Friday 19 January 2018

Utility firm EDF's sales up 6.9%

EDF says revenue grew 6.9% in the first nine months of the year
EDF says revenue grew 6.9% in the first nine months of the year

French utility firm EDF says revenue grew 6.9% in the first nine months of the year, driven in part by cold weather and higher tariffs in its domestic market.

State-controlled Electricite de France said sales rose to 55.2 billion euro (£46.4 billion) in the period to September 30.

In France, which accounts for about half of EDF's revenue, sales were up 3.1% amid colder weather than last year. A tariff increase added 500 million euros (£420 million) to revenue.

The figures were also boosted by sales in Italy, which now fully reflect EDF's takeover of electricity producer Edison.

The company maintained its goal of increasing operating profit by at least 3% on an organic basis, excluding Edison. That would be a drop from 4.6% last year.

Press Association

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