FDE

Revenue of €17.6 Million in H1 2024

Regulatory News:

FDE (Euronext : FDE - ISIN : FR0013030152), a carbon negative energy producer, posted H1 2024 revenues of €17.6 million, mainly driven by a further improvement in electricity sales volumes for the period (+13%), despite the volatility of the energy price environment.

In Euro millions *

2024

2023

Q1 sales

8,1

9,6

Q2 sales

9,5

11,7

H1 sales

17,6

21,3

* Unaudited numbers

Increase in electricity production volumes in a volatile market environment

The revenue from electricity production slightly increased in the first half of 2024, reaching €13.0 million. This improvement reflects the strong performance of the cogeneration plants in Hauts-de-France and Wallonia, along with the expansion of solar photovoltaic capacity associated with the 15 MW park in Tritteling, despite less favourable prices compared to the previous year. As of now, over 50% of the estimated electricity production is fixed at over €140/MWh for the remainder of the calendar year 2024.

During the first 6 months of the 2024, the gas production activity recorded decreased revenues from €7.6 million to €4.0 million as FDE experienced an extended unavailability of the GRTgaz transport network until September 2023. The Group is currently involved in two proceedings with GRTgaz for the compensation of damages incurred and loss of income. Furthermore, FDE continues to optimize the fixing of future prices to take advantage of the volatility of the gas market.

Revenues from heat sales, related to the Béthune project and the solar thermal power plant in Creutzwald, amounted to €206,000 for this semester.

The contribution of Cryo Pur for the first 6 months is €430,000, primarily representing income from the operation and maintenance of Bio-LNG and Bio-CO₂ production facilities in Ireland and Norway, pending the forthcoming establishment of new Bio-LNG and Bio-CO₂ production sites in Europe.