EDF: Sales up sharply over 9 months with nuclear power and prices – Boursorama

PARIS (Reuters) – EDF on Wednesday published an organic increase in turnover of 15.7% for the first nine months of 2021, thanks to the progression of its nuclear production in France in a context of high prices, and has confirmed all of its objectives.

This publication comes the day after Emmanuel Macron’s announcement of the relaunch of the construction of nuclear reactors in France. However, the Head of State did not give details on the number of reactors envisaged, nor on their financing.

EDF, in which the State holds 83.8% of the capital, is still targeting for 2021 a profit before taxes, financial charges, depreciation and amortization (EBITDA) above 17.7 billion euros and net financial debt on EBITDA below 2.8 times.

The group, which saw the government put its reorganization project on hold in July, also reaffirmed its ambitions for 2022, particularly in terms of lower costs and disposals.

EDF recorded sales of 57.1 billion euros at the end of September, with French nuclear production of 268 terawatt-hours (TWh), up 27.0 TWh compared to the first nine months of 2020.

“This development is linked to less modulations in a context of high market prices and better availability of the nuclear fleet in 2021,” he said in a press release.

(Report Benjamin Mallet; edited by Blandine Hénault)