PARIS: First-half core earnings at French state-controlled utility EDF jumped nearly 18 per cent to 8.23 billion euros ($9.6 billion) as hydropower and nuclear energy output rebounded, and EDF also slightly increased its 2018 earnings guidance.EDF said the earnings improvement was driven mainly by a sharp increase in its French nuclear and hydropower generation business and by higher wholesale power prices.
Sales rose 5.6 per cent to 35.18 billion euros, while EBIT (earnings before interest and tax) fell 6 percent to 3.65 billion euros.
The company's recurring net income rose 27 per cent to 1.74 billion euros while net income fell 13.9 per cent to 1.73 billion euros.
A ThomsonReuters poll of four analysts had forecast core earnings before interest, tax, depreciation and amortisation (EBITDA) of 7.82 billion euros, EBIT of 3.45 billion euros and current net income of 1.26 billion euros.
EDF increased its earnings guidance for 2018 core earnings to 14.8-15.3 billion euros.