Tuesday , November 24 2020

Engie launches earnings warning for Ebitda



"Slightly below the indicative range": Engie Ebitda is not expected to reach the previously announced goal.

Engie

gives its results nine months this Wednesday. And in general, he confirms his goals for the 2018 set, in any case, for the recurring share of net income – but that will be at the bottom of the series – and the net debt / Ebitda ratio as well as the dividend.

However, this confirmation, according to Engie, is based in particular on the case of the re-launch of the Belgian nuclear units "according to the calendar". Now, remember, some uncertainty weighs on restarting 1 and 2 dollars.

Furthermore, Engie warns of his Ebitda, now planning slightly lower with the initial mark of 9.3 to 9.7 billion.

Engie states that it confirms that "a recurring net profit attributable to the Group ranges between € 2.45 and € 2.65 billion, it is expected to be at the bottom of the series. This target is based in particular on the case of the resumption of Belgian nuclear units. with the REMIT diary published to date and a slightly lower Ebitda than the original mark of 9.3 to 9.7 billion that was put on the market on March 8, 2018. "

"Repairs to the Belgian nuclear reactor Doel 1 are over, the restart scheduled for December" said Paulo Almirante, Engie's business manager, during a videoconference.

• In the first nine months of the year, the energy group experienced a fall of EBITDA of 0.3% to 6.5 billion euros, while the problems in Belgium were largely offset by other activities.

• Turnover reached € 43 billion (+ 0.4%). Current operating revenues are stable at € 3.5 billion.

• The net debt is $ 20.6 billion, under $ 1.9 billion from the end of 2017.

"Engie has shown steady growth since the beginning of the year, with the exception of nuclear activities in Belgium, which offset the economic impact of the non-availability of the Belgian nuclear fleet, which will have to gradually recover its availability rates. in the efforts of our teams, ENGIE continues to grow in its major strategic activities, particularly in the production of low-CO2 electricity, infrastructure and customer solutions. " (Isabelle Kocher, Director-General of Engie)


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