SECHILIENNE - SIDEC : Third-quarter 2012 update

Press Release

Paris La Défense, October 22^nd, 2012

Third-quarter 2012 update

·   Continuation of the group's growth momentum (+9%)
·   Satisfactory availability rates at the group's thermal biomass plants
·   Strong growth in the group's solar and wind power businesses

 Séchilienne Sidec's consolidated turnover came to €287.2 million in the first nine months of 2012, up 9% on the same period of 2011.

n.m. = Not meaningful. Unaudited figures

• Satisfactory performance in thermal biomass 

During the first nine months of 2012, revenues at the group's thermal biomass business division grew to €248.9 million, up 7% over the same period of 2011. The main reasons for the €15.3 million difference in revenues were:
- An excellent availability rate that climbed to 91.7% from 85.9% in the first nine months of 2011,
- The Caraïbes Energie plant entering service in March 2011,
- A drop in the price of coal mainly in the third quarter from an average of €109.5 per tonne in the first nine months of 2011 to €105.3 per tonne a year later,
- A lower call-out rate at the group's CCG peak turbine in Martinique.

 Thanks to installed capacity totaling 567.0 MW (including non-consolidated plants in Mauritius), the group's thermal biomass division produced 2,515.0 GWh of power in the first nine months of 2012, 4% more than in the same period of 2011.

• Big increase in solar power (photovoltaic) business 

Group revenues from photovoltaic energy came to €30.9 million in the nine months to Sept. 30, 2012 thanks to high guaranteed prices, up 32% on the same period of 2011. This strong increase can be explained by:

• Plants first opened in 2011 operating at full power. 

• Favorable weather conditions in French overseas departments.  

Installed capacity of 69.3 MW meant the group was able to produce 73.2 GWh of solar power, up 27% from the first nine months of 2011.

• Strong rise in wind power 

Group revenues from wind power came to €6.2 million in the first nine months of 2012, 26% higher than in the same period of 2011. This increase was largely due to:

• The coming on stream of the 6 MW Héninel wind farm in July 2011. 

• Very favorable wind conditions since this spring. 

The group's 56.5 MW of installed wind power capacity produced 69.2 GWh of energy in the first nine months of 2012, up 21% on the same period of 2011.

• Ongoing bio-methanization development  

Through its majority shareholding in Methaneo, Séchilienne Sidec continues to develop bio-methanization initiatives, with the Tiper Project in the Poitou-Charente region to be launched in May 2013. This bio-methanization plant will exploit biomass from agricultural sources (manure, fermentable vegetable waste, abattoirs waste produced by agri-business in general) without any conflict of use.

« The group put in a satisfactory performance in the first nine months of 2012. There was solid growth in all business segments, underlining the strength of our growth model. The group recently celebrated the 20th anniversary of its first bagasse power plant in La Réunion, which underlines our unrivalled experience in the area of thermal biomass energy» said Jacques Petry, Chairman and CEO of Sechilienne Sidec.

About Séchilienne-Sidec

Séchilienne-Sidec is an independent energy producer, with 20 years of experience in generating electricity from biomass resources. The group specializes in operating medium-sized power plants in complex environments where close cooperation with the industries supplying the biomass is essential. Séchilienne-Sidec is also a leading producer of photovoltaic power-generated electricity.

Media contacts

HeadLand Consultancy

Sophie Ryan +33 (0)1 44 50 40 39, sryan@headlandconsultancy.com  

Constance Guillot-Chêne +33 (0)1 44 50 40 34, cguillot-chene@headlandconsultancy.com  

Investor Contact

Julien Gauthier +33 (0)1 41 16 82 75, julien.gauthier@sidec-sa.com