ENGIE 9-month Current Operating Income Declines; Confirms FY20 Guidance - Quick Facts

ENGIE (ENGQF.PK,ENGIY.PK) reported current operating income of 2.8 billion euros for the nine month period, a decrease of 27.9% on a reported basis and 24.3% on an organic basis from prior year. EBITDA was 6.2 billion euros, a decline of 13.0% on a gross basis and 9.7% on an organic basis.

For the nine month period, revenues were 39.6 billion euros, down 8.5% on a gross basis and 8.1% on an organic basis. The company said the organic revenue decrease was primarily driven by the Covid-19 crisis and mild temperatures, impacting mainly Supply and to a lesser extent, Client Solutions activities across all geographies, the termination of an LNG contract in North America and to a lesser degree lower distribution revenues in Networks.

For fiscal 2020, ENGIE expects: a net recurring income Group share between 1.7 billion euros and 1.9 billion euros. The guidance is based on an indicative EBITDA range of 9.0 billion euros to 9.2 billion euros and current operating income range of 4.2 billion euros to 4.4 billion euros.

The Board will decide on the dividend to be proposed at the time of the 2020 financial closing.

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