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EDF: net income, group share dives 87.4% in 2020

( - This morning EDF unveiled its results for 2020.

The electricity supplier announced net income, group share of 700 million euros, down 87.4% relative to 2019.

Revenues slid 3.4% on a like-for-like basis, reaching 69 billion euros, while EBITDA fell by 2.7% to 16.2 billion euros.

The group nevertheless confirmed its targets for 2021-2022 and says that it will continue to deploy its Cap 2030 strategy in all business lines.

EDF also underlines the acceleration of renewable energy and an increase in the 2030 target. While its portfolio of renewable energy under construction has been tripled in just 2 years (8GW), EDF is targeting an installed renewable capacity of 60GW by 2030.

The share is down over 2% in early trading on Thursday.

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