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Voltalia: stock plunges on bad news from Brazil

(CercleFinance.com) - Voltalia shares have plunged 17% the day after the Brazilian transmission grid operator announced that it would be capping its electricity production in Brazil, in order to maintain grid stability.


The French renewable energies group said that this capping would have a significant impact on its EBITDA in 2024, if it were to continue over the coming months and if it were not financially compensated.

The Group anticipates an EBITDA impact of -E40m, with a possible risk of an identical scenario in H1 2025, depending on the capacity to commission new transmission lines, Oddo BHF warns.

The broker is therefore lowering its estimates for 2024 and 2027 - which were at the high end of the consensus - and is consequently reducing its target price from E12.4 to E11.4, while maintaining its 'neutral' recommendation on the share.


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