La Francaise De L'energie Sa · EURONEXT:FDE
La Francaise De L'energie Sa — Shareholder Meeting (November 2023)
49 slides from La Francaise De L'energie Sa's shareholder meeting presentation, Nov 30, 2023
Slide 1: Local Energy – Positive Impact
Local Energy – Positive Impact Annual General Meeting (AGM/EGM) 30 November 2023
Slide 2: Agenda
A MAJOR PLAYER IN THE ECOLOGICAL TRANSITION AGENDA MANAGEMENT PRESENTATION Introduction and FY23 achievements – Julien Moulin, Chairman FY23 Results and finance – Aurélie Tan, Chief Financial Officer Operations et FY26 objectives – Antoine Forcinal, Chief Operating Officer FDE and investors relation
Slide 3: A major actor in the energy transition
A major actor in the energy transition Code Reuters : LFDE. PA – Code Bloomberg : LFDE.FD
Slide 4: Highlights of FY2023
HIGHLIGHTS OF FY2023 Record Revenues and profitability C. 40 M€ revenues : 40% of FY 2026 revenues objective already reached EBITDA margin already above FY 2026 objective Record volume of CO2eq emissions avoided > 3,5 millions tons of CO2eq emissions avoided in France and Belgium Expansion of our in
Slide 5: Our key contribution to the United Nations' SDG
OUR KEY CONTRIBUTION STO THE UNITED NATIONS’ SDG AFFORDABLE AND INDUSTRY, INNOVATION AND CLIMATE CLEAN ENERGY INFRASTRUCTURE ACTION 8 FAMILY OF INTERNATIONAL OVER 3,5 MILLION TONS CO2eq BETHUNE HEATING PROJECT PATENTS EMISSIONS AVOIDED ANNUALLY Reduction of annual Innovative system to upgrade (of wh
Slide 6: ESG Highlights
ESG HIGHLIGHTS Million tons > 10,0 E: Only energy producer with a negative carbon footprint S: Excellent HSE record 3,5 2,5 2,7 G: Climate-Related Performance Criteria 2,0 Added to group incentive plan FY 2020 FY 2021 FY 2022 FY 2023 FY 2026 target CO2eq emissions avoided during relevant fiscal year
Slide 7: Record FY 2023 Annual Results
Record FY 2023 Annual Results Code Reuters : LFDE. PA – Code Bloomberg : LFDE.FD
Slide 8: FY 2023: Record Revenues
A MAJOR FY PLAYER IN 2023: RECORD THE ECOLOGICAL TRANSITION REVENUES +50% growth overall YoY, on the back of increased Group’s electricity production 39,2 M€ capacities (+23%) and price optimization FY23 Electricity: 25.6 M€ (+98%, with the contribution from 2 new CHPs and the 15 + 48% CAGR MW PV pl
Slide 9: Outstanding growth in all financial aggregates
A MAJOR PLAYER OUTSTANDING IN THE ECOLOGICAL GROWTH TRANSITION IN ALL FINANCIAL AGGREGATES EBITDA Current Operating Net Income Income (group share) 26,7 M€ 23,0 M€ + 77% +61% +64% 12,0 M€ 14,3 M€ 15,1 M€ 7,3 M€ 68% EBITDA Margin FY 2022 FY 2023 FY 2022 FY 2023 FY 2022 FY 2023 EBITDA margin above FY2
Slide 10: Increased Group Profitability
INCREASED GROUP PROFITABILITY € thousand FY 2023 FY 2022 REVENUES 39 227 26 220 Other operating income 1 048 461 Continuous cost control: COGS down from 24% 1 Opex 1 (5 208) (6 343) of revenues in FY22 to 12% in FY23 G&A (8 450) (6 386) 2 In an inflationary environment, normative SG&A 2 Other revenu
Slide 11: Solid Financial Structure
SOLID FINANCIAL STRUCTURE ASSET EQUITY & LIABILITIES 163 M€ (+11%) 34% Exploration assets (Lorraine) : 39 M€ Equity Net Debt 74 M€ to Equity Proven mining rights (Gazonor & Gazonor Non current Benelux) : assets 24 M€ Investments 112 M€ - CHPs: 5,9 M€ 10,3 M€ Tangible assets : - PV: 4,0 M€ 38 M€ (+ 9
Slide 12: Sustained energy prices and visibility on cash flows generation
SUSTAINED A ENERGY MAJOR PLAYER IN PRICES AND VISIBILITY THE ECOLOGICAL ON CASH FLOWS GENERATION TRANSITION 200 GAS PRICE (€/MWH) Jui 22 160 95 € Gas revenues: 120 - 33% of rest of FY24 fixed at c. Jui 23 Cal 2024 (e) 80 Cal 2025 (e) Cal 2026 (e) Cal 2027 (e) 48€/MWH Jul 19- Dec 22 34 € 44 € 42 € 36
Slide 13: Confirmed positive financial outlook
A MAJOR PLAYER CONFIRMED IN THE POSITIVE ECOLOGICAL FINANCIAL TRANSITION OUTLOOK Strong visibility on cash flow generation - Long-term fixed-price contracts for 1/3 of the electricity portfolio - Revenues optimization through Power Purchase Agreements (PPAs) with leading actors Profitable activity -
Slide 14: Major development confirmed
Major development confirmed Code Reuters : LFDE. PA – Code Bloomberg : LFDE.FD
Slide 15: FDE's 2026 Growth Plan
FDE’S 2026 GROWTH PLAN Today 2026 CO2eq emissions avoided > 3,5 Million tons* > 10 Million tons annually* 22,5 MW installed > 100 MW capacity COGENERATION (15 CHPs) (66 CHPs) 1 (ELECTRICITY and HEAT) Hauts-de-France Operating in 5 regions and Belgium SOLAR 17 MW installed > 100 MW installed 2 (THERM
Slide 16: Ongoing Developments
ONGOING DEVELOPMENTS Permitting related to new sites in order to double the existing capacity FDE has pushed 2 options: re-use of the existing wells, property of the State, but also drilling new wells Authorizations to test the existing wells obtained: a testing campaign is planned in the next few m
Slide 17: Solar: Building up a high-quality portfolio
SOLAR: BUILDING UP A HIGH-QUALITY PORTFOLIO Despite eligible to feed in tariff, decision to move forward with Power Purchase Agreements (3 years) in order to capture market opportunity Projects sanctionned and started by the Group to date (62 MW additional): 18 MW in the Hauts-de- France Region 29 M
Slide 18: H2 and Gas: Bleue Lorraine Concession
H2 AND GAS : BLEUE LORRAINE CONCESSION GERMANY SMR + CO2 capture (Cryo Pur) Völkingen Sarrebrucken Dilingen Mature technology Widely deployed with a significant REX MosaHYc Better yield compared to other reforming processes pipeline BLEUE LORRAINE GAS CONCESSION Plasma Pyrolysis Technology under dev
Slide 19: Natural H2: A major discovery
NATURAL H2: A MAJOR DISCOVERY Natural H2 Significant discovery made in Folschviller Appraisal program (Regalor II): ongoing Permit application submitted by FDE to secure licence Application for the « Trois Evêchés » permit (>2000 km2): ongoing FOLSHVILLER • Evaluation of potential • Pilot well • Pro
Slide 20: Cryo Pur: A unique, global and patented solution
A CRYO PUR: A UNIQUE, GLOBAL AND PATENTED SOLUTION Fossil fuel substitution for the consumer ▪ Fully integrated process for upgrading-liquefaction ▪ Low electricity consumption ▪ Liquid CO2 recovery at 99,9% purity ▪ Maximal Biomethane recovery rate (NO methane slip) ▪ High biomethane purity (<50 pp
Slide 21: Ramping up of our development in Norway
RAMPING UP OF OUR DEVELOPMENT IN NORWAY Development and Optimised financing construction • Strategic partnerships with • Proven technology dedicated SPVs • Standardized approach for a • 10-year Project finance with large deployment: pre- c. 80% gearing assembled and shipped units • Subsidies availab
Slide 22: 4 Norwegian sites to be submitted for permitting
4 NORVEGIAN SITES TO BE SUBMITTED FOR PERMITTING Stavanger site (picture): 100 GWh/y with extension Detailed engineering ongoing Land and 2/3 of feedstock secured Construction to be started after permitting is obtained in 2024 4 PROJECTS TO BE SUBMITTED FOR APPLICATION FOR ENOVA SUPPORT IN MARCH 202
Slide 23: LBG and Bio-CO2 economics in Norway
LBG AND BIO-CO2 ECONOMICS IN NORWAY Growth market with Biogas demand to increase from ➢ c. 45 M€ NPV/Site* 35 bcm to at least 70-199 bcm by 2030 (x2-5) (1) *1750 Nm3 biogas treated with 60% CH4 Per Total CAPEX standard 20-30 M€ Site Cryo Pur equipment, Bio Digester etc. Financed through 40% debt, 15
Slide 24: FY 2026 Targets
FY 2026 TARGETS > 100 M€ annual revenues EBITDA > 50 M€ > 10 M tons of CO2eq emissions avoided per year Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 24
Slide 25: FDE and investors relations
FDE and investors relations Code Reuters : LFDE. PA – Code Bloomberg : LFDE.FD
Slide 26: Continuous engagement with our shareholders
CONTINUOUS ENGAGEMENT WITH OUR SHAREHOLDERS 20 conferences in France, Belgium, Germany, Norway and the UK Investors conferences Over 220 institutional investors met 1 Over 600 retail investors met 2 Site visits 35 site visits from investors and shareholders 21 press releases so far in 2023 Newsflow
Slide 27: FDE Listing
FDE LISTING KEY CORPORATE INFORMATION SELL SIDE COVERAGE (as of 29 November 2023) ✓ BUY Target Price: €67 Listing Euronext Paris November 2023 Analyst: simon.jouck@ha-ib.de Share price €46,9 / share 5,2 M ✓ BUY Shares outstanding 244 M€ Target Price: €72 Market capitalisation November 2023 Analyst:
Slide 28: Agenda
A MAJOR PLAYER IN THE ECOLOGICAL TRANSITION AGENDA MANAGEMENTT PRESENTATION Introduction and FY23 achievements – Julien Moulin, Chairman FY23 Results and finance – Aurélie Tan, Chief Financial Officer Operations et FY26 objectives – Antoine Forcinal, Chief Operating Officer FDE and investors relatio
Slide 29: Auditor's report on the annual accounts
A MAJORdu Rapport PLAYER IN THE aux commissaire ECOLOGICAL TRANSITION comptes sur les comptes annuels Opinion En exécution de la mission qui nous a été confiée par votre assemblée générale, nous avons effectué l’audit des comptes annuels de la société La Française de l’Energie relatifs à l’exercice
Slide 30: Auditor's report on the annual accounts
ARapport MAJORdu Rapport PLAYER du IN THE aux commissaire commissaire ECOLOGICAL comptesTRANSITION auxcomptes sur les comptes annuels Description du risque Procédures d’audit mises en œuvre en réponse à ce risque Evaluation des actifs d’exploitation Nos travaux ont consisté à examiner les indicateur
Slide 31: Auditor's report on the annual accounts
A MAJORdu Rapport PLAYER IN THE aux commissaire ECOLOGICAL TRANSITION comptes sur les comptes annuels Description du risque Procédures d’audit mises en œuvre en réponse à ce risque Evaluation des titres de participation et créances envers les Pour apprécier le caractère raisonnable de la valorisatio
Slide 32: Auditor's report: specific verifications (1/2)
A MAJORdu Rapport PLAYER IN THE aux commissaire ECOLOGICAL TRANSITION comptes sur les comptes annuels Vérifications spécifiques (1/2) Nous avons également procédé, conformément aux normes d’exercice professionnel applicables en France, aux vérifications spécifiques prévues par les textes légaux et r
Slide 33: Auditor's report: specific verifications (2/2)
A MAJORdu Rapport PLAYER IN THE aux commissaire ECOLOGICAL TRANSITION comptes sur les comptes annuels Vérifications spécifiques (2/2) Autres informations En application de la loi, nous nous sommes assurés que les diverses informations relatives aux prises de participation et de contrôle et à l’ident
Slide 34: Auditor's report on the consolidated accounts
ARapport MAJOR du PLAYER IN THE ECOLOGICAL commissaire aux comptesTRANSITION sur les comptes consolidés Opinion En exécution de la mission qui nous a été confiée par votre assemblée générale, nous avons effectué l’audit des comptes consolidés de la société La Française de l’Energie relatifs à l’exer
Slide 35: Auditor's report on the consolidated accounts
ARapport MAJOR du AUDITOR’SPLAYER IN–THE commissaire REPORT ECOLOGICAL aux comptes comptes TRANSITION sur les comptes consolidés consolidés Description du risque Procédures d’audit mises en œuvre en réponse à ce risque Evaluation des actifs d’exploration Nos travaux ont consisté à examiner les indic
Slide 36: Auditor's report on the consolidated accounts
ARapport MAJOR du AUDITOR’SPLAYER IN–THE commissaire REPORT ECOLOGICAL aux comptes comptes TRANSITION sur les comptes consolidés consolidés Description du risque Procédures d’audit mises en œuvre en réponse à ce risque Evaluation des droits miniers Nos travaux ont consisté à examiner les indicateurs
Slide 37: Auditor's report on the consolidated accounts
ARapport MAJOR du AUDITOR’SPLAYER IN–THE commissaire REPORT ECOLOGICAL aux comptes comptes TRANSITION sur les comptes consolidés consolidés Description du risque Procédures d’audit mises en œuvre en réponse à ce risque Evaluation des écarts d’acquisition Pour apprécier le caractère raisonnable de la
Slide 38: Auditor's report: specific verifications
ARapport MAJOR du AUDITOR’SPLAYER IN THE ECOLOGICAL commissaire REPORT aux comptesTRANSITION sur les comptes consolidés Vérifications spécifiques Nous avons également procédé, conformément aux normes d'exercice professionnel applicables en France, aux vérifications spécifiques prévues par les textes
Slide 39: Auditors' report on regulated agreements
ARapport MAJORdu Rapport PLAYER des IN THE aux ECOLOGICAL commissaires commissaire aux TRANSITION comptes comptes sur les conventions règlementées En notre qualité de commissaires aux comptes de votre société, nous vous présentons notre rapport sur les conventions réglementées. Il nous appartient de
Slide 40: Agreements submitted for approval of the general meeting
ARapport MAJORdu Rapport PLAYER des IN THE aux ECOLOGICAL commissaires commissaire aux TRANSITION comptes comptes sur les conventions règlementées CONVENTIONS SOUMISES A L’APPROBATION DE L’ASSEMBLEE GENERALE Conventions autorisées au cours de l’exercice écoulé En application de l’article L.225-40 du
Slide 41: Agreements already approved by the general meeting
ARapport MAJORdu Rapport PLAYER des IN THE aux ECOLOGICAL commissaires commissaire aux TRANSITION comptes comptes sur les conventions règlementées CONVENTIONS DEJA APPROUVEES PAR L’ASSEMBLEE GENERALE Conventions approuvées au cours de l’exercice écoulé Nous avons par ailleurs été informés de l’exécu
Slide 42: Agenda
A MAJOR PLAYER IN THE ECOLOGICAL TRANSITION AGENDA MANAGEMENTT PRESENTATION Introduction and FY23 achievements – Julien Moulin, Chairman FY23 Results and finance – Aurélie Tan, Chief Financial Officer Operations et FY26 objectives – Antoine Forcinal, Chief Operating Officer FDE and investors relatio
Slide 43: Ordinary agenda
A MAJOR PLAYER ORDINARY AGENDAIN THE ECOLOGICAL TRANSITION 1. Approval of the company accounts for the financial year ending 30 June 2023; 2. Discharge of the members of the Board of Directors; 3. Approval of the consolidated accounts for the financial year ending 30 June 2023; 4. Allocation of the
Slide 44: Extraordinary agenda (1/2)
A MAJOR PLAYER AGENDA EXTRAORDINARY IN THE ECOLOGICAL (1/2) TRANSITION 15. Delegation to the Board of Directors to reduce the share capital by cancelling treasury shares; 16. Delegation of authority to the Board of Directors to decide to increase the share capital, by issuing – with preferential sub
Slide 45: Extraordinary agenda (2/2)
A MAJOR PLAYER AGENDA EXTRAORDINARY IN THE ECOLOGICAL (2/2) TRANSITION 21. Authorisation to be granted to the Board of Directors to set the price of issues of ordinary shares or securities that are capital securities giving access to other capital securities or giving the right to the allocation of
Slide 46: Agenda
A MAJOR PLAYER IN THE ECOLOGICAL TRANSITION AGENDA MANAGEMENTT PRESENTATION Introduction and FY23 achievements – Julien Moulin, Chairman FY23 Results and finance – Aurélie Tan, Chief Financial Officer Operations et FY26 objectives – Antoine Forcinal, Chief Operating Officer FDE and investors relatio
Slide 47: Agenda
A MAJOR PLAYER IN THE ECOLOGICAL TRANSITION AGENDA MANAGEMENTT PRESENTATION Introduction and FY23 achievements – Julien Moulin, Chairman FY23 Results and finance – Aurélie Tan, Chief Financial Officer Operations et FY26 objectives – Antoine Forcinal, Chief Operating Officer FDE and investors relatio
Slide 48: Next announcements
NEXT ANNOUNCEMENTS 24 january 2024– H1 2021 Revenues 7 march 2024 – Lorraine Development Plan Presentation 21 march 2024 – H1 2024 Results Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 48
Slide 49: 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
La Française de l'Énergie — Shareholder Meeting (November 2023) on 6ix