Bryan Garnier - EDF (ENEL) EDF: 9M 2018 sales up c. 7% yoy, FY 2018 guidance confirmed | NEUTRAL | EUR12

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Bryan Garnier

Pierre-Antoine Chazal

EDF: 9M 2018 sales up c. 7% yoy, FY 2018 guidance confirmed | NEUTRAL | EUR12

EDF - NEUTRAL | EUR12(-23%)
9M 2018 sales up c. 7% yoy, FY 2018 guidance confirmed

9M 2018 sales up 5.3% yoy on an organic basis
FY 2018 EBITDA guidance confirmed, high-end now targeted
Slight update in the FY 2018 nuclear output target
Neutral recommendation confirmed

14/11/2018 3 EN

Underlying

EDF

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Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Analysts

Pierre-Antoine Chazal

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EDF: 9M 2018 sales up c. 7% yoy, FY 2018 guidance confirmed | NEUTRAL | EUR12

EDF - NEUTRAL | EUR UR Q1: flat thanks to favourable electricity price conditions

EDF: First take: good results across the board | NEUTRAL | EUR11,6(-1%)

SECTOR | Cleantech & Energy Transition | The power grid challenged by renewables | Initation of coverage EDF, ENGIE

BIC forced to cut FY25 outlook after a perfect storm in Q1

Dassault Systèmes: not a great start to 2025

BONESUPPORT: Q1 revenue beats, but FX-driven EBIT miss masks solid momentum

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