Report
Anis Zgaya ...
  • Louis Boujard, CFA
  • Philippe Ourpatian

EDF : 2019 guidance secure, rebound in earnings expected in 2020

>9M sales broadly in line with our forecasts - EDF reported 9M sales of € 50.9bn (+2.9% l-f-l) vs our forecast of € 50.7bn. Note the favourable showing from the generation and supply business in France which came to € 20.08bn (+5.7% l-f-l) vs the forecast of € 19.9bn, thanks to the good performance in H1 and the increase in regulated tariffs as of 1 June. All of the other businesses were in line with our forecasts (see details on page 2) with the exception of other ac...
Underlying
Electricite de France SA

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Anis Zgaya

Louis Boujard, CFA

Philippe Ourpatian

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