Universal Registration Document 2022

Note 4 Segment reporting

4.1 Reporting by operating segment

Accounting principles and methods

Segment reporting presentation complies with IFRS 8, “Operating segments”.

Segment reporting is presented before inter-segment eliminations. Inter-segment transactions take place at market prices.

In accordance with IFRS 8, the breakdown used by the EDF group corresponds to the operating segments as regularly reviewed by the Management Committee (the Group’s chief operating decision-maker).

The Group’s segments are:

“France – Generation and Supply”: EDF SA's energy production and sales activities. This segment also includes entities operating on the downstream sectors (B2B and B2C, aggregation) and all EDF Invest’s shareholdings;
“France – Regulated activities”: Enedis and Électricité de Strasbourg’s distribution activities, and EDF’s island activities;
“Framatome”: the entities of the Framatome subgroup;
“United Kingdom”: the entities of the EDF Energy subgroup;
“Italy”: Edison entities and TdE SpA;
“Other international”: EDF International and the entities located in continental Europe, the US, Latin America and Asia;
“EDF Renewables”: the entities of the EDF Renewables subgroup;
“Dalkia”: the entities of the Dalkia subgroup;
“Other activities”: comprising in particular EDF Trading and EDF Investissements Groupe.

No segments have been merged.

4.1.1 At 31 December 2022

(in millions of euros)	France – Genera- tion and Supply	France – Regulated activities	Framatome	United Kingdom	Italy	Other interna- tional	EDF Renewables	Dalkia	Other activities⁽⁵⁾	Inter- segment elimi- nations	Total
Income statement:	Income statement:France – Genera- tion and Supply	Income statement:France – Regulated activities	Income statement:Framatome	Income statement:United Kingdom	Income statement:Italy	Income statement:Other interna- tional	Income statement:EDF Renewables	Income statement:Dalkia	Income statement:Other activities⁽⁵⁾	Income statement:Inter- segment elimi- nations	Income statement:Total
External sales	External sales France – Genera- tion and Supply 46,787	External sales France – Regulated activities 17,888	External sales Framatome 2,099	External sales United Kingdom 16,085	External sales Italy 29,278	External sales Other interna- tional 5,369	External sales EDF Renewables 1,404	External sales Dalkia 5,825	External sales Other activities⁽⁵⁾ 18,741	External sales Inter- segment elimi- nations -	External sales Total 143,476
Inter-segment sales	Inter-segment sales France – Genera- tion and Supply 1,899	Inter-segment sales France – Regulated activities 194	Inter-segment sales Framatome 2,023	Inter-segment sales United Kingdom 13	Inter-segment sales Italy 24	Inter-segment sales Other interna- tional 290	Inter-segment sales EDF Renewables 754	Inter-segment sales Dalkia 838	Inter-segment sales Other activities⁽⁵⁾ 983	Inter-segment sales Inter- segment elimi- nations (7,018)	Inter-segment sales Total -
TOTAL SALES	TOTAL SALESFrance – Genera- tion and Supply48,686	TOTAL SALESFrance – Regulated activities18,082	TOTAL SALESFramatome4,122	TOTAL SALESUnited Kingdom16,098	TOTAL SALESItaly29,302	TOTAL SALESOther interna- tional5,659	TOTAL SALESEDF Renewables2,158	TOTAL SALESDalkia6,663	TOTAL SALESOther activities⁽⁵⁾19,724	TOTAL SALESInter- segment elimi- nations(7,018)	TOTAL SALESTotal143,476
OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATION	OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATIONFrance – Genera- tion and Supply(23,144)	OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATIONFrance – Regulated activities6,723	OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATIONFramatome589	OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATIONUnited Kingdom1,325	OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATIONItaly1,115	OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATIONOther interna- tional336	OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATIONEDF Renewables909	OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATIONDalkia333	OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATIONOther activities⁽⁵⁾7,089	OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATIONInter- segment elimi- nations(261)	OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATIONTotal(4,986)
OPERATING PROFIT	OPERATING PROFITFrance – Genera- tion and Supply(28,739)	OPERATING PROFITFrance – Regulated activities3,142	OPERATING PROFITFramatome271	OPERATING PROFITUnited Kingdom(1,166)	OPERATING PROFITItaly481	OPERATING PROFITOther interna- tional(40)	OPERATING PROFITEDF Renewables179	OPERATING PROFITDalkia120	OPERATING PROFITOther activities⁽⁵⁾6,650	OPERATING PROFITInter- segment elimi- nations(261)	OPERATING PROFITTotal(19,363)
Balance sheet:	Balance sheet:France – Genera- tion and Supply	Balance sheet:France – Regulated activities	Balance sheet:Framatome	Balance sheet:United Kingdom	Balance sheet:Italy	Balance sheet:Other interna- tional	Balance sheet:EDF Renewables	Balance sheet:Dalkia	Balance sheet:Other activities⁽⁵⁾	Balance sheet:Inter- segment elimi- nations	Balance sheet:Total
Goodwill	Goodwill France – Genera- tion and Supply 132	Goodwill France – Regulated activities 223	Goodwill Framatome 1,448	Goodwill United Kingdom 6,541	Goodwill Italy 148	Goodwill Other interna- tional 49	Goodwill EDF Renewables 187	Goodwill Dalkia 643	Goodwill Other activities⁽⁵⁾ 142	Goodwill Inter- segment elimi- nations -	Goodwill Total 9,513
Intangible assets and property, plant and equipment	Intangible assets and property, plant and equipment France – Genera- tion and Supply 61,310	Intangible assets and property, plant and equipment France – Regulated activities 69,070	Intangible assets and property, plant and equipment Framatome 2,894	Intangible assets and property, plant and equipment United Kingdom 26,676	Intangible assets and property, plant and equipment Italy 5,876	Intangible assets and property, plant and equipment Other interna- tional 2,276	Intangible assets and property, plant and equipment EDF Renewables 11,595	Intangible assets and property, plant and equipment Dalkia 2,347	Intangible assets and property, plant and equipment Other activities⁽⁵⁾ 483	Intangible assets and property, plant and equipment Inter- segment elimi- nations -	Intangible assets and property, plant and equipment Total 182,527
Investments in associates and joint ventures ⁽¹⁾	Investments in associates and joint ventures ⁽¹⁾France – Genera- tion and Supply 3,421	Investments in associates and joint ventures ⁽¹⁾France – Regulated activities -	Investments in associates and joint ventures ⁽¹⁾Framatome 84	Investments in associates and joint ventures ⁽¹⁾United Kingdom 180	Investments in associates and joint ventures ⁽¹⁾Italy 234	Investments in associates and joint ventures ⁽¹⁾Other interna- tional 1,965	Investments in associates and joint ventures ⁽¹⁾EDF Renewables 2,519	Investments in associates and joint ventures ⁽¹⁾Dalkia 63	Investments in associates and joint ventures ⁽¹⁾Other activities⁽⁵⁾ 955	Investments in associates and joint ventures ⁽¹⁾Inter- segment elimi- nations -	Investments in associates and joint ventures ⁽¹⁾Total 9,421
Financial assets and cash ⁽²⁾	Financial assets and cash ⁽²⁾France – Genera- tion and Supply 57,926	Financial assets and cash ⁽²⁾France – Regulated activities 450	Financial assets and cash ⁽²⁾Framatome 402	Financial assets and cash ⁽²⁾United Kingdom 15,202	Financial assets and cash ⁽²⁾Italy 1,209	Financial assets and cash ⁽²⁾Other interna- tional 879	Financial assets and cash ⁽²⁾EDF Renewables 2,583	Financial assets and cash ⁽²⁾Dalkia 293	Financial assets and cash ⁽²⁾Other activities⁽⁵⁾ 38,549	Financial assets and cash ⁽²⁾Inter- segment elimi- nations -	Financial assets and cash ⁽²⁾Total 117,493
Other segment assets ⁽³⁾	Other segment assets ⁽³⁾France – Genera- tion and Supply 32,997	Other segment assets ⁽³⁾France – Regulated activities 5,402	Other segment assets ⁽³⁾Framatome 2,156	Other segment assets ⁽³⁾United Kingdom 6,072	Other segment assets ⁽³⁾Italy 5,501	Other segment assets ⁽³⁾Other interna- tional 1,415	Other segment assets ⁽³⁾EDF Renewables 1,127	Other segment assets ⁽³⁾Dalkia 3,311	Other segment assets ⁽³⁾Other activities⁽⁵⁾ 11,047	Other segment assets ⁽³⁾Inter- segment elimi- nations -	Other segment assets ⁽³⁾Total 69,028
Assets classified as held for sale	Assets classified as held for sale France – Genera- tion and Supply -	Assets classified as held for sale France – Regulated activities -	Assets classified as held for sale Framatome -	Assets classified as held for sale United Kingdom -	Assets classified as held for sale Italy 150	Assets classified as held for sale Other interna- tional -	Assets classified as held for sale EDF Renewables -	Assets classified as held for sale Dalkia -	Assets classified as held for sale Other activities⁽⁵⁾ -	Assets classified as held for sale Inter- segment elimi- nations -	Assets classified as held for sale Total 150
TOTAL ASSETS	TOTAL ASSETSFrance – Genera- tion and Supply155,787	TOTAL ASSETSFrance – Regulated activities75,145	TOTAL ASSETSFramatome6,984	TOTAL ASSETSUnited Kingdom54,671	TOTAL ASSETSItaly13,118	TOTAL ASSETSOther interna- tional6,584	TOTAL ASSETSEDF Renewables18,011	TOTAL ASSETSDalkia6,657	TOTAL ASSETSOther activities⁽⁵⁾51,176	TOTAL ASSETSInter- segment elimi- nations-	TOTAL ASSETSTotal388,132
Other information:	Other information:France – Genera- tion and Supply	Other information:France – Regulated activities	Other information:Framatome	Other information:United Kingdom	Other information:Italy	Other information:Other interna- tional	Other information:EDF Renewables	Other information:Dalkia	Other information:Other activities⁽⁵⁾	Other information:Inter- segment elimi- nations	Other information:Total
Net depreciation and amortisation ⁽⁴⁾	Net depreciation and amortisation ⁽⁴⁾France – Genera- tion and Supply (4,552)	Net depreciation and amortisation ⁽⁴⁾France – Regulated activities (3,560)	Net depreciation and amortisation ⁽⁴⁾Framatome (310)	Net depreciation and amortisation ⁽⁴⁾United Kingdom (915)	Net depreciation and amortisation ⁽⁴⁾Italy (480)	Net depreciation and amortisation ⁽⁴⁾Other interna- tional (314)	Net depreciation and amortisation ⁽⁴⁾EDF Renewables (601)	Net depreciation and amortisation ⁽⁴⁾Dalkia (294)	Net depreciation and amortisation ⁽⁴⁾Other activities⁽⁵⁾ (53)	Net depreciation and amortisation ⁽⁴⁾Inter- segment elimi- nations -	Net depreciation and amortisation ⁽⁴⁾Total (11,079)
Impairment	Impairment France – Genera- tion and Supply (4)	Impairment France – Regulated activities (54)	Impairment Framatome (1)	Impairment United Kingdom (1,447)	Impairment Italy (68)	Impairment Other interna- tional (57)	Impairment EDF Renewables (129)	Impairment Dalkia -	Impairment Other activities⁽⁵⁾ (2)	Impairment Inter- segment elimi- nations -	Impairment Total (1,762)
Equity (non-controlling interests)	Equity (non-controlling interests) France – Genera- tion and Supply 117	Equity (non-controlling interests) France – Regulated activities 48	Equity (non-controlling interests) Framatome 63	Equity (non-controlling interests) United Kingdom 9,347	Equity (non-controlling interests) Italy 479	Equity (non-controlling interests) Other interna- tional 558	Equity (non-controlling interests) EDF Renewables 916	Equity (non-controlling interests) Dalkia 225	Equity (non-controlling interests) Other activities⁽⁵⁾ 519	Equity (non-controlling interests) Inter- segment elimi- nations -	Equity (non-controlling interests) Total 12,272
Investments in intangible assets and property, plant and equipment	Investments in intangible assets and property, plant and equipment France – Genera- tion and Supply 5,745	Investments in intangible assets and property, plant and equipment France – Regulated activities 4,739	Investments in intangible assets and property, plant and equipment Framatome 283	Investments in intangible assets and property, plant and equipment United Kingdom 4,541	Investments in intangible assets and property, plant and equipment Italy 560	Investments in intangible assets and property, plant and equipment Other interna- tional 306	Investments in intangible assets and property, plant and equipment EDF Renewables 1,806	Investments in intangible assets and property, plant and equipment Dalkia 319	Investments in intangible assets and property, plant and equipment Other activities⁽⁵⁾ 25	Investments in intangible assets and property, plant and equipment Inter- segment elimi- nations -	Investments in intangible assets and property, plant and equipment Total 18,324
Loans and other financial liabilities	Loans and other financial liabilities France – Genera- tion and Supply 103,476	Loans and other financial liabilities France – Regulated activities 5,270	Loans and other financial liabilities Framatome 326	Loans and other financial liabilities United Kingdom 7,945	Loans and other financial liabilities Italy 1,733	Loans and other financial liabilities Other interna- tional 16,442	Loans and other financial liabilities EDF Renewables 9,694	Loans and other financial liabilities Dalkia 2,467	Loans and other financial liabilities Other activities⁽⁵⁾ 5,251	Loans and other financial liabilities Inter- segment elimi- nations (56,551)	Loans and other financial liabilities Total 96,053
external liabilities	external liabilitiesFrance – Genera- tion and Supply89,547	external liabilitiesFrance – Regulated activities797	external liabilitiesFramatome267	external liabilitiesUnited Kingdom309	external liabilitiesItaly902	external liabilitiesOther interna- tional157	external liabilitiesEDF Renewables3,593	external liabilitiesDalkia347	external liabilitiesOther activities⁽⁵⁾134	external liabilitiesInter- segment elimi- nations-	external liabilitiesTotal96,053
intersegment liabilities ⁽⁶⁾	intersegment liabilities ⁽⁶⁾France – Genera- tion and Supply13,929	intersegment liabilities ⁽⁶⁾France – Regulated activities4,473	intersegment liabilities ⁽⁶⁾Framatome59	intersegment liabilities ⁽⁶⁾United Kingdom7,636	intersegment liabilities ⁽⁶⁾Italy831	intersegment liabilities ⁽⁶⁾Other interna- tional16,285	intersegment liabilities ⁽⁶⁾EDF Renewables6,101	intersegment liabilities ⁽⁶⁾Dalkia2,120	intersegment liabilities ⁽⁶⁾Other activities⁽⁵⁾5,117	intersegment liabilities ⁽⁶⁾Inter- segment elimi- nations(56,551)	intersegment liabilities ⁽⁶⁾Total-

(1) At 31 December 2022, investments in associates and joint ventures include 50.1% of CTE (the joint venture holding RTE’s shares) which is part of the France – Generation and Supply segment.

(2) Financial assets and cash mainly comprise dedicated assets amounting to €27,369 million in the France – Generation and Supply segment (see note 18.1.2), the NLF receivable (see note 18.1.3) amounting to €14,000 million in the United Kingdom segment and the positive fair value of EDF Trading’s derivatives, amounting to €29,861 million (in “Other activities”).

(3) Other segment assets include inventories, trade receivables, other receivables and tax assets.

(4) Including net increases in provisions for renewal of property, plant and equipment operated under concessions.

(5) Sales by the “Other activities” segment include the €7,038 million trading margin realised by EDF Trading.

(6) The amount of intersegment liabilities corresponds to the Group’s centralised cash management (cash pooling by EDF, included in the France – Generation and Supply segment) and financing of controlled subsidiaries, particularly EDF International (Other international segment), EDF Energy (United Kingdom segment) and EDF Trading(in the “Other activities” segment).

Universal Registration Document 2022

Introduction

Note 4 Segment reporting

4.1 Reporting by operating segment

Accounting principles and methods

4.1.1 At 31 December 2022