The group’s operating profit fell by 9.5% to E5.91 billion in the first half of 2008, compared to E6.53 billion in the first half of 2007. EDF’s earnings before before interest, taxes, depreciation and amortization (EBITDA) grew 3.9% by to E9.04 billion in the first half of 2008 from E8.86 billion in the first half of 2007.
The group’s sales in France were up 8% at E17.8 billion for the first half of 2008, compared to the same period of 2007, as a result of growth in end-consumer sales volumes, and price and tariff evolution.
EDF’s international sales were up 10.3% at E14.4 billion for the first half of 2008, while EBITDA for international operations grew by 9.2% to E3 billion. In France, the group’s EBITDA for the first half of 2008 totaled E6.1 billion, an increase of 1.3% compared to the same period of the previous year.
The group’s capital expenditure, which totaled E4.1 billion, was higher both in France and internationally. The bulk of the investments were focused on networks, maintenance of the generation fleet and the development of new generation capacities including fossil-fired power stations and the Flamanville European pressurized reactor (EPR) in France.
Investment in new generation projects included the development of thermal capacity in the UK, global wind power generation capacities and the initial investments for a new EPR reactor in the US.
