2016-17: LFDE delivered on its strategic and operating goals
EARNINGS/SALES RELEASES
FACT

LFDE posted revenues of €3.7m in the year to June 2017.


ANALYSIS

During the year, the company has delivered on its business plan, starting the first production test in Lachambre (Eastern France) and starting the green gas-to-power business with the installation of 9MW capacity in Northern France.

LFDE also confirmed its revenue target of c. €35m in 2020 (FY2019-20).

We expect the group to continue to roll out its plan to supply an economically and ecologically competitive clean energy for regional consumption in both Lorraine and Northern France, while growing its gas reserve base through further appraisal wells in Lorraine and expanding its operations in neighbouring countries.


IMPACT

The release confirms our estimates.