La Francaise De L'energie Sa · EURONEXT:FDE
La Francaise De L'energie Sa — Investor Day (April 2022)
33 slides from La Francaise De L'energie Sa's investor day presentation, Apr 27, 2022
Slide 1: Local Energy – Positive Impact
Local Energy – Positive Impact Investor Day – Q3 revenue update and Cryo Pur acquisition April 27th, 2022
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: FDE: Built for Success
FDE : BUILT FOR SUCCESS Developing the leading negative carbon energy • Over 3 Million tons of CO2eq emissions currently avoided annually* producer With a pan European • 12 sites already in production and commissioned in 4 countries (France, Belgium, UK, Norway) footprint • 6 sites producing electri
Slide 4: Our Portfolio of Sustainable Energy Solutions
OUR PORTFOLIO OF SUSTAINABLE ENERGY SOLUTIONS • Abandoned Mine Methane (AMM) – 2 sites in operation • Coal Bed Methane (CBM) – Awaiting state approval on the application for a long term production permit GAS • Liquefied Biogas (LBG) – 2 sites in operations • Abandoned Mine Methane (AMM) – 6 sites in
Slide 5: Our Contribution to the United Nations' SDG
OUR CONTRIBUTION TO THE UNITED NATIONS’ SDG AFFORDABLE AND INDUSTRY, INNOVATION AND CLIMATE CLEAN ENERGY INFRASTRUCTURE ACTION 7 FAMILY OF INTERNATIONAL OVER 3 MILLION TONS CO2eq BETHUNE HEATING PROJECT PATENTS EMISSIONS AVOIDED ANNUALLY Reduction of annual Innovative system to upgrade (of which 1,4
Slide 6: Best-in-Class Extra Financial Ranking
BEST-IN-CLASS EXTRA FINANCIAL RANKING ENVIRONMENT GOVERNANCE Environmental policies CSR policies Energy and GHG Business ethics Improvement for the 5th year as the leading SME in the energy sector SOCIAL 65/ 100 STAKEHOLDERS HSE Relationships with Personal Development suppliers Relationships with cl
Slide 7: Q3 2022 Revenues Strong
Q3 2022 REVENUES A MAJOR PLAYER IN –THE STRONG REVENUES ECOLOGICAL ACCELERATION TRANSITION 16,9 M€ GAZ AND ELECTRICTY PRICE IN BELGIUM(€/MWH) (excluding Cryo Pur) Cal 2022 (e) 80 77 € Cal 2023 (e) 70 Mar 22 64 € Cal 2024(e) 60 48 € 53 € + 131% 50 40 Jul 19-Mar 22 30 20 € 20 10 0 jun 20 5€ Jul-19 Jan
Slide 8: A Major Financial Player in the Ecological Transition
A MAJORFINANCIAL STRONG PLAYER IN METRICS THE ECOLOGICAL TRANSITION as of 31/12/2021 6-m EBITDA 6-m Operating Income 6-m Net Income 5.673 K€ (group share) 4.793 K€ 2.580 K€ x6 x 17 x 25 907 K€ 62% 287 K€ EBITDA Margin 102 K€ H1 2021 H1 2022 H1 2021 H1 2022 H1 2021 H1 2022 Cash Position 23,1 M€ Acqui
Slide 9: A New Leader in Green Gas and Bio CO2
A NEW LEADER IN GREEN GAS AND BIO CO2… NOW PART OF FDE Source : Greenville Site, Ireland, 2020 Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 9
Slide 10: Cryo Pur: Solving the Methane and CO2 Issues
CRYO PUR : SOLVING THE METHANE AND CO2 ISSUES Activity: Technology leader dedicated to upgrading and liquefaction of gas (from biogas, landfill gas, flare gas, grid gas, industrial gas) Intellectual Property : 7 families of international patents Team : 14 people lead by a Nobel Prize for his IPCC co
Slide 11: From R&D to an Acceleration of Commercial Roll-out
FROM R&D TO AN ACCELERATION OF COMMERCIAL ROLL-OUT Acquisition by FDE Operation of the world Pilot phase of the BioGNVal first commercial unit of project with Suez (120Nm3/h LBG and Bio-Co2 (UK) biogas) Cryo Pur selected as FrenchTech Ambassador for COP 21 in Paris Design of two 710 Nm3/h units for
Slide 12: LNG: A Solution for Monetizing Stranded Gas Assets
LNG: A SOLUTION FOR MONETIZING STRANDED GAS ASSETS… In many countries, it is a challenge to connect small-scale methane production sites to the natural gas grid network In Europe, even in countries with a denser grid, about 1/4 of potential biomethane projects are precluded due to grid limitations (
Slide 13: Our Vision of the Future of the Biogas Industry
OUR VISION OF THE FUTURE OF THE BIOGAS INDUSTRY ENVIRONMENTAL ASSESSMENTS FINANCIAL ASSESSMENTS TECHNICAL ASSESSMENTS • A growing need for bio fuels to power Heavy • CO2 is not waste, it is valuable Transforming waste to energy rely on a Duty Vehicles, ships • Circular economy is a long term, win-wi
Slide 14: Growth of Biomethane in Europe
GROWTH OF BIOMETHANE IN EUROPE Historically most of the biogas produced is burnt (co-generation) – that was the first wave Then incentives were implemented so now out of the 1,000 + biomethane production units in operation as of the end of 2021, more than 90% of production is injected into the netwo
Slide 15: Example of the Opportunity in the Shipping Industry
EXAMPLE OF THE OPPORTUNITY IN THE SHIPPING INDUSTRY 2020: 175 merchant marine vessels are powered by LNG (mainly in the 3 families with the highest emissions) 2021: 200 ordered By 2024: 250 addition LNG vessels to come to the market Source: BioLNG in transport –joint white paper EBA- Sea LNG Emissio
Slide 16: Cryo Pur Opportunity: Fuel for Cars and Trucks
CRYO PUR OPPORTUNITY: FUEL FOR CARS AND TRUCKS Transport (excluding aviation) accounts for 25% of Europe's greenhouse gas emissions More fuel will come fom Biofuels: Biofuels of all generations represent just under 20% of forecast consumption for 2030 with LBG and biomethane to represent approximate
Slide 17: Cryo Pur's Double Impact
CRYO PUR’S DOUBLE IMPACT Methane emission mitigation for farmers, cooperatives, waste managers, industrials and oil producers Fossil fuel substitution for the consumer Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 17
Slide 18: Cryo Pur's Production of LBG and Bio CO2
CRYO PUR’S PRODUCTION OF LBG AND BIO CO2 • All technical options implemented • Use controlled cooling for the valorization of molecules of interest • The molecules of interest are CH4; CO2, CO, H2, Rare gases • Cryo Pur and Bio LNG: cryogenics makes it possible to produce Bio LNG at 50 ppm of residu
Slide 19: First Industrial Demonstrator with Suez
FIRST INDUSTRIAL DEMONSTRATOR WITH SUEZ Site : Valenton Waste Water Treatment Plant, France (Paris Area) Flow rate : 120 Nm3/h raw biogas Feedstock : Sewage sludge Start date : October 2015 THE BIOGNVAL PROJECT 5- Distribution of bioCO2 to industries & bioCNG, a fuel for cars, small trucks & busses
Slide 20: First Farm Scale Bio-LNG Plant in the World: Greenville
FIRST FARM SCALE BIO-LNG PLANT IN THE WORLD: GREENVILLE Site : Omagh, Northern Ireland (UK) Flow rate : 300 Nm3/h raw biogas 3t LNG / 5t CO2 Feedstock : Agricultural waste Start date : January 2018 Supplier of biogas Biogas to and LBG/bio-CO2 offtaker LBG & Bio-CO2 technology Code Reuters : FDEL. PA
Slide 21: First Industrial Plant in Scandinavia with Renevo
FIRST INDUSTRIAL PLANT IN SCANDINAVIA WITH RENEVO Site : Stord, Norway Flow rate : 600 Nm3/h raw biogas 8t LNG / 10t CO2 Feedstock : Salmon Farming Waste Start date : April 2022 Supplier of biogas and owner of the plant LBG offtaker Innovation Agency in Norway Biogas to Provider of Anaerobic Digesti
Slide 22: Replicating FDE's Business Model
REPLICATING FDE’S BUSINESS MODEL Competitive Financing Performing Equipment • Bank project finance (SPVs) • Design • Crowdfunding • Integration • Subsidies • Commissionning and start up • 12 months to build and commission a new site FDE O&M • Exploitation and maintenance • Performance related contra
Slide 23: Significant Pipeline Supporting Future Growth
SIGNIFICANT PIPELINE SUPPORTING FUTURE GROWTH Ongoing In operation Current Pipeline Opportunities Commercial proposal Initial contacts and/or sent Pre-feasibility studies Ongoing negotiations ongoing 2 sites 28 projects 160 projects UK and 98% in 85% in Norway Europe Europe Code Reuters : FDEL. PA –
Slide 24: Becoming the European Leader in Green Gas and Bio CO2
BECOMING THE EUROPEAN LEADER IN GREEN GAS AND BIO CO2 Extensive technical due diligence done in 2018 for application to FDE’s portfolio in Belgium Accretive acquisition €2.5M Acquisition cost – a massive discount due to special situation for FDE Instantaneous significant value creation for FDE that
Slide 25: FDE's Integrated Growth Plan
FDE’S INTEGRATED GROWTH PLAN Today FY 2023 FY 2026 CO2eq emissions avoided > 3 Million tons* 7 Million tons 14 Million tons annually* 22,5 MW installed 49,5 MW installed > 100 MW capacity COGENERATION (15 CHPs) (33 CHPs) (66 CHPs) 1 (ELECTRICITY and HEAT) Hauts-de-France Hauts-de-France Operating in
Slide 26: Calendar Year End 2022 Targets Confirmed
CALENDAR YEAR END 2022 TARGETS CONFIRMED 35 M€ annualized revenues EBITDA margin ≥ 45% Updated objectives: July 21st, 2022 Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 26
Slide 27: The Company Listing
THE COMPANY LISTING KEY CORPORATE INFORMATION SELL SIDE COVERAGE (as of 26 April 2022) ✓ BUY Target Price: €67 April 2022 Listing Euronext Paris Analyst: Henning.Breiter@ha-ib.de Share price €52,8 / share ✓ BUY Shares outstanding 5,2 M Target Price: €56 275 M€ April 2022 Market capitalisation Analys
Slide 28: FDE
FDE Code Reuters : FDEL. PA – Code Bloomberg : FDE.FD Tel : +33 (0)3 87 04 32 11 ir@francaisedelenergie.fr www.francaisedelenergie.fr
Slide 29: Annexes
Annexes FDE Local energy, positive impact
Slide 30: A Recognized Operator Supported by Tier 1 Partners
A RECOGNIZED OPERATOR SUPPORTED BY TIER 1 PARTNERS SCIENTIFICALLY PROVEN INSTITUTIONAL BACK UP CERTIFIED APPROACH OUR COMMERCIAL PARTNERS OUR FINANCIAL PARTNERS Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 30
Slide 31: Why Liquefying Gas?
WHY LIQUEFYING GAS? Volumes divided by 600 600 Nm3 1 m3 0.6 m3 of methane of LNG of Diesel Reduction of storage Energy density close to that volumes of diesel Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 31
Slide 32: Cryo Pur Unique Integrated Approach
CRYO PUR UNIQUE INTEGRATED APPROACH Biogas upgrading and liquefaction (usual project) Energy Energy input input (Extra $) CH4 CH4 CH4 99.4% (gas) CO2 (gas) Biogas Biomethane Biogas scrubbing Upgrading liquefaction (CO2 removal (CO2 separation) To <50 ppm) CH4 CO2 (gas) CH4 (gas) CO2 H2O N2 CO2 O2 Re
Slide 33: CO2 Separation Method
CO2 SEPARATION METHOD Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 33
La Française de l'Énergie (FDE) — Investor Day (April 2022) on 6ix