2012 Activity and sustainable development report - RTE

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1FINANCIAL INDICATORSSALESin millions of eurosEBITDAin millions of eurosOPERATING INCOMEin millions of euros4,396 4,229 4,5291,526 1,364 1,610 885 730 96310 11 12Sales rose 7%, benefi ting from the cold spell in February,growth in transit through interconnections and tariff risesapplied in August 2011 and 2012.10 11 1210 11 12L’EBITDA rose 18% and operating income 32%, chiefl y as a result of increased sales.NET INCOMEin millions of euros368 272 407INVESTMENTS 2in millions of euros1,167 1,172 1,363NET INDEBTEDNESSin millions of euros6,331 6,578 6,87510 11 12Financial income stood at €303 million, up €1 million.Corporate income rose by €99million to €254million.Net income thus rose by €135million.10 11 12Regulated investments rose 17% to €1,357 million:€1,232 million for network installations, of which 30%renewals, €66million for information systems and€59million for logistics.10 11 12At the end of 2012, net financial debt consistedof loans totalling €7,419million and cash at €544million.FINANCIAL PROFITABILITY(ROE)7.9% 5.9% 8.5%ECONOMIC PROFITABILITY(ROCE)7.4% 6.0% 7.7%DEBT-TO-EQUITY RATIO(GEARING)1.36 1.42 1.4410 11 12ROE is calculated as a ratio of RTE’s net income toconsolidated shareholders’ equity at 31 December.10 11 12ROCE is calculated on the basis of the regulated scopeas a ratio of net income to economic assets.10 11 12At year-end 2012, fi nancial indebtedness stood at€6,875million and shareholders’ equity at €4,786 million.80
2012 IN FIGURESCONSOLIDATED INCOME STATEMENTSIN THOUSANDS OF EUROS 2012 2011 3Sales 4,529,254 4,229,045Energy purchases (641,977) (679,304)Other external expenses (1,020,865) (982,597)Personnel expenses (785,527) (746,362)Taxes other than income taxes (453,558) (441,341)Other operating income and expenses (16,975) (15,546)Operating profit before depreciation and amortisation 1,610,352 1,363,896Net depreciation and amortisation (647,833) (634,225)Operating profit 962,519 729,670Cost of gross fi nancial indebtedness (268,948) (280,328)Discount expense (38,194) (35,893)Other fi nancial income and expenses 4,249 11,904Financial result (302,893) (304,317)Consolidated profit before tax 659,626 425,353Income taxes (254,271) (155,167)Share in income of associates 1,293 1,334Group net income 406,649 271,521net income attributable to non-controlling interests 0 0RTE net income 406,649 271,521Earnings per share (RTE share) in euros 1.91 1.271. Figures for the RTE Group comply with IFRS, except for the return on capital employed which is calculated based on the parent company RTE’s individual financial statements underFrench GAAP. 2. Investments net disposals Group scope as at 31/12/12. 3. Data published with respect to the 2011 financial year has been restated for impact linked to the changeof accounting method of actuarial gains and losses relating to post-retirement benefit obligations.RTE | IN LINE WITH THE FUTURE81
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ACTIVITY ANDSUSTAINABLE DEVELOPMENT
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PROFILERTE transports electricity b
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MOVING TOWARDS ENERGY TRANSITIONThe
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MOVING TOWARDS ENERGY TRANSITIONWHA
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UNE RTE ORGANISATION CHANGING REPEN
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INTERVIEW WITH DOMINIQUE MAILLARDDo
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INTERVIEW WITH DOMINIQUE MAILLARD
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THE WORLD IS CHANGING, G, SO IS RTE
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A NEW-LOOK ORGANISATIONA NEW- LOOKO
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A NEW-LOOK ORGANISATIONAt the centr
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A NEW-LOOK ORGANISATIONOperating a
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A NEED NEW STYLE FOR INNOVATIONOF C
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A NEW STYLE OF CUSTOMER RELATIONScl
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2012 Activity and sustainable development report - RTE

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