Voltalia (VLTSA) ODDO BHF Forum 2025 Presentation summary

Market context and growth drivers

• Renewable energy market is expanding rapidly, driven by global climate commitments and strong political support such as the Paris Agreement and European Green Deal.

• Renewables are projected to account for 89% of electricity generation by 2050, with cost competitiveness increasing due to high natural gas prices and technological progress.

• Demand for electrification is rising, with trends like electric vehicles and building heating accelerating the shift.

• Europe is experiencing urgent growth in local renewable capacity and energy efficiency investments, with similar trends globally.

Business model and client base

• Operates as both an independent renewable power producer and a service provider, owning solar, wind, biomass, hydro, and storage plants across Europe, Africa, and Latin America.

• 3.3 GW capacity in operation or under construction as of June 2024, with €549m turnover and €260m EBITDA.

• Serves a diversified client base including corporates, utilities, traders, financial sponsors, and states, with key clients like Rio Tinto, EDF, ENGIE, and BlackRock.

Strategic pillars and achievements

• Integrated model enables development, construction, and maintenance for both internal and third-party projects, with 2023 EBITDA from services to third parties up 6.8x since 2019.

• 98% of power volume under long-term, inflation-indexed PPAs, with €8.0 billion in future contracted revenues and 17.1 years average remaining PPA life.

• Corporate market leadership through Helexia, with 1.4 GW of corporate PPAs awarded since 2019 and rapid expansion in self-production and energy efficiency.

• Project pipeline reached 16.6 GW in 2023, up 17% from 2022, diversified across technologies and geographies, with solar now dominating.