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FY2020/2021 First-half revenue

26 January 2021

Half-Year Revenues back to €4M, close to Pre-Covid level thanks to a strong Q2

Revenue acceleration in Q2 2020/2021 (+ 69%)

2021 revenue growth confirmed

 

Pontpierre, France, January 26, 2021 – La Française de l’Énergie (Euronext: LFDE – ISIN: FR0013030152), a producer of energy with a negative carbon footprint, posted a strong revenue growth in the second quarter of 2020/2021, up by 69% compared to Q1 2020/2021, to € 2.5 million. Half-year turnover reached € 4 million, close to the pre-COVID level despite gas prices still below their usual levels.

Green electricity production at full capacity in Q2 2020/2021, after the temporary slowdown in the previous quarter

Over this quarter, the production of green electricity from abandoned mine gas recorded an improvement in its turnover to € 1.6 million (+ 26% compared to Q1 2020/2021). This good performance was supported by the increase in volumes in Hauts de France (+ 23%) and the contribution of the Anderlues site in Belgium (+ 40%, with an average selling price over the quarter up to 41.5 € / MWH). The Group’s 8 cogeneration plants are operating optimally today with an average availability rate of over 94% across its entire scope.

The Group is also continuing its efforts to activate the contribution to the turnover of its Green Certificates in relation to its Belgian production since 2019.

In line with previous periods, the gas production activity recorded a further increase in volumes, which more than doubled in the 2nd quarter of 2020/2021, with an average selling gas price rising from 6.2 € / MWh in Q1 2020/2021 to € 13.2 / MWh over this quarter, allowing a turnover of € 900,000. This good operational performance offset the unfavourable price effect of the period (-17% compared to H1 2019/2020).

The Group benefits from a feed-in tariff in France guaranteeing its selling electricity price, therefore allowing to decorrelate more than 62% of its revenues from the economic situation.

Revenue increase confirmed for 2021 and 2022

The gradual rise in gas prices was confirmed over the semester, as for electricity prices in Belgium. Therefore the Group took advantage of favourable market conditions to hedge 50% of the 2021 electricity volumes in Belgium at a fixed price.

Following the installation of two additional cogeneration plants at the Béthune site, the income generated by this project will increase the group’s annual turnover by more than € 2 million. Subsequent to the success of the first tranche of crowdfunding aimed at refinancing the equity allocated to the Béthune project, the Group has launched a second tranche of crowdfunding which raising will end on February 15, targeting a total of € 4.5 million raised through these two tranches.

In addition, 5 additional cogenerations have been ordered and will be commissioned by summer 2021 on the Group’s existing sites, thus bringing the number of cogenerations in operation to 15 (10 in Hauts-de-France and 5 in Belgium).

In parallel, the Group continues to move forward on the feasibility study of producing blue hydrogen from it the coal bed methane available in Lorraine, while finalizing the supplier calls for tenders related to the construction of the 15MW photovoltaic power plant on a former landfill in the Urban District of Faulquemont.

La Française de l’Energie is continuing its development in order to achieve its annualized turnover target of € 35 million with an EBITDA margin of over 45% by the end of 2022.

 

 Next announcement:

March 23, 2021 – Half-year results 2020/2021

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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,