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
    1.3641-0.005-0.36%
    USDSGD=X
    1.5078-0.0111-0.73%
    EURSGD=X
    2.1287-0.0016-0.07%
    GBPSGD=X
    90.5959+0.5659+0.63%
    SGDJPY=X
    5.6821+0.0206+0.36%
    SGDHKD=X
    2.7881-0.0019-0.07%
    SGDMYR=X
    9,858.9961+13.8379+0.14%
    SGDIDR=X
    4.5523+0.0153+0.34%
    SGDCNY=X
    0.9995+0.0045+0.45%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,094.90-1.70-0.16%
    GCV15.CMX
    14.69+0.03+0.24%
    SIZ15.CMX
    47.60+0.94+2.00%
    ^XAU
    2.43+0.05+2.25%
    HGG16.CMX
    47.75+0.36+0.76%
    CLU15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.59+0.01
    ^FVX
    2.25+0.02
    ^TNX
    2.96+0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.595-0.025-4.03%
    N21.SI
    0.34-0.02-5.56%
    E5H.SI
    0.315+0.005+1.61%
    5WA.SI
    0.33-0.01-2.94%
    Y35.SI
    1.27-0.05-3.42%
    BS6.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.19+0.02+11.11%
    F9M.SI
    0.375+0.035+10.29%
    K1Q.SI
    0.26+0.02+8.33%
    C50.SI
    0.215+0.015+7.50%
    5OY.SI
    0.215+0.015+7.50%
    B69.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.455-0.095-17.27%
    5I3.SI
    0.255-0.045-15.00%
    Y06.SI
    0.27-0.03-11.48%
    CZ4.SI
    0.28-0.03-9.68%
    UQ4.SI
    0.26-0.03-8.77%
    PA3.SI