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 Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3816+0.0014+0.10%
    USDSGD=X
    1.5394+0.0052+0.34%
    EURSGD=X
    2.0224+0.0062+0.31%
    GBPSGD=X
    80.4370+0.4522+0.57%
    SGDJPY=X
    5.6234-0.0038-0.07%
    SGDHKD=X
    2.9772+0.0127+0.43%
    SGDMYR=X
    9,866.8975+27.3789+0.28%
    SGDIDR=X
    4.7672+0.01+0.21%
    SGDCNY=X
    0.9927+0.002+0.20%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,207.40-15.30-1.25%
    GCQ16.CMX
    16.01-0.33-2.01%
    SIN16.CMX
    79.41-2.71-3.31%
    ^XAU
    2.10-0.01-0.29%
    HGN16.CMX
    49.60+0.12+0.24%
    CLN16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.39+0.04
    ^FVX
    1.85+0.03
    ^TNX
    2.65+0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.28-0.03-8.20%
    N21.SI
    0.76+0.02+3.40%
    G13.SI
    0.143+0.005+3.62%
    5DM.SI
    0.79+0.05+6.76%
    5HJ.SI
    3.90-0.03-0.76%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.29+0.04+16.00%
    5VI.SI
    0.275+0.030+12.24%
    BAZ.SI
    0.375+0.040+11.94%
    F03.SI
    0.505+0.050+10.99%
    BJE.SI
    1.30+0.12+10.64%
    BDV.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.19-0.06-24.00%
    580.SI
    0.14-0.02-11.39%
    5WJ.SI
    0.28-0.03-8.20%
    N21.SI
    0.10-0.01-7.41%
    AWO.SI
    0.335-0.025-6.94%
    BFU.SI