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Africa, Asia and Oceania

Africa, Asia, Oceania

Operations

Net electricity generation

Milions of kWh
20182017Change
Wind933892414.6%
Other sources574589(15)-2.5%
Total net generation1,5071,481261.8%
- of which South Africa1,1921,156363.1%
- of which India315325(10)-3.1%

Net generation in 2018 totaled 1,507 million kWh for an increase of 26 million kWh compared with 2017. This increase is mainly attributable to the greater production of wind energy (41 million kWh), particularly in South Africa (51 million kWh) and mainly attributable to the Gibson Bay plant, which went into operation in February 2017. Compared with the previous year, adverse weather conditions resulted in a decrease in solar generation in South Africa (15 million kWh) and wind generation in India (10 million kWh).

Net efficient generation capacity

MW
at Dec. 31, 2018at Dec. 31, 2017Change
Wind farms371371--
Other323323--
Total net efficient capacity694694--
- of which South Africa522522--
- of which India172172--

Net efficient capacity in 2018 came to 694 MW, in line with the previous year

Performance

Milions of euro
201820172018-2017
Revenue1019655.2%
Gross operating margin5457(3)-5.3%
Operating income1015(5)-33.3%
Capital expenditure14230112-

The tables below show financial performance by geographical area in 2018.

Revenue

Milions of euro
20182017Change
South Africa838033.8%
India1516(1)-6.3%
Others countries3-3-
Total1019655.2%

Revenue for 2018 came to €101 million, up €5 million year on year. This increase was mainly due to the increased production and sale of electricity by the Pulida and Gibson Bay plants in South Africa

Gross operating margin

Milions of euro
20182017Change
South Africa5053(3)-5.7%
India98112.5%
Other countries(5)(4)(1)-25.0%
Total5457(3)-5.3%

The gross operating margin amounted to €54 million in 2018, down €3 million compared with 2017. The change reflects the greater costs recognized in South Africa, Australia and Morocco.

Operating income

Milions of euro
20182017Change
South Africa1318(5)-27.8%
India4-4-
Other countries(7)(3)(4)-
Total1015(5)-33.3%

Operating income totaled €10 million in 2018, a decline of €5 million taking account of an increase of €2 million in depreciation, amortization and impairment losses.

Capital expenditure

Milions of euro
20182017Change
South Africa1042777-
India27324-
Other countries11-11-
Total14230112-

Capital expenditure came to €142 million in 2018, up €112 million year on year. Investments mainly concerned photovoltaic plants in South Africa (Round 4), India (Coral) and Zambia (Scaling Solar).