees Net Loss

International renewable energy company Voltalia, headquartered in Paris, has released its half-year financial results for the period ending June 30, 2026. The company reported a significant increase in EBITDA, confirming its previously set targets, while revealing a net loss for the first time in the company’s history.

Revenue for the first half of 2026 surged by 30% at constant exchange rates, reaching 331.3 million euros, with a 32% increase at current exchange rates. This growth was driven by all its activities, with Energy Sales reporting a 22% rise, Renvolt achieving a 45% increase, and Voltalia Hub showing a 20% growth, all at constant exchange rates.

EBITDA for the same period climbed 35% to 110.3 million euros at constant exchange rates. This increase was largely attributed to Energy Sales, which saw an EBITDA of 116.2 million euros, including 29 million euros in compensation for curtailment in Brazil. Excluding this compensation, Energy Sales' EBITDA stood at 87.2 million euros, a decrease of 5.5 million euros compared to the first half of 2025. The performance was underpinned by the ramp-up of new power plants, though the company noted that these were not fully offsetting less favorable resource levels and availability, particularly in Brazil and French Guiana.

Despite the strong revenue and EBITDA, the company reported a net loss of 43.3 million euros, compared to a 39.7 million euro loss in the first half of 2025. This loss was mainly due to higher financial expenses, the impact of loss-making assets, notably Helexia Brazil, and transformation costs. Additionally, the review and repositioning of Helexia’s operations in Europe further impacted earnings.

Voltalia’s CEO, Robert Klein, commented, “Twelve months after its launch, SPRING is beginning to deliver tangible operational results. The improvement in EBITDA, the reduction in development costs, and the simplification of our organization, alongside Renvolt’s strong momentum, illustrate the first benefits of this transformation. These achievements enable us to confirm our 2026 EBITDA target, though we now expect to report a net loss for the full year, reflecting higher-than-expected financial expenses and the impact of certain loss-making activities.”

The company set 2026 financial and capacity objectives, confirming a target of 3.6 gigawatts in operation and under construction, including 3 gigawatts in operation. However, the net loss in the second half of the year is expected to continue the trend observed in the first half, mainly due to higher financial expenses, the burden of certain loss-making assets, and transformation costs.

Voltalia’s strategic focus remains on operational improvement and the disposal of non-core assets. The company is targeting a divestment of 300 to 350 million euros, with most of the expected disposals to be completed by the first half of 2027. Additionally, the company is refocusing its geographical presence, planning to reduce its geographical footprint to around twelve geographies, down from the initial identification of five countries.

Looking ahead, Voltalia has reiterated its 2027 capacity and EBITDA objectives, but has suspended its goals for a positive net result in 2027 and a dividend payment in 2028. This decision was made given the current financial pressures and the company’s commitment to improving profitability and value creation sustainably.

Voltalia will host an information meeting today at 9:30 a.m. Paris time to discuss these results in more detail, with the event being broadcast live by audio webcast. Full connection details can be found on their website at www.voltalia.com/fr/investor-relations.

The key figures for the first half of 2026 show that Energy Sales accounted for 57% of turnover, Renvolt for 37%, and Voltalia Hub for 5%. Geographically, 62% of the turnover came from Europe, 32% from Latin America, and 6% from the rest of the world. The company’s EBITDA margin increased to 33%, compared to 32% in the first half of 2025, driven by the Energy Sales Business Line, which benefited from compensation related to curtailment in Brazil and the ramp-up of new power plants.

Overall, while the first half of 2026 saw significant revenue growth and confirmed EBITDA targets, the company’s net loss highlights the challenges it continues to face as it implements its strategic initiatives. The company remains focused on improving its financial health and enhancing its ability to create value.

For more detailed information, interested parties can visit www.voltalia.com/fr/investor-relations.

Key Figures: - Turnover: 331.3 million euros (+30% at constant exchange rates) - EBITDA: 110.3 million euros (+35% at constant exchange rates) - EBITDA Margin: 33% - Net Result: 43.3 million euros net loss - Capacity: 3.6 gigawatts in operation and under construction - Divestment Target: 300-350 million euros

Voltalia’s next steps will be crucial in navigating these challenges and positioning the company for future growth and profitability. The company’s upcoming information meeting will provide further insights into its strategies and plans for the remainder of the year.

**Note