FDE: Q1 FY 2024 Sales
25 Oktober 2023 - 11:01PM
Business Wire
Turnover of €8.1 million in the first
quarter (Q1) FY 2024
Increase in electricity volumes sold
Regulatory News:
FDE (Euronext: FDE - ISIN: FR0013030152), a carbon negative
energy producer, reported Q1 FY 2024 sales amounting to €8.1M,
up +8% compared to Q4 2023, mainly driven by a further
improvement in the volumes of electricity produced, in a context of
remaining favorable energy prices.
Growth in electricity production
The turnover from electricity production rose to €6.9M in
Q1 FY 2024 and increased by +21% compared to Q1 FY 2023.
This increase reflects a 29% increase in volumes sold, offsetting a
normalization of energy prices over this quarter (average sales
price of €146/MWh). To date, more than 60% of the electricity
portfolio volumes have been fixed at higher levels (178 €/MWh on
average for the rest of FY 2024), which will contribute positively
to the continued growth of the Group's sales in FY 2024.
Q1 FY 2024 saw gas production contributing only in
September with turnover reaching €1M due to the long
unavailability of the gas grid this summer. Nevertheless, the
Group has taken advantage of the recent market developments to
secure more than 33% of gas volumes for the rest of FY 2024 at more
than €48/MWh in average.
A restart of gas injection to the grid, with new power
production units being installed
FDE expects to obtain administrative authorizations in the
coming weeks in order to install 4 additional cogenerations in the
Hauts-de-France region, which will contribute to the Group's 2024
organic growth, as well as to accelerate the capture and
valorization of mine gas on the new identified sites.
Finally, the coming months will also see the preparation work
for the development of an additional 85 MW of photovoltaic plants
the Group plans to build in France and Belgium, and new Bio-LNG and
Bio-CO2 production projects in Norway.
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: General Assembly
Meeting FY2023: November 30th, 2023
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.
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