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Engie Q1 EBITDA Up 3%; Affirms FY18 Outlook - Quick Facts

Engie, formerly called GDF Suez, (GDSZF.PK,GDFZY.PK), a natural gas and electricity supplier, reported that its first-quarter EBITDA, a key earnings metric, rose 3.0 percent to 3.2 billion euros from 3.1 billion euros in the year-ago period. EBITDA rose 6.0 percent on an organic basis.

Current operating income reached 2.2 billion euros, up 3.1 percent on a gross basis and 5.7 percent on an organic basis.

Revenues for the quarter rose 1.2 percent to 17.5 billion euros from 17.3 billion euros last year. Revenues grew 3.0 percent on an organic basis.

The growth in revenue reflects strong increase in renewable power generation in France and in Belgium, by the increase of gas and electricity sales in the retail segment in France, by the commissioning of assets in Latin America and by the favorable temperature impact for gas distribution in France. It is also driven by recent acquisitions.

Further, the company confirmed its 2018 financial targets. The company projects net recurring income Group share between 2.45 euros and 2.65 billion euros, and a dividend of 0.75 euros per share in cash, for fiscal 2018.

by RTTNews Staff Writer

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