FDE: Record revenue of €9.7m in Q1 2023, up +232% year-on-year
PONTPIERRE, France–(BUSINESS WIRE)–Regulatory news:
FDE (Euronext: FDE – ISIN: FR0013030152), carbon-negative energy producer, registers increase in Q1 2023 revenue to €9.7 million, up +232% year-on-year, mainly driven by a further improvement in the volumes of gas and electricity produced in an environment of high energy prices.
Excellent performance of electricity production in Belgium and gas production in France
The the electricity production activity generated revenue of €5.7 million in Q1 2023, up by +188% compared to Q1 2022. This performance was achieved thanks to the increase in revenues in Belgium, which now represent 56% of the Group’s electricity sales and 34% of FDE’s overall revenues, following the installation of additional capacities in Wallonia. , now reaching 7.5 MW (2.3x over the period). This was supported by an average sale price of €163.7/MWH over the period.
In France, the Group still benefits from a feed-in tariff for 80% of its installed capacitythe electricity produced by the 2 new cogeneration plants installed in July 2022 monetized via a power purchase agreement, with an average sale price above €200/MWH over this quarter.
In the first quarter of 2023, gas revenues improve to 3.7 million euros driven by the increase in product volumes and high selling prices.
Current developments and growth prospects
FDE is awaiting the necessary administrative authorizations in the coming months to accelerate the development of its Deployment of cogeneration at 7 new sites in Francesome of which will contribute to this year’s revenue.
The Group is also completing the construction of its first ground-based photovoltaic power plant, with an installed capacity of 15MW, which will go into production in the next few days. 40 hectares have already been secured to deploy FDE’s new photovoltaic projects in France and an additional 43 hectares are under negotiation to reach the targeted initial photovoltaic capacity of 42 MW.
In Lorraine, FDE is still awaiting final approval for its concession permit necessary to start commissioning its production of valuable local gas to be used locally, replacing imported gas.
Finally, several projects in Europe are being negotiated to allow new production of LBG and Bio-CO2 of CryoPure technology. The new industrial process underway, coupled with FDE’s project management experience, will enable the Group to deploy major patented installations in the coming months, by applying the operator model successfully developed on its existing activities. .
2026 TARGETS CONFIRMED
Thanks to its strategy centered on the production of low carbon energy, FDE is confident to achieve its FY 2026 objectives:
Annual turnover above 100 million euros
EBITDA above 50 million euros
More than 10 million tons of CO2eq emissions avoided per year
Presentation of 2022 annual results and Q1 2023 quarterly results: October 26e2022
FY2022 General Assembly Meeting: November 30e2022
Reuters Code: FDEL.PA
Bloomberg Code: FDE.FP
About La Française de l’Energie (“FDE”)
FDE is an energy group with a negative carbon footprint, specializing in the establishment of short circuits, 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 and 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
This press release contains certain forward-looking statements and estimates regarding the financial condition, results of operations, strategy, plans and future performance of LFDE and the markets in which it operates. These forward-looking statements and estimates can be identified by words such as “anticipate”, “believe”, “may”, “could”, “estimate”, “expect”, “intend”, “is designed for”, “may”, “could”, “plan”, “potential”, “predict”, “goal”, “should” or the negative of these and similar expressions. They incorporate all subjects which do not 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 have been deemed reasonable at the time of when they were made but which may prove to be incorrect. Events and results are difficult to predict and depend on factors beyond the Company’s control. Accordingly, actual results, financial condition, performance and /or the achievements of LFDE or the sector may materially different from any future results, performance or achievements expressed or implied by such statements, forecasts and estimates. Due to these uncertainties, no representation is made as to the accuracy or correctness of such 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 assumes 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.