EDF Energies Nouvelles’ earnings before interest, taxes, depreciation and amortisation fell almost 15% last year to €751m, a drop of €127m.
The company said the fall was down to lower sales of assets in 2017 than in 2016, which “registered a high level of such operations” .
However, EDF EN’s renewables capacity grew 23% last year to 8.8GW, an increase of 1.6GW on 2016.
Output from the company’s solar and wind assets was up 11% to 12.6 terrawatt-hours in 2017.
EDF EN said it has a further 1.9GW of renewables projects under construction and 22.5GW in the pipeline.
EDF chairman and chief executive Jean-Bernard Levy said: “We are beginning an unprecedented acceleration in renewable energies with the launch of EDF’s solar plan, at the same time that we are strengthening our commercial initiatives.”
The company plans to develop 30GW of solar power projects in France over the 2020-2035 period.
Overall, EDF reported EBITDA down more than 16% to just under €13.8bn from over €16.4bn, with sales falling 2.2% to €69.6bn.
Image: EDF
EDF EN earnings slide
By EBS