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EDF Group 2012 half-year results

H1 2012 results: 

Robust growth in net income excluding non-recurring items of 10%. 
Takeover of Edison, now more than 80%-owned

  • EBITDA: €9.1bn, +3.3%1 
  • 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.”

EDF Group 2012 half-year results