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2013 Annual Results

Sales are the total amount of EDF‘s products and services sales. They are mostly composed of energy, transport and distribution services sales, in France and abroad.

The EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) is equal to the balance of sales and cash operating charges (buys, personnel expenses, taxes). This indicator measures the company's ability to be self-financing.

Sales amounted to €75,594 million in 2013, an increase of €3,416 million (+4.7%) from 2012. Excluding the effects of exchange rates (-€591 million), principally reflecting the pound sterling's decline against the Euro, and excluding changes in the scope of consolidation (€1,907 million) essentially relating to the takeover of Edison, organic growth stood at +2.9%.

Consolidated EBITDA for 2013 amounted to €16,765 million, up by 4.8% from 2012. After adjustment for the positive €17 million scope effect and unfavourable foreign exchange effects of -€134 million, mainly resulting from the fall in the pound sterling against the Euro, organic growth was +5.5%.

In millions of euros 2012(1) 2013 Change Change
en %
Organic growth in %(2)
Sales 72,178 75,594 +3,416 +4.7 +2.9
EBITDA 15,998 16,765 +767 +4.8 +5.5
Net income - Group share 3,275
 +242  +7.4  
Net income excluding non-recurring items 4,175
 -58  -1.4  

1. Data restated for the impact of IAS 19 revised and change in presentation of EDF Energies Nouvelles' DSSA activities (Development and Sale of Structured Assets)
2. Organic growth at constant scope and exchange rates

(Pro Forma)(3)
Net financial debt (In €Bn) 39.2 35.5
Net financial debt / EBITDA ratio 2.4x 2.1x

3. Pro forma after allocation of the CSPE deficit to dedicated assets on 13 February 2013 and subtraction of €2.4bn from dedicated assets portfolio, enabling 100% coverage of the EDF nuclear liabilities.

Sales, EBITDA, contribution by country

Group sales amounted to €39,747 million in H1 2013, up by +10.7% (+4.3% on an organic basis) compared with H1 2012.

The Group's EBITDA totaled €9,698 million in H1 2013, up by +6.9% (+6.0% on an organic basis) compared with H1 2012.

Net income & Cash flow

EDF net income was €2,877 million in H1 2013, up by +3.5% in comparison with H1 2012.

Net cash flow from operations increased to €7,910 million in H1 2013 from its H1 2012 level of € 6,586 million (+€1,324 million, or +20.1%).

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