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EDF scraps cash flow goal on nuclear outages, shares slump

Reuters  |  PARIS 

By Geert De ClercqPARIS (Reuters) - EDF dropped on Monday a pledge to report positive cash flow in 2018 after delays in its plans to restart nuclear reactors, sending the French utility's shares down 13 percent.EDF, 83 percent owned by the state, has for years borrowed to pay dividends to a cash-strapped government, racking up net financial debt of 31 billion euros. To break the cycle, former CEO Henri Proglio had in 2013 pledged to return to positive cash flow after dividend payment in 2018. His successor Jean-Bernard Levy confirmed the target in 2014 and this was repeated as recently as ...

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First Published: Mon, November 13 2017. 20:30 IST