PARIS – EDF reported Thursday of a decrease of 17% of its Ebitda in the first half, the drop in electricity prices in Europe having eroded the profits linked to the increase in nuclear energy production.
The public electrician recorded at the end of June a profit before interest, taxes, depreciations and depreciation (EBITDA) of 15.5 billion euros (against 18.7 billion a year ago), a net result of the group of 5.5 billion euros (against 7.0 billion a year ago), and a turnover of 59.44 billion (against 60.2 billion a year ago).
Its net financial debt fell 4.4 billion euros since the end of December to 50 billion euros at the end of June.
“Bond emissions made for an amount of around 7.4 billion euros and the drop in rates and short -term debt allow control of the cost of financing,” EDF said in a press release.
Electricity prices continued to decrease compared to the summits affected in 2022 and 2023, low industrial demand and higher renewable energy production pushing them below the operating cost of a nuclear power plant.
EDF, which reiterated its 2025 and 2027 prospects on Thursday, warned in February that its EBITDA could fall by 9 billion euros this year due to this drop in prices.
The group, whose French State has become the only shareholder again in June 2023, aims to build six EPR2 reactors over the next 15 years and will provide a cost estimate by the end of this year, CEO Bernard Fontana told journalists, a final investment decision to be taken in the second half of 2026.
(Forrest Crellin report, written by Kate Entringer, edited by Augustin Turpin)
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