Historic disaster at EDF, with a loss that peaks at 18 billion euros

Posted Feb 17 2023 at 9:03Updated Feb 18. 2023 at 10:54

The announcement was expected, it is no less impressive. On Friday, the new CEO of EDF, Luc Rémont announced a historic loss of 17.9 billion euros for the year 2022. A record for the group and a near-record also for French companies. Among the worst losses in recent years, only France Telecom and Vivendi Universal have done better with losses that peaked at around twenty billion euros.

Ironically, 2022 might have been like for TotalEnergies, one of EDF’s best years given the spike in energy prices caused by the war in Ukraine. This caused a surge in the group’s turnover, which reached 143.5 billion euros, up 70% over one year.