November 13, 2017 / 7:54 AM / a month ago

France's EDF sets new 2018 EBITDA target

PARIS, Nov 13 (Reuters) - French state-controlled power utility EDF said on Monday it was setting a new target for Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA).

EDF cited an expected increase in nuclear and hydro output in France, a rise in wholesale power prices in Europe and the good execution of its plan to reduce operating expemditures.

EDF said it was setting a new EBITDA target for 2018 of beteeen 14.6 billion euros and 15.3 billion euros which would compare with a previous target of at least 15.2 billion euros.

Reporting by Dominique Vidalon; Editing by Geert De Clercq

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