EDF Says Favorable Natural Gas Pricing Lifts Revenue
05 November 2015 - 6:34PM
Dow Jones News
By Inti Landauro
PARIS--French state-controlled power utility Electricite de
France SA (EDF.FR) said Thursday that its overall revenue in the
third quarter was lifted mainly by its gas trading operations.
The company's overall revenue rose 2.8% to 53.8 billion euros
($58.4 billion) from EUR52.3 billion in the same period last year.
Seven analysts polled by the company expected a median revenue of
EUR53.6 billion.
The company said its revenue from other activities, which
include its gas trading operations, jumped 70% to EUR4.65 billion
during the period. EDF didn't provide detailed data about gas
trading profitability, but said the business benefited from a
positive weather impact and the optimization of storage
facilities.
The company said its revenue in France, its largest market, fell
to EUR28.7 billion from EUR29.12 billion, though it attributed the
decline to a EUR921 million price adjustment booked in 2014 on 2012
sales.
The company reiterated it expects its earnings before interest,
taxes, depreciation and amortization to rise between 0% and 3% and
for the ratio of financial to Ebitda to be between 2 and 2.5.
-Write to Inti Landauro at inti.landauro@wsj.com
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(END) Dow Jones Newswires
November 05, 2015 02:19 ET (07:19 GMT)
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