Europe 1 with AFP 09:27, February 18, 2022
The EDF group revealed this Friday its "action plan" to deal with the difficulties it is encountering, with a disposal plan of around 3 billion euros.
The Minister of the Economy Bruno Le Maire announced that the State will contribute up to 2.1 billion euros to the recapitalization of EDF.
EDF announced Friday an "action plan" with a bailout of the State to strengthen its finances while the year 2022 promises to be difficult with problems in nuclear production and government measures to limit the rise in bills of electricity.
EDF will indeed suffer this year from nuclear production at half mast, with in particular corrosion problems on several reactors, and government measures to limit the rise in electricity bills.
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The group, nearly 84% owned by the state, saw its net profit multiplied by 8 last year to 5.1 billion euros, benefiting in particular from good nuclear production in France.
But "we have been encountering difficulties since the start of 2022", which will require "an action plan", CEO Jean-Bernard Lévy told journalists.
A sale and an investment plan
Finally, EDF announces disposals of approximately 3 billion euros in total over the years 2022-2023–2024.
With a net debt of 43 billion euros at the end of last year, the group must face significant investments.
The State will participate to the tune of 2.1 billion euros in the recapitalization, announced on RTL the Minister of the Economy Bruno Le Maire.
This sum corresponds to the 83.9% share of the State in EDF, which announced at the same time that it would increase its capital by 2.5 billion euros.