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    EDF   FR0010242511

ELECTRICITÉ DE FRANCE

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Electricite de France : EDF CEO says in-depth reform still key to group's future

09/04/2021 | 06:42pm EDT
French state-controlled utility EDF Chief Executive Jean-Bernard Levy attends a news conference at the Bercy Finance Ministry in Paris

PARIS (Reuters) - An in-depth reform of French power group EDF < EDF.PA> remains key to the future of the state-backed utility, whose overhaul has been delayed by the French government, CEO Jean-Bernard Levy said on Sunday.

EDF must accelerate its development in the nuclear sector and in renewable energy in response to climate change and demand from its customers for carbon-free energy, Levy also told French weekly Le Journal Du Dimanche.

The reform of EDF, involving a broad restructuring of the group and the mechanism through which it sells nuclear power, was supposed to help debt-laden EDF flourish as it competes with rivals investing in clean energy.

While EDF's short-term future is secured thanks to strong first half results and higher electricity prices during the second half,"in medium and long term an in-depth reform remains vital, otherwise EDF cannot remain a top league player," Levy said.

Despite backing from President Emmanuel Macron, who came to power in 2017 and tasked EDF bosses with designing the outline for a new group structure, the overhaul has been caught in wrangling with the European Commission and has come under fire from unions.

(Reporting by Dominique Vidalon; Editing by Alistair Bell)


© Reuters 2021
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Analyst Recommendations on ELECTRICITÉ DE FRANCE
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Financials
Sales 2021 73 501 M 85 344 M 85 344 M
Net income 2021 4 313 M 5 008 M 5 008 M
Net Debt 2021 50 981 M 59 196 M 59 196 M
P/E ratio 2021 9,49x
Yield 2021 4,33%
Capitalization 39 462 M 45 791 M 45 821 M
EV / Sales 2021 1,23x
EV / Sales 2022 1,17x
Nbr of Employees 161 203
Free-Float 14,9%
Chart ELECTRICITÉ DE FRANCE
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Electricité de France Technical Analysis Chart | EDF | FR0010242511 | MarketScreener
Technical analysis trends ELECTRICITÉ DE FRANCE
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 17
Last Close Price 12,50 €
Average target price 14,95 €
Spread / Average Target 19,6%
EPS Revisions
Managers and Directors
Jean-Bernard Lévy Chairman & Chief Executive Officer
Xavier Rene Louise Girre Executive Director-Finance
Christophe Salomon Group Chief Information Officer
Laurence Parisot Independent Director
Claire Pédini Independent Director
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ELECTRICITÉ DE FRANCE-2.48%46 055
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E.ON SE17.01%32 081
PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED6.54%31 401