EDF 2006 Revenue Rose 15% On Higher Power Prices
French state-owned power giant Electricite de France on Wednesday reported a 15% rise in full-year revenue in 2006, due to higher electricity prices throughout Europe.
Revenue rose to 58.93 billion euros ($76.74 billion) last year from 51.05 billion euros ($66.48 billion) in 2005, the company said.
The revenue posted by EDF, which will report full 2006 earnings on Feb. 21, beat the 58.4 billion euros ($76.1 billion) forecast by analysts in a Dow Jones Newswires poll.
Revenue in EDF's core French market rose 6.4% to 31.93 billion euros ($41.58 billion), the company said, while revenue in the rest of Europe jumped 37% to 24.88 billion euros ($32.4 billion).