Press Release
Financial information for the quarter ended
Sharp rise in revenue for the first quarter (+27%); excluding the fuel price effect, the increase in revenue was 4%
Very good performance of thermal power plants in Overseas France
Positive contribution of the second geothermal power plant in
Group revenue for the first quarter of 2022 was up sharply (by 27% compared with the first quarter of 2021).
This increase was due to:
- the surge in fuel prices, particularly coal and fuel oil, in a context of post-COVID economic recovery combined with a decline in supply since the onset of the conflict in
Ukraine ; excluding the fuel price effect, the increase in revenue was 4%; - the very good performance of the thermal facilities in French Overseas Territories;
- the scope effect linked to the integration of Albioma’s second geothermal power plant in
Turkey .
Q1 2022 | Q1 2021 | Change (%) | |
France – Thermal Biomass | 143.1 | 110.9 | +29% |
France – Solar1 | 10.8 | 11.4 | -5% |
2.5 | 2.6 | -1% | |
Geothermal | 3.3 | 0.8 | N/A |
Holding company and other | 0.3 | 0.4 | ns |
Total | 160.1 | 126.0 | +27% |
- Including
Spain andItaly .
France
Thermal biomass
Very good availability of the plants during the quarter
Revenue from the Thermal Biomass business in
Excluding the effect of fuel prices, revenue increased by 4% thanks to the good availability of the facilities, maintenance shutdowns during the quarter having been carried out without problems.
The availability rate was 90.5% in the first quarter of 2022, as against 83.3% in the first quarter of 2021 and power generation from thermal facilities reached 399 GWh, compared with 437 GWh in the first quarter of 2021, reflecting the continued decline in call rates by EDF in Réunion in connection with the high prices of coal and CO2.
Construction and development of projects
Work continues on converting Albioma’s Bois-Rouge power station to 100% biomass
Conversion of the Bois-Rouge power plant to 100% biomass moved ahead smoothly in the early part of 2022. Total discontinuation of the use of coal is scheduled for the end of 2023. Priority will be given to valorising locally available biomass resources (bagasse, forest wood, pruning wood, etc.), supplemented by imports of wood pellets that are traceable in accordance with the
Conversion of Albioma’s Le Gol power plant to 100% biomass
The Group has taken due note of the publication of the deliberation of the French energy regulator (the CRE, Commission de Régulation de l’Énergie) of
Stable production
Revenue from the Solar business was down by 5%, at €10.8 million. This includes the declines resulting from the reduction of the “S06-S10 tariffs” (feed-in tariffs for PPAs signed before 2011).
Production reached 28 GWh in the first quarter of the year, compared with 29 GWh in the first quarter of 2021.
Development of projects
The Group continued the development and construction of photovoltaic power plant projects in all regions during the quarter.
Thermal biomass
Off-season plant maintenance
Between sugar seasons in the first quarter, the Group’s four plants carried out their annual maintenance.
The business recorded revenue of €2.5 million (compared with €2.6 million in the first quarter of 2021).
Geothermal
Integration of the Kuyucak Jeotermal Elektrik Üretim A.Ş. power plant and production in line with expectations
The Group’s two geothermal power plants achieved good performances during the quarter. Production reached more than 45 GWh in the first quarter, in line with expectations. Production of the Gümüskoÿ power plant was up by 38% relative to the first quarter of 2021.
By way of reminder, the Group acquired the Kuyucak Jeotermal Elektrik Üretim A.Ş. power plant on
Change in governance
On
Continuation of discussions with KKR
On
Next on the agenda: Annual General Meeting,
About | Contacts |
The Group operates in Overseas France, For 30 years it has been developing a unique partnership with the sugar industry, producing renewable energy from bagasse, a fibrous residue of sugar cane. In 2021, | Investors +33 (0)1 47 76 67 00 Media Charlotte Neuvy +33 (0)1 47 76 66 65 presse@albioma.com |
The Group is also listed in the Gaïa Index of socially responsible midcap companies. | www.albioma.com |
Attachment
- Albioma_CP_20220421_ENG
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