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Strong results from Theolia
1 March 2008
French wind project developer Theolia confirmed its prediction of strong growth in 2007 when last month it reported sales of EUR 306 million for the year, an increase of 350% over 2006 and slightly above the group's target of EUR 260-300 million. Growth was seen in its two core activities. Sales of electricity rose 1553% to EUR 54 million on the back of the full integration of subsidiary, Natenco, bought in 2006, the plant acquired in 2007 in an assets-for-equity swap with GE Energy Financial Services; and projects Theolia has developed and built itself. Sales of wind plant to third parties grew by 311% to reach EUR 218 million at year end. Theolia's most successful market was Germany, where overall sales were up 411% to EUR 263 million, while those in France rose 215% to EUR 36 million. Combined sales from these two markets posted a four-fold increase on 2006. The group added 408 MW of installed capacity during the year to reach 630 MW, including plant managed for third parties. Theolia is targeting 2000 MW of operating capacity by 2012. The group's full financial results will be published on April 14.
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