La Française de l'Énergie: Significant Value Increase for the Abandoned Mine Methane (AMM) Gas Reserves Certified in Hauts-de-France, Reinforcing the Development Potential of the Group
Regulatory News:
La Française de l'Énergie (Euronext: LFDE - ISIN: FR0013030152), a carbon negative energy producer, announces a new certification of its 2P abandoned mine gas (AMM) reserves on the two concessions held in the Hauts-de-France’s region.
While 360 million m3 have already been captured and monetize through the production of gas and green electricity over the last 4 years, this new certification carried out by DMT (Tüv Nord group) now shows AMM reserves of 3.6 billion m3 (21.6 TWh), thus confirming the significant potential for the capture and recovery of mine gas, well above the current objective set at 49.5 MW of installed capacity in the Franco-Belgian basin by the end of 2022.
La Francaise de l'Energie anticipates that more than 3 million tonnes of CO2eq emissions will be avoided annually through the capture of AMM and the installation of new cogeneration units in Hauts-de-France and Belgium. This development will reinforce the company’s positioning as the leading contributor to the region’s fight against Greenhouse Gas (GHG) emissions. This exceptional positive impact on the Hauts-de-France region makes LFDE one of the main players in the territory's ecological transition.
The rise in energy prices significantly increases the value of the Lorraine gas
Moreover, in the context of structural increases in energy prices, the net asset value (NAV) of the Lorraine gas is now estimated at € 318 million1, a sharp increase compared to the 2018 certification carried out by MHA (Sproule). The certified reserves which amount to 6.7 billion m3 of gas (1P, 2P, 3P) and its recovery in short circuits aim to replace the imported energy with local low-carbon energy in the Grand Est region.
La Française de l'Energie confirms its objective of achieving annualized revenue of € 35 million and an EBITDA margin of over 45% by the end of 2022.
Next announcement:
S1 2021-2022 Sales – January 25th 2022
| Reuters code: LFDE.PA
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Bloomberg code: LFDE.FP
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About La Française de l’Énergie
La Française de l'Energie is a carbon negative energy producer, specializing setting up decentralized energy production sites. La Française de l'Energie supplies gas, green electricity and heat to regional players, thus replacing imported energy with local, cleaner energy. La Française de l'Énergie has strong development potential and aims to become a benchmark independent player in the energy sector in Europe. The company benefits from the innovative company label awarded by Bpifrance.
More information available on www.francaisedelenergie.fr.
Disclaimer
This press release contains certain forward - looking statements and estimates concerning LFDE’s financial condition, operating results, strategy, projects and future performance and the markets in which it operates. Such forward-looking statements and estimates may be identified by words such as “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “intend,” “is designed to,” “may,” “might,” “plan,” “potential,” “predict,” “objective,” “should,” or the negative of these and similar expressions. They incorporate all topics that are not historical facts. Forward looking statements, forecasts and estimates are based on management’s current assumptions and assessment of risks, uncertainties and other factors, known and unknown, which were deemed to be reasonable at the time they were made but which may turn out to be incorrect. Events and outcomes are difficult to predict and depend on factors beyond the company’s control. Consequently, the actual results, financial condition, performances and/or achievements of LFDE or of the industry may turn out to differ materially from the future results, performances or achievements expressed or implied by these statements, forecasts and estimates. Owing to these uncertainties, no representation is made as to the correctness or fairness of these forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates speak only as of the date on which they are made, and LFDE undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise, except as required by law.
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1 The net present value (NPV) corresponds to cash flows discounted at 10% over the duration of the future concession. It includes revenues with an average gas sale price of € 28.08/MWh (source EEX - PEG Nord France 2030 – as of 12/01/22), investments, operating costs and annual fixed and variable expenses.
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