Net income excluding non-recurring items: €4.1 billion, compared to €4.8 billion in 2015, -15.3%
Net income - Group share: €2.9 billion, 2.4x compared to 2015
Nuclear output:
- France: 384TWh, -7.9% due primarily to additional controls resulting in outages or the extension of certain planned outages
- United Kingdom: 65.1TWh, a record level since 2003, +4.5TWh compared to 2015
Renewable energies: Commissioning of 1.2GW of gross wind and solar power capacity by EDF Énergies Nouvelles. 1.8GW of capacity under construction
Performance plan
Continuation of Opex reductions: -€0.3 billion compared to 2015
Rapid progress of the disposals plan: €6.7 billion in disposals signed or realised, 67% of the objective
Debt
Stabilised net financial debt: €37.4 billion
Net financial debt/EBITDA: 2.3x, in line with the target of below 2.5x
Proposed dividend for 2016: €2.1 billion, with an option of payment in new shares, with a payout ratio of 60%
2017 targets
Nuclear output: 390 - 400TWh
EBITDA: €13.7 to 14.3 billion
Net financial debt/EBITDA: = 2.5x
Payout ratio of Net income excluding non-recurring items: 55% to 65%
2018 targets
Continuation of the Opex plan with a savings of €0.7 billion compared to 2015
EBITDA: = €15.2 billion
Net investment excluding Linky8, new developments and disposals: ~€10.5bn
Cash flow: = 0
Net financial debt/EBITDA: = 2.5x
Payout ratio of Net income excluding non-recurring items: 50%
EDF's Board of Directors meeting on 13 February 2017, under the chairmanship of Jean-Bernard Lévy, approved the consolidated financial statements for the year ended.
Jean-Bernard Lévy, EDF's Chairman and CEO, stated:
'The 2016 financial results show that EDF's fundamentals are robust. The Group's transformation is well under way, thanks to the commitment and remarkable effort of its employees. The CAP 2030 strategy is advancing at a steady pace and the performance plan is progressing according to the announced trajectory, a sure sign that the company is moving forward. We will continue this momentum in 2017 by launching new offers and innovative services for our customers, by developing low carbon projects and by exporting our expertise into targeted markets outside of Europe.'
Organic variation at comparable scope and exchange rates
Sum of personnel expenses and other external expenses. At 2016 consolidation scope and exchange rates. At constant pension discount rates. Excluding change in operational expenditures of service activities
At 2016 exchange rate
At 2016 exchange rate and at an assumed discount rate on nuclear provisions of 4.1% in 2017
Adjusted for the remuneration of hybrid bonds accounted for in equity
At constant scope, exchange and hypothesis of pensions discount rates. Excluding change in operating expenses of service activities
At 2016 exchange rate and assumption for 2018 power prices in France on volumes not hedged as of 31.12.2016: = €36/MWh
Linky is a project led by Enedis, independant subsidiary of EDF under the provisions of the French energy code
At 2016 and exchange rates. Cash flow excluding Linky, new developments and asset disposals, with nuclear commitments discount rates at 4.1% for 2017 and 3.9% for 2018, excluding interim dividend for 2018, which will be decided in the second half of 2018
EDF - Électricité de France SA published this content on 14 February 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 February 2017 09:13:06 UTC.
Original documenthttps://www.edf.fr/en/edf/2016-group-annual-results-0
Public permalinkhttp://www.publicnow.com/view/51F8DB698DC7C4845DFA38269CB18354B69ED4CC
Electricite de France SA (EDF SA) is a France-based electricity producer, marketer and distributor. The Company generates energy using nuclear technology, as well as thermal, hydroelectric and other renewable sources. It is involved in energy generation and energy sales to industries, local authorities and residential consumers. In addition, EDF SA manages low and medium-voltage public distribution network and involves in electricity transmission network. It also provides energy services, such as district heating and thermal energy services. The group is present in France, Belgium, the United States, Poland, Italy, China, Vietnam and other countries worldwide. The Company has such subsidiaries Dalkia (including Citelum), under Dalkia's brand and SINOP Energy Company, among others.
E.D.F. 
