(AOF) – A pioneer in high-power hydrogen power plants, HDF Energy recorded a net loss of 3.4 million euros in 2022, compared to -3.5 million euros in 2021. As of December 31, 2022 , the group has shareholders’ equity of €107.4 million (compared to €109.1 million as of December 31, 2021). Cash and cash equivalents amounted to 87.4 million euros, compared to 95.1 million euros at December 31, 2021.
Consolidated revenue for 2022 amounted to €3.5 million compared to €0.9 million in 2021. €3 million corresponds to revenue recognized under the development contract for the Renewstable Barbados project (RSB) in Barbados since February 2022, the date from which the Rubis group became the majority shareholder of RSB.
In addition, the invoicing issued by HDF in 2022 for Project Management Assistance (AMO) services on projects over which the group retains control, and whose impact is neutralized in the consolidated accounts, represents 3 million euros. This value creation is recognized indirectly through the income from the disposal of holdings when control is lost.
Thus, in 2022, the group records a sale result linked to the loss of control in RSB for 1 million euros.
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Greater disparities between utilities
The World Energy Markets Observatory highlights a wide disparity in retail energy prices in Europe. Suffering from both the effect of the rise in wholesale prices and high volatility in selling prices to end consumers, the profitability of players is under pressure. While the sixteen largest European energy suppliers benefited last year from a significant increase in their turnover (+47% compared to 2020), their gross operating margin (Ebitda margin) , deteriorated from 20.2% to 19.6%. Those who had to resort to purchasing electricity on the market had to pay these additional volumes much more expensive than the level of sale prices already set and therefore saw their margins deteriorate.
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