Quarterly Financial Information - 3rd quarter 2018
Quarterly Financial Information at 30 September 2018
Sales up 5.3%1
2018 targets confirmed
- Group sales: €49.6bn, +5.3 % org.1
- Electricity Output
- Nuclear France: 290.0TWh, +2.4%
- Nuclear United Kingdom: 45.9TWh, -5.7%
- Group Renewables: 54.8TWh, +28.9%
of which Hydropower France2: 38.0TWh, +32.9%
Highlights and deployment of CAP 2030
- New developments in renewable energies
- Commissioning of five solar photovoltaic facilities in Israel (100MWp)
- Signing of two Power Purchase Agreements for a 128 MWac solar projet with storage in California
- EDF Renouvelables awarded:
- one wind energy project in India totalling 300 MW
- two wind energy projects in Brazil totalling 276MW
- two solar energy projects in France totalling 20MWp
- Signing of binding agreements for the construction of the Nachtigal hydroelectric dam in Cameroon : 420 MW project
- Innovation at the service of customers
- “Vert Electrique”:100,000 subscriptions one year after launch
- Digiwatt: launch of the first fully digital electricity supply contract in France
- “Plan lumière 4.0”: the consortium led by Citelum and EDF Luminus is selected as preferred tenderer for the smart lighting of major roads in Wallonia, Belgium
- Electric Mobility Plan: objective to become the sector’s leading energy company in Europe by 2022
- Strengthened financial structure
- Disposal plan realised for €9.6bn: completion of the disposal of Dunkerque LNG
- Refinancing of €1.25bn hybrid bond notes
- Senior bond offering of $3.75bn in three tranches of 10- to 30-year maturity and €1bn with a 12-year maturity
2018 targets confirmed
- Operating expenses3: -€0.8bn compared to 2015
- EBITDA4: €14.8 - 15.3bn
- Cash flow4,5excluding Linky6, new developments and 2015-20 asset disposal plan: ~0
- Asset disposals7 since 2015: ~€10bn
- Total net investments excluding acquisitions and 2015-20 disposal plan: ≤ €15bn
of which net investments excluding Linky6, new developments and 2015-20 disposal plan: ~€11bn
- Net financial debt/EBITDA4 : ≤ 2.5x
- Target payout ratio of net income excluding non-recurring items8 : 50%
NB: see press release in the PDF file opposite.
1 Organic change at comparable scope and exchange rates.
2 Hydropower, excluding island activities.
3 Sum of personnel expenses and other external expenses. At comparable consolidation scope and exchange rates. At constant pension discount rates. Excluding change in operating expenses of the service activities.
4 At comparable exchange rates and “normal” weather conditions, on the basis of a nuclear output in France assumption between 393-396TWh. At constant pension discount rates
5 Excluding eventual interim dividend for the 2018 fiscal year.
6 Linky is a project led by Enedis, an independent EDF subsidiary as defined in the French Energy Code.
7 Disposals signed or realised.
8 Adjusted for the remuneration of hybrid bonds accounted for in equity.
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