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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Electricité de France    EDF   FR0010242511

ELECTRICITÉ DE FRANCE

(EDF)
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Electricite de France : EDF Shares Drop After Anomalies Found in Nuclear Reactor Components

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09/10/2019 | 04:50am EDT

By Olivia Bugault and Max Bernhard

French utility Electricite de France SA (EDF.FR) shares plunged on Tuesday morning after its majority-owned business Framatome found anomalies in its manufacturing of nuclear-reactor components.

At 0816 GMT, shares in EDF were down almost 6.6% at 10.14 euros ($11.18), the biggest loser on France's SBF 120 index.

EDF said the anomalies concern components that are currently in service as well as ones which haven't yet been installed, and that it has been conducting in-depth investigations to identify affected parts and reactors and to "ascertain their fitness for service."

An EDF spokesman declined to provide the names of the plants impacted by the anomalies. The shut down of a nuclear reactor is an option but not the preferred one, he said.

EDF, which is largely owned by the French state, said it informed France's nuclear regulatory authority of its initial investigations on Monday.

The company has had problems with a number of its nuclear reactors recently. Last year, it suspended operations at its Hunterston B plant in the U.K. after engineers discovered cracks in some of the reactors' graphite cores. The plant was approved to restart operations last month. In July, EDF pushed back the planned completion date for a nuclear plant in Flamanville in the north of France by another three years after finding problems with the welds inside the reactor. The plant was initially due for completion in 2012.

Write to Olivia Bugault at olivia.bugault@dowjones.com and Max Bernhard at max.bernhard@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
ELECTRICITÉ DE FRANCE 0.70% 10.865 Real-time Quote.-21.81%
ENGIE 1.26% 14.45 Real-time Quote.13.93%
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Financials (EUR)
Sales 2019 70 647 M
EBIT 2019 6 511 M
Net income 2019 2 688 M
Debt 2019 40 721 M
Yield 2019 3,09%
P/E ratio 2019 15,4x
P/E ratio 2020 11,5x
EV / Sales2019 1,05x
EV / Sales2020 1,04x
Capitalization 33 108 M
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Technical analysis trends ELECTRICITÉ DE FRANCE
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 14,51  €
Last Close Price 10,87  €
Spread / Highest target 84,1%
Spread / Average Target 33,6%
Spread / Lowest Target 10,4%
EPS Revisions
Managers
NameTitle
Jean-Bernard Lévy Chairman & Chief Executive Officer
Xavier Rene Louise Girre Senior Executive Vice President-Group Finance
Christophe Salomon Head-Information Systems
Bruno Lafont Director
Jacky Chorin Director
Sector and Competitors
1st jan.Capitalization (M$)
ELECTRICITÉ DE FRANCE-21.81%36 335
ORSTED AS44.82%39 219
SEMPRA ENERGY30.15%38 659
ENGIE13.93%38 027
NATIONAL GRID PLC11.38%36 975
PPL CORPORATION11.33%22 780