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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 Jump on Restructuring Plan, Nuclear-Price Reform News

11/27/2020 | 09:55am EST

By Giulia Petroni

Electricite de France SA's shares jumped on Friday following media reports that the French government is set to reach an agreement with European Commission regulators on the company's restructuring plan and a reform of nuclear-energy prices in France.

At 1420GMT, shares traded 9.4% higher at EUR12.80.

After several months of negotiations, the French government is reportedly close to ratifying EDF's "Project Hercules" plan, according to French media outlets.

Under the agreement, EDF would be reorganized around three divisions--EDF Green, EDF Blue and EDF Azur, French newspaper Liberation reported. A third of the capital of the "green" activities would be listed, while EDF Azur, the hydropower unit, would become a subsidiary of EDF Blue, which includes nuclear.

French business paper Les Echos, however, reported that the plan is still under review and that other options are on the table.

Liberation also reported that the French government would reform the Arenh regime, which currently allows energy suppliers to secure nuclear power from EDF at fixed prices. The reform would increase the price of electricity resold by EDF to its competitors.

"In the scenario of a green/blue restructuring in combination with regulated price of EUR45-EUR50/MWh, we see 20-40% of upside," analysts at Jefferies said.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

11-27-20 0954ET

Stocks mentioned in the article
ChangeLast1st jan.
ELECTRICITÉ DE FRANCE 1.85% 12.37 Real-time Quote.-4.07%
ENGIE 0.70% 13.58 Real-time Quote.8.47%
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Financials
Sales 2020 70 613 M 85 725 M 85 725 M
Net income 2020 1 590 M 1 930 M 1 930 M
Net Debt 2020 45 413 M 55 132 M 55 132 M
P/E ratio 2020 25,2x
Yield 2020 1,63%
Capitalization 38 286 M 46 407 M 46 479 M
EV / Sales 2020 1,19x
EV / Sales 2021 1,22x
Nbr of Employees 161 522
Free-Float 14,8%
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Technical analysis trends ELECTRICITÉ DE FRANCE
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TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 14,18 €
Last Close Price 12,37 €
Spread / Highest target 65,7%
Spread / Average Target 14,6%
Spread / Lowest Target -34,5%
EPS Revisions
Managers and Directors
NameTitle
Jean-Bernard Lévy Chairman & Chief Executive Officer
Xavier Rene Louise Girre Executive Director-Finance
Christophe Salomon Group Chief Information Officer
Jacky Chorin Director
Jean-Paul Rignac Director
Sector and Competitors
1st jan.Capitalization (M$)
ELECTRICITÉ DE FRANCE-4.07%45 398
NEXTERA ENERGY6.34%160 722
ENEL S.P.A.3.73%105 378
IBERDROLA, S.A.1.62%87 981
ORSTED A/S-6.47%79 313
DUKE ENERGY CORPORATION0.60%67 789