EDF said Tuesday that Group sales for the first nine months of 2012 stood at €52 billion, up 10.2% compared to the same period in 2011, of which 6.6% was organic growth.
Sales in France, which accounted for 54% of 9M 2012 sales, recorded organic growth of 4.5%. This growth was mainly attributable to higher volumes sold as well as price and tariff increases, as the weather was colder compared with the same period last year.
Business outside of France accounted for 46% of the Group’s sales in the first nine months of 2012. This includes Italy where the effects of fully consolidating Edison since end-May 2012 contributed €1.1 billion. Organic growth of 9.4% generated outside of France was driven by Edison and the development of EDF Energies Nouvelles.
EDF said it is continuing its efforts to resolve the question of the CSPE deficit before 31 December 2012.
Against this backdrop and given performance during the first nine months of 2012, EDF said it is reiterating its 2012 guidance: Organic growth of EBITDA of between 4% and 6%; Growth of net income excluding non-recurring items of between 5% and 10%; Net financial debt/EBITDA less than 2.5x; and dividend for 2012 at least stable compared with 2011.