June 26, 2017 / 6:21 AM / in 2 months

France's Areva NP eyes higher sales, profits in next five years - report

PARIS (Reuters) - Areva NP, the nuclear reactor business company in which EDF (EDF.PA) is in the process of buying a majority stake, is eyeing a sharp rise in sales and profits over the next five years, Les Echos newspaper reported.

Les Echos cited a document on Areva NP's strategic plans from now until 2021, which said the company was eyeing sales to rise by 50 percent from now to reach 4.8 billion euros (£4 billion) by 2021.

It added that Areva NP was also targetting earnings before interest, tax, depreciation and amortisation (EBITDA) of 600 million euros by 2021, up from 95 million euros last year.

French state-owned power group EDF is currently in the process of buying a majority stake in Areva NP, following a restructuring of French nuclear group Areva.

Officials at Areva NP could not be immediately reached for comment.

Reporting by Sudip Kar-Gupta and Pascale Denis; Editing by Vyas Mohan

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