Quarterly financial information - 1st quarter 2015
Sales in the first quarter of 2014 of: €21.2 billion, down 4.2% in organic terms1 due to adverse weather effects
- On sales of electricity in France in 2014, particularly when compared to the first quarter of 2013
- On sales of gas and heat in the rest of Europe
- On the volume of European trading activities
- Hydropower generation up 2.6% from a high comparable in the first quarter of 2013
- Nuclear generation output at 114.9 TWh versus 115.9 TWh in the first quarter of 2013
Conclusion of agreements in line with the Group's strategic objectives
- Dalkia: Agreement signed on 25 March 20142
- CENG: Agreement concluded on 1 April 2014, including a special dividend of $400 million paid to the Group
2014 objectives and 2014-2018 vision confirmed
The Group's sales in the first quarter of 2014 were €21.2 billion, down 3.9% from the first quarter of 2013. At constant scope and exchange rates, sales were down 4.2% due to mild weather conditions, which impacted sales of electricity in France, gas sales abroad and trading activities in Europe. UK sales were nonetheless sustained by B2B sales due to higher realised wholesale market prices. In Italy, sales growth was driven by an increase in electricity volumes sold.
The first quarter of 2014 also saw the strengthening of the Group's financial structure with the second phase of its multi-annual hybrid funding programme (nearly €4 billion equivalent) as well as the issue of two 100-year bonds in dollars and sterling aimed at significantly lengthening average debt maturity.
1 Constant scope and forex
2 Subject to the approval of the relevant competition authorities
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