French state-controlled utility EDF expressed caution about its 2019 outlook, saying there was no guarantee that it could repeat the double-digit earnings growth seen last year. EDF forecast core earnings of 15.3 to 16 billion euros (14.1 billion pounds), below forecasts for about 16 billion and with the low end of the forecast range only just above last year’s 15.25 billion. “We are not sure that some of the positive elements in our 2018 will be repeated in 2019, notably the very strong hydropower output, which depends on rain and snow levels,” EDF CEO Jean-Bernard Levy told reporters on a call. He also said its 2018 trading results were above what can be expected in a normal year and that it was not sure they could be repeated in 2019, but added that wholesale power prices should be slightly higher this year.
Reuters 14th Feb 2019 read more »