La Francaise De L'energie Sa · EURONEXT:FDE
La Francaise De L'energie Sa — FY2021 Earnings Presentation
26 slides from La Francaise De L'energie Sa's earnings presentation, October 2021
Slide 1: Local Energies – Positive Impacts: FY 2021 Annual Results
Local Energies – Positive Impacts FY 2021 Annual Results October 2021
Slide 2: Speakers of the Day
SPEAKERS OF THE DAY JULIEN MOULIN Executive Chairman Joined in 2009 Entrepreneur with 20 years of experience in the investment (Barclays, UBS, Maoming IM…) and renewable energy sector (Envision…) ANTOINE FORCINAL Chief Executive Officer Joined in 2015 Engineer with 15 years of experience in manageme
Slide 3: A major player in the ecological transition
A major player in the ecological transition Code Reuters : LFDE. PA – Code Bloomberg : LFDE.FD
Slide 4: A Unique Energy Producer
A UNIQUE ENERGY PRODUCER Energy Producer with negative carbon footprint Over 1 Million tons of CO2eq emissions currently avoided annually (of which 602 kT certified)* Important barriers to entry 20-25 years exclusive concession Limited competition: Only two active players in Europe/UK Owner of 10 ex
Slide 5: An Enhanced Portfolio of Energy Solutions
AN ENHANCED PORTFOLIO OF ENERGY SOLUTIONS FROM ABANDONED MINE METHANE CLIENTS GAS GREEN HEAT POWER FROM LORRAINE GAS FROM SOLAR ENERGIES PARTNERS CCS GAS HYDROGEN CARBON POWER HEAT STORAGE CLIENT Code Reuters : LFDE. PA – Code Bloomberg : LFDE.FD 5
Slide 6: Fully Engaged in the Energy Transition
FULLY ENGAGED IN THE ENERGY TRANSITION OUR CONTRIBUTION 17 MW CAPACITY TO THE UNITED NATIONS INSTALLED SO FAR SUSTAINABLE DEVELOPMENT GOALS 1 Million tons CO2eq Emission AVOIDED ANNUALLY (of which 602 kT certified)* AFFORDABLE AND INDUSTRY, INNOVATION CLIMATE CLEAN ENERGY AND INFRASTRUCTURE ACTION C
Slide 7: Recognized ESG Policy
RECOGNIZED ESG POLICY 64/ 100 55/ 100 ENVIRONMENT GOVERNANCE Environmental policies CSR policies Energy and GHG Business ethics #1 Energy company in France < €150M revenues 71/ 100 62/ 100 55/ 100 STAKEHOLDERS SOCIAL Relationships with suppliers HSE Relationships with clients and Personal Developmen
Slide 8: FY 2021 annual results
FY 2021 annual results Code Reuters : LFDE. PA – Code Bloomberg : LFDE.FD
Slide 9: Increased Revenues
A MAJOR PLAYER SIGNIFICANT IN THEINECOLOGICAL INCREASE REVENUES TRANSITION FY21 Sales: +30%, driven by a further improvement in 10,2 M€* volumes, the contribution from new low-carbon energy + 30% production sites, and the ongoing increase in prices COVID New contribution from the Bethune and Creutzw
Slide 10: Improving Financial Indicators
A MAJOR PLAYER IMPROVING IN THEINDICATORS FINANCIAL ECOLOGICAL TRANSITION Net Income EBITDA Operating (group share) Income 1.418 K€ + 1090% + 177% 2.924 K€ 274 K€ + 152% 109 K€ 1.056 K€ -143 K€ 2020 2021 2020 2021 2020 2021 Code Reuters : LFDE. PA – Code Bloomberg : LFDE.FD 10
Slide 11: Solid EBITDA thanks to efficient operating cost control
SOLID EBITDA thanks to efficient Operating cost control € in thousands 29% EBITDA margin -12 % cost reduction (opex and G&A) per MWh produced at 22,5 €/MWh
Slide 12: Increased Group Profitability
INCREASED GROUP PROFITABILITY € thousand 2021 2020 REVENUES 10 236 7 855 Other operating income 711 282 Opex (4 231) (3 934) G&A (3 560) (3 205) Other revenues and expenses 91 (77) Dotations nettes sur provisions (324) 135 EBITDA 2 924 1 057 1 Amortisation related to the new CHPs in Béthune 29 % 13
Slide 13: Strengthened Financial Structure
STRENGTHENED FINANCIAL STRUCTURE ASSET EQUITY & LIABILITIES 36% 107 M€ Net Debt to Equity Exploration assets (Lorraine) : 45,5 M€ Equity 54,3 M€ Investments FY 2021 Proven mining rights (Cellcius, Béthune, 10,7M (Gazonor et Gazonor Non current €* Benelux) : Anderlues 2, Avion 2, 24,5 M€ assets Green
Slide 14: Q1 2022 Revenues: Confirmation of Growth Going Forward
Q1 2022 REVENUES: A MAJOR PLAYER IN THE ECOLOGICAL TRANSITION CONFIRMATION OF GROWTH GOING FORWARD 63% OF REVENUES SECURED 1Q22 Sales: +87% yoy, driven by a further 2,9 M€ improvement in volumes, the contribution from new + 87% low-carbon energy production sites (Béthune and Creutzwald) and the ongo
Slide 15: Growth outlook confirmed
Growth outlook confirmed Code Reuters : LFDE. PA – Code Bloomberg : LFDE.FD
Slide 16: An Extended Growth Plan
AN EXTENDED GROWTH PLAN 2021 2022 2023 2025 CO2eq emissions avoided 1 Million tons 3 Million tons 6 Million tons annually* COGENERATION 15 MW installed 49,5 MW installed > 100 MW capacity 1 (ELECTRICITY and HEAT) (10 CHPs) (33 CHPs) (66 CHPs) Hauts-de-France Hauts-de-France Operating in 5 regions an
Slide 17: Cogeneration: Secure Deployment on Current Concessions
COGENERATION: SECURE DEPLOYMENT ON CURRENT CONCESSIONS 10 cogenerations 15 cogenerations 33 cogenerations 15 MW installed 22,5 MW installed 49,5 MW installed + Gas : Avion + Béthune (incl. + Gas : Avion + Béthune (incl. + Gas : Avion + Béthune (incl. heat) heat) heat) + new sites Dec Dec Dec 2020 20
Slide 18: Turquoise H2: Feasibility Study
TURQUOISE H2: FEASIBILITY STUDY GERMANY Steam Methane Reforming Mature technology Dilingen Völkingen Sarrebrucken Widely deployed with a significant REX Better yield compared to other reforming processes MosaHYc Need to capture and store CO2 pipeline Competitive production cost BLEUE LORRAINE GAS CO
Slide 19: Keep Creating Added Value
KEEP CREATING ADDED VALUE Pyrolysis (Turquoise H2): technology not mature at industrial scale but very promising in terms of carbon footprint. FDE involved in 2 world class consortiums: HyMEPP consortium with PLENESYS in order to validate the technology on an existing FDE site (Polytec Milan, Luxcar
Slide 20: Solar: First 15MW Photovoltaic Plant
SOLAR: FIRST 15MW PHOTOVOLTAIC PLANT Dedicated SPV created 16.5 GWh/year (35700 modules) over 24 Ha. Fixed price over 20 years : 56 € / MWh Electricity injected into the local distribution network (UEM) € 10 M investment € 2.5 M bridge financing already raised through crowdfunding Ongoing due dilige
Slide 21: Calendar Year End 2022 Targets Confirmed
CALENDAR YEAR END 2022 TARGETS CONFIRMED 35 M€ annualized EBITDA revenues margin ≥ 45% Code Reuters : LFDE. PA – Code Bloomberg : LFDE.FD 21
Slide 22: The Company Listing
THE COMPANY LISTING KEY CORPORATE INFORMATION SELL SIDE COVERAGE (as of 25 October 2021) Listing Euronext Paris ✓ BUY €24.80 / share Target Price: €28 Share price April 2021 Analyst: Henning.Breiter@ha-ib.de Shares outstanding 5.2M Market capitalisation € 129 M€ ✓ BUY Target Price: €31 October 2021
Slide 23: Annexes
y) t E@ rp Annexes g
Slide 24: A Major Player in the Ecological Transition
A MAJOR PLAYER IN THE ECOLOGICAL TRANSITION ABSOLUTE IMPACT RELATIVE IMPACT from Abandoned Mine Methane from Lorraine Gas Hauts de France Lorraine and Wallonia RELATIVE By capturing methane in abandonned mines By replacing imported gas with local gas and blue and avoiding its release to the atmosphe
Slide 25: Cogeneration: A Secure and Easily Replicable Business Model
COGENERATION: A SECURE AND EASILY REPLICABLE BUSINESS MODEL COSTS PER 1.5MW CHP SITE Capex Main Opex: Maintenance and electricity Cogeneration (c. €250K per year) Production in France Between €1.4M and €1.5M + large maintenance every 8 years ( c. and Belgium Bank financing ≥ 90% €250K one off) Order
Slide 26: La Française de l'Énergie
La Française de l’Énergie Code Reuters : LFDE. PA – Code Bloomberg : LFDE.FD Tel : +33 (0)3 87 04 32 11 ir@francaisedelenergie.fr www.francaisedelenergie.fr
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