EDF Confirms its Financial Targets; French Election Outcome Raises Hope and Questions
We are maintaining our EUR 8.90 per share fair value estimate and stable, no-moat ratings for Electricite de France after the group reported flat sales in the first quarter and reaffirmed its 2017 and 2018 guidance.ÂIn 2017, the group targets an EBITDA of EUR 13.7 billion to EUR 14.3 billion, in line with our EUR 14.2 billion estimate. Regarding nuclear production, the group reiterated its 390-400 terawatt-hour target despite the 5% decrease at the end of April. Achieving the middle of the rang...
Electricite de France is an integrated energy company with a presence in a range of electricity-related businesses: nuclear, renewable and fossil-fuel fired energy production, transmission, distribution, marketing as well as energy management and efficiency services, along with energy trading. Co. is an integrated energy company engaged in all aspects of the energy business: generation, transmission, distribution, supply and trading of energies. Co. is an electricity operator in France and abroad. The breakdown used by Co. for its activities is as follows: France; United Kingdom; Italy; Other International; and Other activities.
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