French state-controlled power giant Electricite de France SA (EDF.FR) Thursday said revenue in the first nine months of the year grew 2.7%, boosted by higher nuclear output and that its full-year guidance was unchanged.

The group expects 2011 earnings before interest, tax, depreciation and amortization, or Ebitda, to grow 4%- 6% on an organic basis and sees a dividend at least equivalent to that of 2010. EDF also forecasts the 2011 ratio of net financial debt/Ebitda between 2.1 and 2.3.

EDF's revenue in the first nine months of the year amounted to EUR47.15 billion, from EUR45.9 billion a year earlier, adjusted to exclude the group's French grid unit RTE, as well as divestitures such as Germany's ENBW, networks and the Eggborough plant in the U.K. The group also restated its 2010 figure at EUR47.2 billion, to take into account the impact of the application of the IFRS 5 accounting rule and the change in presentation of SPE's optimization activities.

EDF's French nuclear output in the period grew 5.7% to 315 terawatt-hours, while its U.K. nuclear output grew 25.7% to 44 TWh.

Such a performance allows the group to adjust and increase its production target from 411-418 TWh to 415-420 TWh and the corresponding availability factor, knwon as "Kd" between 79% and 80% from a previous estimate of 78.5%, EDF said.

EDF earlier decided to delay the construction of four planned nuclear reactors in the U.K., instead taking time to evaluate the consequences of delays at a reactor under construction in Flamanville, northern France and the consequences of the Fukushima Daiichi nuclear disaster in Japan. EDF will release a new calendar for the project during in the autumn.

EDF had been due to start building the first of the planned U.K.-based nuclear rectors in 2013.

EDF also reiterated that along with Italian utility A2A SpA (A2A.MI) and investment vehicle Delmi, it agreed to extend a shareholder pact for Edison until Nov. 30. It said talks over EDF taking control of Edison are continuing, pending an opinion on EDF's tender offer for the remaining stake from Italy's stock market regulator Consob.

EDF currently holds about 50% of Edison directly and indirectly, but has been pushing for more direct control following a series of costly natural gas contracts that have marred Edison's financial performance. Edison is 61.3%-held by Transalpina di Energia, itself 50%-held by EDF and 50% by Italian shareholder Delmi, which in turn is led by A2A.

The French state owns around 83% in EDF.

Since the start of the year, shares in EDF have shed around 33%, after the Fukushima accident triggered worries about additional safety costs for nuclear plants and doubts over EDF's prospects as an international nuclear builder and operator. Shares closed Wednesday at EUR20.69.

-By Geraldine Amiel, Dow Jones Newswires; +33 1 40171767; geraldine.amiel@dowjones.com

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