Strong results and commitments delivered
Confirmation of the solidity of EDF's integrated and diversified business model
- EBITDA: €16.1 billion, +7.7% of which 4.6% organic growth
- Net income excluding non-recurring items: €4.2 billion, +16.9%
- Net income - Group share: €3.3 billion, + 5.3%
- Allocation in 2013 of the CSPE receivable to dedicated assets, bringing coverage of eligible provisions to 100% starting as early as 20131
- Net financial debt/EBITDA: 2.4x2
- Proposed dividend of €1.25/share for the 20123 financial year, i.e. a payout ratio of 55% of net income excluding non-recurring items
2013: a decisive year
- Launch of “Spark”: plan targeting savings of €1 billion as soon as 2013
- EBITDA: between 0% and 3% in organic growth excluding Edison
- Edison: expectation for recurring EBITDA in line with 2012, with fluctuation in results possible in 2013-2014 linked to calendar effect from the renegotiation of gas supply contracts
- Net investments stable at €12 billion
- Net financial debt/EBITDA: between 2x and 2.5x
- Payout ratio: between 55% and 65% of net income excluding non-recurring items
EDF's Board of Directors met on 13 February 2013 under the chairmanship of Henri Proglio and approved the financial statements and the consolidated accounts for the financial year ending on 31 December 2012.
Henri Proglio, Chairman and CEO of EDF said: "EDF's results were up in 2012, underscoring a third consecutive year of progress during which the Group delivered on its commitments. The Group will invest €12 billion across all its businesses as part of its resolute commitment to rising to the challenges that lie ahead in 2013. These investments will enable the Group to respond to industrial issues, while continuing to improve the company's financial structure, which goes hand in hand in ensuring the long-term health of the EDF industrial model, a model that has once again proven its relevance."
More information in the press release
1 30 June 2016 deadline set out by the NOME law from December 2010
2 Pro forma data after allocation of the CSPE receivable to dedicated assets on 13/02/2013 and the subtraction of €2.4 billion from the dedicated assets portfolio bringing the coverage rate to 100% of EDF's long term nuclear obligations starting as early as 2013
3 0,68/share remaining to be paid after an interim dividend of €0.57/share was paid on 17 December 2012
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.