Renewables firm Voltalia pulls profit forecasts, shares slump (updated)

Voltalia SA

03/09/2026 06:50

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Sept 3 (Reuters) - French renewable energy company Voltalia VLTSA.PA scrapped its net profit forecasts for 2026 and 2027 on Thursday, saying it expected to end this year with a loss, which sent its shares tumbling 17% in the first hours of trading.
The shares were on track for their steepest one-day drop in two years as of 0918 GMT, having touched their lowest price since 2014 earlier in the session.
Voltalia, which is controlled by the Mulliez entrepreneur family, now expects to report a net loss for 2026, reversing a previous forecast for a profit, citing higher-than-expected financial expenses, transformation costs and the impact of underperforming assets.
It also suspended the target for a positive net result in 2027 and scrapped plans for a 2028 dividend payment.
Voltalia, which has faced investor scrutiny this year over its high debt levels and recurring curtailment of its Brazilian wind and solar output, however reiterated its 2026 targets for installed capacity and earnings before interest, taxes, depreciation and amortisation.
As part of a broader transformation plan, the company said it was in talks to exit or dispose of assets in two more national markets, with an aim to narrow its footprint to around 12 geographies.
Its half-year EBITDA rose 30% at constant exchange rates to €110.3 million ($128.0 million), while net loss widened to €43.3 million from €39.7 million a year earlier. 
"A disappointing set of results, both in terms of EBITDA growth and the underlying figures," Portzamparc analysts said in a note to investors.
($1 = 0.8619 euros)

(Reporting by Hugo Lhomedet and Zakarya Meliani; Editing by Muralikumar Anantharaman and Milla Nissi-Prussak)
((hugo.lhomedet@thomsonreuters.com))