FDE today reported its full FY'24 results, following the initial reporting of FY’24 revenues in July. Net income was €9.7mm, in line with our estimate, down 19% y/y. Higher electricity sales volumes and contributions from Greenstat wereoffset by much weaker gas and electricity prices, which normalised after the spike in prices after the Russian invasion of Ukraine. EBITDA fell 26% y/y to €19.7mm, yet FDE maintained a robust sales margin of 63% (down from 68% last year). FDE was also cushioned b ....
