November 13, 2017
EDF shares -10% after reduced EBITDA guidance
© Reuters. EDF shares -10% after reduced EBITDA guidance
- Electricite de France (OTCPK:ECIFF, OTCPK:ECIFY) tumbles 10% in European trading after the utility company cuts its 2018 financial targets as it faces “unfavorable developments” in France and the U.K.
- EDF (PA:EDF) says it still expects a “significant rebound” in EBITDA at €14.6B-€15.3B, but its previous target was for at least €15.2B.
- The company cites several headwinds, including “the expected erosion of electricity consumption in France,” the “lower availability of some nuclear reactors at the beginning of 2018” and “the drop in the capacity compensation” in the U.K.
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