Core Insights - Voltalia reported a half-year EBITDA of 78.3 million euros, a decrease of 4% compared to the same period in 2024, with a forecasted EBITDA for the full year of between 200 and 220 million euros [3][6][47] - The company confirmed its production and capacity targets for 2025 despite facing operational challenges due to curtailments in Brazil and unfavorable exchange rates [2][36][47] - The SPRING transformation plan aims to enhance operational efficiency and profitability, with initial measures already being implemented [4][41][40] Financial Performance - Turnover for the first half of 2025 reached 257 million euros, an increase of 8% at current exchange rates, driven by a 50% growth in Services for third-party clients [3][7] - The net loss attributable to the group was 39.7 million euros, significantly higher than the 15.7 million euros loss in the first half of 2024, primarily due to fewer project disposals and costs associated with the SPRING plan [9][30] - Energy production increased by 14% to 2.4 terawatt hours, despite a curtailment of 268 gigawatt hours in Brazil, which accounted for 14% of Brazilian production [3][13] Operational Highlights - Capacity in operation and under construction rose by 7% to 3.3 gigawatts, with 2.5 gigawatts currently operational and 0.8 gigawatts under construction [3][14] - The company’s operational capacity for third-party customers increased by 20% to 7.7 gigawatts [3][14] - The SPRING plan focuses on refocusing the business on core activities, clarifying the operating model, and improving performance through efficiency and optimization [3][41] Market Context - The Brazilian grid operator's production curtailment has impacted Voltalia's operational performance, necessitating adjustments in production forecasts [2][36] - The average EUR/BRL exchange rate was 6.30 in the first half of 2025, compared to 5.49 in the same period of 2024, affecting revenue from energy sales [15][27] - Voltalia's strategic focus remains on sustainable growth and value creation in the renewable energy sector, with a clear roadmap established through the SPRING transformation plan [41][56]

Core Insights - Capstone Infrastructure Corporation announced its financial results for Q2 2025, with detailed Management's Discussion and Analysis (MD&A) available for review [1] - The Board of Directors declared a quarterly dividend of $0.2314 per Preferred Share, payable on or about October 31, 2025, to shareholders of record by October 15, 2025 [2] - The dividends on Preferred Shares are designated as "eligible" dividends under the Income Tax Act (Canada), allowing for an enhanced dividend tax credit for Canadian residents [3] Company Overview - Capstone is focused on driving the energy transition through clean and renewable energy projects across North America, with a portfolio of approximately 885 MW of installed capacity across 35 facilities, including wind, solar, hydro, biomass, and natural gas power plants [4]

Core Insights - Voltalia reported a turnover of 147.7 million euros in Q2 2025, representing an 11% increase compared to Q2 2024, with a 16% increase at constant exchange rates [2][8] - Energy production increased by 13% to 1,257 GWh in Q2 2025, driven by higher resource levels in Brazil and increased operating capacity [10][34] - The company is finalizing its SPRING strategic plan, aimed at enhancing competitiveness and agility in the rapidly evolving renewable energy sector [3][24] Financial Performance - Q2 2025 turnover breakdown: Energy Sales at 81.7 million euros (down 13%), Services at 65.9 million euros (up 69%) [4][8] - First-half 2025 turnover reached 257 million euros, up 9% at current exchange rates, with Energy Sales down 9% and Services up 50% [7][12] - The average EUR/BRL exchange rate was 6.30 in H1 2025, compared to 5.49 in H1 2024, impacting turnover [9] Operational Indicators - Energy production for H1 2025 was 2.4 TWh, a 14% increase despite curtailment in Brazil [6][29] - Total capacity in operation and under construction reached 3.6 GW, a 10% increase compared to 2024 [29][35] - Capacity operated for third-party clients increased by 20% to 7.7 GW [6][17] Services Segment - Services turnover for Q2 2025 was 65.9 million euros, with Development and Construction turnover at 57.8 million euros (up 79%) and Operation and Maintenance at 8.1 million euros (up 23%) [14][15] - The company has initiated the winding down of its Equipment Procurement business segment, affecting turnover restatements [39] Market Context - The renewable energy market is experiencing rapid changes, and Voltalia aims to leverage these challenges for sustainable growth [3][24] - The company is actively addressing curtailment issues in Brazil, which amounted to 268 GWh in H1 2025, representing 14% of Brazilian production [18][19]

Core Points - Voltalia held its Annual General Meeting on May 15, 2025, in Paris, where all proposed resolutions were adopted [1][12] Voting Results Summary - The approval of statutory financial statements for the year ended December 31, 2024 received 202,353,232 votes for (99.99%) and 4,984 votes against (0.01) [2] - The approval of consolidated financial statements for the year ended December 31, 2024 received 202,352,506 votes for (99.99%) and 5,408 votes against (0.01) [2] - The allocation of net income for the year ended December 31, 2024 received 202,345,581 votes for (99.99%) and 11,409 votes against (0.01) [2] - The renewal of the term of office as director for Sarah Caulliez received 191,539,101 votes for (95.46%) and 9,114,170 votes against (4.54) [2] - The appointment of new directors Mr. Alexis Grolin and Mr. Bertrand Cousin received 191,963,604 votes for (95.67%) and 191,901,337 votes for (95.64%) respectively [2] - The approval of compensation for the President of the Board of Directors, Laurence Mulliez, received 185,896,774 votes for (92.19%) and 15,755,370 votes against (7.81) [2] - The approval of the 2025 compensation policy for corporate officers received 200,220,113 votes for (99.91%) and 182,997 votes against (0.09) [4] - The overall limits on the number of issues carried out by virtue of the above-mentioned delegations of authority received 199,173,808 votes for (98.43%) and 3,181,897 votes against (1.57) [6] Shareholder Participation - A total of 867 shareholders were present, represented, or voting by mail at the Ordinary General Meeting [3] - The number of voting rights exercisable as of May 15, 2025, was 220,371,887, with total votes represented in the vote on the resolutions submitted to OGM being 202,370,496 [3] Company Overview - Voltalia is an international player in renewable energies, producing and selling electricity from wind, solar, hydro, biomass, and storage facilities, with a total capacity of 3.3 GW in operation and under construction, and a project portfolio of 17.4 GW [8] - The company employs over 2,000 people across 20 countries on 3 continents, enabling it to operate globally [10] - Voltalia is listed on the Euronext regulated market in Paris and is included in various indices such as Enternext Tech 40 and CAC Mid&Small [11]

Core Viewpoint - Voltalia reported a resilient start to Q1 2025 with a turnover increase of +2% to 113 million euros, driven by strong growth in Services, which offset a temporary decline in Energy Sales [2][6]. Financial Performance - Q1 2025 turnover reached 113.3 million euros, up +2% compared to Q1 2024, and +7% at constant exchange rates [3][6]. - Energy Sales decreased by -6% to 70.4 million euros, but increased by +1% at constant exchange rates [3][9]. - Services for third-party clients saw a significant growth of +19% to 42.9 million euros, both at current and constant exchange rates [3][12]. Operational Indicators - Energy production increased by +15% to 1.1 terawatt hours (TWh) [5][7]. - Capacity in operation reached 2.5 gigawatts (GW), with total capacity in operation and under construction at 3.3 GW, reflecting a +10% increase compared to 2024 [5][25]. - The company aims for operational objectives of 3.6 GW in operation and construction, and 5.2 TWh of production [5][25]. Strategic Initiatives - The SPRING transformation plan is currently in its diagnostic phase, expected to be completed by June 2025, aiming to enhance sustainable profitability and operational agility [5][17][19]. - The conclusions of the SPRING plan will be presented alongside the 2025 half-year results, with an action plan to follow [18][19]. Geographic Performance - Turnover distribution: 60% in Europe, 35% in Latin America, and 5% in Africa [6]. - In Brazil, production increased by +16%, while production in France fell by -14% due to resource challenges [11][27].