The year 2022 was dark for EDF, marked by the low availability of its nuclear fleet and its forced contribution to the “tariff shield” the French. Friday, January 17, the group published unrivaled figures for the financial year of the past year: 17.9 billion euros in loss. Its financial debt is also increased to 64.5 billion euros
– another historical level.
Its turnover increased by 70%, to 143.5 billion euros, driven by the rise in energy prices, but the group went into the red with a very heavy net loss, against a profit of 5 .1 billion in 2021. With the general surge in electricity prices, EDF has seen many French customers return, but the operating margin has suffered from purchases at high prices to cover their needs.
Production expected to recover in 2023
The group’s chairman and chief executive, Luc Rémont, however said on Thursday during a conference call that EDF was aiming for an Ebitda (earnings before interest, taxes, depreciation and amortization) for 2023. “significantly superior” to that of 2021, thanks in particular to the rebound in production and high prices.
“Despite a strong increase in turnover, supported by electricity and gas prices, EBITDA is strongly penalized by the drop in nuclear production as well as the exceptional regulatory measures put in place in France for 2022, in difficult market conditions. »
The leader of the group in the process of complete renationalisation, has, on the other hand, confirmed “the nuclear generation range of 300 to 330 terawatt hours [en 2023]i.e. a gradual exit from the stress corrosion crisis” noted on portions of piping, which had shut down a number of reactors since the end of 2021.
EDF, which saw the production of its French nuclear fleet drop by 23%, to 279.0 terawatt hours in 2022, due in particular to corrosion problems in certain reactors, confirmed that it should recover in 2023, at a level between 300 and 330 terawatt hours.