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EDF expecting 2019 EBITDA to show modest to flat growth

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Paris-based EDF reported 2018 EBITDA of €15.3 billion, an organic 11% increase from 2017, although the utility giant disappointed observers with a conservative FY19 outlook of €15.3-16.0 billion. Market consensus was around €16.0 billion in 2019 and did not expect the possibility of flat earnings. While EVP of finance Xavier Girre said EDF is “very confident” of continued earnings growth during an earnings conference call on Feb. 15, the outlook downplayed the hydro segment and EDF Trading, which had unusually strong 2018.......
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