+16% Q2 2024 revenue growth compared to Q1
2024 Strong developments confirmed for 2024
Regulatory News:
FDE (Euronext : FDE - ISIN : FR0013030152), a carbon negative
energy producer, posted H1 2024 revenues of €17.6 million,
mainly driven by a further improvement in electricity sales volumes
for the period (+13%), despite the volatility of the energy price
environment.
In Euro millions *
2024
2023
Q1 sales
8,1
9,6
Q2 sales
9,5
11,7
H1 sales
17,6
21,3
* Unaudited numbers
Increase in electricity production volumes in a volatile
market environment
The revenue from electricity production slightly
increased in the first half of 2024, reaching €13.0 million.
This improvement reflects the strong performance of the
cogeneration plants in Hauts-de-France and Wallonia, along with
the expansion of solar photovoltaic capacity associated with the
15 MW park in Tritteling, despite less favourable prices
compared to the previous year. As of now, over 50% of the estimated
electricity production is fixed at over €140/MWh for the remainder
of the calendar year 2024.
During the first 6 months of the 2024, the gas production
activity recorded decreased revenues from €7.6 million to
€4.0 million as FDE experienced an extended
unavailability of the GRTgaz transport network until September
2023. The Group is currently involved in two proceedings with
GRTgaz for the compensation of damages incurred and loss of income.
Furthermore, FDE continues to optimize the fixing of future prices
to take advantage of the volatility of the gas market.
Revenues from heat sales, related to the Béthune project
and the solar thermal power plant in Creutzwald, amounted to
€206,000 for this semester.
The contribution of Cryo Pur for the first 6 months is
€430,000, primarily representing income from the operation
and maintenance of Bio-LNG and Bio-CO2 production facilities in
Ireland and Norway, pending the forthcoming establishment of new
Bio-LNG and Bio-CO2 production sites in Europe.
Ongoing growth developments for 2024
The upcoming administrative approvals for the connection of 4
new cogeneration units, already on-site in the Hauts-de-France,
will contribute to the Group's organic growth and accelerate the
capture and utilization of abandoned mine methane on the
concessions owned by FDE.
Following the obtention of the Bleue Lorraine concession last
November, the Group is progressing with the reviewed
decarbonized hydrogen development plan from Moselle gas, with
the aim to strengthen the energy security of the region,
participate in the decarbonization of industry and transportation,
as well as participating in the development of hydrogen ecosystems
in the Greater Region. This plan will be detailed on March 7th,
2024.
In Norway, FDE’ subsidiary, Biogy Solutions AS, is continuing
its engineering work, contractual negotiations with local farmers
for biogas inputs and permit applications to kick start production
of its new Liquefied Biogas (LBG) and Bio-CO2 production unit in
Stavanger by early 2025. The unit will produce annually 100 GWh
of LBG, 13,000 tons of liquid Bio-CO2, and 155,000 tons of organic
fertilizer. It will contribute, along with the numerous green
energy production projects in development in Norway, to the
strong revenue growth of the Group.
FDE is also working with its financial partners and sustainable
innovation and development agencies in Norway on the most relevant
project financing solutions and subsidies to support the Group's
development strategy in LBG and Bio-CO2 production.
Finally, the completion process for the acquisition of
Greenstat AS is ongoing, with the shareholders’ approval
expected on January 30th, 2024. This will also launch the initial
investments in green hydrogen production projects in Norway,
with the level of subsidies being currently finalized, the
objective is to replace heavy fuels used in the maritime
sector.
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: Presentation of
development in Lorraine: March 7th, 2024
Reuters code: FDEL.PA | Bloomberg code
: FDE.FP
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 FDE’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 FDE 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 FDE 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.
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