EDF Quarterly Financial Information Q3 2014

Quarterly Financial Information at 30 September 2014
  • 9M 2014 sales: €52.3 billion, down 1.3% in organic terms *
    • First 9 months of the year marked by adverse weather conditions in Europe
    • Positive impact of the 2012 tariff revision at €921 million
  • Strong performance of the French nuclear fleet, upgraded outlook for full year output
    • 9M 2014 nuclear output up 2.5% year on year on the back of enhanced management of the duration of planned outages
    • 2014 nuclear output expected at the upper-end of the 410-415 TWh range
  • Key priorities for the Group:
    • Hinkley Point C: on 8 October 2014, the European Commission approved the commercial and funding guarantee agreements
    • Regulated tariffs in France: cost stacking methodology applied as at 1 November 2014
    • ARENH formula: expected publication of the decree, allowing for a revaluation in July 2015
  • 2014 targets confirmed
  • Ongoing update of the medium-term plan allowing for a positive cash flow after dividends** in 2018

Henri Proglio, Chairman and CEO of EDF, said: “The third quarter of 2014 underscored the effectiveness of the measures undertaken to manage planned outages of our nuclear plants. Thanks to the dedication of our teams, nuclear output was up 2.5% in France over the first nine months, partially offsetting the impact of adverse weather conditions on sales. Despite such challenging economic and weather conditions, EDF boasted a solid Q3 performance and confirms its targets for 2014.”

* Constant scope and forex, including the impact of the tariff catch-up
**Excluding Linky

EDF Quarterly Financial Information - Press release