French power utility EDF has reported an overall 20.6% increase in sales for the first nine months of the year, totaling E42.8 billion compared to E35.5 billion the previous year.
An increase in prices in France and the UK, as well as the integration of Italian power firm Edison, have been responsible for the surge in sales, the company said.
Pierre Gadonneix, chairman and CEO of EDF, said: The growth in group sales at September 30, 2006 has been particularly buoyant within the European subsidiaries. The performance confirms our strategic choices, particularly the refocusing on Europe.
Third quarter UK sales advanced by 29% to E1.7 billion. German sales increased by 27% to E1.4 billion, driven by higher electricity and gas prices. French sales only saw a 7.4% increase to E6.5 billion.
EDF shares saw little change rising by one cent to E47.62 following the news. The total increase in shares for this current year has, however, increased by a total of 49%, valuing the company at E86.7 billion.