\n'); } //-->
Net financial debt comprises total loans and financial liabilities, less cash, cash equivalents and liquid assets.
The Group's net indebtedness stood at €41,575 million at 31 December 2012 compared to €33,285 million at 31 December 2011, an increase of €8,290 million over 2012.
This rise is mainly due to the impacts of the Edison operation (€3,259 million), the negative free cash flow (-€2,714 million), and payment of dividends (-€2,355 million).
The average cost of Group debt (weighted interest rate on outstanding amounts) was 3.7% in 2012. The average maturity of Group debt was 8.5 in 2012 compared to 9.2 years in 2011.
In € billion
To find out more:
The Group's free cash flow in 2012 was negative at -€2,714 million (against -€1,477 million in 2011). The main factors were:
In € billion
Click on the graphic to enlarge.
The Group's gross debt in 2012 breaks down as follows by currency after hedging: 62% in Euros, 23% in pounds sterling and 9% in US dollars. The balance of 6% includes the Swiss franc, the Hungarian forint, the Polish zloty, the Brazilian real and the Japanese yen.
The Group's debt after hedging instruments at 31 December 2012 comprised 79% of debt bearing interest at fixed rates and 21% at floating rates. A 1% uniform annual rise in interest rates would generate an approximate €125 million increase in financial expenses at 31 December 2012, based on gross floating-rate debt after hedging.
The agencies' ratings - Moody's, Standard & Poor's and Fitch - are available on the rating pages
|Breakdown Fixed Rate / Floating Rate |
|Breakdown by currency |
* Including PLN, HUF, BRL
Average coupon: 3.7%
Receive EDF's latest financial newsInvestor email update
Taking a closer look