Revenue acceleration in Q2 2020/2021 (+ 69%) 2021 revenue growth confirmed
Regulatory News:
La Française de l'Énergie (Paris:LFDE) (Euronext: LFDE ISIN: FR0013030152), a producer of energy with a negative carbon footprint, posted a strong revenue growth in the second quarter of 2020/2021, up by 69% compared to Q1 2020/2021, to 2.5 million. Half-year turnover reached 4 million, close to the pre-COVID level despite gas prices still below their usual levels.
Green electricity production at full capacity in Q2 2020/2021, after the temporary slowdown in the previous quarter
Over this quarter, the production of green electricity from abandoned mine gas recorded an improvement in its turnover to 1.6 million (+ 26% compared to Q1 2020/2021). This good performance was supported by the increase in volumes in Hauts de France (+ 23%) and the contribution of the Anderlues site in Belgium (+ 40%, with an average selling price over the quarter up to 41.5 / MWH). The Group's 8 cogeneration plants are operating optimally today with an average availability rate of over 94% across its entire scope.
The Group is also continuing its efforts to activate the contribution to the turnover of its Green Certificates in relation to its Belgian production since 2019.
In line with previous periods, the gas production activity recorded a further increase in volumes, which more than doubled in the 2nd quarter of 2020/2021, with an average selling gas price rising from 6.2 / MWh in Q1 2020/2021 to 13.2 MWh over this quarter, allowing a turnover of 900,000. This good operational performance offset the unfavourable price effect of the period (-17% compared to H1 2019/2020).
The Group benefits from a feed-in tariff in France guaranteeing its selling electricity price, therefore allowing to decorrelate more than 62% of its revenues from the economic situation.
Revenue increase confirmed for 2021 and 2022
The gradual rise in gas prices was confirmed over the semester, as for electricity prices in Belgium. Therefore the Group took advantage of favourable market conditions to hedge 50% of the 2021 electricity volumes in Belgium at a fixed price.
Following the installation of two additional cogeneration plants at the Béthune site, the income generated by this project will increase the group's annual turnover by more than 2 million. Subsequent to the success of the first tranche of crowdfunding aimed at refinancing the equity allocated to the Béthune project, the Group has launched a second tranche of crowdfunding which raising will end on February 15, targeting a total of 4.5 million raised through these two tranches.
In addition, 5 additional cogenerations have been ordered and will be commissioned by summer 2021 on the Group's existing sites, thus bringing the number of cogenerations in operation to 15 (10 in Hauts-de-France and 5 in Belgium).
In parallel, the Group continues to move forward on the feasibility study of producing blue hydrogen from it the coal bed methane available in Lorraine, while finalizing the supplier calls for tenders related to the construction of the 15MW photovoltaic power plant on a former landfill in the Urban District of Faulquemont.
La Française de l'Energie is continuing its development in order to achieve its annualized turnover target of 35 million with an EBITDA margin of over 45% by the end of 2022.
Next announcement:
March 23, 2021 Half-year results 2020/2021
Reuters code: LFDE.PA | Bloomberg code: LFDE.FP |
About La Française de l'Énergie
La Française de l'Energie is a Lorraine SME, leader in industrial ecology, specializing in producing the gas present directly in the coal and in the former coal mines of France and Belgium. Thanks to its recognised know-how in geology and engineering combined to its local positioning, La Française de l'Energie supplies gas, green electricity and heat to regional players, replacing imported energy by energy local and cleaner energy. La Française de l'Energie is on a significant growth path and aims to become a major player in the energy sector in Europe. The company is labelled as a young innovative company by Bpifrance.
More information available on 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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