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Haffner Energy SAS
(ALHAF)
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Rating:46Neutral
Price Target:
€0.63
▲(33.83% Upside)
Action:Reiterated
Date:08/28/26
The score is held down primarily by weak financial performance—continued large losses and persistent negative operating/free cash flow despite improved revenue—creating elevated financing risk. Technicals are somewhat supportive over the medium/long term (price above 50/100/200-day averages and positive MACD) but are not strong enough near term to offset fundamentals. Valuation remains unattractive given a negative P/E and no dividend yield.
Positive Factors
Renewable hydrogen and bioenergy platform
The company addresses structural decarbonization demand by converting biomass and organic residues into renewable hydrogen and bioenergy. Its technology, engineering, deployment, and service activities provide several ways to participate in growing industrial and mobility demand for lower-carbon energy.
Negative Factors
Deep and persistent losses
Negative gross profit alongside large operating and net losses shows that current activity is not yet economically self-sustaining. Continued losses could consume capital, limit reinvestment, and make it difficult to demonstrate durable margins even after the recent revenue rebound.
Read all positive and negative factors
Positive Factors
Negative Factors
Renewable hydrogen and bioenergy platform
The company addresses structural decarbonization demand by converting biomass and organic residues into renewable hydrogen and bioenergy. Its technology, engineering, deployment, and service activities provide several ways to participate in growing industrial and mobility demand for lower-carbon energy.
Read all positive factors
Haffner Energy SAS (ALHAF) vs. iShares MSCI France ETF (EWQ)
Market Cap
€117.61M
Dividend YieldN/A
Average Volume (3M)12.35M
Price to Earnings (P/E)―
Beta (1Y)1.19
Revenue Growth253.75%
EPS Growth39.39%
CountryFR
Employees36
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.17
Shares Outstanding183,907,800
10 Day Avg. Volume8,553,045
30 Day Avg. Volume12,345,468
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.47
Price to Sales (P/S)5.42
P/FCF Ratio-0.89
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.02
Revenue Forecast (FY)€14.75M
Haffner Energy SAS Business Overview & Revenue Model
Company Description
Haffner Energy S.A., headquartered in Vitry Le Francois, France, and established in 1993, is dedicated to energy engineering and biomass-to-energy initiatives. The company notably designs and implements HYNOCA, its proprietary carbon-negative tech...
How the Company Makes Money
Haffner Energy makes money primarily by commercializing its biomass-to-renewable-hydrogen and bioenergy offerings through a mix of technology sales/licensing, engineering/project execution, and ongoing services tied to deployed installations. Key ...
Haffner Energy SAS Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
14
Very Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.34M | 457.00K | -88.00K | 329.00K | 1.40M |
| Gross Profit | -5.82M | -936.00K | -2.14M | -3.17M | -298.00K |
| EBITDA | -10.42M | -10.44M | -7.26M | -15.88M | -4.49M |
| Net Income | -12.67M | -12.31M | -9.94M | -16.46M | -4.81M |
Balance Sheet | |||||
| Total Assets | 31.40M | 33.71M | 45.72M | 56.91M | 67.74M |
| Cash, Cash Equivalents and Short-Term Investments | 1.20M | 559.00K | 11.04M | 35.48M | 61.43M |
| Total Debt | 2.40M | 5.41M | 4.79M | 5.15M | 6.15M |
| Total Liabilities | 15.83M | 19.41M | 18.95M | 20.02M | 13.49M |
| Stockholders Equity | 15.57M | 14.30M | 26.77M | 36.89M | 54.25M |
Cash Flow | |||||
| Free Cash Flow | -8.17M | -8.97M | -23.80M | -22.83M | -923.00K |
| Operating Cash Flow | -8.14M | -8.01M | -20.38M | -16.86M | -58.00K |
| Investing Cash Flow | 143.00K | -917.00K | -2.41M | -6.08M | -896.00K |
| Financing Cash Flow | 8.15M | -1.55M | -1.65M | -3.02M | 59.05M |
Haffner Energy SAS Technical Analysis
Positive
0.47
Price Trends
0.45
Positive
0.32
Positive
0.19
Positive
Market Momentum
0.05
Positive
58.22
Neutral
80.26
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALHAF, the sentiment is Positive. The current price of 0.47 is below the 20-day moving average (MA) of 0.60, above the 50-day MA of 0.45, and above the 200-day MA of 0.19, indicating a bullish trend. The MACD of 0.05 indicates Positive momentum. The RSI at 58.22 is Neutral, neither overbought nor oversold. The STOCH value of 80.26 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:ALHAF.
Haffner Energy SAS Peers Comparison
UnderperformOutperform
Sector (66)
FR:ALHAF
Haffner Energy SAS
0.65
0.40
162.60%
FR:VLTSA
Voltalia
5.00
-1.21
-19.55%
FR:HDF
Hydrogene de France
2.37
-2.26
-48.81%
FR:ALESE
Entech SA
10.00
1.71
20.55%
FR:MLBSP
Blue Shark Power System SA
3.70
0.14
3.93%
Haffner Energy SAS Corporate Events
Haffner Energy Secures OroCarbo Order for 12 Biomass-to-Hydrogen Units in U.S. West
Sep 1, 2026
Haffner Energy has secured a reservation from California-based project developer OroCarbo for 12 SYNOCA C-iC biomass-to-syngas units under its CORE100 industrial program, representing 12% of the planned 100 standardized units and up to €30 m...
Haffner Energy Targets Data Centers With High-Availability Biomass Power Solution
Aug 28, 2026
Haffner Energy has launched a modular, biomass-based energy offering targeted at data centers, designed to deliver local, resilient, decarbonized power and cooling with guaranteed availability above Tier IV standards. Built on its CORE100 architec...
Haffner Energy Completes First €2 Million Sequence, Bolsters Cash by €4.4 Million
Aug 27, 2026
Haffner Energy has completed a second share issue of €1.35 million, bringing to €2 million the total amount raised under the first Sequence of its investment program with Mundi Énergies and partners. This brings the first Sequence...
Haffner Energy completes ABO warrant exercise, secures €2.4m and ends dilution from 2025 financing
Aug 25, 2026
Haffner Energy has received notice from Hanover Square Investments 1, an investment vehicle managed by Alpha Blue Ocean, of the exercise of all remaining 5,689,655 share warrants it held, representing 3.19% of the company’s post-transaction ...
Haffner Energy Boosts Equity With Warrant Exercise, Minor Dilution
Aug 20, 2026
Haffner Energy has announced that 2,586,207 share warrants have been exercised, resulting in the issuance of an equal number of new shares at €0.29 per share and a cash inflow of €750,000. The transaction, linked to the OCEANE-BSA fina...
Haffner Energy’s H6 Technology Clears Key Syngas Qualification Milestone
Aug 6, 2026
Haffner Energy has secured a key qualification milestone for its new H6 generation biomass thermolysis technology, with an independent certification body validating stable syngas production and mechanical behavior in line with design models. The s...
Haffner Energy Details Active Trading Under Mid-Year Liquidity Contract
Jul 30, 2026
Haffner Energy reported the mid-year status of its liquidity contract with Portzamparc – Groupe BNP Paribas, detailing the resources held in its liquidity account as of 30 June 2026. The account contained 298,138 Haffner Energy shares and &#...
Haffner Energy Confirms 2025‑2026 Results and Sets September Shareholder Meeting
Jul 28, 2026
Haffner Energy has finalized and approved its parent company and consolidated financial statements for the year ended 31 March 2026, and its Board has now signed off on the 2025‑2026 Annual Report. The report, whose estimated figures were re...
Haffner Energy Shifts to Asset‑Backed Model in Canadian Renewables Partnership
Jul 27, 2026
Haffner Energy has deepened its strategic partnership with Canadian developer Mundi Énergies by evolving from a pure technology supplier into a long‑term industrial and equity partner for a planned network of multi‑energy hubs in ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.