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Engie 2019 Net Result Flat, Revenues Up; Sees Higher NRIgs Ahead

Natural gas and electricity supplier Engie (ENGQF.PK,ENGIY.PK) reported Thursday that its fiscal 2019 net result, Group Share was 1 billion euros, same as last year.

Net recurring income Group share or NRIgs grew 9.3 percent to 2.7 billion euros.

Current operating income increased 11.1 percent to 5.7 billion euros from 5.2 billion euros last year. EBITDA grew 6.8 percent to 10.4 billion euros from prior year's 9.7 billion euros.

Revenues for the year increased 5.4 percent to 60.1 billion euros from 57.0 billion euros last year. Organic growth was 4.1 percent. Adjusted revenues were 64.1 billion euros, up 5.8 percent on a reported basis and up 4.7 percent organically.

Further, for fiscal year 2019, the company will propose to the AGM to increase the dividend to 0.80 euro per share, up 7 percent from last year.

Looking ahead, the company expects 2020 NRIgs to be between 2.7 billion euros and 2.9 billion euros.

For 2022, ENGIE anticipates a NRIgs CAGR in the range of 6-8 percent, to reach between 3.2 billion euros and 3.4 billion euros.

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