FORBACH, France--(BUSINESS WIRE)--Regulatory News:
La Française de l’Energie (Paris:LFDE):
|In thousands of €||2016/2017||2015/2016|
|Revenue at 9 months||2 895||0|
|Revenue 4th quarter||781||0|
|Annual revenue||3 676||0|
La Française de l’Energie (Euronext: LFDE - ISIN: FR0013030152), leader in industrial ecology, posted an annual revenue of €3,676 million for the 2016/2017 financial year.
During the financial year, following the completion of the Gazonor acquisition in Northern France, La Française de l’Energie (LFDE), steadily accelerated its development in line with its business plan. Some of its key achievements include the completion of its first gas well in Lachambre currently being tested and the successful launch of its gas to green power activity in Northern France.
The gas sale to TOTAL Gas & Power from the Avion site amounted to €781k during the 4th quarter.
In accordance with the development plan, since end of June 2017, 6 gas engines are now operating on four sites, representing a total installed capacity of 9 MW. These production facilities qualify for the guaranteed 15 years feed-in tariff and will contribute to the significant growth of La Française de l’Energie’s revenues and profitability from July 2017 onwards.
Along with this overall growth of its production in Northern France, the first results of the ongoing production test of the Lachambre well in Lorraine are expected this summer with gas sales to local gas consumers expected on the back of this test. The Group is in discussion with several industrial partners to finalize an off-take agreement to monetize this local gas resource that is competitive both from an ecological and economic point of view.
LFDE will also actively pursue its development in Northern France and accelerate its profitable growth. Almost 20 additional sites have already been identified and are currently being analyzed to increase the volume of captured gas.
Thanks to these major structural achievements, La Française de l’Energie should show a significant increase in activity for the 2017/2018 financial year and confirms its target of around €35M in revenue by 2020.
Next event: Annual results, 19 September 2017 (close of the market)
Reuters code: LFDE.PA
Bloomberg code: LFDE.FP
About La Française de l’Energie
La Française de l’Energie is a SME headquartered in Lorraine, leader in industrial ecology, specialised in gas recovery in the former coal mining basins of North and Eastern France. La Francaise de l’Energie provides gas, green electricity and heat to regional consumers, replacing imported energy with a cleaner local alternative. La Française de l'Energie benefits from a strong growth potential and aims to become a major energy player in Europe. The company has also been awarded the innovative enterprise label by Bpifrance.
More information on: www.francaisedelenergie.fr