La Française de l'Energie : 2023-24 sales a shade below the consensus thanks to Greenstat in Q4
>Q4 sales below the consensus, impacted by the decline in the electricity and gas businesses, partly offset by the significant contribution from Greenstat - La Française de l'Energie yesterday published its Q4 2023-24 sales (to the end of June), which came in at € 7.4m, below the consensus expectation of € 8.4m, virtually stable on the Q4 2022-23 level (€ 7.5m), which was impacted by the fall in gas sales due to works at GRTgaz, but down sharply compared with Q3 2023...La Francaise de l'Energie is engaged in the operation of the French energy sector, with gas assets in northern and eastern France, specifically coal bed methane. Co. aims to substitute a portion of the gas imported into France with coal bed methane, which it produces, due to its low carbon footprint and production cost. Co.'s operations are mainly located in two areas: Lorraine, located in eastern France close to the Franco-German border, and in Nord-Pas-de-Calais, in the Hauts-de-France region located at the Franco-Belgian border. Co. operates in two operating segments: Lorraine which includes the exploration and certification of gas reserves and Avion which includes gas production.
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