Increase in gas and electricity
production Improvement of revenues confirmed for
2021
Regulatory News:
La Française de l’Énergie (Paris:LFDE):
In € thousand
2019/2020*
2018/2019
Variation
%
H1 Revenues (Jul.-Dec.)
4 180
3 283
+ 27%
H2 Revenues (Jan.-Jun.)
3 756
4 631
- 19%
Annual Revenues
7 936
7 914
+ 0.3%
* Unaudited numbers
La Française de l’Énergie (Paris:LFDE) (Euronext : LFDE – ISIN
:FR0013030152), leader in industrial ecology, reports revenues of
€ 7.9 million (+ 0.3%) for the year ending June 30th, 2020,
confirming the resilience of its business model in these
unprecedent turbulent times.
During the COVID-19 pandemic period, the management has deployed
efficient work-related measures to ensure continuous group
activities while protecting both its employees and subcontractors.
LFDE has maintained all its operations on all sites and has
increased gas and electricity production by + 24% and + 35%
respectively compared to last year, confirming once again, the
stability and recurring nature of its activity.
Significant increase in annual revenues from green
electricity production: +21%
Green electricity production has remained strong thanks to
optimal operations on all sites in France (site availability
>97%) and the full year contribution of the Anderlues site in
Belgium. Revenues from green electricity production reached almost
€ 6 million at the end of June 2020 (a 21% year-on-year increase),
from which 87% is secured through guaranteed feed in tariffs. As
anticipated, while gas production improved by 24% year-on-year,
revenues have been impacted by the overall drop in gas prices, with
the average selling price falling from € 19.77 per MWh to € 11.04
per MWh in a year (-44%). On the last quarter of 2020, the Group
showed stable volumes (+0.7%) leading to € 1.7 million revenues,
impacted by depressed gas prices in France and electricity prices
in Belgium (-55% and -48% respectively when compared to Q4 2019).
The Combined Heat and Power maintenance program undertaken in Q4
2020, the continuous operational performance of the green
electricity activity and the upcoming Bethune project backed by
long-term gas, electricity and heat contracts should improve next
year’s revenues.
LFDE’s ability to perform in adverse conditions
The Group’s business plan is on track through significant
progress made on identified projects:
In Creutzwald, construction has progressed during the lockdown
period and will allow the largest solar thermal power plant in
France producing heat into a district network to be
commissioned by the end of September 2020.
The new site in Bethune (supply of gas, green electricity and
heat) will be fully operational from January 1st 2021, as per plan.
It will significantly contribute to the recurrent and stable
revenue base of the Group, with over € 2 million of additional
revenues.
In Belgium, the Group has confirmed the extension of the
existing Anderlues site with the installation of an additional 4.5
MW capacity in the first semester of 2021.
The timely delivery of these projects confirms LFDE’s expertise
and ability to execute its development plan from both an
operational and financial standpoint, notably with the securing of
a € 1.6 million State-guaranteed bank loan and the advanced
discussions with lending institutions for dedicated project
financings that will support the future Combined Heat and Power
developments.
Sustained Growth Perspectives
Fully committed to the Region where it operates, LFDE confirms
its development plan in France and Belgium with the installation of
7 new 1.5 MW units (6 MW in the Hauts-de-France and 4.5 MW in
Wallonie) over the next 12 months.
The Group has already confirmed with the relevant authorities
the nature and number of additional sites that will allow the
development of its certified reserves in the Hauts-de-France, and
this will be materialized through a “convention de mise à
disposition” to make available certain vents to LFDE.
Given the resilience of the group business model highlighted
during the health crisis but also the uncertainties associated with
the gas prices and the required authorizations from the
administration, LFDE anticipates that the installation of the
additional 37.5 MW of Combined Heat and Power will be effective in
2022.
In parallel, LFDE continues to progress on the regulatory and
financial matters related to its development project in Lorraine,
which remains a priority for the Group. Following the admissibility
of its application for a production lease, the next steps involve
the public enquiry scheduled to start in September 2020 and the
operational and financial structuring of the next production site
by the end of the calendar year.
This unprecedent macroeconomic context confirms LFDE’s
resilient business and economic model, the relevance of its
strategy and its solid financial structure. The Group remains
confident in its long-term growth and ability to deliver
successfully the additional 37.5 MW capacity, while being ready to
take advantage of potential external growth opportunities.
Next Announcement: October 14th, 2020 -
Annual Results 2019/2020
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
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