YTD sales of €26.6m, New acceleration of developments across all the Group’s businesses scheduled for end of 2024, 2026 targets confirmed

Pontpierre, France, 24 April 2024 – La Française de l’Énergie (Euronext: FDE – ISIN: FR0013030152), an energy producer with a negative carbon footprint, has achieved year-to- date sales of €26.6m for the first nine months of FY2024, with a further improvement in electricity sales volumes (up 19% on last year), against a backdrop of persistently volatile energy prices.

* Unaudited figures

A solid base of recurring revenues in a volatile market environment

In the first 9 months of FY2024, the gas production business posted sales of €6.7m, against a backdrop of falling market prices, with an average selling price of €39/MWH. As a reminder, the Group has two ongoing proceedings with GRTgaz for compensation for the damage suffered and the loss of revenues, currently not included into the accounts, amounting to c. €8m as of 30^th October 2023, date of the latest independent assessment.

Income from the sale of heat, linked to the Béthune project and the solar thermal power plant at Creutzwald, amounted to €310k over the period.

The contribution from Cryo Pur, associated with the operation and maintenance of LBG and Bio-CO₂ production units in Ireland and Norway, was €474k, pending the commissioning next year of the new LBG and Bio-CO₂ production site in Norway (Stavanger) which will significantly increase the Group’s revenues stream.

Revenues associated with the integration of Greenstat following the completion of the acquisition on 22^nd February 2024 amounted to c. €360k for the current quarter and mainly related to engineering, procurement and construction (EPC) work, providing sales and installations of solar energy systems.

Group revenue growth confirmed for FY2025

FDE continues to optimise the value of its existing assets by hedging its future production in order to take advantage of the volatility of current markets, as well as its organic growth, with the implementation of local low-carbon energy solutions, and in particular 4 additional cogeneration units in Hauts-de-France in the coming months.

In Norway, its subsidiary Biogy Solutions AS has started the work on its new LBG and Bio-CO₂ production unit in Stavanger, which is due to come on stream in 2025. The unit will produce 100 GWh of LBG, 13,000 tonnes a year of liquid Bio-CO₂ and 155,000 tonnes of organic fertiliser and is expected to generate annual revenues of more than €15m. This unit will contribute to the strong growth of FDE’s sales, like the two other similar projects in Bergen and Laerdal, where the Group has initiated the authorisation process and submitted applications for financial support to the Norwegian Agency for Ecological Transition.

In addition, FDE, which now owns and operates several solar power plants in Europe totalling 64 MW[1], is continuing to expand, particularly in Norway, where the Group has just launched the construction of the third ground-mounted power plant in Norway in Engene, with a capacity of 5.8 MWp, which will come on stream by the end of 2024. Work on the future Brandsrud photovoltaic plant, with a capacity of 11.5 MWp, is also due to start in the 2025, with production scheduled for late 2025.

Finally, FDE, via its subsidiary Greenstat, is pursuing its engineering work for the construction of the green hydrogen production site at Agder in Norway, which will be built in two phases: the first phase will see the commissioning of a 20 MW capacity designed to supply green H2 to the maritime industry, with production starting at the beginning of 2026, while the second 40 MW phase will be launched in 2027.

These various projects will contribute to the creation of a leading European operator dedicated to global Net Zero objectives.

FDE is thus reiterating its targets of annualised sales in excess of €100m, EBITDA in excess of €50m, combined with more than 10 million tonnes of CO₂ eq emissions avoided per year by 2026.

 Next meeting:

Capital Markets Day, 30 May 2024

Annual sales 2024, 23 July 2024

[1] 4 MW at the Creutzwald site, 15 MW at the Tritteling site and 45MW at the Petjnik site