10 May 2016
Quarterly Financial Information
- First quarter 2016 sales of €21.4bn, down 6.0% in organic terms1, in an unfavourable environment in Europe
- Increasingly competitive environment
- Wholesale power prices at historically low levels, in particular in France
- Sales negatively affected by mild winter weather
- Nuclear output down slightly in France due to weather conditions
- 116.1TWh, down 1.8% vs. the first quarter 2015
- 2016 target adjusted to 408 – 412TWh, to take into account the extended duration of the outage of Paluel 2
- Continuation of the Group’s strategic developments
- Developments in renewable energy in the United States:
- Signing of the agreement for the acquisition of Global Resource Options, Inc. (groSolar) on 25 April 2016
- Power purchase agreement with Southern California Edison Company for a 111MW solar project signed on 7 April 2016
- Ramp up in development of low-carbon energy in India and in Egypt
- Announcement on 20 April 2016 of the signing of the project to acquire Studsvik’s decommissioning and radioactive waste management activities in Sweden and in the UK
- Opening of the Group’s research and development centre at Saclay
- Signing of a strategic partnership with Enbridge for the first three offshore wind farms projects off the French coast
- Developments in renewable energy in the United States:
- Financial outlook
- 2016 targets confirmed
- Ambition of a positive cash flow after dividends2 in 2018 maintained
- Action plan presented on 22 April 2016 to support the Group’s development under the CAP 2030 strategy
- Net investments (excluding Linky and excluding new developments) optimised by close to €2bn in 2018 compared to 2015. Net investments should reach €10.5bn in 2018
- A reduction in operational expenditures of at least €1bn in 2019 compared to 2015
- An asset disposal plan of approx. €10bn by 2020
- A project to increase equity capital
1At constant scope and exchange rates
2Excluding Linky and new developments net of disposals
Contacts
Analysts and investors
Phone: +33 (0) 1 40 42 40 38
Press Office
Phone: +33 (0) 1 40 42 46 37
service-de-presse@edf.fr