Engie Backs View After Infrastructures Business Drives Earnings Growth
French power utility Engie confirmed its full-year guidance after earnings were boosted by its infrastructures business.
The company said Thursday that earnings before interest and taxes excluding nuclear power–a key company metric–rose 2.1% on an organic basis to 3.7 billion euros ($4.13 billion).
Engie said the rise was mainly attributable to a better performance in its infrastructures business. Within the division, EBIT from networks activities rose organically by 69% but declined organically by 19% for local energy infrastructures due to the normalization of market prices, which was expected, it said.
Earnings before interest, taxes, depreciation and amortization were unchanged from the year prior at 5.4 billion euros.
Revenue increased 5.6% to 23.3 billion euros, while cash flow from operations–a measure of cash generated from normal business operations–declined 22% to 4 billion euros.
For 2025, the company continues to expect net recurring income group share between 4.4 billion and 5 billion euros as well as EBIT excluding earnings from nuclear power between 8 billion and 9 billion euros.
Write to Adam Whittaker at adam.whittaker@wsj.com
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