Bloomberg News

Edf First-Half Profit Rises 6.2% on French Reactor Production

July 29, 2011

July 29 (Bloomberg) -- Electricite de France SA, Europe’s biggest power generator, said first-half profit rose 6.2 percent after domestic nuclear output surged to a record, making up for poor hydroelectric production amid the spring drought.

Earnings before interest, taxes, depreciation and amortization rose to 8.62 billion euros ($12.36 billion) on a like-for-like basis, EDF said today in a statement. That was in line with the 8.58 billion-euro median estimate of 10 analysts surveyed by Bloomberg. Like-for-like net income climbed to 2.55 billion euros from a restated 1.7 billion euros a year earlier.

The French utility reiterated 2011 financial targets and added some through 2015 including 4 percent to 6 percent average annual ebitda growth and 5 percent to 10 percent increase in recurring net income.

To contact the editor responsible for this story: Vidya Root at vroot@bloomberg.net


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