FDE

Record FY 2023 Revenues Reaching €39.2 Million (+50% yoy)

Regulatory News:

FDE (Euronext: FDE - ISIN: FR0013030152), a carbon negative energy producer, posted annual revenues of €39.2 million, up by 50% yoy, driven by increased Group’s electricity production capacities and the associated price optimization.

In Euro millions

2023*

2022

% Change

H1 Sales (Jul-Dec)

21.3

9.1

134%

H2 sales (Jan-June)

17.9

17.0

5%

Annual Revenues 2023

39.2

26.2

50%

* Unaudited numbers

Power generation activities growing steadily with high visibility already achieved on FY 2024 prices

Revenues related to electricity production almost doubled to €25.6 million (+98% compared to FY2022), driven by a further increase in the Group's electricity volumes, up by 23% over the year. This financial year benefitted from the commissioning of two additional combined heat and power units in the North of France in July 2022 and the 15 MW photovoltaic park in the East of France in January 2023. Electricity sale prices have also been further optimized with new Power Purchase Agreements, representing now 73% of the cogeneration portfolio, and reached more than €176/MWh on average over the financial year (including feed in tariff and PPA), compared to €109/MWh in FY2022. Going forward, over 47% of the PPA volumes for FY2024 have already been fixed at €230/MWh.

The gas production activity remained dynamic this year, reaching €12.3 million revenues in FY2022 (+5%), despite the unavailability of the GRT Gaz transmission network, undergoing heavy maintenance until September 2023. The Group is also working on its assets flexibility in order to maximize the associated revenues, irrespective of the networks or markets constraints and is contemplating additional valorization options in the form of electricity generation and liquefied gas production.