VOLTALIA SA
Voltalia SA Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player in renewable energies, has entered into exclusive acquisition negotiations with the shareholders of Helexia Helexia, a solar pioneerand a reference player with a strong proximity tocorporates In 10 years, Helexia has become a reference player in large photovoltaic (PV) rooftops and energy efficiency thanks to its talented staff of 60 and the recognition of its clients from the industry and service sectors. With over 222 PV rooftop projects[1] managed in 4 countries (France, Belgium, Italyand Portugal), 51.4 MW of installed capacity and 7.5 MW under construction, Helexiaenjoysan excellent track-record and a wide know-how. Helexia teams develop, build and operate solar projects owned by the Company. Thanks to adirect commercial relationship with large corporations, Helexiaoffersenergy efficiency servicesto reduce theelectricity consumption of its clients as well asthe installation of PV rooftops. Helexia's revenues are strongly growing: +38% CAGR over the 2013-2018 period. In 2018, revenues reached 14 million euros,with an EBITDA margin of 49%. A one stop shop for corporations to benefit from the drop in solar costs Over the past 10 years, the world total solar installedcapacityhas been multiplied by 17[2]. This growth includes ground and roof mounted solar plants. With the drop in the cost of photovoltaic technologies (- 88% over the last 9 years[3]),solarenergy is already competitive compared to fossil fuels in many regions of the world, making subsidies unnecessary. In this context, more and more companies install PV rooftops on their large buildings to produce electricity, to beself-consumed or injected into the grid. In parallel, large corporates such as BRF[4] in Brazil or Boulanger[5] in Francehave today an economic interest in signing corporate PPAs(Power Purchase Agreements) to purchaserenewable energy. Large corporates are thusrisingas a new client base for Voltalia, in addition to large historical utilities. With the contemplatedacquisition, and to adapt to this new energetic situation, Voltalia is building a platformin Europe and emerging countries to offer cheap renewable electricity (corporate PPAs), PV rooftops used for self-consumption or injectioninto the gridand energy efficiency services to corporates.
Transaction conditions and value creation perspectives Helexia is currently owned by the Mulliez famillyvia Creadev, which is also Voltalia's majority shareholder.The entry into exclusive negotiations was approved by Voltalia's Boardwithout the Creadev and Mulliez family representatives taking part in eitherthe deliberations or the vote, and the acquisition price, which may be paid in Voltalia's shares, willbe evaluated by an independent expert. As of today, 35% of Helexia's installed capacity is located on the roofs of retailerscontrolled by the Mulliez family: Auchan, Decathlon, Leroy-Merlin,Boulanger. These retailers represent numerous buildings in more than 50 countries, for which Helexia will continue to offer its services. Furthermore, the management of both companies hasidentifieda number ofsynergies facilitated by the geographic proximity of the two players: creating a coordinated commercial offer to clients from the industry and services sectors, implementing Helexiain emerging countries where Voltalia is already present, mutualizing supervisionservices of PV rooftops and savings on purchases. The definitive signing of the documentation and the finalizing of the transaction are expected duringthe third quarter of 2019, after consultation ofstaff representative bodies andsubject to the parties' agreementson the transaction'sfinal terms. "This acquisition project is in line with our growth strategy in solar energy whose competitivenessis on the rise. With Helexia, we ambition tobuilda green energyone stop shop for corporates: we would enable clients to benefit from the dropin renewables' costs, by offering them cheaper electricity and energy efficiency services." comments Sebastien Clerc, CEO of Voltalia. A shared vision and a growth projectthat has the support of teams Voltalia and Helexiahave known each other and worked together for the past 10 years. "We are looking forward to the prospect ofjoining teams animatedby the same values as ours, at the service of a green and competitive energy. Togetherwith Voltalia we intend to serve our clients in a larger number of countries, especially emerging, and offer them, along with our existing solutions, power purchase contractsforcheap electricitycoming fromVoltalia's plants" adds Nicolas Mayaud, CEO of Helexia
Next on the agenda: the Group will unveil itsnew ambitions during a Capital MarketsPresentation on June 6, 2019(before trading)
About Voltalia (www.voltalia.com)
[1]PV rooftops on large buildings(large commercial areas, warehouses, industrial buildings.) and solar carports (located on parking lots these structuresprotectvehiclesfrom sun and rain) [2]BNEF, World Energy Outlook 2018 [3]Lazard, Levelized Cost of Energy Analysis 2018 [4]Voltalia's press release of November 14, 2018 [5]Voltalia's press release of May 21, 2019 Regulatory filing PDF file Document title: PDF-VENG Document: http://n.eqs.com/c/fncls.ssp?u=DMPQVASBQG |
| Language: | English |
| Company: | Voltalia SA |
| 84 boulevard de Sébastopol | |
| 75003 Paris | |
| France | |
| E-mail: | invest@voltalia.com |
| Internet: | www.voltalia.com |
| ISIN: | FR0011995588 |
| Euronext Ticker: | VLTSA |
| AMF Category: | Inside information / Issuer activities (acquisitions, sales...) |
| EQS News ID: | 814907 |
| End of Announcement | EQS News Service |
814907 23-May-2019 CET/CEST
