Overview
- Net profit for 2025 fell 26.3% to €8.4 billion and revenue declined 4.5% to €113.3 billion, driven chiefly by lower wholesale electricity prices.
- Nuclear generation increased to 373 TWh, with improved outage management leading to more reactors restarting ahead of schedule than in 2024.
- Net debt decreased to €51.5 billion, down €2.9 billion from end-2024, and management will propose a €1 billion payout to the French state.
- EDF revised Hinkley Point C to an estimated £35 billion and targets the first reactor start in 2030, booking a €2.5 billion impairment tied to a tariff revision.
- The six-reactor EPR2 program is re-evaluated at €72.8 billion, with a potential end-2026 investment decision pending EU approval, as EDF pursues €1 billion a year in overhead savings and prepares for investment needs of up to €460 billion by 2040.