Renewables help France’s EDF beat expectations in 2019
PARIS: French state-controlled utility EDF said on Friday its 2019 core-earnings beat expectations, up 12.1% year-on-year boosted by better price conditions in Britain and France, and a strong performance from its renewables energy division.
The utility said 2019 revenue rose 4% to 71.3 billion euros ($77.3 billion) and core earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 12.1% to 16.7 billion euros.
EDF’s 2019 group share net profit was at 5.2 billion euros compared with 1.1 billion euros in 2018.
A Refinitiv poll of analysts expected EDF’s average net profit group share at 3.0 billion euros, and EBITDA of 16.3 billion, while turnover was seen at 70.9 billion.
