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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.

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