2024-02-16 07:40:14
Electricity giant EDF ended 2023 in the green, with a net profit of 10 billion euros, thanks to the recovery of its nuclear production heavily affected by industrial problems in 2022, the group announced on Friday. These results are described as “exceptional” by EDF, which suffered a loss of 17.9 billion euros in 2022. Its turnover fell by 2.6% to 139.7 billion euros, but the group reduced its debt by 10 billion euros. However, this remains at the colossal level of 54.4 billion euros.
Depreciation of 12.9 billion euros
EDF, on the other hand, suffered a depreciation of 12.9 billion euros linked mainly to the difficulties of the construction site of its Hinkley Point nuclear reactors in Britain. This depreciation amounts to 11.2 billion for the assets of Hinkley Point and 1.7 billion for the goodwill of the British subsidiary EDF Energy, following the announcement in January of a delay and additional costs for the project, explains the group. “The year was marked by many events, in particular by the recovery of production and the mobilization of the company around the recovery of production,” said EDF CEO Luc Rémont on Friday to a few journalists.
The results were driven “by a very good operational performance with a significant increase of 41.4 terawatt hours (TWh) in nuclear production in France, in a context of historically high prices”, comments the group. French reactors produced some 320.4 TWh in 2023, at the top of the announced range. In 2022, nuclear production had fallen to 279 TWh, its lowest level in 30 years, once morest a backdrop of industrial difficulties (discovery of a corrosion problem, delay in maintenance schedules linked to the Covid health crisis).
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