• 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 Groups 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
  • 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 Groups 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

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