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UK, Italy weigh on EDF first-quarter sales, 2017 outlook confirmed
May 9, 2017 / 4:23 PM / 8 months ago

UK, Italy weigh on EDF first-quarter sales, 2017 outlook confirmed

PARIS (Reuters) - The weaker pound and a lower sales volumes in Italy contributed to a 1.5 percent slide in French utility EDF’s first-quarter sales, the company said on Tuesday.

FILE PHOTO: The logo of France's state-owned electricity company EDF is seen on the company's headquarters in Paris, France, November 24, 2016. REUTERS/Charles Platiau

Corrected from foreign-exchange and scope impact, first-quarter sales were unchanged at 21.13 billion euros ($23 billion).

UK sales were down 12.3 percent to 2.57 billion euros, while Italian sales were down 10.3 percent to 2.80 billion euros. French sales from generation and supply were up 1.7 percent to 11.35 billion euros, while French sales from regulated activities were up 1.6 percent to 4.86 billion euros.

The company confirmed its 2017 targets for nuclear output of 390 to 400 terrawatthours and core earnings before interest, tax, depreciation and amortisation (EBITDA) between 13.7 and 14.3 billion euros.

Reporting by Geert De Clercq; Editing by Mathieu Rosemain

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