French state announces its intention to hold 100% of EDF’s share capital
Increased market price volatility exacerbated by the war in Ukraine
Strong decline in EBITDA due to lower output in France
and exceptional regulatory measures
Significant level of investment towards the energy transition
Inclusion of nuclear power in the European Taxonomy 


              2022 half-year financial results
Sales                                                                            €66.3bn        +66.4% org.([1])
EBITDA                                                                          €2.7bn         -75.0% org.(1)
Net income excluding non-recurring items([2])          -€1.3bn          n.a    
Net income – Group share                                        - €5.3bn         n.a.
Net financial debt                                                        €42.8bn    vs. €43.0bn at end-2021

NB: see the whole press release in the PDF file opposite

Jean-Bernard Lévy, Chairman and Chief Executive Officer of EDF stated:

“The results for the first half of the year reflect the difficulties encountered in nuclear generation in France and, to a lesser extent, in hydropower generation, as well as the effect of the tariff shield introduced in France in 2022.
The operating results of the Group’s other businesses, however, are growing strongly for the most part, particularly as a result of higher and more volatile wholesale prices in Europe. Investments are continuing at a steady pace in order to further strengthen the group’s position as a champion of decarbonisation, on the basis of energy efficiency, nuclear generation and renewable generation. Commercial performance was very good, reflecting the relevance of the offers and the quality of EDF’s relationship with all categories of customers. Despite the strong pressure, all EDF group’s teams are demonstrating a remarkable resilience and a constant commitment to the energy transition.”


([1])  Organic change at comparable scope, standard and exchange rates vs. 2021.
([2])  Net income excluding non-recurring items is not defined by IFRS and is not directly visible in the consolidated income statement. It corresponds to the net income excluding non-recurring items and the net change in fair value on energy and commodity derivatives, excluding trading activities and excluding net changes in fair value of debt and equity securities, net of tax.