Résultats

MANAGEMENT REPORT 2013 2013 Management report Contents 1 1 1 1 2 Financial and legal information 2 1 12 1 3 1 4 1 5 1 6 1 7 1 8 1 9 1 10 1 11 Key figures 2 Economic environment and significant events of 2013 3 1 2 1 Economic environment 3 1 2 2 Significant events 8 Analysis of the business and the consolidated income statements for 2012 and 2013 13 1 3 1 Sales 13 1 3 2 Operating Profit Before Depreciation and Amortisation (EBITDA) 16 1 3 3 Operating profit (EBIT) 18 1 3 4 Financial result 19 1 3 5 Income taxes 19 1 3 6 Share in income of associates 20 1 3 7 Net income attributable to non-

to-day business activities, the investments necessary for its expansion and the annual appropriations to the dedicated portfolio of assets covering long... Furthermore, the expansion of the EDF Group' s gas business is an important issue, both in terms of the use of gas in power generation and the development of gas offers.

and fits within a rationale that is defined by the Group in terms of expansion and development outlook... EBITDA is down- 11 5 %, which is what you can see down on the left, and this decrease is only due to the decline in the trading business, the margin of which has shrunk... In the non regulated business in France, that is mainly the replacement of some element or units in the nuclear fleet in France.

This pressure is arising at a time when EDF' s domestic electricity volumes sold are increasingly exposed to market prices following the termination of regulated tariffs for mid size and large business customers on 1 January 2016 (see exhibit below... Cour des Comptes Other main projects include (1) the 1 6 GW Flamanville 3 nuclear plant, whose start has been delayed to late 2018; (2) the Linky smart meter project; and (3) expansion of renewable capacity through EDF EN.

They demonstrate that EDF Group plays a significant role in the shaping of renewable energies and is able to offer reliable solutions for global expansion. Bruno Bensasson, the Group Executive Vice- President in charge of Renewable Energies and Simone Rossi... Blyth off shore wind farm Located off the Northumberland coast, the Blyth off shore wind farm is composed of five turbines with total generation capacity of 41 5 MW.

expansion and growth of operations, trends in its business. competitive advantage, and technological and regulatory changes.

EDF expanded its thermal power generation business in China by acquiring a 35 % share in the Sanmenxia supercritical coal plant (2 x 600 MW,) alongside leading Chinese electric utility China Datang Corporation (60 %) and the city of Sanmenxia (5 %... in power thereby generation to be problems R & D will also be a growth area for the Group' s business in China smoothed combating associated with the intermittent nature of solar energy.

Furthermore, the expansion of the EDF Group' s gas business is an important issue... In addition, the EDF Group may have also used resources without obtaining necessary permits and authorisations and therefore have to cancel or withdraw from a project, which may have an adverse impact on its business, expansion or financial position.

the Group has opted to present its obligation to renew concession assets in the balance sheet at a value based on the amount of contractual commitments as calculated and disclosed to the grantors in the annual business reports... or liability in a transaction which is not a business combination and does not affect the accounting profit.

the Group has opted to present its obligation to renew concession assets in the balance sheet at a value based on the amount of contractual commitments as calculated and disclosed to the grantors in the annual business reports... or liability in a transaction which is not a business combination and does not affect the accounting profit.