a still favorable price environment

a still favorable price environment

FDE, a producer of energy with a negative carbon footprint, presents a turnover for the first quarter of the 2023 financial year (ended on September 30, 2022) amounting to 9.7 ME, an increase of +232%, mainly driven by a further improvement in the volumes of gas and electricity produced, in a context of still high energy prices.

Excellent performance of our production of electricity in Belgium and gas in France

Turnover from electricity production amounted to €5.7 million in the first quarter of 2023 and increased by 188% compared to the first quarter of the 2022 financial year. This increase reflects the increase in Belgian income which represents over this quarter 56% of electricity sales and 34% of the group’s total revenues, thanks to the cogeneration park in Wallonia whose installed capacity has been multiplied by 2.5x between 2021 and 2022 (to 7.5 MW) and a price average sales of 163.7 euros/MWH.

In France, the Group still benefits from a guaranteed tariff with a purchase obligation for 80% of its installed capacity in France, the electricity produced from the 2 new cogeneration units put into production in July 2022 being valued under an electricity sales contract of the “Power Purchase Agreement” type with an average price of more than 200 euros/MWH over this quarter.

Over the first 3 months of the 2023 financial year, the gas production activity posted revenue of €3.7m, up on last year, thanks to higher volumes produced and lower prices. supported markets.

New developments in progress

FDE expects in the coming months to obtain administrative authorizations for the launch of the capture and recovery of mine gas on 7 new sites, some of which will be able to contribute from the 2023 financial year.

The Group has also finalized the construction of its first ground-mounted photovoltaic power plant with an installed capacity of 15 MW, which will start production in the coming days. 40 hectares have already been signed for the implementation of the Group’s next photovoltaic projects in France and 43 additional hectares are under negotiation in order to initially develop 42 MW of photovoltaic capacity.

In Lorraine, the Group is still waiting for the finalization of the examination of its concession request to start work to produce domestic gas which will be recovered in short circuits, replacing imported gas.

Finally, several projects in Europe are being contracted to produce Bio-LNG and Bio-CO2 with Cryo Pur technology. The implementation of the ongoing industrial optimization, coupled with FDE’s project management experience, will enable the group to deploy the patented technologies developed by this subsidiary in the coming months, by applying the operator model successfully developed on its existing activities.

2026 AMBITIONS CONFIRMED

Thanks to the Group’s positioning, developed over more than a decade, as a producer of low-carbon local energy, FDE is therefore strongly convinced that it will achieve for the 2026 financial year:
A turnover of more than 100 ME;
An EBITDA above 50 ME;
More than 10 million tons of CO2eq emissions avoided per year.

Next meeting with the presentation of the annual results for the 2022 financial year, on October 26, 2021.
General Meeting for the 2022 financial year: November 30, 2022.