La Francaise De L'energie Sa · EURONEXT:FDE

La Francaise De L'energie Sa — Shareholder Meeting (December 2016)

31 slides from La Francaise De L'energie Sa's shareholder meeting presentation, December 2016

  1. Slide 1: Annual General Meeting 2016

    ANNUAL GENERAL MEETING 2016 Reuters code: LFDE.PA Bloomberg code: LFDE.FP DECEMBER 2016 Slide 1

  2. Slide 2: Disclaimer

    Disclaimer The presentation is confidential and is being provided to you solely for your information, and it may not be reproduced, redistributed or published (whether internally or externally to your company), directly or indirectly, in whole or in part, to any other person. No reliance should be p

  3. Slide 3: Agenda

    Agenda  INTRODUCTION – Julien Moulin, Executive Chairman  FINANCIAL RESULTS AND PERFORMANCE – Johannes Niemetz, CFO  OPERATIONAL RESULTS – Antoine Forcinal, COO  GOVERNANCE – Christophe Charlier and Jean Fontourcy, Non-Executive Directors  STRATEGY AND OUTLOOK – Julien Moulin and Antoine Forcin

  4. Slide 4: Agenda

    Agenda  INTRODUCTION – Julien Moulin, Executive Chairman  FINANCIAL RESULTS AND PERFORMANCE – Johannes Niemetz, CFO  OPERATIONAL RESULTS – Antoine Forcinal, COO  GOVERNANCE – Christophe Charlier and Jean Fontourcy, Non-Executive Directors  STRATEGY AND OUTLOOK – Julien Moulin and Antoine Forcin

  5. Slide 5: A challenging price environment

    A challenging price environment Gas price in Europe (in Eur / MWh) 40 35 30 Euro / MWh (nominal) 25 20 15 10 5 0 Jul-2011 Jul-2012 Jul-2013 Jul-2014 Jul-2015 Jul-2016 Prix des contrats Historic price of LT LT historiques contracts Zeebrugge Slide 5

  6. Slide 6: 2015/16 Financial Highlights

    2015/16 Financial Highlights LFDE becomes the 1st gas producer in France TRANSFORMATIONAL ACQUISITION OF GAZONOR  Acquisition completed in July 2016 for 19.8 m€  2 production licenses and 2 exclusive exploration permits  225 BCF of 2P reserves and 1.9 TCF of 2C contingent resources.  CMM green e

  7. Slide 7: Taking advantage of the challenging market environment

    Taking advantage of the challenging market environment DELIVERING ON THE WORK TAKING ADVANTAGE OF THE PROGRAMME MARKET SITUATION AND APPLYING Lorraine: COST DISCIPLINE  All tenders COMPLETED  25 MEUR for the first phase of the pre-development  Very competitive costs obtained for campaign roll-out

  8. Slide 8: Financial discipline – cost management

    Financial discipline – cost management • Group run-rate / working capital fully covered by the Gazonor activities (gas & electricity sales) from mid 2017 onwards LFDE Group FYE June 2016 16 people – 8.9m € Opex* Historic run-rate * includes 1.9m € of IPO and  250-300 k€ at LFDE before acquisition r

  9. Slide 9: Result => A competitive cost structure

    Result => A competitive cost structure La Francaise de L'Energie cost (Capex + Opex) breakdown FDE's Long Term Marginal Costs European Prices above Wood Mackenzie Substantially Lower vs. Competition FDE's full marginal cost Gas Prices Capex (Liquefaction €/MCF unit) Capex (pipeline) FDE's Cost Advan

  10. Slide 10: Solid financing structure for roll-out: No Debt

    Solid financing structure for roll-out: No Debt Senior Debt Gazonor Electricity Project More than 60m € in 10 m € staged Lorraine CBM pre- tranches currently development being secured 20m € Gazonor Electricity Project Operational Cash 10 m € Flow Gazonor Lorraine CBM pre- Max > €20m over 3 years dev

  11. Slide 11: 2016 Group Financials – Overview

    2016 Group Financials – Overview Key P&L figures (before acquisition of Gazonor) Exploration Capex on permits Figures in € as of 30th June 2016 Figures in € as of 30th June 2016 P&L ITEM 30 JUNE 2016 30 JUNE 2015 BALANCE SHEET ITEM CAPITALIZED EXPENSES TURNOVER - - BLEUE LORRAINE 27,854,409 BLEUE LO

  12. Slide 12: Pro Forma 2016

    Pro Forma 2016 2016 2015 Francaise de Groupe LFDE Total Total FYE June L’Energie Int S.A (Pro forma) (Pro forma) € € € € Revenues from gas sales - 3,860,798 3,860,798 4,890,241 Cost of sales - (527,198) (527,198) (987,611) Changes in inventories - 43,321 43,321 56,282 Gross Profit 3.376.921 3.290.27

  13. Slide 13: 2016 Stand Alone Annual Accounts

    2016 Stand Alone Annual Accounts Key P&L figures KEY Balance Sheet figures Figures in € as of 30th June 2016 Figures in € as of 30th June 2016 P&L ITEM 30 JUNE 2016 30 JUNE 2015 BALANCE SHEET ITEM 30 JUNE 2016 TURNOVER - - TOTAL ASSETS 60,336,023 OPERATING EXPENSES (5,684,043) (891,009) SHAREHOLDER

  14. Slide 14: Agenda

    Agenda  INTRODUCTION – Julien Moulin, Executive Chairman  FINANCIAL RESULTS AND PERFORMANCE – Johannes Niemetz, CFO  OPERATIONAL RESULTS – Antoine Forcinal, COO  GOVERNANCE – Christophe Charlier and Jean Fontourcy, Non-Executive Directors  STRATEGY AND OUTLOOK – Julien Moulin and Antoine Forcin

  15. Slide 15: Significant gas reserves ready to be developed

    Significant gas reserves ready to be developed CMM activities 1 Nord-Pas-de-Calais BELGIUM  Existing Production CBM activities 1 3  2 production permits  Current CMM production and up- 2 coming roll-out of gas-to-power  CBM exploration FRANCE 2 Lorraine  Prodution to start in H2 2017  CBM rese

  16. Slide 16: CMM – North Region France

    CMM – North Region France (Gazonor) • Renewal of the two production permits of Poissonnière et Désirée until 2042: high visibility of LFDE's cash flow generation through the gas to power activity Avion Divion Désirée LFDE Gas-to-power 50% 100% 100% 58% Gas sales (Bcf) 1.1 0.0 0.0 1.1 Capacity (MW) 3

  17. Slide 17: CBM (Lorraine)

    CBM (Lorraine) 2016-2018  14 drilling permits granted in Longeville, Zimming and Lachambre 1st production platform to start production in 2017  Development of 4 adjacent areas on the Bleue Lorraine permit: (Longeville, Zimming, Lachambre and Pontpierre)  Confirm the commerciality of 4 coal seams

  18. Slide 18: An eco friendly gas: 10x lower carbon footprint

    AN ECO FRIENDLY GAS GHG emission of French gas mix 32g LNG and gas piped HIGHEST STANDARDS CO2/kWh Study conducted in Carbon accordance with the Footprint requirement of ISO/TS 14067 10x INDEPENDENT EXPERTS LOWER Prof. Dr. Birgit Grahl – INTEGRAHL versus imported gas mix Dr. Jacques Pironon GHG emis

  19. Slide 19: Re-Organisation and strengthening of the team

    Re-Organisation and strengthening of the team • Integration of Gazonor in LFDE group following completion of the acquisition – Re-organisation of work scope of each of the 8 employees to focus on: – Implementation of the first 4 sites of gas to power production – Improvement of equipment's' availabi

  20. Slide 20: Agenda

    Agenda  INTRODUCTION – Julien Moulin, Executive Chairman  FINANCIAL RESULTS AND PERFORMANCE – Johannes Niemetz, CFO  OPERATIONAL RESULTS – Antoine Forcinal, COO  GOVERNANCE – Christophe Charlier and Jean Fontourcy, Non-Executive Directors  STRATEGY AND OUTLOOK – Julien Moulin and Antoine Forcin

  21. Slide 21: Evolution of the corporate governance

    Evolution of the corporate governance  Enlarged board with 5 members  4 new members elected in March 2016  Evolution of the board with creation of two specialised committees:  Audit  Remuneration  60% of independent directors  80% of non executive directors Slide 21

  22. Slide 22: New board members

    New board members (nomination already approved at the March 2016 EGM) Cécile Maisonneuve Alain Liger Chairwoman of the Vinci foundation Former head of the Mining Committee at the Former head of the energy center at IFRI French ministry of Industry and Economy Former public relation manager at AREVA

  23. Slide 23: New board members

    New board members (nomination already approved at the March 2016 EGM) Jean Fontourcy Christophe Charlier Former Deputy CEO of Crédit Agricole Former board member of Rusal, Polyus Former Chairman of CDR Holdings Gold Acting representative of several LFDE Former senior banker at JP Morgan and sharehol

  24. Slide 24: An active Board of Directors

    An active Board of Directors • Board of Directors • Audit committee (Created in March 2016) – 2 meetings – 12 meetings – 100% participation ratio – 87.5% participation ratio • Remuneration committee (Created in March 2016) – 2 meetings – 100% participation ratio Slide 24

  25. Slide 25: Agenda

    Agenda  INTRODUCTION – Julien Moulin, Executive Chairman  FINANCIAL RESULTS AND PERFORMANCE – Johannes Niemetz, CFO  OPERATIONAL RESULTS – Antoine Forcinal, COO  GOVERNANCE – Christophe Charlier and Jean Fontourcy, Non-Executive Directors  STRATEGY AND OUTLOOK – Julien Moulin and Antoine Forcin

  26. Slide 26: Massive ramp up of CBM production

    Massive ramp up of CBM production Value creation Prod: 25 Bcf over 12 years Prod: 280 Bcf over 16 years Prod: 70 Bcf per year c.€175m gross revenues over c.€2Bn gross revenues over the c.€490m of annual gross the period period revenues FDE to address more than 5% of French annual gas consumption Rep

  27. Slide 27: Agenda

    Agenda  INTRODUCTION – Julien Moulin, Executive Chairman  FINANCIAL RESULTS AND PERFORMANCE – Johannes Niemetz, CFO  OPERATIONAL RESULTS – Antoine Forcinal, COO  GOVERNANCE – Christophe Charlier and Jean Fontourcy, Non-Executive Directors  STRATEGY AND OUTLOOK – Julien Moulin and Antoine Forcin

  28. Slide 28: Agenda

    Agenda  INTRODUCTION – Julien Moulin, Executive Chairman  FINANCIAL RESULTS AND PERFORMANCE – Johannes Niemetz, CFO  OPERATIONAL RESULTS – Antoine Forcinal, COO  GOVERNANCE – Christophe Charlier and Jean Fontourcy, Non-Executive Directors  STRATEGY AND OUTLOOK – Julien Moulin and Antoine Forcin

  29. Slide 29: Agenda

    Agenda  INTRODUCTION – Julien Moulin, Executive Chairman  FINANCIAL RESULTS AND PERFORMANCE – Johannes Niemetz, CFO  OPERATIONAL RESULTS – Antoine Forcinal, COO  GOVERNANCE – Christophe Charlier and Jean Fontourcy, Non-Executive Directors  STRATEGY AND OUTLOOK – Julien Moulin and Antoine Forcin

  30. Slide 30: Agenda

    Agenda  INTRODUCTION – Julien Moulin, Executive Chairman  FINANCIAL RESULTS AND PERFORMANCE – Johannes Niemetz, CFO  OPERATIONAL RESULTS – Antoine Forcinal, COO  GOVERNANCE – Christophe Charlier and Jean Fontourcy, Non-Executive Directors  STRATEGY AND OUTLOOK – Julien Moulin and Antoine Forcin

  31. Slide 31: Thank you for your on-going support

    Thank you for your on-going support Reuters code: LFDE.PA Bloomberg code: LFDE.FP  CONTACT  Française de l’Energie - Investor Relations - 1 Avenue St Remy, 57600 Forbach, France  Tél: +33 (0)3 87 04 32 11 - ir@francaisedelenergie.fr - http://www.francaisedelenergie.fr

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