La Française de l'Energie : Q3 sales below our estimate, 2024 estimates reduced
>Q3 2024 sales lower than expected - Yesterday evening La Française de l’Energie reported revenue for Q3 2023-2024 (January to March) which came to € 9.2m, below our estimate of € 10.5m. Revenue fell 11.5% vs Q3 2022-2023 and was in line with Q2 2024 (€ 9.5m). By business, electricity revenue came to € 5.8m, down 13% vs Q3 2023 (€ 6.7m) hurt by lower prices that were partly offset by volume growth. Gas revenue reached € 2.7m vs € 3.2m in Q3 2023 and € 3m in Q2 2024, a...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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