EDF: Q1 sales up 61% organically
(CercleFinance.com) - EDF has announced strong 61% organic sales growth for Q1 2022, driven by electricity and gas prices in a context of high wholesale prices, as well as the sound performance of EDF Trading.
However, increased sales will have only a limited impact on EBITDA. In addition, the decline in nuclear production will penalise EBITDA, due to the purchases required on the wholesale markets in a context of sharp rises in prices, the group warned.
Nuclear production in France stood at 91.7 TWh, or 7.5 TWh less than in the same period in 2021, due to lower availability of the fleet, mainly because of the impact of the discovery of stress corrosion indications.
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However, increased sales will have only a limited impact on EBITDA. In addition, the decline in nuclear production will penalise EBITDA, due to the purchases required on the wholesale markets in a context of sharp rises in prices, the group warned.
Nuclear production in France stood at 91.7 TWh, or 7.5 TWh less than in the same period in 2021, due to lower availability of the fleet, mainly because of the impact of the discovery of stress corrosion indications.
Copyright (c) 2022 CercleFinance.com. All rights reserved.