- Q1 2010 sales: EUR 21.9 billion, +4.3%
- 2010 organic EBITDA growth target of 3% to 5%1 confirmed
EDF Group Sales for the first three months of the financial year amounted to EUR 21.9 billion, up 4.3% compared to Q1 2009. This growth is due to a positive scope effect of EUR 1 billion, consisting primarily of the acquisitions in November 2009 of SPE in Belgium and 49.99% of Constellation Energy Group (CEG) nuclear assets in the United States. The 1.6% decline in sales at constant scope and exchange rates reflected an unfavourable price effect on International gas and electricity sales, whereas France benefited from weather effect.
In light of the trends observed in Q1, EDF confirms its financial objectives for 2010:
- 2010 organic EBIDTA growth of 3% to 5%1
- Net debt/EBITDA of 2.5 to 3
- Stable dividend compared to 2009
Henri Proglio, EDF Chairman and CEO, stated: "In a context of lower prices, which indeed negatively impacted International Sales, the Group experienced a favourable evolution of its operational results outside France.
In light of these trends and of the assigned objective to improve the French nuclear fleet's performance, which is a priority for EDF, the Group is able to confirm its objective of 3% to 5% of EBITDA's organic growth in 2010."
More information in the press release.
The EDF Group, one of the leaders in the energy market in Europe, is an integrated energy company active in all businesses: generation, transmission, distribution, energy supply and trading. The Group is the leading electricity producer in Europe. In France, it has mainly nuclear and hydraulic production facilities where 95% of the electricity output involves no CO2 emissions. EDF's transport and distribution subsidiaries in France operate 1,285,000 km of low and medium voltage overhead and underground electricity lines and around 100,000 km of high and very high voltage networks. The Group is involved in supplying energy and services to around 38 million customers around the world, including close to 28 million in France. The Group generated consolidated sales of €66.3 billion in 2009, of which 49% in Europe excluding France. EDF is listed on the Paris Stock Exchange and is a member of the CAC 40 index.Press contact
+33 (0)1 40 42 46 37 (24D/7J)
François Molho +33 (1) 40 42 25 90 Analyst and Investor Contacts :
Carine de Boissezon +33 (1) 40 42 45 32
& David Newhouse +33 (1) 40 42 32 45