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FY 2022 revenues reaching a record of €26.2 million (+156%)

21 July 2022

FY 2022 revenues reaching a record of €26.2 million (+156%)

 

New objectives for FY 2026
CO2eq emissions avoided annually > 10 Mtons
Revenues > €100 million
EBITDA > €50 million

 

Pontpierre, France, July 21st, 2022 – FDE (Euronext: FDE – ISIN: FR0013030152), a carbon negative energy producer, posted annual revenues of €26.2 million, up by 156% yoy, driven by a sharp increase in production volumes and favorable market prices during H2 2002.

In Euro millions 2022* 2021 % Change
H1 Sales (Jul-Dec) 9.1 4.0 + 127%
H2 sales (Jan-June) 17.0 6.2 + 174%
Annual Revenues 2022 26.2 10.2 + 156%

   * Unaudited numbers,

The Group also recorded revenues of €9.3 million in Q4 2022 (April – June 2022), up by 217% yoy.

Growth of all FDE activities in a buoyant market environment

The gas production activity remained very dynamic during the year. Associated revenues more than tripled to €11.8 million in FY2022, supported by a further increase in production volumes (+8%) and an average market price of €46.70/MWh in FY2022 (+218%).

Revenues related to electricity production have doubled to €12.9 million (+97% compared to FY2021), driven by increased Group’s production capacities (volumes up by 18%, mainly thanks to the commissioning of three additional combined heat and power units in Anderlues in January 2022) and very favorable prices for electricity in Belgium, reaching €195.10/MWh[1] on average over the financial year.

Revenues from heat sales in Béthune and Creutzwald have also doubled to €363k in FY2022 (FY2021: €178k).

Cryo Pur subsidiary dedicated to liquefied biogas (Bio-LNG) and Bio-CO2 contributed €1.1 million to the Group’s turnover over the 6 months of FY2022, with the recent commissioning, in the presence of the Norwegian Prime Minister, of the first plant in Scandinavia able to produce 8 tons/day of Bio-LNG and 10 tons/day of Bio-CO2 from fish waste and manure.

Several projects in Europe are currently being negotiated to produce Bio-LNG and Bio-CO2 using Cryo Pur technology.

On track to achieve calendar year-end 2022 targets ahead of schedule

FDE continues to strengthen its unique positioning with the recent commissioning of two new 1.5 MW combined heat and power units on its Avion site (3 MW), bringing the number of units in operation to 15 (22.5 MW).

The electricity from these two units is currently sold under a 3-year PPA (Power Purchase Agreement) and FDE has currently secured prices for 2022 and 2023 over €300/MWH, therefore optimizing cash-flow generation from this asset.

The building of the 15 MW photovoltaic power plant in Tritteling-Redlach in Moselle, one of the largest in the Grand Est, is progressing with the start of production scheduled for Q4 2022.

In this context, FDE confirms being on track to achieve its annualized objectives of €35 million of revenues with an EBITDA margin above 45% by end of 2022.

New FDE objectives for FY2026, supported by solid growth prospects

In the current tense geopolitical and energy environment, FDE continues to contribute to the energy independence of the regions where it operates, by supplying an economically and ecologically competitive local energy, while already avoiding over 3.5 million[2] tons of CO2eq emissions per year.

In addition, the final inclusion of gas as an energy of transition in the European taxonomy confirms its positioning as a low-carbon energy and a critical energy to meet the challenges of ecological transition in Europe.

The Group, being the exclusive holder in Lorraine of the largest gas resources in continental Europe, is getting prepared to supply, under the strictest environmental conditions, local gas to households and industrialists in the Grand Est region, with a carbon footprint ten times lower than that of the gas consumed in France[3] while strengthening the security of supply of the area.

Thanks to the positioning of the Group over the past decade, focused on low carbon energy production, FDE is proud to announce its new FY2026 objectives based on three key indicators:

  • A reinforced environmental contribution to avoid over 10 Mtons of CO2eq emissions per annum
  • A strong organic growth to reach annual revenues exceeding €100 million; and
  • A continued profitability improvement with an EBITDA above €50 million.

Next announcement:

FY 2022 Results – October 19th 2022

 

Reuters code: FDEL.PA Bloomberg code : FDE.FP
Press

contact@francaisedelenergie.fr

+ 33 3 87 04 34 51

 Investor Relations

ir@françaisedelenergie.fr

+33 3 87 04 34 51

 

 

About La Française de l’Énergie (« FDE »)

FDE is a negative carbon footprint energy Group, specialized in the implementation via short circuits, of energy recovery and production sites, allowing the reduction of greenhouse gas emissions. FDE notably supplies regional players with gas, electricity, heat and CO2, thus replacing imported energy with local, cleaner energy. FDE has strong development potential and aims to become a leading independent player in the energy sector in Europe.by Bpifrance.

More information available on http://www.francaisedelenergie.fr

Disclaimer

This press release contains certain forward – looking statements and estimates concerning LFDE’s financial condition, operating results, strategy, projects and future performance and the markets in which it operates. Such forward-looking statements and estimates may be identified by words such as “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “intend,” “is designed to,” “may,” “might,” “plan,” “potential,” “predict,” “objective,” “should,” or the negative of these and similar expressions. They incorporate all topics that are not historical facts. Forward looking statements, forecasts and estimates are based on management’s current assumptions and assessment of risks, uncertainties and other factors, known and unknown, which were deemed to be reasonable at the time they were made but which may turn out to be incorrect. Events and outcomes are difficult to predict and depend on factors beyond the company’s control. Consequently, the actual results, financial condition, performances and/or achievements of LFDE or of the industry may turn out to differ materially from the future results, performances or achievements expressed or implied by these statements, forecasts and estimates. Owing to these uncertainties, no representation is made as to the correctness or fairness of these forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates speak only as of the date on which they are made, and LFDE undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise, except as required by law.

[1] Does not include pending Green Certificates

[2] Non-certified figures at this stage. 1,4 Mtonnes certified. Source : Certification Inéris 2019, updated with « Potentiel de Réchauffement Global de 82,5 (AR6 – GIEC) » and including Béthune et Avion 2 sites (FDE extrapolation), 2022 study Université Polytechnique de Mons

[3] Source: 2016 study from the Institut für Energie und Umweltforschung de Heidelberg (Bade-Wurtemberg, Allemagne) 

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Promises won't impact
climate change.
Your local resources, will.

Climate change is an undeniable reality. We can already see its serious consequences for our planet. It is now urgent to act.

At FDE, we refuse to participate in initiatives that generate pollution beyond our borders, even if they reduce the carbon footprint of our local territories. Whether it is a question of carbon footprint or pollution, there are no limits.

It is our duty to build sustainable energy solutions that move towards global carbon neutrality. Today, the most resilient and sustainable energy solution is even more self-evident: it is imperative that energy remains local, within short supply chains, as close as possible to the needs of local communities and consumers.

Considering these, at FDE, we are taking actions and offering tailor-made, local multi-energy solutions.

By making the most of local resources, our offer enables us to provide territories with energies with a triple benefit: reduced carbon footprint, economically competitive and contributing to the socio-economic development of the area. We choose abandoned sites, make the most of the potential of local suppliers and service providers, and participate in a local center of expertise that involves universities, local authorities and associations in the local energy project.

FDE lacks neither the resources nor the know-how to deploy tailor-made energy solutions for everyone and for the planet.

Our engineers embrace the energy transition with a pragmatic view.

Recovering abandoned mine gas avoids fatal gas emissions into the atmosphere, while local coal gas reduces the need to import much more carbon-intensive gases. Abundant solar energy is both local and renewable.

To support the energy transition, at FDE, we are constantly innovating, looking for new solutions for the future, such as hydrogen, a decarbonized energy, or CO2 sequestration in coal.

In addition, all energy produced by our Group is designed to be more virtuous. All these processes therefore make FDE the only French energy producer with a negative carbon footprint.

HSE POLICY

In accordance with its values and code of ethics, and with the aim of pursuing the objective of:

  • Guarantee the integrity of our assets,
  • Ensure a safe and healthy working environment for its employees and subcontractors,
  • Guarantee the health and safety of all personnel working on and off-site,
  • Limit environmental impact.

 

FDE wishes to promote the following HSE principles:

Identify, prevent and control impacts and risks to health, safety, security and the environment,

Develop the company's activities in a sustainable and eco-responsible manner,

Improve the working environment for its employees and subcontractors.

Consequently, FDE undertakes to:

Ensure the rigorous application of regulatory procedures in force with respect to safety, health, environment and the preservation of public security,

Impose operational management with advanced criteria for environmental protection, pollution prevention and energy optimization, as part of the ecological transition,

Systematically verify compliance with HSE principles through audits and practical exercises, with the aim of continuously improving the system and its performance,

Define indices and performance indicators for monitoring HSE activities and promote benchmarking to identify areas for improvement,

Encourage employee participation and involvement in health, safety and environmental protection processes through training and creation of tools for sharing experience and knowledge.

This culture of risk prevention and control applies to all employees, partners and suppliers. It involves setting concrete objectives and deploying action plans as part of a continuous improvement process to better anticipate tomorrow's challenges. This policy is reviewed annually, as are the associated indicators and targets.

Antoine FORCINAL
Directeur Général,