Top Stories
Top Stories
Wires

EDF Q1 sales boosted by higher power prices, energy services

PARIS, May 14 (Reuters) - French state-owned utility EDF said first-quarter sales rose 2.5 percent to 20.97 billion euros ($23.6 billion) due to higher power prices and in spite of lower French nuclear and hydropower output.

Favourable market conditions in French power generation, the growth of energy services activities and a strong performance by EDF Trading all boosted sales, but UK revenue fell 2.9 percent to 2.5 billion euros due to extended nuclear reactor outages.

The company confirmed its guidance for 2019 core earnings.

It published a new 2019 target for core earnings of 16.0 to 16.7 billion euros, updated for the IFRS 16 accounting standard. An EDF spokesman said this was exactly the same as the forecast for 15.3 billion to 16 billion euros published in February.

($1 = 0.8898 euros) (Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta)