French renewable energy producer Voltalia SA removed its profit forecasts for 2026 and 2027 on Thursday, citing higher financial expenses, transformation costs and underperforming assets, sending its shares down as much as 17.85% to €5.34 in early trading.
The company, controlled by the Mulliez family, now expects to post a full-year net loss in 2026, reversing prior expectations for a positive result. Voltalia also suspended its 2027 target for a positive net result, while reiterating its 2026 targets for installed capacity and EBITDA. The move follows a 30% rise in first-half EBITDA at constant exchange rates to €110.3 million, though net losses widened to €43.3 million from €39.7 million a year earlier.
Voltalia’s shares fell to their lowest level since 2014 during the session, marking the steepest single-day decline in nearly two years. The company attributed the profit forecast withdrawal to elevated debt levels and persistent production cuts at its wind and solar projects in Brazil. Management also indicated ongoing negotiations to divest assets in two additional markets, aiming to reduce its geographic footprint to around 12 regions.
Despite the operational challenges, Voltalia maintained its 2026 EBITDA and capacity targets, though it abandoned dividend plans for 2028 and withdrew its 2027 net profit outlook. The company’s financial strain reflects broader pressures in the renewable energy sector, where rising costs and project underperformance have weighed on profitability.
