French power group EDF sees 2020 earnings at lower end of forecasts

PARIS (Reuters) – French state-controlled power group EDF (PA:) said on Monday that it was currently forecasting 2020 core earnings at the lower end of forecasts, as the company deals with the impact of the coronavirus outbreak.

EDF said disruption to production caused by employees having to stay away from worksites meant EDF would be lowering its previous 2020 target of 375-390 terawatt hours (TWh) of nuclear production in France. It added that it was keeping its 2020 target for core earnings of 17.5-18 billion euros ($18.7-$19.3 billion), although this was expected to come in at the lower end of that range.

EDF added it had the financial and operationalcapacity to deliver the necessary power in all scenarios currently contemplated in France.

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