EDF: 4.6 percent growth in core profit in 2012

French energy giant EDF posts 4.6 percent growth in core profit in 2012

Associated Press

PARIS (AP) -- French electricity giant EDF says its core profit rose 4.6 percent last year behind solid organic growth in Italy and its home market and growing demand for nuclear power in Britain, and despite a tough economic climate.

Electricite de France, one of Europe's leading energy companies, said Thursday that earnings before interest, taxes, depreciation and amortization climbed to €16.08 billion, from €14.94 billion a year earlier. EBIT fell 2.4 percent to €8.25 billion.

The company said its EDF Energie unit posted its best nuclear production in seven years in Britain.

Overall, revenues rose 11.4 percent to €72.73 billion.

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