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FDE: FY 2022 revenues reaching a record of €26.2 million (+156%)

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New objectives for FY 2026
CO2eq emissions avoided annually > 10 Mtons
Revenues > €100 million
EBITDA > €50 million

PONTPIERRE, France, July 21, 2022--(BUSINESS WIRE)--Regulatory News:

FDE (Euronext: FDE - ISIN: FR0013030152), a carbon negative energy producer, posted annual revenues of €26.2 million, up by 156% yoy, driven by a sharp increase in production volumes and favorable market prices during H2 2002.

In Euro millions

2022*

2021

% Change

H1 Sales (Jul-Dec)

9.1

4.0

+ 127%

H2 sales (Jan-June)

17.0

6.2

+ 174%

Annual Revenues 2022

26.2

10.2

+ 156%

* Unaudited numbers,

The Group also recorded revenues of €9.3 million in Q4 2022 (April - June 2022), up by 217% yoy.

Growth of all FDE activities in a buoyant market environment

The gas production activity remained very dynamic during the year. Associated revenues more than tripled to €11.8 million in FY2022, supported by a further increase in production volumes (+8%) and an average market price of €46.70/MWh in FY2022 (+218%).

Revenues related to electricity production have doubled to €12.9 million (+97% compared to FY2021), driven by increased Group's production capacities (volumes up by 18%, mainly thanks to the commissioning of three additional combined heat and power units in Anderlues in January 2022) and very favorable prices for electricity in Belgium, reaching €195.10/MWh1 on average over the financial year.

Revenues from heat sales in Béthune and Creutzwald have also doubled to €363k in FY2022 (FY2021: €178k).

Cryo Pur subsidiary dedicated to liquefied biogas (Bio-LNG) and Bio-CO2 contributed €1.1 million to the Group's turnover over the 6 months of FY2022, with the recent commissioning, in the presence of the Norwegian Prime Minister, of the first plant in Scandinavia able to produce 8 tons/day of Bio-LNG and 10 tons/day of Bio-CO2 from fish waste and manure.

Several projects in Europe are currently being negotiated to produce Bio-LNG and Bio-CO2 using Cryo Pur technology.

On track to achieve calendar year-end 2022 targets ahead of schedule

FDE continues to strengthen its unique positioning with the recent commissioning of two new 1.5 MW combined heat and power units on its Avion site (3 MW), bringing the number of units in operation to 15 (22.5 MW).

The electricity from these two units is currently sold under a 3-year PPA (Power Purchase Agreement) and FDE has currently secured prices for 2022 and 2023 over €300/MWH, therefore optimizing cash-flow generation from this asset.

The building of the 15 MW photovoltaic power plant in Tritteling-Redlach in Moselle, one of the largest in the Grand Est, is progressing with the start of production scheduled for Q4 2022.

In this context, FDE confirms being on track to achieve its annualized objectives of €35 million of revenues with an EBITDA margin above 45% by end of 2022.

New FDE objectives for FY2026, supported by solid growth prospects

In the current tense geopolitical and energy environment, FDE continues to contribute to the energy independence of the regions where it operates, by supplying an economically and ecologically competitive local energy, while already avoiding over 3.5 million2 tons of CO2eq emissions per year.

In addition, the final inclusion of gas as an energy of transition in the European taxonomy confirms its positioning as a low-carbon energy and a critical energy to meet the challenges of ecological transition in Europe.

The Group, being the exclusive holder in Lorraine of the largest gas resources in continental Europe, is getting prepared to supply, under the strictest environmental conditions, local gas to households and industrialists in the Grand Est region, with a carbon footprint ten times lower than that of the gas consumed in France3 while strengthening the security of supply of the area.

Thanks to the positioning of the Group over the past decade, focused on low carbon energy production, FDE is proud to announce its new FY2026 objectives based on three key indicators:

- A reinforced environmental contribution to avoid over 10 Mtons of CO2eq emissions per annum
- A strong organic growth to reach annual revenues exceeding €100 million; and
- A continued profitability improvement with an EBITDA above €50 million.

Next announcement:
FY 2022 Results - October 19th 2022

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 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.

_______________________
1
Does not include pending Green Certificates
2 Non-certified figures at this stage. 1,4 Mtonnes certified. Source : Certification Inéris 2019, updated with « Potentiel de Réchauffement Global de 82,5 (AR6 – GIEC) » and including Béthune et Avion 2 sites (FDE extrapolation), 2022 study Université Polytechnique de Mons
3 Source: 2016 study from the Institut für Energie und Umweltforschung de Heidelberg (Bade-Wurtemberg, Allemagne)

View source version on businesswire.com: https://www.businesswire.com/news/home/20220721005982/en/

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