The French energy giant EDF achieved a new record profit in 2024 with 11.4 billion euros. The electricity producer boosted the profit thanks to a significant increase in the production of electricity from core and hydroelectric power stations, which compensated for the falling electricity price.
Turnover was 15.7 percent lower to 118.7 billion euros. The EBITDA profit (profit for interest, taxes, depreciation and value reductions) fell by 3.4 billion euros or 8.5 percent to 36.5 billion euros. EDF refers to a context of falling market prices.
Just like in 2023, EDF further drove production, after the power production was historically low in disaster year 2022. The company then suffered from rust problems in the nuclear power stations and drought that influenced the functioning of the hydroelectric power stations.
EDF is entirely in the hands of the French State, after the then government announced the entire nationalization during the energy crisis in 2022. Before that France already owned 84 percent of the company. EDF, active worldwide, is the operator of the French nuclear power stations. In Belgium, the company is active via Luminus, which is co-owner of the Belgian nuclear power plants.
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