|
|
|
|
|
 The rebound in our results in 2018 has occurred and is in line with our forecasts. We have achieved all our financial objectives
|
and are exceeding all the targets of our performance plan. 
|
|
|
|
|
|
|
|
|
|
|
|
FOCUS
|
|
|
|
Operational and financial targets met or exceeded in 2018
| • |
cash flow(2) largely positive |
| • |
excellent execution of the performance plan |
|
|
|
|
|
Acceleration and transformation on all fronts of the CAP 2030 strategy
| • |
3 priorities: customer focus, low-carbon generation and international development |
| • |
1 transformation plan: EDF, the efficient and responsible electricity company, the champion in low-carbon growth |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018 DIVIDEND
|
|
|
|
Proposed dividend for 2018: €0.31 per share, corresponding to a
payout ratio of 50%, with option of payment of the dividend balance in new shares.
|
|
|
|
|
|
|
|
|
|
|
|
|
2019 TARGETS(3)
|
|
|
|
EBITDA(4): €15.3-16.0bn
|
|
|
|
|
Decrease in Opex(5):
∼€1.1bn vs. 2015
|
|
|
|
|
Cash flow: >0
excluding HPC and Linky
|
|
|
|
|
|
|
|
|
|
|
|
2019-2020 AMBITIONS(3)
|
|
|
|
|
Total net investments(6):
∼€15bn/year
excluding acquisitions and "2019-2020 Group disposals"
|
|
|
|
|
2019-2020 Group disposals:
€2bn to €3bn
|
|
|
|
|
Net financial debt/EBITDA(4): ≤2.5x
|
|
|
|
|
Payout ratio based on net income excluding non-recurring items(7):
45-50%
French State committed to scrip for the balance of the 2018 dividend and dividends relating to FY2019 and FY2020
|
|
|
|
|
|
|
|
|
CALENDAR
|
|
|
|
14 May:
2019 first quarter sales
|
|
|
|
|
16 May:
Combined Shareholders’ Meeting
|
|
|
|
|
26 July:
2019 half-year results
|
|
|
|
|
|
|
|
|
|
|
