Robust growth in net income excluding non-recurring items of 10%
Takeover of Edison, now more than 80%-owned
- EBITDA: €9.1bn, +3.3%*
- Net income excluding non-recurring items: €2.9bn, +10.3%
- EDF Net income: €2.8bn, +4.6%
- Net financial debt: €39.7bn, including the cumulative CSPE deficit amounting to €4.5bn
- Financial targets over 2011-2015 reiterated
EDF SA's Board of Directors, meeting on 30 July 2012 under the chairmanship of Henri Proglio, approved the Group's condensed consolidated financial statements for the half-year ended 30 June 2012.
Henri Proglio, Chairman and CEO of EDF, said: "The first half of 2012 was marked by a significant increase in net income excluding non-recurring items of +10%, which reflected good operating results. Higher hydropower and renewable energy output partially offset lower nuclear output due to planned outages and more numerous outage extensions over the period in France. These solid results are attributable to the dedication and commitment of EDF teams. They are also due to the 22.5% increase in net capex, which amounted to €6bn; two-thirds of these investments were made in France where network quality investments, for instance, rose by 30%. Through its unique integrated-operator business model and its diversified energy mix, the Group has considerable strengths with which to contribute to building Europe's energy future."
More details in the Press Release
* Growth at constant scope and exchange rates
The EDF Group, one of the leaders in the European energy market, is an integrated energy company active in all areas of the business: generation, transmission, distribution, energy supply and trading. The Group is the leading electricity producer in Europe. In France, it has mainly nuclear and hydraulic production facilities where 96.5% of the electricity output is CO2-free. EDF's transmission and distribution subsidiaries in France operate 1,285,000 km of low and medium voltage overhead and underground electricity lines and around 100,000 km of high and very high voltage networks. The Group is involved in supplying energy and services to approximately 27.9 million customers in France. The Group generated consolidated sales of € 65.3 billion in 2011, of which 43.1% was achieved outside of France. EDF is listed on the Paris Stock Exchange and is a member of the CAC 40 index.