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Solid revenue base with annual sales of € 7.9 million

27 July 2020

Solid revenue base with annual sales of € 7.9 million
Increase in gas and electricity production
Improvement of revenues confirmed for 2021

In € thousand 2019/2020* 2018/2019 Variation

%
H1 Revenues (Jul.-Dec) 4 180 3 283 + 27%
H2 Revenues (Jan.-Jun) 3 756 4 631 – 19%
Annual revenues 7 936 7 914 + 0.3

* Unaudited numbers

Forbach, France, July 21th, 2020 – La Française de l’Énergie (Euronext : LFDE – ISIN : FR0013030152), leader in industrial ecology, reports revenues of € 7.9 million (+ 0.3%) for the year ending June 30th, 2020, confirming the resilience of its business model in these unprecedent turbulent times.

During the COVID-19 pandemic period, the management has deployed efficient work-related measures to ensure continuous group activities while protecting both its employees and subcontractors. LFDE has maintained all its operations on all sites and has increased gas and electricity production by + 24% and + 35% respectively compared to last year, confirming once again, the stability and recurring nature of its activity.

Significant increase in annual revenues from green electricity production: +21%

Green electricity production has remained strong thanks to optimal operations on all sites in France (site availability >97%) and the full year contribution of the Anderlues site in Belgium. Revenues from green electricity production reached almost € 6 million at the end of June 2020 (a 21% year-on-year increase), from which 87% is secured through guaranteed feed in tariffs.

As anticipated, while gas production improved by 24% year-on-year, revenues have been impacted by the overall drop in gas prices, with the average selling price falling from € 19.77 per MWh to € 11.04 per MWh in a year (-44%).

On the last quarter of 2020, the Group showed stable volumes (+0.7%) leading to € 1.7 million revenues, impacted by depressed gas prices in France and electricity prices in Belgium (-55% and -48% respectively when compared to Q4 2019).

The Combined Heat and Power maintenance program undertaken in Q4 2020, the continuous operational performance of the green electricity activity and the upcoming Bethune project backed by long-term gas, electricity and heat contracts should improve next year’s revenues.

LFDE’s ability to perform in adverse conditions

The Group’s business plan is on track through significant progress made on identified projects:

In Creutzwald, construction has progressed during the lockdown period and will allow the largest solar thermal power plant in France producing heat into a district network to be commissioned by the end of September 2020.

The new site in Bethune (supply of gas, green electricity and heat) will be fully operational from January 1st 2021, as per plan. It will significantly contribute to the recurrent and stable revenue base of the Group, with over € 2 million of additional revenues.

In Belgium, the Group has confirmed the extension of the existing Anderlues site with the installation of an additional 4.5 MW capacity in the first semester of 2021.

The timely delivery of these projects confirms LFDE’s expertise and ability to execute its development plan from both an operational and financial standpoint, notably with the securing of a € 1.6 million State-guaranteed bank loan and the advanced discussions with lending institutions for dedicated project financings that will support the future Combined Heat and Power developments.

Sustained Growth Perspectives

Fully committed to the Region where it operates, LFDE confirms its development plan in France and Belgium with the installation of 7 new 1.5 MW units (6 MW in the Hauts-de-France and 4.5 MW in Wallonie) over the next 12 months.

The Group has already confirmed with the relevant authorities the nature and number of additional sites that will allow the development of its certified reserves in the Hauts-de-France, and this will be materialized through a “convention de mise à disposition” to make available certain vents to LFDE.

Given the resilience of the group business model highlighted during the health crisis but also the uncertainties associated with the gas prices and the required authorizations from the administration, LFDE anticipates that the installation of the additional 37.5 MW of Combined Heat and Power will be effective in 2022.

In parallel, LFDE continues to progress on the regulatory and financial matters related to its development project in Lorraine, which remains a priority for the Group. Following the admissibility of its application for a production lease, the next steps involve the public enquiry scheduled to start in September 2020 and the operational and financial structuring of the next production site by the end of the calendar year.

This unprecedent macroeconomic context confirms LFDE’s resilient business and economic model, the relevance of its strategy and its solid financial structure. The Group remains confident in its long-term growth and ability to deliver successfully the additional 37.5 MW capacity, while being ready to take advantage of potential external growth opportunities.

Next Announcement:
October 14th, 2020 – Annual Results 2019/2020

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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,