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France's EDF reports 17% drop in first-half profit

France's EDF reports 17% drop in first-half profit

Reuters4 days ago
PARIS, July 24 (Reuters) - France's EDF posted a 17% drop in first-half core profit on Thursday, after low European power prices eroded earnings from higher nuclear power output.
The state-owned utility said earnings before interest, taxes, depreciation and amortisation (EBITDA) for the six months to end-June came to 15.5 billion euros ($18.24 billion), down from 18.7 billion a year earlier.
Net debt stood at 50 billion euros, down from the 54.3 billion euros recorded at the end of last year.
($1 = 0.8498 euros)
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