EDF Shares Jump Following 2019 Results
14 Febbraio 2020 - 11:35AM
Dow Jones News
By Giulia Petroni
Electricite de France SA's shares jumped on Friday after
full-year results beat expectations.
The French state-controlled utility posted strong earnings
across all main divisions, with earnings before interest, taxes,
depreciation and amortization rising to EUR16.71 billion from
EUR14.9 billion the previous year.
At 1000 GMT, shares traded 8.5% higher at EUR12.74.
In particular, Ebitda in France and the U.K. came in
respectively 4% and 21% above expectations, Bryan Garnier says.
"Both divisions benefited from better price conditions that
offset the decline in nuclear generation and poor hydropower
conditions in France," analysts at the investment bank say.
Net income for the year was boosted by a positive change in fair
value of a portfolio of dedicated assets, the French company said,
while net income excluding nonrecurring items benefited from a good
operating performance and a lower drop in discount rates.
"These good results led to an attractive proposed dividend of
EUR0.48 a share compared to EUR0.31 a share last year," Bryan
Garnier says.
Write to Giulia Petroni at giulia.petroni@dowjones.com
(END) Dow Jones Newswires
February 14, 2020 05:20 ET (10:20 GMT)
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