popular articles

EDF posts record €11.4 billion profit despite revenue decline

EDF recorded a net profit of €11.4 billion in 2024, driven by increased nuclear and hydropower production. Despite falling electricity prices, the utility maintains strong financial results but faces financial and strategic challenges.

Please share:

French utility EDF announced a record net profit of €11.4 billion for 2024, supported by a recovery in nuclear and hydropower output. This performance marks a significant improvement from the difficulties encountered in 2022, when nuclear plant corrosion issues and adverse climate conditions impacted hydropower generation.

Strong profitability despite declining revenue

Despite its strong net profit, EDF’s revenue fell by 15.7%, reaching €118.7 billion. This decline is primarily due to lower electricity market prices, which affected the company’s overall income. The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at €36.5 billion, down 8.5%, while still remaining at historically high levels after 2023.

The company continues to bear a debt burden of €54.3 billion, a stable level compared to the previous year. EDF is working to contain its debt as it engages in discussions with the French government regarding the financing of a large-scale nuclear programme aimed at constructing six new EPR2 reactors.

International uncertainties impact investments

EDF is also facing challenges with its international investments, particularly in the United States, where offshore wind power has encountered regulatory obstacles. The company announced a €900 million impairment on its stake in the Atlantic Shores project, a joint venture with Shell. This decision follows restrictive policies by the US administration, which have frozen offshore wind permits and federal financing.

The Atlantic Shores project involves the construction of offshore wind farms off the coast of New Jersey in zones awarded in 2022. Shell has already suspended its participation in one segment of the project, recording an impairment of approximately $1 billion, according to Bloomberg. EDF, for its part, continues to assess its options in light of these new constraints.

Outlook and challenges for 2025

The year 2024 was marked by the commissioning and grid connection of the Flamanville EPR nuclear reactor, a strategic milestone for EDF. However, the company still needs to finalise the financing arrangements for its future EPR2 reactors, as discussions with the French government face delays.

Internationally, evolving energy policies, particularly in the United States, could affect the group’s ambitions in the renewable sector. EDF will need to balance the consolidation of its nuclear fleet with managing its foreign investments in an increasingly uncertain energy transition landscape.

Register free of charge for uninterrupted access.

Publicite

Recently published in

Vermilion Energy sells U.S. assets for $87.88mn and adjusts its forecasts

Vermilion Energy is exiting the U.S. market permanently by selling its assets for C$120mn ($87.88mn), refocusing its operations on Canada and Europe while reducing its debt and investment budget.
In 2024, Italian energy giant Eni paid approximately €8.4 billion to various global governments. These payments, primarily concentrated in Africa and Asia, reflect its commitments in the international energy sector.
In 2024, Italian energy giant Eni paid approximately €8.4 billion to various global governments. These payments, primarily concentrated in Africa and Asia, reflect its commitments in the international energy sector.
The International Energy Agency projects a record-high global energy investment in 2025, driven by electricity and low-carbon technologies despite geopolitical and economic uncertainty.
The International Energy Agency projects a record-high global energy investment in 2025, driven by electricity and low-carbon technologies despite geopolitical and economic uncertainty.
The Czech regulatory authority launches an investigation into suspected collusion involving several major actors in the awarding of a thermal power plant, putting transparency of a strategic transaction for the energy sector at stake.
The Czech regulatory authority launches an investigation into suspected collusion involving several major actors in the awarding of a thermal power plant, putting transparency of a strategic transaction for the energy sector at stake.

DR Congo replaces cobalt export ban with quota system

The Democratic Republic of Congo is set to replace its temporary ban on cobalt hydroxide exports with quotas, aiming to balance global demand, secure revenue, and stabilize market fluctuations.
European Energy secured EUR 145mn in financing from SEB and Swedbank to support wind, solar, and storage assets in Lithuania, reinforcing its regional expansion strategy.
European Energy secured EUR 145mn in financing from SEB and Swedbank to support wind, solar, and storage assets in Lithuania, reinforcing its regional expansion strategy.
Greenvolt Group finalised the sale of 28 solar and wind projects to Transiziona, valued at €195mn, bringing total asset sales to €530mn in 2025 as part of its pan-European strategy.
Greenvolt Group finalised the sale of 28 solar and wind projects to Transiziona, valued at €195mn, bringing total asset sales to €530mn in 2025 as part of its pan-European strategy.
Royal Vopak’s Indian joint venture rose nearly 3% on its first trading day in Mumbai, reaching an implied valuation of €2.7bn ($2.93bn).
Royal Vopak’s Indian joint venture rose nearly 3% on its first trading day in Mumbai, reaching an implied valuation of €2.7bn ($2.93bn).

Davidson Kempner acquires Swire Energy Services to strengthen offshore presence

US investment fund Davidson Kempner has reached an agreement to acquire Swire Energy Services, a provider of offshore equipment, strengthening its position in the global energy market.
Saudi-based ACWA Power has signed strategic agreements in Malaysia to develop up to 12.5 GW of energy capacity by 2040, with a potential investment of $10 billion.
Saudi-based ACWA Power has signed strategic agreements in Malaysia to develop up to 12.5 GW of energy capacity by 2040, with a potential investment of $10 billion.
Fusion Fuel Green has signed a preliminary agreement to acquire a private UK-based fuel distribution company generating $58mn in revenue, through a £50mn debt-equity structured transaction.
Fusion Fuel Green has signed a preliminary agreement to acquire a private UK-based fuel distribution company generating $58mn in revenue, through a £50mn debt-equity structured transaction.
ExxonMobil plans to sell its 82.89% stake in Esso S.A.F. to North Atlantic France, valuing shares based on €1.49bn cash holdings and a price subject to several adjustments.
ExxonMobil plans to sell its 82.89% stake in Esso S.A.F. to North Atlantic France, valuing shares based on €1.49bn cash holdings and a price subject to several adjustments.

TotalEnergies maintains its strategy despite economic pressures and activism

Patrick Pouyanné reassures shareholders by confirming TotalEnergies' strategic direction, combining hydrocarbons and low-carbon electricity, despite an unstable economic environment and climate activist protests in Paris.
UK-based SSE recorded an adjusted operating profit of £2.42bn for fiscal year 2024/25, supported by record investments in networks and renewable energy.
UK-based SSE recorded an adjusted operating profit of £2.42bn for fiscal year 2024/25, supported by record investments in networks and renewable energy.
Iberdrola has signed an agreement to acquire the distribution, supply and energy generation activities of Electra del Maestrazgo, a family-owned company operating in Castellón and Teruel, for an undisclosed amount.
Iberdrola has signed an agreement to acquire the distribution, supply and energy generation activities of Electra del Maestrazgo, a family-owned company operating in Castellón and Teruel, for an undisclosed amount.
John Bryson, a key figure in the American energy sector, has died at the age of 81. The former CEO of Edison International played a decisive role during California’s electricity crisis.
John Bryson, a key figure in the American energy sector, has died at the age of 81. The former CEO of Edison International played a decisive role during California’s electricity crisis.

New York approves $5 billion plan for electrification and energy efficiency

New York state regulators have approved a $5 billion budget for energy efficiency and electrification programmes, set to launch on January 1, 2026.
Aircela has introduced a unit capable of producing gasoline directly from air, water, and renewable electricity, without using fossil resources.
Aircela has introduced a unit capable of producing gasoline directly from air, water, and renewable electricity, without using fossil resources.
Sustainability Partners will now manage the operational oversight of Ecofin’s U.S. portfolio, comprising solar and wind projects under contract with investment-grade electricity providers.
Sustainability Partners will now manage the operational oversight of Ecofin’s U.S. portfolio, comprising solar and wind projects under contract with investment-grade electricity providers.
Strathcona Resources reshapes its portfolio with the $2.84bn sale of Montney gas assets and a $45mn acquisition of the Hardisty Rail Terminal to refocus on heavy oil operations.
Strathcona Resources reshapes its portfolio with the $2.84bn sale of Montney gas assets and a $45mn acquisition of the Hardisty Rail Terminal to refocus on heavy oil operations.

SBM Offshore reports 27% revenue growth in the first quarter of 2025

SBM Offshore posted quarterly revenue of $1,103mn, driven by the Turnkey segment, while maintaining full-year targets and advancing the deployment of its floating units scheduled for 2025.
Shell paid $28.1bn to governments in 2024 for its extractive activities, with major flows reported in Nigeria, Malaysia and Oman, according to its regulatory disclosure in the United Kingdom.
Shell paid $28.1bn to governments in 2024 for its extractive activities, with major flows reported in Nigeria, Malaysia and Oman, according to its regulatory disclosure in the United Kingdom.
CGN Brasil and the government of Piauí have signed an agreement to develop a 1.4 GW energy complex combining solar, wind and storage, with a planned investment of $578mn.
CGN Brasil and the government of Piauí have signed an agreement to develop a 1.4 GW energy complex combining solar, wind and storage, with a planned investment of $578mn.
The iliad Group signs four new renewable electricity purchase agreements in France, Italy and Poland, bringing its total number of European energy projects to eight.
The iliad Group signs four new renewable electricity purchase agreements in France, Italy and Poland, bringing its total number of European energy projects to eight.

Advertising