Financial analysis edf sa (electricite de france) produces, transmits, distributes, imports and exports electricity. the company, using nuclear power, coal and gas, provides electricity for french energy consumers
Similar to Financial analysis edf sa (electricite de france) produces, transmits, distributes, imports and exports electricity. the company, using nuclear power, coal and gas, provides electricity for french energy consumers
Deutsche EuroShop | Conference Call Presentation - Quarterly Statement 3M 2018Deutsche EuroShop AG
Similar to Financial analysis edf sa (electricite de france) produces, transmits, distributes, imports and exports electricity. the company, using nuclear power, coal and gas, provides electricity for french energy consumers (20)
8447779800, Low rate Call girls in Saket Delhi NCR
Financial analysis edf sa (electricite de france) produces, transmits, distributes, imports and exports electricity. the company, using nuclear power, coal and gas, provides electricity for french energy consumers
1. 03.05.2013
Ticker: Electricite de France SA Benchmark:
Currency: EN Paris: EDF, Currency: EUR CAC 40 INDEX (CAC)
Sector: Utilities Industry: Electric Utilities Year:
Telephone 33-1-40-42-22-22 Revenue (M) Business Segments in EUR Sales (M) Geographic Segments in EUR Sales (M)
Website www.edf.fr No of Employees Generation Supply 54594 France 39120
Address 22-30 Avenue de Wagram Paris Cedex 08, 75382 France Distribution 14625 Italy 10098
Share Price Performance in EUR Other 4073 United Kingdom 9739
Price 17.80 1M Return 16.4% Eliminations -563 Other International 7976
52 Week High 17.89 6M Return 12.6% Transmission Other Activities 5796
52 Week Low 12.86 52 Wk Return 18.1% Integrated Utilities Germany
52 Wk Beta 0.82 YTD Return 27.3%
Credit Ratings
Bloomberg IG8
S&P A+ Date 17.01.2012 Outlook STABLE
Moody's Aa3 Date 14.01.2009 Outlook NEG
Fitch A+ Date 07.01.2009 Outlook STABLE
Valuation Ratios
12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E
P/E 21.1x 89.1x 11.1x 7.8x 10.2x 9.3x 8.5x
EV/EBIT 13.3x 15.1x 9.2x 9.7x - - -
EV/EBITDA 7.7x 6.0x 5.1x 5.1x 5.0x 4.7x 4.5x
P/S 1.3x 0.9x 0.5x 0.4x 0.4x 0.4x 0.4x
P/B 2.6x 1.8x 1.2x 1.0x 1.0x 1.0x 1.0x
Div Yield 2.8% 3.7% 6.1% 8.2% 6.6% 6.6% 6.8%
Profitability Ratios %
12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E
Gross Margin - - - - 20.7 21.7 -
EBITDA Margin 27.2 24.0 21.6 19.7 21.7 22.4 22.7
Operating Margin 15.7 9.6 12.0 10.3 11.8 12.5 12.6
Profit Margin 6.6 1.6 4.8 4.6 4.5 4.8 5.0
Return on Assets 1.8 0.4 1.3 1.4 2.7 2.8 1.9
Return on Equity 14.7 3.3 10.5 12.2 10.9 10.9 10.9
Leverage and Coverage Ratios
12/09 12/10 12/11 12/12
Current Ratio 1.1 1.3 1.3 1.2 Current Capitalization in EUR
Quick Ratio 0.7 0.8 0.8 0.8 Common Shares Outstanding (M) 1846.7
EBIT/Interest 3.4 2.3 3.4 3.1 Market Capitalization (M) 32909.8
Tot Debt/Capital 0.6 0.6 0.6 0.7 Cash and ST Investments (M) #N/A N/A
Tot Debt/Equity 1.8 1.4 1.7 2.1 Total Debt (M) #N/A N/A
Eff Tax Rate % 27.5 55.4 28.3 30.8 Preferred Equity (M) 0.0
LT Investments in Affiliate Companies (M) 0.0
Investments (M) 0.0
Enterprise Value (M)
EDF SA (Electricite de France) produces, transmits, distributes, imports and exports
electricity. The Company, using nuclear power, coal and gas, provides electricity for
French energy consumers.
EDF FP
72'729
154'730
Company Analysis - Overview
73%
20%
6% 1%
Generation Supply Distribution
Other Eliminations
54%
14%
13%
11%
8%
France
Italy
United Kingdom
Other International
Other Activities
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
2. Electricite de France SA
Target price in EUR
Date Buy Hold Sell Date Price Target Price Broker Analyst Recommendation Target Date
30-Apr-13 29% 38% 33% 3-May-13 17.80 15.78 Morgan Stanley EMMANUEL TURPIN Overwt/In-Line 19.00 3-May-13
29-Mar-13 29% 38% 33% 2-May-13 17.24 15.78 Societe Generale VINCENT AYRAL buy 20.00 2-May-13
28-Feb-13 25% 42% 33% 1-May-13 16.97 15.78 Raymond James EMMANUEL RETIF underperform 12.90 2-May-13
31-Jan-13 23% 36% 41% 30-Apr-13 16.97 15.73 Bryan Garnier & Cie JULIEN DESMARETZ sell 12.00 2-May-13
31-Dec-12 30% 45% 25% 29-Apr-13 16.83 15.72 AlphaValue MYRIAM COHEN reduce 16.50 2-May-13
30-Nov-12 20% 50% 30% 26-Apr-13 16.28 15.72 Deutsche Bank MARTIN BROUGH sell 12.50 1-May-13
31-Oct-12 38% 38% 24% 25-Apr-13 16.44 15.78 JPMorgan VINCENT DE BLIC overweight 20.00 1-May-13
28-Sep-12 43% 35% 22% 24-Apr-13 16.35 15.78 S&P Capital IQ CLIVE ROBERTS sell 15.00 1-May-13
31-Aug-12 42% 42% 17% 23-Apr-13 16.28 15.78 Exane BNP Paribas BENJAMIN LEYRE outperform 20.00 1-May-13
31-Jul-12 46% 46% 8% 22-Apr-13 15.90 15.78 Barclays JULIE ARAV underweight 13.00 1-May-13
29-Jun-12 48% 48% 4% 19-Apr-13 15.77 15.78 Goldman Sachs ANDREW MEAD neutral/neutral 18.40 26-Apr-13
31-May-12 46% 50% 4% 18-Apr-13 15.54 16.08 Credit Suisse MICHEL DEBS underperform 12.00 18-Apr-13
17-Apr-13 15.57 16.33 Day by Day VALERIE GASTALDY buy 18.25 10-Apr-13
16-Apr-13 15.76 16.32 HSBC ADAM DICKENS neutral 17.00 5-Apr-13
15-Apr-13 16.17 16.32 Macquarie SHAI HILL outperform 19.00 21-Mar-13
12-Apr-13 16.16 16.32 EVA Dimensions AUSTIN BURKETT hold 25-Feb-13
11-Apr-13 16.33 16.07 Landesbank Baden-Wuerttemberg ERKAN AYCICEK hold 16.50 15-Feb-13
10-Apr-13 16.37 16.07 Kepler Capital Markets INGO BECKER reduce 13.00 15-Feb-13
9-Apr-13 15.78 16.07 Natixis PHILIPPE OURPATIAN neutral 16.20 15-Feb-13
8-Apr-13 15.54 16.07 Berenberg Bank TEAM COVERAGE hold 14.60 5-Feb-13
5-Apr-13 15.57 15.87 Main First Bank AG ANDREAS THIELEN underperform 15.50 29-Jan-13
4-Apr-13 15.59 15.81 DZ Bank AG HASIM SENGUEL buy 33.00 15-Nov-11
3-Apr-13 15.29 15.81
2-Apr-13 15.42 15.98
1-Apr-13 14.96 15.98
29-Mar-13 14.96 15.98
28-Mar-13 14.96 15.98
27-Mar-13 15.07 15.98
26-Mar-13 15.31 15.98
25-Mar-13 14.95 15.98
Company Analysis - Analysts Ratings
Buy and Sell Recommendations vs Price and Target Price
46% 48% 46% 42% 43%
38%
20%
30%
23% 25% 29% 29%
50% 48%
46%
42% 35%
38%
50%
45%
36%
42% 38% 38%
4% 4% 8%
17%
22% 24%
30%
25%
41%
33% 33% 33%
0%
20%
40%
60%
80%
100%
mai.12 juin.12 juil.12 août.12 sept.12 oct.12 nov.12 déc.12 janv.13 févr.13 mars.13 avr.13
BrokerRecommendation
0
5
10
15
20
25
30
Price
Buy Hold Sell Price Target Price
Brokers' Target Price
0
5
10
15
20
25
30
35
MorganStanley
SocieteGenerale
RaymondJames
BryanGarnier&Cie
AlphaValue
DeutscheBank
JPMorgan
S&PCapitalIQ
ExaneBNPParibas
Barclays
GoldmanSachs
CreditSuisse
DaybyDay
HSBC
Macquarie
EVADimensions
LandesbankBaden-
Wuerttemberg
KeplerCapitalMarkets
Natixis
BerenbergBank
MainFirstBankAG
DZBankAG
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
3. 03.05.2013
Electricite de France SA
Ownership Statistics Geographic Ownership Distribution
Shares Outstanding (M) 1846.7 France 98.25%
Float 15.5% United States 1.03%
Short Interest (M) Luxembourg 0.26%
Short Interest as % of Float Britain 0.09%
Days to Cover Shorts Ireland 0.08%
Institutional Ownership 86.59% Spain 0.06%
Retail Ownership 13.41% Germany 0.05%
Insider Ownership 0.00% Others 0.18%
Institutional Ownership Distribution
Government 97.60%
Investment Advisor 2.39%
Insurance Company 0.01%
Unclassified 0.00%
Pricing data is in EUR Others 0.00%
Top 20 Owners:
Holder Name Position Position Change Market Value % of Ownership Report Date Source Country
FRENCH STATE 1'561'222'705 0 27'789'764'149 84.44% 31.12.2011 Co File FRANCE
THORNBURG INVESTMENT 3'709'100 -650'900 66'021'980 0.20% 28.02.2013 MF-AGG UNITED STATES
NATIXIS ASSET MANAGE 3'302'225 -33'501 58'779'605 0.18% 28.03.2013 MF-AGG FRANCE
ALLIANCE BERNSTEIN 2'491'094 939'663 44'341'473 0.13% 31.03.2013 ULT-AGG UNITED STATES
VANGUARD GROUP INC 2'448'957 61'552 43'591'435 0.13% 31.03.2013 MF-AGG UNITED STATES
ING INTERNATIONAL AD 2'303'862 353'730 41'008'744 0.12% 31.01.2013 MF-AGG LUXEMBOURG
BLACKROCK 2'283'398 6'376 40'644'484 0.12% 01.05.2013 ULT-AGG UNITED STATES
NUVEEN ASSET MANAGEM 1'830'103 -118'251 32'575'833 0.10% 31.03.2013 MF-AGG UNITED STATES
AVIVA PLC 1'574'700 0 28'029'660 0.09% 28.03.2013 MF-AGG BRITAIN
ELECTRICITE DE FRANC 1'175'594 0 20'925'573 0.06% 31.12.2011 Co File FRANCE
JP MORGAN 1'035'558 63'472 18'432'932 0.06% 31.03.2013 ULT-AGG
AMUNDI 910'947 5'886 16'214'857 0.05% 31.12.2012 MF-AGG FRANCE
AMUNDI 828'591 0 14'748'920 0.04% 31.12.2012 MF-AGG FRANCE
STATE STREET 816'508 -13'911 14'533'842 0.04% 02.05.2013 ULT-AGG UNITED STATES
FMR LLC 674'534 13'561 12'006'705 0.04% 31.03.2013 ULT-AGG UNITED STATES
BANK OF NEW YORK MEL 669'306 0 11'913'647 0.04% 01.05.2013 MF-AGG UNITED STATES
SANFORD C BERNSTEIN 656'530 0 11'686'234 0.04% 30.11.2012 MF-AGG UNITED STATES
AGICAM 644'691 0 11'475'500 0.03% 28.02.2013 MF-AGG FRANCE
ROTHSCHILD & COMPAGN 640'000 0 11'392'000 0.03% 31.01.2013 MF-AGG FRANCE
TAUBE HODSON STONEX 610'970 0 10'875'266 0.03% 31.01.2013 MF-AGG BRITAIN
Top 5 Insiders:
Holder Name Position Position Change Market Value % of Ownership Report Date Source
GRILLAT ALEXANDRE 328 5'838 0.00% 31.12.2011 Co File
CROUZET PHILIPPE 200 3'560 0.00% 31.12.2011 Co File
JAY MICHAEL 200 3'560 0.00% 31.12.2011 Co File
LAFONT BRUNO 150 2'670 0.00% 31.12.2011 Co File
FAUGERE MIREILLE 106 1'887 0.00% 31.12.2011 Co File
Company Analysis - Ownership
Ownership Type
87%
13%
0%
Institutional Ownership Retail Ownership Insider Ownership
Geographic Ownership
99%
0%
0% 0%0% 0%0%
1%
France United States Luxembourg Britain
Ireland Spain Germany Others
Institutional Ownership
98%
0% 0%
0%
2%
Government Investment Advisor Insurance Company
Unclassified Others
TOP 20 ALL
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |