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Another Quarter of revenues acceleration in Q3 2023 (+88%), Group revenues growth confirmed for FY 2023

25 April 2023

Pontpierre, France, April 25th, 2023 – FDE (Euronext: FDE – ISIN: FR0013030152), a carbon negative energy producer, reported sales for the first nine months of FY 2023 of €31.7 million, up sharply by +88% compared to the same period in 2022, thus already exceeding the FY 2022 turnover, driven once again by the development of its activities and the optimization of energy sale prices.

 

In Euro millions 2023* 2022 % change
H1 Sales (Jul-Dec) 21,3 9,1 + 134 %
Q3 Sales (Jan-March) 10,4 7,8 + 33 %
Year to date Sales (9 months) 31,7 16,9 + 88 %

* Unaudited numbers

 

Solid recurring revenues derived from the Group’s low-carbon energy solutions

For the first nine months of 2023, the gas production activity posted revenues of €11 million, up by +29% compared to last year, in a favorable gas price environment.

Revenues from electricity generation amounted to €19.6 million at the end of March 2022 (+145%). This increase reflects the latest negotiated contracts prices on the overall cogeneration portfolio (>185€/MWH average selling price) and the contribution from January of FDE’s first solar project in the Grand-Est, adding 15 MW to the Group’s existing 22.5 MW power portfolio.

The Group still benefits from a guaranteed feed in tariff in France for 40% of its installed capacity. FDE also continues to optimize the valorization of its revenues and recently fixed the pricing of 65% of its merchant electricity volumes from cogeneration for the rest of 2023.

Revenue generated from the heat sales, related to the Béthune project and the thermal solar power plant in Creutzwald, amounted to €355,000 over the period. The contribution of Cryo Pur, associated with the new operating and maintenance contracts for LBG and Bio-CO2 production installations in Ireland and Norway is €646,000.

 

FDE revenues growth confirmed for FY 2023

This excellent combination of strong revenues and cash flows generation from FDE’s portfolio will continue in Q4 2023.

FDE is also implementing its organic growth strategy focused on developing new low-carbon solutions including addition cogenerations; indeed the Group has already launched the assembly of 4 additional cogeneration units to be installed towards the end of calendar year 2023.

Furthermore, in addition to the already-secured 84 hectares dedicated to future solar production, the extension of the Tritteling-Redlach project has been approved by local authorities, the land secured and the engineering and environmental studies initiated with the objective to double the current installed capacity (+15MW) by early 2025.

With regards to new projects associated with Cryo Pur technologies, FDE is currently completing its optimization and industrialization program for its Liquified Biogas (LBG) and Bio-CO2 technologies and equipements. The Group expects that revenues linked to these new projects will significantly contribute to FDE’s growth from 2024 onwards.

Meanwhile, the Group continues to strengthen its position on other low-carbon energy solutions: a proven and competitive economic and ecological model.

 

FDE confirms its FY 2026 objectives of annual revenues of more than €100 million, and an EBITDA above €50 million, combined with over 10 million tons of CO2eq emissions avoided per annum

 

 Next announcement:

FY 2023 annual sales – July 20th 2023

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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,