EDF: 2024 results down with electricity prices
(CercleFinance.com) - On Friday, EDF published lower results for 2024, as strong growth in nuclear and hydro generation was more than offset by lower market prices.
The French state-owned electric utility said it expected Ebitda to fall again this year in the context of lower prices.
Nuclear power production in France, including the Flamanville 3 EPR, is expected to be between 350 and 370 TWh in 2025, 2026 and 2027, compared with 520 TWh in 2024.
Ebitda contracted to E36.5bn last year, compared with E39.9bn in 2023, on sales down 15.7% on an organic basis, to E118.7bn.
Net income before non-recurring items amounted to E15.2bn, compared with E18.5bn in 2023.
For 2027, EDF is targeting a Net Financial Debt/Ebitda ratio of less than or equal to 2.5x, compared with 1.5x in 2024, while its Adjusted Economic Debt/Adjusted EBITDA ratio is expected to be below 4x, compared with 2.7x last year.
For the record, EDF's Ambitions 2035 strategic plan is built around four pillars: (1) helping customers reduce their carbon footprint, (2) generating more low-carbon electricity, (3) developing networks against the backdrop of the energy transition, and (4) implementing flexibility solutions to meet the needs of the power system.
Copyright (c) 2025 CercleFinance.com. All rights reserved.
The French state-owned electric utility said it expected Ebitda to fall again this year in the context of lower prices.
Nuclear power production in France, including the Flamanville 3 EPR, is expected to be between 350 and 370 TWh in 2025, 2026 and 2027, compared with 520 TWh in 2024.
Ebitda contracted to E36.5bn last year, compared with E39.9bn in 2023, on sales down 15.7% on an organic basis, to E118.7bn.
Net income before non-recurring items amounted to E15.2bn, compared with E18.5bn in 2023.
For 2027, EDF is targeting a Net Financial Debt/Ebitda ratio of less than or equal to 2.5x, compared with 1.5x in 2024, while its Adjusted Economic Debt/Adjusted EBITDA ratio is expected to be below 4x, compared with 2.7x last year.
For the record, EDF's Ambitions 2035 strategic plan is built around four pillars: (1) helping customers reduce their carbon footprint, (2) generating more low-carbon electricity, (3) developing networks against the backdrop of the energy transition, and (4) implementing flexibility solutions to meet the needs of the power system.
Copyright (c) 2025 CercleFinance.com. All rights reserved.