The Group’s consolidated EBIT for 2020 amounted to €3,875 million, down by €2,882 million (-42.7%) from 2019, with an organic decrease of €2,810 million (-41.6%).
(in millions of euros) | 2020 | 2019 (1) | Variation | Variation % |
|---|---|---|---|---|
| EBITDA | EBITDA 2020 16,174 | EBITDA 2019 (1) 16,723 | EBITDA Variation (549) | EBITDAVariation % - 33 |
| Net changes in fair value on Energy and Commodity derivatives, excluding trading activities | Net changes in fair value on Energy and Commodity derivatives, excluding trading activities 2020 (175) | Net changes in fair value on Energy and Commodity derivatives, excluding trading activities 2019 (1) 642 | Net changes in fair value on Energy and Commodity derivatives, excluding trading activities Variation (817) | Net changes in fair value on Energy and Commodity derivatives, excluding trading activities Variation %- 127.3 |
| Net depreciation and amortisation(2) | Net depreciation and amortisation (2)2020 (10,838) | Net depreciation and amortisation (2)2019 (1) (10,020) | Net depreciation and amortisation (2)Variation (818) | Net depreciation and amortisation (2)Variation %+ 8.2 |
| (Impairment)/reversals | (Impairment)/reversals 2020 (799) | (Impairment)/reversals 2019 (1) (403) | (Impairment)/reversals Variation (396) | (Impairment)/reversals Variation %+ 98.3 |
| Other income and expenses | Other income and expenses 2020 (487) | Other income and expenses 2019 (1) (185) | Other income and expenses Variation (302) | Other income and expenses Variation %+ 163.2 |
EBIT | EBIT 2020 3 875 | EBIT 2019 (1) 6 757 | EBIT Variation (2,882) | EBIT Variation %- 42.7 |
(1) The published figures for 2019 have been restated for the impact of the change in the scope of the E&P disposal (see note 1.4.2 to the 2020 consolidated financial statements).
(2) Including net increases to provisions for replacement of concession assets.
The net changes in fair value on Energy and Commodity derivatives, excluding trading activities, fell from €642 million in 2019 to -€175 million in 2020, a change of €817 million that is in line with EDF Trading’s operations on behalf of EDF entities and Edison’s gas positions.
Net depreciation and amortisation increased by €818 million compared to 2019.
In 2020, impairment amounted to €799 million, and mainly related to impairment of nuclear activities in the United Kingdom.
In 2020, other income and expenses amounted to -€487 million, of which -€405 million concerned the France – Generation and supply segment, principally for repair work to containment penetration welds at the Flamanville 3 site (1).
In 2019, other income and expenses amounted to -€185 million. This particularly included the expense for the preferential employee shareholding offer which took place during the first half of 2019 (see note 15 to the 2019 consolidated financial statements) and restructuring provisions in certain Group entities.
(in millions of euros) | 2020 | 2019* | Variation | Variation % |
|---|---|---|---|---|
| Cost of gross financial indebtedness | Cost of gross financial indebtedness 2020 (1,610) | Cost of gross financial indebtedness 2019* (1,806) | Cost of gross financial indebtedness Variation 196 | Cost of gross financial indebtedness Variation % -10.9 |
| Discount effect | Discount effect 2020 (3,733) | Discount effect 2019* (3,161) | Discount effect Variation (572) | Discount effect Variation % +18.1 |
| Other financial income and expenses | Other financial income and expenses 2020 2,761 | Other financial income and expenses 2019* 4,603 | Other financial income and expenses Variation (1,842) | Other financial income and expenses Variation % -40.0 |
Financial result | Financial result 2020 (2,582) | Financial result 2019* (364) | Financial result Variation (2,218) | Financial result Variation % n.a. |
n.a: not applicable
*The published figures for 2019 have been restated for the impact of the change in the scope of the E&P disposal (see note 1.4.2 to the 2020 consolidated financial statements).
(1) Recognised in accordance with IAS 16.22 concerning abnormal costs incurred in connection with self-constructed assets. These costs affect the EDF net income but have noimpact on net income excluding non-recurring items.
