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Haffner Energy SAS (ALHAF) AI Stock Analysis

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FR:ALHAF

Haffner Energy SAS

(Paris:ALHAF)

Select Model
Rating:51Neutral
Price Target:EUR 0.57â–²(0.53% Upside)
Action:reiterated
Date:09/25/26

The overall score reflects very weak underlying financial performance and cash generation despite a currently solid equity cushion, combined with strong positive price momentum and supportive technical trends, while valuation remains moderate due to negative earnings and no dividend.

Positive Factors
Renewable energy technologyThe company operates in renewable hydrogen and biomass-based fuel production, addressing structural decarbonization needs in industrial and mobility markets. Its thermochemical conversion platform and potential for negative-carbon hydrogen could support differentiated applications as demand for lower-emission energy solutions develops.
Negative Factors
Persistent unprofitabilityThe revenue rebound has not yet translated into viable profitability: gross profit remains negative and operating and net losses are still large. This suggests the current business model has not demonstrated sustainable unit economics, leaving future growth dependent on improving margins rather than revenue expansion alone.

Haffner Energy SAS (ALHAF) vs. iShares MSCI France ETF (EWQ)

-200%0%200%400%600%800%FR:ALHAF+468.69%EWQ+2.16%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
EUR 34.03M
Dividend Yield
―
Average Volume (3M)
6.86M
Price to Earnings (P/E)
-3.4
Beta (1Y)
0.80
Revenue Growth
253.75%
EPS Growth
39.39%
Country
France
Employees
36
Sector
Utilities
Sector Strength
66
Industry
Renewable Utilities

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 technol...

Haffner Energy SAS Financial Statement Overview

Summary

Financial performance is very weak overall: revenue is growing from a low base but gross profit, operating income, and net income remain deeply negative, cash flow is heavily and consistently negative, and only a still-positive equity base and moderate leverage partially offset the high funding and execution risk.

Income Statement

18Very Negative

Balance Sheet

42Neutral

Cash Flow

15Very Negative
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue1.34M1.34M457.00K-88.00K329.00K1.40M
Gross Profit-4.99M-5.82M-936.00K-2.14M-3.17M-298.00K
EBITDA-7.51M-10.42M-10.44M-7.26M-15.88M-4.49M
Net Income-12.67M-12.67M-12.31M-9.94M-16.46M-4.81M
Balance Sheet
Total Assets31.40M31.40M33.71M45.72M56.91M67.74M
Cash, Cash Equivalents and Short-Term Investments1.20M1.20M559.00K11.04M35.48M61.43M
Total Debt2.40M2.40M5.41M4.79M5.15M6.15M
Total Liabilities15.83M15.83M19.41M18.95M20.02M13.49M
Stockholders Equity15.57M15.57M14.30M26.77M36.89M54.25M
Cash Flow
Free Cash Flow-8.17M-8.17M-8.97M-23.80M-22.83M-923.00K
Operating Cash Flow-8.14M-8.14M-8.01M-20.38M-16.86M-58.00K
Investing Cash Flow143.00K143.00K-917.00K-2.41M-6.08M-896.00K
Financing Cash Flow8.15M8.15M-1.55M-1.65M-3.02M59.05M

Haffner Energy SAS Technical Analysis

Technical Analysis SentimentNegative
Last Price0.56

Price Trends

50DMA0.68Negative
100DMA0.54Positive
200DMA0.33Positive

Market Momentum

MACD-0.04Positive
RSI37.72Neutral
STOCH27.09Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALHAF, the sentiment is Negative. The current price of 0.56 is below the 20-day moving average (MA) of 0.65, below the 50-day MA of 0.68, and above the 200-day MA of 0.33, indicating a neutral trend. The MACD of -0.04 indicates Positive momentum. The RSI at 37.72 is Neutral, neither overbought nor oversold. The STOCH value of 27.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALHAF.

Haffner Energy SAS Peers Comparison

Overall Rating

UnderperformOutperform
Sector (66)

Financial Indicators

FR:ALHAF against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *66Neutral$17.65B18.105.60%3.62%6.62%11.55%
FR:ALHAFFR:ALHAF51NeutralEUR 105.92M-3.41――253.75%39.39%
FR:HDFFR:HDF45NeutralEUR 25.64M-8.31-3.82%―-91.03%47.04%
FR:VLTSAFR:VLTSA42NeutralEUR 506.91M-3.81-13.52%―19.27%-192.48%

* Utilities Sector Average

Performance Comparison

0%200%400%600%FR:ALHAFFR:VLTSAFR:HDFFR:ALESEFR:MLBSPDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
FR:ALHAF and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
FR:ALHAFHaffner Energy SAS0.560.45421.30%
FR:VLTSAVoltalia SA3.81-3.63-48.82%
FR:HDFHydrogene de France1.75-2.27-56.57%
FR:ALESEEntech SA9.100.9912.26%
FR:MLBSPBlue Shark Power System SA3.921.0436.11%

Haffner Energy SAS Corporate Events

Haffner Energy Taps AI Pioneer to Turn Industrial Data Into Competitive Edge

Oct 29, 2026

Haffner Energy has launched a new phase of its technology strategy by bringing in AI pioneer Patrick Haffner as a long‑term consultant to embed artificial intelligence across the operation, control, and optimization of its thermolysis‑based systems....

Haffner Energy Wins SARA Dispute, Unlocks €1 Million EBITDA Boost

Oct 21, 2026

Haffner Energy, a French provider of biomass-based renewable fuel technologies, has secured a definitive legal victory in a dispute with client SARA over a cancelled hydrogen production project in Martinique. The Paris Tribunal des activités économiq...

Haffner Energy Deepens Canadian Partnership and Launches Staged €8m Capital Raise

Oct 13, 2026

Haffner Energy has deepened its strategic alliance with Canadian developer Mundi Énergies as the partner restructures plans for Quebec Multi-Energy Complexes around modular, standardised architectures. At the core of this shift is Haffner’s SYNOCA C-...

Haffner Energy Moves Marolles Biomass-to-Hydrogen Site Toward Commercial Operations and Recurring Revenue

Sep 30, 2026

Haffner Energy plans to install an H14 hydrogen refueling station from HRS at its Marolles site in France, enabling the sale of renewable hydrogen produced on site from residual biomass and marking a key step from demonstration to commercialization....

Haffner Energy Wins €3.2m INCAD Order to Anchor Canadian Multi-Energy Hub Strategy

Sep 28, 2026

Haffner Energy has signed a €3.2 million firm order with INCAD, the project company behind the first multi-energy hub in Bécancour, Quebec, to supply six pre-manufactured pieces of equipment and engineering services, with remaining hardware to be bui...

Haffner Energy Targets Cheaper SAF and Renewable Diesel With New SB-HEFA Process

Sep 22, 2026

Haffner Energy has unveiled SB-HEFA, a solid biomass to renewable diesel and Sustainable Aviation Fuel process that bypasses syngas, promising about a 50% cut in levelised production costs by using much cheaper residual biomass feedstocks and a short...

Haffner Energy Expands CORE100 Programme, Boosts Revenue Outlook

Sep 17, 2026

Haffner Energy SAS is expanding its CORE100 C-iC module reservation programme from single-module hydrogen and syngas projects to integrated, multi-module solutions that cover the entire value chain from biomass to final energy products. The company’s...

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 million in...

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 architectur...

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 to a close without...

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 share cap...

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 financing arranged...

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.

Date of analysis: Sep 25, 2026