FDE

Record Revenues of €20.8 Million in H1 2023, +129% YoY

Regulatory News:

FDE (Euronext : FDE - ISIN : FR0013030152), a carbon negative energy producer, posted H1 2023 revenues of €20.8 million, up by +129% year-on-year, mainly driven by a further improvement in volumes produced, in a context of volatile but still favorable energy prices.

In Euro million *

2023

2022

YoY %

Q1 2023 sales

9.7

2.9

234%

Q2 2023 sales

11.1

6.2

79%

H1 2023 sales

20.8

9.1

129%

* Unaudited numbers

Increased production capacity in a supporting energy environment

As of December 31^st, 2022, revenues from electricity generation were multiplied by 3 and amounted to €12.7 million. This strong performance was achieved on the back of increased cogeneration capacity in Hauts-de-France and Wallonia, reaching now 15 MW (+50%).

The Group still benefits from a feed-in tariff for 53% of its installed capacity in France and Belgium, the electricity produced by the 5 new CHPs installed in the course of 2022 being monetized through Power Purchase Agreements (PPAs), with an average selling price of more than 250 €/MWH over this semester.

In H1 2023, gas revenues increased to €7.6 million, up by 56% YoY, in a supporting energy prices market.

Revenues from the sale of heat in Béthune and Creutzwald amounted to €246 k and Cryo Pur’s contribution over this semester was €266 k and mainly represents the final revenues associated with the sale of the LBG and Bio-CO₂ installation in Norway.

Ongoing organic growth developments

Discussions related to the administrative authorizations required for the additional CHPs roll-out on 7 new sites in France are progressing, in a context where monetizing the electricity produced under PPAs allows the Group to optimize its revenues stream, without any price caps. To date, a large part of the selling prices under these PPAs are fixed at over €230 /MWH for the next 12-months.