PARIS, Feb 18 (Reuters) - French power group EDF on Thursday posted falling profits for 2020, when the COVID-19 pandemic hit electricity demand and dragged on revenues.
The group said that net profit came in at 2 billion euros ($2.41 billion), down 49% from a year earlier. The profit figure excluded one-off items including tax litigation in France and some costs linked to its Flamanville 3 plant.
Revenues reached 69 billion euros for the full year, down 3.4% from 2019 and below the average of 70.5 billion euros forecast in a Refinitiv poll of analysts.
Earnings before interest, taxes, depreciation and amortisation (Ebitda) exceeded expectations of 15.9 billion euros, at 16.2 billion euros, a 2.7% drop from 2019.
$1 = 0.8304 euros Reporting by Sarah White and Benjamin Mallet; Editing by Christian Schmollinger