EDF Group SA, a leading French electric utility company, reported a significant turnaround in its fiscal year on Friday. The company's net group share income for 2023 was 10.02 billion euros, a stark contrast from the 17.94 billion euros loss recorded in the previous year.
The adjusted net income stands at 18.5 billion euros; a noteworthy increase of 31.1 billion euros from the prior year and is in correlation with the significant EBITDA growth.
In the fiscal year 2023, the company recorded an EBITDA of 39.9 million euros, showing a recovery from the 4.99 million euros loss experienced in the previous year. A contributing factor to this growth was the gradual resurgence of nuclear power generation in France, the high-priced European market, as well as a lack of restrictive regulations compared to those established in 2022.
Nevertheless, the company reported a decline in their annual sales. EDF Group SA recorded sales of 139.72 billion euros, a decrease from the previous year's sales of 143.48 billion euros.
