La Française de l'Energie S.A. (FDE) H2 2025 earnings summary

Executive summary

• Achieved resilient FY2025 results with €30.4 million revenue and a 57% EBITDA margin, supported by strategic acquisitions (Alltec, Greenstat) and expansion in Norway, despite electricity price volatility and gas injection constraints.

• Strengthened European clean energy platform, operating across five energy types and countries, with a focus on local, low-carbon solutions and technical expertise in RNG, hydrogen, and solar.

• Entered strategic partnership with Cemex for CO2 capture pilot projects, with potential for pan-European rollout.

• Accelerated capital expenditure and investments to support 2030 growth ambitions and project pipeline.

Financial highlights

• FY2025 revenues reached €30.4 million, EBITDA was €17.3 million (57% margin, 60–62% excluding IFRS adjustments), and net income group share was €3.7 million (12% net margin).

• Cash position at year-end was €62.6 million, supported by strong operating cash flow and new corporate loans totaling €22 million.

• CapEx tripled to €24 million in 2025, reflecting accelerated investment in growth projects.

• Q1 2026 revenues grew 32% year-over-year to €6.6 million.

Outlook and guidance

• 2030 targets: annual revenues over €175 million, EBITDA exceeding €85 million, and CO2-equivalent emission reductions above 20 million tons per annum.

• Strong growth expected from 2027 as new biogas and hydrogen projects come online; 2026 will be a year of heavy investment and higher indebtedness.

• Installed capacity projected to rise from 85 MW to over 300 MW by 2030, with energy output quadrupling.

• Feed-in tariff of ~€80/MWh for 10 years underpins new CHP projects.