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EdF 2019 Profit Surges, Sales Up

French electric utility EDF (EDFEF.PK) reported Friday that its net income, Group share, rose more than four folds for the full year, with 4 percent growth in sales. Sales grew 3.5 percent organically during the year.

The Group's net income, group share, for the year surged to 5.15 billion euros from last year's 1.18 billion euros. The results reflected the positive change in fair value of the portfolio of dedicated assets. Excluding non-recurring items, net income was up 57.9 percent to 3.87 billion euros.

EBITDA for the period rose more than 12 percent to 16.7 billion euros, as the Group benefitted from better price conditions in France and the United Kingdom and a strong performance from EDF Renewables.

EdF's sales for the full year increased 4 percent to 71.3 billion euros. The Group noted that its results for the last year were restated.

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