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Record revenues of €9.7 million in Q1 2023, up by +232% YoY

25 October 2022

Continued growth in energy volumes sold
Supporting energy price environment

Pontpierre, France, October 25th 2022 – FDE (Euronext : FDE – ISIN : FR0013030152), a carbon negative energy producer, has recorded increased Q1 2023 revenues, which stood at €9.7 million, up by +232% year-on-year, mainly driven by a further improvement in gas and electricity volumes produced under a high energy prices environment.

Excellent performance in electricity production in Belgium and gas production in France

The electricity production activity achieved a turnover of €5.7 million over Q1 2023, up by +188% compared to Q1 2022. Such performance was achieved thanks to increased revenues in Belgium that now represent 56% of the Group’s electricity sales and 34% of overall FDE’s revenues, following the installation of additional capacity in Wallonia, reaching now 7.5 MW (2.3x over the period). This was supported by an average selling price of 226 €/MWH over the period.

In France, the Group still benefits from a feed-in tariff for 80% of its installed capacity, the electricity produced by the 2 new CHPs installed in July 2022 being monetized through a Power Purchase Agreement, with an average selling price of more than 200 €/MWH over this quarter.

In the first quarter of 2023, gas revenues improved to €3.7 million led by increased volumes produced and strong selling price.

Ongoing developments and growth prospects

FDE expects in the coming months the administrative authorizations required to accelerate the development of its CHPs roll-out on 7 new sites in France, some of which will contribute to this financial year’s revenues.

The Group is also completing the construction of its first ground-based photovoltaic plant, with an installed capacity of 15 MW, which will start production in the coming days. 40 hectares have already been secured to deploy FDE’s new photovoltaic projects in France and 43 additional hectares are under negotiation to reach the targeted initial 42 MW photovoltaic capacity.

In Lorraine, FDE is still waiting for the final approval related to its concession permit that is required to start the commissioning of its production of valuable local gas to be used locally, in replacement of imported gas.

Finally, several projects in Europe are being negotiated to enable new production of LBG and Bio-CO2 from Cryo Pur’s technology. The ongoing new industrial process, coupled with FDE’s project management experience, will enable the Group to deploy sizeable, patented installations in the coming months, by applying the operator model successfully developed on its existing activities.

2026 TARGETS CONFIRMED

Thanks to its strategy focused on low-carbon energy production, FDE is confident to achieve its FY 2026 objectives:

  • Annual revenues exceeding €100 million
  • EBITDA above €50 million
  • Over 10 million tons of CO2eq emissions avoided per annum
Next announcements:
FY2022 annual results and Q1 2023 quarterly results presentation: October 26th, 2022
General Assembly Meeting FY2022: November 30th, 2022

 

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.

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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,