Posted Jan 10, 2023, 5:29 PM
Issues of Investing without a word on EDF were infrequent in 2022! We spoke very early about the abysmal losses that its new CEO, Luc Rémont, will be responsible for commenting on soon. Unlike Engie, the group has been greatly penalized by soaring electricity prices, due to the unavailability of the French nuclear fleet and the obligation imposed on it to resell power at very low prices. price to its competitors. To strengthen (a little) a balance sheet where the debt was to explode following these colossal losses, a capital increase of 3.1 billion euros was carried out in March, at 6.35 € per share, at which the State shareholder (83.7% of the capital) contributed 2.7 billion.
The EDF share would undoubtedly have continued to vegetate around €8 and offered a disappointing performance last year, instead of posting a gain of 21.5%, if the reference shareholder had not decided to withdraw the stock market energy company. In her general policy speech on July 6, the Prime Minister, Elisabeth Borne, announced “the State’s intention to hold 100% of EDF’s capital”. The case did not drag on: a draft simplified takeover bid (OPAs) at a price of €12 was quickly unveiled and then filed on October 4 with the Autorité des marchés financiers (AMF), with a view to to complete this public offer and the squeeze-out by the end of 2022.