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Q1 2020/2021 turnover of € 1.5 million-Revenue increase confirmed for 2021

19 November 2020

Forbach, France, October 19, 2020 – 6 p.m. – La Française de l’Énergie (Euronext: LFDE – ISIN: FR0013030152) has recorded further growth in its gas production volumes in the 1st quarter of 2020/2021 (+ 5%) and reports a gradual rise in gas and electricity prices in Belgium. Although below the levels of the previous year, this trend is observed in October and should be confirmed towards the end of the year with winter time.

This positive trend is not yet reflected in the Group’s first quarter revenues, which amounted to € 1.5 million compared to € 1.8 million last year. In addition to the unfavorable price effect over the period (-42% on gas), activity was also hampered by the exceptional slowdown in the production of green electricity during the summer.

Return to full production capacity after a temporary slowdown of green electricity over the first quarter

In the first quarter of 2020/2021, the green electricity production activity achieved a turnover of € 1.3 million, down by 15% compared to last year. This exceptional decrease is related on one hand, to the high temperatures in August requiring a reduction in the power of the CHPs in order to avoid damage due to overheating, and on the other hand to a long maintenance on a CHP unit following premature wear of the engine block. From mid-September onwards, the Group has regained its full production capacity.

In Belgium, the restart of the activity was accompanied by a significant rise in electricity prices. Thus, the average price over the 1st quarter (33.3 € / MWh) has almost returned to the level of last year (34.1 € / MWh) and has effectively doubled compared to the 4th quarter 2019/2020 (16,8 € / MWh). In France, the Group benefits from a guaranteed feed in tariff1, enabling it to decorrelate 74%2 of its revenues from the market.
To date, the Group has gone back to optimal production with an average availability rate of over 95% on its entire activity.

Continuous increase in gas production volumes (+5%) masked by an unfavorable price effect.

In line with the previous financial year, the gas production activity recorded a further increase of 5% in volumes over the 1st quarter of 2020/2021 despite several weeks of maintenance on the GRTgaz network, showing the reliability of the Avion site. However, the average price of gas over the period (€ 6.2 / MWh) remains below last year (€ 10.8 / MWh) and brings the turnover for this 1st quarter to € 0,2 M compared to € 0.3 M last year.

Strong increase in revenues confirmed for 2021 and 2022

The Group will be able to rely on the commissioning of 2 new CHP units, in January 2021 on its Béthune site, and will continue to foster its overall installed capacity in 2021 with the installation of 5 additional CHPs on its existing sites.

Supported by a fully operational installed capacity and a gradual rise in prices, La Française de l’Énergie confirms its ambition to achieve annualized revenue of € 35 million with an EBITDA margin of over 45% by end of 2022.

Next press release :
Presentation of annual results : October 20th 2020
December 3rd, 2020 – Shareholders’ meeting

 

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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,