Revenues of €7.1 million in Q1 2025 (full consolidation[1])
Solid developments currently being deployed this year
Pontpierre, France, October 24th, 2024 - FDE (Euronext: FDE - ISIN: FR0013030152), a carbon negative energy producer, has recorded sales of €7.1 million for the first quarter of the 2025 financial year ending September 30, 2024 (€5 million using the equity method for the Drin Energija entity, which owns Petjnik, our solar farm in operation with an installed capacity of 45 MW).
Innovative projects underway
Electricity production revenues amounted to €3.6 million, despite the normalization of energy prices. Thanks to a proactive portfolio management, a significant portion of our production for the current year has been secured to date at competitive prices (around €110/MWh) to ensure future sales growth.
FDE is also focusing on the deployment of new cogeneration plants in Hauts-de-France and Belgium, and the commissioning of its third photovoltaic plant, with a capacity of 5.8 MWp, in Engene, Norway, scheduled for the end of the year. These projects are key milestones as part of our sustainable development strategy.
A very promising recovery for the gas activity
The gas production, although temporarily impacted by infrastructure constraints imposed by the network operator GRTgaz, has started again: injections into the GRTgaz network resumed at the end of October, and we are pursuing legal proceedings to claim compensation for past losses.
Revenue prospects strengthened by our European subsidiaries
Our recent acquisition of Greenstat has already generated over €1.0 million in revenues this quarter.
In addition, solar production at the Petjnik site alone generated €2.1 million in revenues this quarter (recognized only under full consolidation), demonstrating our commitment to a profitable and sustainable energy transition.
Committed to ambitious targets
As part of our innovative initiatives in Renewable Natural Gas (RNG) and Bio-CO2, FDE is building a new production unit in Stavanger, aiming to produce 100 GWh per year by the end of 2025. Several other projects of similar size, including three in Norway, are currently being progressed to meet the growing demand for Renewable Natural Gas.
In addition, our subsidiary Greenstat continues to develop its renewable hydrogen production project in Agder, wholly owned by Greenstat. The first 20 MW phase of electrolysers will be commissioned by the end of the second half of 2026, supported by a 148 MNOK grant from ENOVA, covering almost 40% of the total investment. A second 40 MW unit is also planned for 2027, positioning Greenstat among the leaders in low-carbon energy.
FDE thus reiterates its 2030 targets of annual sales of over 175 million euros, EBITDA exceeding 85 million euros, combined with over 20 million tons of CO2 eq emissions per year.
Next announcements:
FY2022 annual results presentation: October 28th, 2024 at 4pm
| Reuters code: FDEL.PA | Bloomberg code: FDE.FP |
| Press contact@francaisedelenergie.fr + 33 3 87 04 34 51 | Investor Relations ir@françaisedelenergie.fr +33 3 87 04 34 51 |
About La Française de l'Énergie (« FDE »)
FDE is an independent multi-energy producer dedicated to making Net Zero happen. As a specialist in local energy systems and the circular economy, FDE capitalizes on its industrial know-how ranging from engineering, energy production to CO2 storage to provide energy solutions that combine carbon footprint reduction with better resilience of the associated eco-systems.
More information available on https://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] Full consolidation of Drin Energija, 49.5% owned by Greenstat (documentation currently being formalized in accordance with IFRS 10).
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