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Utility EDF’s sales up 6.9 pct so far this year

November 7, 2013

PARIS (AP) — State-controlled utility Electricite de France says revenue grew 6.9 percent in the first nine months of the year, driven in part by cold weather and higher tariffs in France.

The nuclear giant said Thursday that sales rose to 55.2 billion euros ($74.6 billion) in the period to Sept. 30. In France, which accounts for about half of EDF’s revenue, sales were up 3.1 percent, amid colder weather than last year. A tariff increase added 500 million euros to revenue.

The figures were also boosted by sales in Italy, which now fully reflect EDF’s takeover of electricity producer Edison.

The company maintained its goal of increasing operating profit by at least 3 percent on an organic basis, excluding Edison. That would be a drop from the 4.6 percent achieved last year.

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