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FY2021 annual revenues up by 30% (10.2 M€)

20 July 2021

Increased gaz and electricty revenues over the year
Additional income generated from two new production sites
Confirme positive dynamic in gas and Belgium electricity prices

 

In €K (Euros thousand) 2021* 2020 % change
H1 Sales (Jul-Dec)  4 020  4 180 – 4%
H2 Sales (Jan-Jun) 6 213 3 676 + 69%
Annual Sales 10 233 7 855 + 30%

* Unaudited numbers

 

Pontpierre, France, July 20th, 2021 – La Française de l’Énergie (Euronext: LFDE – ISIN: FR0013030152), producer of energy with a negative carbon footprint, reported sales for the fiscal year 2021 of € 10.2 million, up by + 30%.

This performance was mainly driven by a further improvement in gaz, electricity and heat volumes sold and the contribution from new low-carbon energy production sites, as well as the ongoing increase in gas and Belgium electricity prices over the period.

The Group recorded Q4 2021 revenues of € 2.9 million, up by 73% compared to the previous year, thanks to increased volumes and improving gas price over the quarter.

Strong increase in annual revenues across all activities of the Group

Revenues from electricity activity reached € 6.5 million at the end of June 2021, up by 11% compared to FY2020. This increase reflects the optimal production on the Group’s historic sites (despite the 30,000 hours maintenance on the machines installed in France) and the positive contribution from the Béthune site commissioned in January 2021 (€ 634k revenues this year). In France, the Group continues to benefit from a guaranteed Feed-in-Tariff for its power activity, thus securing 54% of its total revenues.

The upturn in Belgium electricity prices with an average selling price of 42.7 € / MWH (+ 42%) also supported the electricity revenue generation in Wallonia, which represents 9% of the Group’s turnover. LFDE is also continuing its efforts to activate the contribution to the turnover of its Green Certificates in relation to its Belgian production since 2019.

The gas production activity posted an annual turnover of € 3.5 million, up by 81% ??compared to last year, thanks to a significant increase in both volumes sold (+ 33%) and gas prices derived from the recovery of economic activity in Europe (+36%, with an average selling price of € 14.9 / MWH in FY 2021).

Additional sales from the new heat activity related the Béthune project and the largest solar thermal power plant connected to a heating network in Creutzwald reached € 178k during FY 2021 (zero the previous year).

Overall, the Combined Heat and Power maintenance program completed in France, the upcoming full year contribution of the Bethune and Creutzwald projects (€ 942k sales over this half year), as well as the confirmed recovery in prices, will strongly contribute to the Group’s next year’s revenues.

Growth outlook confirmed for FY 2022

Over the coming months, the Group will continue to carry its development plan and strengthen its unique positioning with the deployment of new local low-carbon energy solutions and the commissioning of 5 new cogeneration units in Avion and Anderlues, representing 7.5 MW of additional capacity, bringing to 15 the number of operational CHPs in the portfolio.

Following the acquisition of Greenhill in February, LFDE has also validated the initial development of 6 cogenerations in Belgium whereby 9 MW will be installed during the first half of calendar 2022 on the new Sud Charleroi concession. The Group will have then secured nearly 64% of its objective of installed capacity to be reached by the end of 2022.

In Lorraine, based on technical and economic feasibility studies done on various options to develop part or all of its certified gas reserves through carbon-free hydrogen production, the Group will confirm by the end of the summer its development strategy for the most economically and environmentally competitive local solution, including using Lorraine coals as important carbon sinks to store CO2. The potential authorisations required to put in place a carbon-free hydrogen production pilot will be submitted this fall.

In relation to the solar business, LFDE will launch in September the construction works for its 15 MW photovoltaic project in Tritteling and is expecting a commissioning by the end of June 2022. Similarly, a new photovoltaic project on an old coal mine in Crehange in the Est of France has been secured, with the objective to submit this project to the next Energy Regulation Commission call for tenders that will take place end of 2021.

The Group is also finalizing with financial institutions debt financing solutions for its various projects in order to support the long-term development strategy of the group, as LFDE recently did with the 3,3 M€ crowdfunding raised for the two cogenerations units in Avion.

 La Française de l’Energie therefore confirms its objective of achieving annualized revenue of € 35 million and an EBITDA margin of over 45% by the end of 2022.

Next announcement :
October 21st, 2021 – FY 2021 Annual Results

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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,