Net income & cash flow
EDF Net Income
EDF net income is the net income including non-recurring items.
EDF net income for 2012 was €3,316 million, up by €168 million or +5.3% compared to 2011.
Net income is the difference between Operating profit and net financial expense. Net income is computed after tax and excludes non-recurring items.
The Group's net income excluding non-recurring items stood at €4,216 million for 2012, €609 million (+16.9%) higher than 2011.
Operating cash flow
The operating cash flow amounted to €12,314 million at 31 December 2012 compared to €10,281 million in 2011, an increase of €2,033 million (+19.8%).
This change principally reflects the rise in EBITDA (+€1,145 million), and the decrease in non-monetary items (+€1,325 million), primarily relating to fair value adjustments of financial derivatives. These positive effects were partly counterbalanced by the rise in income taxes paid (-€255 million), particularly in France, mainly as a result of the higher profits reported by the French tax consolidated group and the impact of new finance laws.
| 2011 restated | 2012 | Δ % | |
|---|---|---|---|
| in € million | |||
| Operating Cash Flow | 10,281 | 12,314 | +19.8 |
| Δ WCR | -1,121 | -2,390 | |
| Operating investment net of disposals | -10,637 | -12,638 | |
| Free Cash Flow | -1,477 | -2,714 |
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