First quarter 2012 sales: €20.8 billion, +6.5% organic growth
2012 targets and 2011-2015* financial outlook confirmed by the Group
EDF's sales in the first quarter of 2012 totalled €20.8 billion, showing 6.5% organic growth compared to the first quarter of 2011. France contributed to the growth in sales, with 5.1% organic growth, as did the international segment, with 8.7% organic growth.
EDF confirms its financial guidance for profitable growth over the period 2011-2015*, i.e.:
- EBITDA**: 4 to 6% average annual growth;
- Net income excluding non-recurring items: 5 to 10% average annual growth;
- Financial net debt / EBITDA ratio: less than 2.5x
- Payout ratio: between 55 and 65%
2012 objectives are in line with this financial guidance, with a dividend at least stable compared to the one paid for 2011. As announced in the FY11 results publication, the 2012 French output target is 420-425 TWh. In the UK, EDF Energy aims to improve upon its 55.8 TWh achieved in 2011.
More details in the Press Release
* Excluding the potential impact of Edison PPA
** Growth at constant scope and exchange rate
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.