Economy 2019 net profit inflated by financial elements

2019 net profit inflated by financial elements

-

Jean-Bernard Lévy can display his satisfaction. EDF saw its net profit multiplied by more than four in 2019, inflated in financial terms linked to the good performance of the financial markets, the electrician announced on Friday 14 February. Net profit thus reached 5.2 billion euros, against 1.2 billion a year earlier, he said in a statement. The group benefited from the positive change in fair value of its dedicated assets, which are intended to cover the costs of nuclear dismantling and waste management.

On a more operational level, its gross operating surplus (Ebitda) increased for its part by 12% to 16.7 billion euros, at the top of the group’s forecasts and above analysts’ expectations, driven by good price conditions and its activity in renewable energies.

This is despite the decline in nuclear production in France and the United Kingdom, as well as a drop in French hydraulic production. “Our performance in 2019 confirms and prolongs the rebound recorded in 2018: indeed all of our financial objectives have been met, we are a profitable group”, greeted the CEO of EDF, Jean-Bernard Lévy, during a conference call.

Most Recommended Web hosting

World News : archywordys.com

Net profit expected to increase in 2020

Net financial debt, for its part, jumped from 33.4 billion at the end of 2018 to 41.1 billion at the end of 2019, due to the application of accounting standards but also to investments in nuclear power in the United Kingdom and for deployment of Linky smart meters.

For 2020, EDF is counting on growing Ebitda, in a range of 17.5 to 18 billion euros. Nuclear production in France is expected to range from 375 to 390 TWh, which may correspond to a slight drop or an increase compared to 379.5 TWh achieved in 2019.

.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest news

Börse Express – ANALYZE-FLASH: DZ Bank lowers fair value for Deutsche Post

DZ Bank has fair value for the German postal service after a withdrawn forecast and preliminary quarterly figures reduced from...

A respirator to rescue Corona patients from … Mercedes Formula 1

<div id = "firstBodyDiv" style = "box-sizing: border-box; font: inherit; backface-visibility: visible! important; -webkit-font-smoothing: antialiased! important; margin: 0px; padding:...

News – Justice | Christian Quesada released by his lawyer

The Quesada affair was retained for the hearing of the correctional court of Bourg-en-Bresse, this Wednesday April...

The corona figures of April 8: 2,248 people have died so far

AccountabilityThe number of patients in intensive care is reported daily by the National Patient Distribution Coordination Center (LCPS) in...

Security agents with little protection against the Covid-19

A security guard at the Gare du Nord train station in Paris on April 1, 2020. FRANCK...

Must read

You might also likeRELATED
Recommended to you