EDF: 5 percent growth in net profit in 2012

French energy giant EDF posts 5 percent growth in net profit in 2012

PARIS (AP) -- French electricity giant EDF said Thursday its net profit rose 5 percent last year behind solid organic growth in Italy and its home market and growing demand for nuclear power in Britain, and despite a tough economic climate.

Electricite de France, one of Europe's leading energy companies, reported net profit rose to €3.32 billion ($4.48 billion), up from €3.15 billion a year earlier in the period. Revenues rose 11.4 percent to €72.73 billion.

EDF said earnings before interest, taxes, depreciation and amortization posted 4.6 percent organic growth to €16.08 billion — nearly two-thirds of that total in France alone. However, EBIT fell 2.4 percent to €8.25 billion. The EDF Energie unit posted its best nuclear production in seven years in Britain, the company said.

EDF also announced plans to cut about €1 billion in costs in 2013, notably through a 5 percent reduction in external purchases.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.1280.0000.00%
    N21.SI
    1.865-0.030-1.58%
    MC0.SI
    0.300.000.00%
    5OT.SI
    0.58-0.01-1.69%
    5TP.SI
    2.85+0.03+1.06%
    C52.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.285+0.055+23.91%
    BLU.SI
    0.36+0.07+22.03%
    BPF.SI
    0.192+0.030+18.52%
    AYD.SI
    0.40+0.05+14.29%
    BFK.SI
    0.39+0.04+11.43%
    43A.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.20-0.06-24.53%
    40D.SI
    0.28-0.07-20.00%
    5VP.SI
    0.39-0.06-13.33%
    AYB.SI
    0.335-0.035-9.46%
    AYV.SI
    0.24-0.02-9.43%
    BAZ.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3521-0.0009-0.07%
    USDSGD=X
    1.5276+0.0009+0.06%
    EURSGD=X
    1.7868+0.0025+0.14%
    GBPSGD=X
    74.2840+0.039+0.05%
    SGDJPY=X
    5.7337+0.0055+0.10%
    SGDHKD=X
    2.9706+0.0066+0.22%
    SGDMYR=X
    9,784.7686-33.8164-0.34%
    SGDIDR=X
    4.9272+0.0069+0.14%
    SGDCNY=X
    1.0320+0.0014+0.14%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,327.40+2.80+0.21%
    GCZ16.CMX
    18.59+0.10+0.55%
    SIU16.CMX
    96.51+1.17+1.23%
    ^XAU
    2.09+0.02+0.72%
    HGU16.CMX
    47.20-0.13-0.27%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.16+0.01
    ^FVX
    1.58+0.02
    ^TNX
    2.26+0.02
    ^TYX