Quarterly Financial Information at 30 September 2018
Sales up 5.3%1
2018 targets confirmed

Key figures

  • 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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