Financial Results

2025 Annual Results

Key highlights:

  • Strong operational performance.
  • Positive cash flow leading to a reduction in net financial debt.

Key Figures

As a leading player in the energy transition, EDF confirms the strength of its operational and financial performance. The Group continues to execute its strategy and is making significant investments in low-carbon energy.

  • 373 TWh

    NUCLEAR OUTPUT FRANCE

  • €29.3bn

    EBITDA

  • €8.4bn

    NET INCOME

  • €9.6bn

    CASH-FLOW

  • €51.5bn

    NET FINANCIAL DEBT

  • 26.5gCO₂/kWh

    CARBON INTENSITY

Bernard Fontana

Safety, security and health are the Group’s priorities, to provide our customers with competitive, sovereign, low-carbon electricity.

2025 was a year of sound operational and financial results. These results reflect all the action taken to raise operational performance sustainably, with nuclear output up, record levels of pumped-storage hydropower, and faster deployment of our new commercial policy. EDF offers long-term visibility over electricity prices for its customers, especially electricity-intensive entities. Flamanville 3 has reached 100% power, and we have presented the forecast cost estimate for the EPR2 programme.

We take pride in EDF’s 80 years of existence and are fully committed for the decades to come.

Bernard Fontana , Chairman and Chief Executive Officer of EDF

Outlook

  • Strong 2026 EBITDA, expected to retreat slightly in a context of market price downturns.
  • Nuclear power output in France, estimated at 350-370TWh in 2026 and 2027, and 345-375TWh in 2028.

2027 targets - confirmed(1):

  • NFD / EBITDA: ≤ 2.5x
  • Adjusted economic debt / adjusted EBITDA(2): ≤ 4x

(1) Based on scope and exchange rates as at 1 January 2025 and assuming French nuclear output including Flamanville 3, of 350-370TWh a year in 2025, 2026 and 2027
(2) Applying constant S&P ratio methodology.

Previous financial results

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