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EDF: stock sees big recovery in 2018

(CercleFinance.com) - Having risen by over 30% since the start of 2018, the share of public electro-nuclear power group EDF is the second highest riser in the SBF 120 index in Paris, which itself has fallen by 13%.

The EDF share has hence outperformed its index massively, having once again reached a market capitalisation of 40 billion euros.

Organic sales growth accelerated from +4% in H1 2018 to +5.3% over the first nine months. H1 EBITDA increased by around 18% to 8.2 billion euros, and after 13.7 billion euros in 2017, EDF targets between 14.8 billion and 15.3 billion euros for FY 2018, at comparable exchange rates and in a "normal" climate.

Although EDF's net debt is massive (31.3 billion euros), it has fallen by 1.7 billion euros over the first six months of the year and then represented only 2.1 times its annual EBITDA, a relatively low figure in absolute terms for this sector. It is also lower than the group's target of 2.5 times.

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