La Française de l'Énergie
43% Revenue Growth in the 2nd Quarter of FY19/20
Regulatory News:
Keuros |
2019/2020* |
2018/2019 |
Year on year
change
(%)
Q1 sales (Jul.-Sep.)
1 813
1 605
+ 13%
Q2 sales (Oct.-Dec)
2 408
1 678
+ 43%
Half year turnover
4 221
3 283
+ 28%
* Unaudited figures
La Française de l'Énergie (Paris:LFDE) (Euronext: LFDE - ISIN: FR0013030152) recorded a 43% increase in turnover in the 2nd quarter of FY19/20 to € 2.4 million. This good momentum, driven mainly by an increase of green electricity production at its French and Belgian sites, allows the company to post half-yearly revenue up by 28% to €4.2M.
Strong growth in green electricity production activity in the first half of FY19/20
Over this period, the production of green electricity from abandoned mine gas recorded a further improvement reaching a turnover of €3.1M (+ 45% vs H1 2018/2019). This very good performance is supported by the growing contribution from the Anderlues site in Belgium (€448K) that started its production in April 2019 and by the increase in volumes at the Avion site (+ 108%). The Group's 8 cogeneration units are now operating optimally, thus offering good visibility in terms of revenue generation over the coming quarters. Finally, the regular production of the Anderlues site over this half-year demonstrates the Group's ability to implement its operational development in a quick, efficient and reliable manner.
Strong recovery of the Avion production site, offsetting the drop in gas prices over the period
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Over the six-month period, the turnover of the gas activity stabilizes at € 1.1M. However, this performance does not reflect the strong activity of the Avion site which made it possible to offset the significant impact of the drop of the average selling price of gas from €24 / MWh in the first half of FY18/19 to €13.4 / MWh in this half year. Indeed, this production site, that slowed down this summer by work on the transportation and distribution networks, recovered from the 2nd quarter onwards, showing a production volume increase over this semester of almost 70% vs. first half of FY18/19. This increase in volumes made it possible to almost entirely offset the unfavourable price effect of the period. In the second half of FY19/20, the Group expects further growth in its gas production, driven in particular by the simultaneous operation of the three electric motors acquired in 2019.