EDF 2019 Profit Jumps
14 Février 2020 - 8:44AM
Dow Jones News
By Giulia Petroni
Electricite de France SA said Friday that 2019 profit jumped as
the bond and equity markets performance last year led to a positive
change in the fair value of some assets.
The state-controlled French utility company said net profit for
2019 was 5.2 billion euros ($5.65 billion) compared with EUR1.18
billion a year earlier. The company attributed the rise mainly to
positive change in fair value of a portfolio of dedicated assets
worth EUR3.5 billion.
Sales rose to EUR71.32 billion from EUR68.55 billion the
previous year, the company said.
Analysts had forecast net profit of EUR2.67 billion on sales of
EUR70.74 billion, according to a consensus compiled by FactSet.
EDF Renewables' sales were up 2.9% on year on an organic
basis.
Earnings before interest, taxes, depreciation and amortization
rose to EUR16.71 billion from EUR14.9 billion in 2018 thanks to
better price conditions in France and in the U.K., as well as a
strong performance in EDF Renewables, the company said.
Looking at 2020, EDF said it expects Ebitda at between EUR17.5
billion and EUR18 billion and total net investments--excluding
acquisitions and 2019-2020 disposals--of about EUR15.5 billion a
year.
The group said it proposed a dividend of EUR0.48 a share for
2019.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
February 14, 2020 02:29 ET (07:29 GMT)
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