Quarterly financial information - First quarter 2013 sales
- First quarter 2013 sales: Relevance of EDF’s integrated and diversified business model
- Sales up 12.1%, of which 4.7% in organic terms
- 2013 targets reiterated
Change in EDF Group sales
EDF Group sales in the first quarter of 2013 grew 12.1% compared with the first quarter 2012, reaching €23.4 billion mainly due to the impact of the full consolidation of Edison. The increase at constant scope and exchange rates was 4.7% and reflected, in particular, rising volumes as a result of a weather effect in France and, to a lesser extent, the United Kingdom and Italy as well as an improvement in the operating performance in the United Kingdom and the United States versus 2012. The first quarter of 2013 was also marked by an improvement in the Group’s financial structure due to the allocation of the CSPE receivable to dedicated assets after a comprehensive agreement with the French government was reached. In addition, the Group raised over €6 billion in hybrid bonds, which represents the biggest hybrid issue ever by a non-financial company in three currencies.
Henri Proglio, Chairman and CEO of EDF said: “ Our sales growth in the first quarter once again proved the relevance of the Group’s integrated and diversified business model. Highlights included strong performances from the United Kingdom and EDF Energies Nouvelles. Its business model will enable EDF, the leading industrial company in France, to again invest nearly €12 billion in its businesses and hire over 6,000 people, including 2,000 new positions created. ”