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EDF reports profitable 2011

Electricite de France SA’s (EDF) net profit surged in 2011, on the back of a favorable basis for comparison as well as higher nuclear output.

The Wall Street Journal reports that the company expects its 2012 performance to be in line with its medium-term forecasts, although the year will be marked with many uncertainties as the outcome of the presidential election in spring could impact the group’s strategy.

In 2011, EDF’s net profit jumped to €3.01bn ($3.93bn) from a reported €1bn a year earlier, with analysts polled by FactSet having expected €3.41bn.

Earnings before interest, tax, depreciation and amortization, or Ebitda, last year dropped 10.8 per cent to €14.82bn from a reported €16.62bn a year earlier. Adjusted to take into account divestitures over 2010, the group’s 2010 net profit was at €3.1bn and Ebitda was at €14.16bn.

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