E.D.F. French Société anonyme
with share capital of €2,084,809,296.50 Registered head office: 22-30, avenue de Wagram 75382 Paris cedex 08
552 081 317 RCS Paris
EDF group
HALF-YEAR FINANCIAL REPORT AT 30 JUNE 2023
At its meeting of 26 July 2023, EDF's Board of Directors approved this Half-year financial report and the condensed consolidated financial statements for the half-year ended 30 June 2023 included in it.
This report contains information relating to the markets in which the EDF group is present. This information has been taken from surveys carried out by external sources. Considering the very rapid changes that characterise the energy sector in France and worldwi de, it is possible that this information could turn out to be mistaken or outdated. Developments in the Group's activities could consequently differ from those described in this Half-year financial report and the declarations and information presented in this report could prove to be erroneous.
The forward-looking statements contained in this Half-year financial report, particularly in section 6 of the Management Report, "Financial Outlook", are based on assumptions and estimates that could evolve or be modified due to risks, uncertainties (relati ng notably to the economic, financial, competition, regulatory, and climate environment), or other factors that could cause the future results, performances and achievements of the Group to differ significantly from the objectives expressed and suggested here. These factors may include changes in the economic and business environment and in regulations, and the factors discussed in section 2 of the EDF group's 2022 Universal Registration Document, "Risk factors and control framework".
Pursuant to European and French legislation, the entities responsible for the transmission and distribution of electricity within the EDF group are not allowed to communicate certain information collected in the course of their activities to other Group entities, including the Group's Management. Similarly, certain data specific to generation and supply activities cannot be communicated to the entities responsible for transmission and distribution. This Half-year financial report has been prepared by the EDF group in compliance with these rules.
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CONTENTS OF THE HALF-YEAR FINANCIAL REPORT
- CERTIFICATION BY THE PERSON RESPONSIBLE FOR THE 2023 HALF-YEAR FINANCIAL REPORT
- HALF-YEARMANAGEMENT REPORT AT 30 JUNE 2023
- STATUTORY AUDITORS' REVIEW REPORT ON THE FIRST HALF-YEAR FINANCIAL INFORMATION FOR 2023 (1 JANUARY TO 30 JUNE 2023)
- CONDENSED CONSOLIDATED HALF-YEAR FINANCIAL STATEMENTS AT 30 JUNE 2023
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CERTIFICATION BY THE PERSON RESPONSIBLE FOR THE 2023 HALF-YEAR FINANCIAL REPORT
I certify that, to the best of my knowledge, the condensed consolidated half-year financial statements at 30 June 2023 are prepared in accordance with the applicable accounting standards and give a true and fair view of the assets and liabilities, financial position and net income of the company and of all the companies included in the scope of consolidation, and that the attached Half -year management report presents a true and fair view of the important events of the first six months of the financial year and their impact on the financial statements, the main related party transactions, and a description of the principal risks and uncertainties for the remaining six months of the financial year.
Paris, 26 July 2023
Luc Rémont
Chairman and Chief Executive Officer of EDF
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HALF-YEAR MANAGEMENT REPORT AT 30 JUNE 2023
CONTENTS
NOTE 1 SIGNIFICANT EVENTS AND KEY FIGURES | 6 | |
NOTE 2 ECONOMIC ENVIRONMENT | 8 | |
2.1 | Market prices for electricity and the principal energy sources | 8 |
2.2 | Consumption of electricity and natural gas | 11 |
2.3 | Sales tariffs for electricity and natural gas | 11 |
2.4 | Weather conditions: temperatures and rainfall | 12 |
NOTE 3 SIGNIFICANT EVENTS | 13 | |
3.1 | Regulatory environment | 13 |
3.2 | Corporate governance | 13 |
NOTE 4 ANALYSIS OF THE BUSINESS AND THE CONSOLIDATED INCOME STATEMENT FOR THE FIRST HALF- | ||
YEARS OF 2023 AND 2022 | 14 | |
4.1 | Sales | 14 |
4.2 | EBITDA | 17 |
4.3 | EBIT | 20 |
4.4 | Financial result | 20 |
4.5 | Income taxes | 21 |
4.6 | Net income excluding non-recurring items | 21 |
4.7 | EDF net income - Group share | 21 |
NOTE 5 NET FINANCIAL DEBT, CASH FLOWS AND INVESTMENTS | 22 | |
5.1 | Net financial debt | 22 |
5.2 | Operating cash flow | 23 |
5.3 | Group cash flow | 24 |
5.4 | Effect of change in exchange rates | 25 |
5.5 | Other non-monetary changes | 25 |
NOTE 6 FINANCIAL OUTLOOK | 25 | |
NOTE 7 MANAGEMENT AND CONTROL OF MARKET RISKS | 25 | |
7.1 | Management and control of financial risks | 25 |
7.2 | Management and control of energy market risks | 30 |
NOTE 8 TRANSACTIONS WITH RELATED PARTIES | 31 | |
NOTE 9 PRINCIPAL RISKS AND UNCERTAINTIES FOR THE SECOND HALF-YEAR OF 2023 | 31 | |
NOTE 10 SIGNIFICANT EVENTS RELATED TO LITIGATION IN PROCESS | 31 | |
NOTE 11 SUBSEQUENT EVENTS | 32 |
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EDF - Électricité de France SA published this content on 27 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2023 07:35:12 UTC.
