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voltalia SOLAR • WIND • HYDRO BIOMASS • STORAGE PRESS RELEASE 21 April 2021 Excellent first quarter • • Q1 2021 revenues : + 73 % to € 63.9 million Energy sales : strong revenue growth , despite a deteriorating exchange rate , driven by new power plants and a very good level of resource levels in Brazil compared with Q1 2020 Services : strong revenue growth driven by sales to third - party clients Objective and short and medium term ambitions reiterated • 2021 : normalised EBITDA¹ target of around € 170 million confirmed despite the ongoing COVID - 19 crisis • 2023 : an ambition of 2.6 GW in operation and under construction , fully secured by long - term contracts , of which more than 1 GW contracted in 2020 , and a normalised EBITDA of € 275-300 million Voltalia ( Euronext Paris , ISIN code : FR0011995588 ) , an international player in renewable energies , announces today its revenues for the first quarter of 2021 . " Voltalia is now reaping the rewards of the efforts made in previous years : the company has had an excellent first quarter , both for Energy sales and Services . Despite a further deterioration in exchange rates , the high levels of activity recorded over the first three months of the year demonstrate the acceleration of our growth trajectory and allow us to confirm our short and medium term objective and ambitions " , commented Sébastien Clerc , Voltalia's CEO . First quarter 2021 revenues In € million Energy sales Services Eliminations Consolidated revenues Q1 2021 Q1 2020 Change at current exchange rates Change at constant exchange rates * 40.4 30.1 + 34 % + 62 % 29.4 21.2 + 38 % + 41 % -5.8 -14.3 -59 % -55 % 63.9 37.0 + 73 % + 95 % * The average EUR / BRL exchange rate at which revenues for the first quarter of 2021 were determined was 6.59 . BUSINESS REVIEW First quarter consolidated revenues amount to € 63.9 million , up strongly by + 73 % at current exchange rates despite the continued deterioration in exchange rates , and + 95 % at constant exchange rates . Energy Sales and Services contributed 63 % and 37 % respectively to the quarter's consolidated revenues . Revenues outside Brazil accounted for 64 % of total consolidated revenues for the period . 1 " Normalised " means calculated with an annual average EUR / BRL exchange rate of 6.3 and a long - term average wind , solar and hydraulic resource . 1