logo
Plus   Neg
Share
Email

Engie Q1 Current Operating Income, Revenue Down - Quick Facts

Natural gas and electricity supplier Engie SA (ENGQF.PK,ENGIY.PK) reported Tuesday that its first-quarter current operating income or COI was 1.9 billion euros, down 6.6 percent from last year's 2 billion euros. COI fell 2.1 percent organically, but organic growth was 2.1 percent excluding the impact of warmer French temperatures on volumes and contributions of Networks and Supply.

EBITDA dropped 1.8 percent to 3.1 billion euros from last year. Organically, EBITDA grew 1.4 percent while the organic growth was 4 percent excluding temperature in France.

Revenues declined 3.7 percent to 16.5 billion euros from last year's 17.1 billion euros. Organically also, revenues fell 3.7 percent.

Revenues were hurt by temperature effects affecting Supply in France and across Europe, as well as gas distribution in France. This decrease was also the result of the first Covid-19 effects, mainly in Client Solutions, particularly in France.

Looking ahead, ENGIE said it will update its forward financial outlook in due course amid the Covid-19 pandemic.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amazon's much-awaited Prime Day shopping event will take place in mid-October, according to multiple reports. The annual sale event will reportedly kick off in the U.S. on Tuesday, October 13. Amazon Prime Day, the company's biggest, global shopping event of the year, is usually held in the U.S. in mid-July. However, the e-commerce giant confirmed in July that it is delaying this year's event. Walmart Foundation, Cargill and McDonald's said they will invest more than $6 million in a million-acre grazing initiative to help restore grasslands and address the issue of climate change. The initiative, led by the World Bank, aims to make lasting improvements to the grasslands of the Northern Great Plains. The new program is known as the Ranch Systems and Viability Planning or RSVP network. Shell International Petroleum Co. Ltd. and Microsoft Corp. formed a strategic alliance to develop new solutions to achieve net-zero emissions. The alliance will support Shell's ambition to be a net-zero emissions energy business by 2050. Meanwhile, Shell's supply of renewable energy to Microsoft is expected to help it deliver on its renewable energy supply goals.
Follow RTT