Q3 2021 revenues up by 61%
Additional income generated from two new production sites
Positive dynamic in gas prices confirmed
Pontpierre, France, April 27, 2021 – La Française de l’Énergie (Euronext: LFDE – ISIN: FR0013030152), producer of energy with a negative carbon footprint, reported sales for the first nine months of fiscal year 2021 of € 7.3 million, up by + 18%, mainly driven by a further improvement in volumes, the contribution from new low-carbon energy production sites, and the ongoing increase in gas prices.
|In €K (Euros thousand)
|H1 Sales (Jul-Dec)
|| 4 020
|| 4 180
|Q3 Sales (Jan-Mars)
|Year to date Sales
* Unaudited numbers
Increase in revenues across all activities of the Group
Revenues from electricity reached € 4.7 million at the end of March 2021, up by 3% compared to the first 9 months of FY2020. This increase reflects the ongoing optimal production on the Group’s historic sites, despite the start of the 30,000 hours maintenance on the machines installed in France, and the new positive contribution from the Béthune site commissioned in January 2021 (€ 274k revenues this quarter). The upturn in Belgium electricity prices with an average selling price of 40.9 € / MWH (+ 20%) also supports the revenue generation in Wallonia, which now represents 10% of the Group’s turnover. In France, the Group continues to benefit from a guaranteed Feed-in-Tariff, thus securing 55% of its total revenues.
Over these first 9 months of the financial year, the gas production activity posted a turnover of € 2.5 million, up by 52% compared to last year, thanks to a significant increase in its volumes (+ 36%).
The rise in gas prices was also accentuated over this quarter with the gradual recovery of economic activity in Europe, leading to a 34% increase in the average selling price compared to the previous quarter, therefore reaching € 17.7 / MWH in Q3 2021.
Positive contribution from the new Béthune and Creutzwald sites
The Bethune project started gas, power and heat production in January 2021. Combined with the contribution from the largest solar thermal power plant connected to a heating network in Creutzwald, it allowed the Group to secure this quarter € 421,000 of additional sales, backed by long term contracts at fixed price.
Outlook confirmed for FY 2021 and 2022
Over the coming months, the Group will continue to strengthen its unique positioning through the deployment of new local low-carbon energy solutions in France and Belgium.
In accordance with its development plan, LFDE confirms the installation of 5 new 1.5 MW cogeneration units in Avion and Anderlues this summer (3 MW in Hauts-de-France and 4.5 MW in Wallonia).
The Group has also submitted additional documentation to obtain the necessary administrative authorisations for 7 new sites; the other preparation works (geological studies, land and connection pre-study in particular) have already been conducted to allow for a rapid installation of these new sites once authorisations are obtained. The first batch of authorisations are expected to be granted before the end of the 2021 calendar year.
In Lorraine, LFDE is finalizing, by end of June 2021, its feasibility study on the carbon-free hydrogen production made out of coal seam gas. In addition, studies and tests to transform Lorraine coals into important carbon sinks, store CO2 and thus offer an additional decarbonization option for the Moselle region continues to progress with the support of the GeoRessources laboratory (University of Lorraine and CNRS).
Finally, on the solar business, the Group has finalized the review of calls for tenders for supplies for its 15 MW photovoltaic project and plans to start construction of its first ground-based photovoltaic plant by the end of 2021.
La Française de l’Energie therefore confirms its objective of achieving annualized revenue of € 35 million and an EBITDA margin of over 45% by the end of 2022.
July 20th, 2021 – FY 2021 Sales