Therefore, Agripower had a 28.4ME purchase order on 31/12.

In the first six months of the fiscal year, Agripower achieved sales of 4 ME, an increase of 3% compared to the first half of the fiscal year 2020-2021. Individual methanation activities did not contribute much during the period, with 7 units delivered (9 units in the first half of 2020) and 2 units installed. This slowdown in the pace of installation can be explained specifically by migrating to the “assembler” integrator model and expanding to new component suppliers. Meanwhile, from 2021 to the first half of 2022, we recorded a sharp recovery in collective methanation activity from operating and installed units, generating 2ME sales with a 58% increase. Compared to the same period last year.

With installation-based development (77 units as of December 31, 2021), revenue from related services (consumables, maintenance, after-sales) increased by 59% to € 400,000 in the first half of the fiscal year. .. These recurring revenues are driven by the structuring of these offers and a proactive commercial approach, with the goal of future growth.

As of December 31, 2021, after reviewing the signed contract, 26 of the 92 active projects have been installed (including 20 individual units and 6 collective units), with 66 units being researched. / It is in the engineering stage.

Gross profit margin increased by 1 point to 24.2%

In the first half of the 2021-202 fiscal year, Agripower generated gross profit at a direct cost of 963 KE. That’s 24.2% of sales (compared to 23.3% in the first half of fiscal year 2020). The increase in the margin rate is mainly due to the increased amount of signed projects during the period, especially in individual methanation.

Labor costs will increase significantly due to the strengthening of management, technology and commercial teams (from 12 to 16 from January 2021), increasing commercial efforts and supporting planned growth in the realization of the association’s projects. I was able to. Other external operating expenses increased by 3%, showing growth comparable to sales for the period.

With these growth investments, Agripower will produce a slightly negative operating result of -66 KE between 2021 and the first half of 2022, compared to 118 KE for the same period in the previous fiscal year.

For half a year, Agripower has benefited from a 166 K Innovation Tax Credit (CII) associated with the “R & D” investment (payroll cost) inherent in the development of new dry methaneization processes. After considering the CII, the final result will be profitable from 2021 to the first half of 2022, 88KE.

As of December 31, 2021, shareholders’ equity was € 13.8 million and cash available was € 12.1 million. For half a year, Agripower repaid the € 1.5 million National Guarantee Loan (PGE) acquired in 2020, continued to repay the fixed income loan and brought in a financial debt of € 400,000 at the end of the period.

With net cash of € 11.7 million as of December 31, 2021, we have a strong financial base to pursue development strategies and seize market opportunities.

Rapid acceleration of commercial dynamics

In the first half of the 2021-202 fiscal year, Agripower recorded record orders for the first half at € 6.3 million, an increase of 38% compared to the first half of the 2020-2021 fiscal year. We signed 15 new projects (including 14 individual methanation units and one large collective unit) in 6 months, and the total cumulative order volume is 82% of the total order for the previous exercise.

With 14 contracts signed this semester for individual anaerobic digestion projects, Agripower enjoys the first results of the enhancement of offerings and commercial investments made during the 2020-2021 fiscal year. The “dry” anaerobic digestion offer, launched in June 2021, was a huge success with orders for 5 units as of December 31, 2021. Similarly, a brand new collaboration offer developed within the AgripowerPartner subsidiary will be a real asset in the marketing of the individual units with 5 units signed and numerous files under negotiation.

As for collective units, commercial activity is very active and many projects are under consideration. In particular, we have signed contracts with a large unit near Angers and a major group in beef processing. This group has a regulatory obligation to recycle and recover bio-waste by methanation or composting. This highly technical project will provide the use of CO2, which is contained in biogas and is obtained after the biomethane extraction stage, especially in the beef processing process. Therefore, most of the biogas that results from methanation is recycled and recovered locally.

Therefore, as of December 31, 2021, the company’s purchase order was 28.4 ME, an increase of 11% compared to June 30, 2021, and will be achieved by the end of 2023. In other words, it is more than three times the past financial sales. Year.

Repetitive confidence in a profitable growth trajectory

Ideally located in a market driven by strong economic and political incentives in the area of ​​energy conversion, Agripower has a good development and profitability outlook.

In the short term, Agripower is currently in the last few months with operational implementation of its ambitious growth strategy, new offers, the “Ensemblier” integrator model, and growing geographic success not only in France but also in neighboring areas. We are working to amplify the strong commercial momentum of. Countries with inadequate individual methanation.

The company is confident in its ability to increase purchase orders for the 2021 and 2022 fiscal years.

In March 2022, Agripower Partner took a new step in providing cooperation, especially in financing equipment and providing integrated services. The company, a subsidiary of Agripower France, was backed by BPI France to develop funding aimed at facilitating the acquisition of individual methanation units on the farm. BPI France funding through a 3 ME green loan (5 years with a 2 year grace period) constitutes the first step in implementing Agripower Partner’s financial model.

Agripower Partner is currently working on building a complementary banking pool to improve and optimize its financial capacity, with the goal of expanding the solution on a large scale.
Agripower’s management is confident in the positive impact of this medium-term strategy, reiterating its goal of reaching 40 ME sales in 2024 and becoming one of the leading players in France’s energy transition. ..

Next Press Release: 2021/202 Revenue-September 15, 2022.