FDE: Another Quarter of revenues acceleration in Q3 2023 (+84%)

Group revenues growth confirmed for FY 2023

PONTPIERRE, France--(BUSINESS WIRE)--Regulatory News:

FDE (Euronext: FDE - ISIN: FR0013030152), a carbon negative energy producer, reported sales for the first nine months of FY 2023 of €31.1 million, up sharply by +84% 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)	9,8	7,8	+ 26 %
Year to date Sales (9 months)	31,1	16,9	+ 84 %

* 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 €84,000.

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 announcements:
FY 2023 annual sales – July 20^th 2023

 

About La Française de l’Énergie (« FDE »)

FDE is a negative carbon footprint energy Group, specialized in the implementation via short circuits, of energy recovery and production sites, allowing the reduction of greenhouse gas emissions. FDE notably supplies regional players with gas, electricity, heat and CO₂, thus replacing imported energy with local, cleaner energy. FDE has strong development potential and aims to become a leading independent player in the energy sector in Europe.by Bpifrance.

More information available on http://www.francaisedelenergie.fr

Disclaimer

This press release contains certain forward - looking statements and estimates concerning LFDE’s financial condition, operating results, strategy, projects and future performance and the markets in which it operates. Such forward-looking statements and estimates may be identified by words such as “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “intend,” “is designed to,” “may,” “might,” “plan,” “potential,” “predict,” “objective,” “should,” or the negative of these and similar expressions. They incorporate all topics that are not historical facts. Forward looking statements, forecasts and estimates are based on management’s current assumptions and assessment of risks, uncertainties and other factors, known and unknown, which were deemed to be reasonable at the time they were made but which may turn out to be incorrect. Events and outcomes are difficult to predict and depend on factors beyond the company’s control. Consequently, the actual results, financial condition, performances and/or achievements of LFDE or of the industry may turn out to differ materially from the future results, performances or achievements expressed or implied by these statements, forecasts and estimates. Owing to these uncertainties, no representation is made as to the correctness or fairness of these forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates speak only as of the date on which they are made, and LFDE undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise, except as required by law.