• Group EBITDA : €17.3bn, +6.5% organic growth1, +3.2% excluding Edison and the tariff catch-up2
  • A record-setting performance by low-carbon energies:
    • french nuclear output: 415.9 TWh, the second best performance of the last six years
    • french CO2 emissions3: 17 g/kWh, an all-time low
    • renewable energy capacity under construction4: 2.2 GW, an all-time high
  • Net income excluding non-recurring items: €4,852m, +17.9%
  • Net income - Group share: €3,701m, +5.2%
  • Net financial debt/EBITDA: 2.0x vs. 2.1x at 31 December 2013
  • Dividend proposed for 2014: €1.25 per share in cash, equivalent to a 52% payout ratio5 and 58% when excluding the tariff catch-up

Financial guidance for 2015:

  • Groupe EBITDA 6 : organic growth of 0 to 3%
  • Net financial debt/EBITDA : between 2x and 2.5x
  • ayout ratio of net income excluding non-recurring items post hybrid3 : 55% to 65%

2018 ambition:

  • Enhanced action plan on cash flow generation levers:
    • EBITDA growth, CSPE balance, WCR action plan, control of net investments
  • Cash flow after dividends7 : positive in 2018

EDF’s Board of Directors, meeting on 11 February 2015, under the chairmanship of Jean-Bernard Lévy, approved the consolidated accounts of the financial year ending 31 December 2014.

Jean-Bernard Lévy, Chairman and Chief Executive Officer of EDF, said, “2014 was a good year for EDF, which achieved solid operating and financial results, with, in particular, an excellent showing by low-carbon energies. In France, nuclear output exceeded our target and the Group achieved its lowest level of CO2 emissions ever. EDF Énergies Nouvelles beat its record for new solar and wind power plant construction in the world. The energy transition is an opportunity for the Group to make the most of its unique technologies and skills. I believe that EDF has everything going for it to be a major player and thus to consolidate its global leadership.”

More information in the press release

1At constant scope and exchange rate
2Impact of the regularisation of regulated tariffs for the period from 23 July 2012 to 31 July 2013, following the French Council of State’s decision of 11 April 2014
3Continental France and insular energy systems, excluding island generation
4EDF Énergies Nouvelles’ gross capacity under construction, as of 31 December 2014
5Payout ratio applied to Net income excluding non-recurring items adjusted for the remuneration of hybrid issues booked as equity
6In organic terms and excluding the impacts of the €744 million catch-up on 2014 EBTDA following the French Council of State’s decision of 11 April 2014
7Excluding Linky

Carole TRIVI

+33 (0) 1 40 42 44 19