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EDF Reports 47% Drop in Profit Amid French, U.S. Nuclear Delays

Electricite de France SA, Europe’s biggest power generator, reported a 47 percent drop in first-half profit after making a provision on nuclear development in the U.S. because of financing delays.

Net income was 1.7 billion euros ($2.2 billion) in the first half compared with 3.1 billion euros the previous year, EDF said in a statement today. That missed the 2.52 billion euro median estimate of nine analysts surveyed by Bloomberg. Earnings before interest, tax, depreciation and amortization rose 4 percent to 10.4 billion euros, EDF said. The estimate was for 10 billion euros.