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Engie SA Q1 EBIT, Revenue Rise

Engie SA (ENGQF.PK,ENGIY.PK), a French energy provider, on Tuesday posted a surge in earnings for the first quarter, amidst an increase in revenues and an unprecedented levels of volatility and higher prices.

In addition, for the full year, the company has revised up its guidance.

For the March quarter, the La Défense-headquartered firm posted EBIT of 3.5 billion euros, compared with 2.0 billion euros, reported for the same period a year ago.

EBITDA was at 4.6 billion euros, higher than 3.1 billion euros, recorded a year ago.

For three-month period, the firm generated revenues of 25.6 billion euros as against 13.8 billion euros of previous year.

Looking ahead, for the fiscal 2022, ENGIE now expects its net recurring income, group share to be in the range of 3.8 billion euros - 4.4 billion euros, based on an indicative EBITDA range of 11.7 billion euros - 12.7 billion euros.

Earlier, for 2022, Engie had projected net recurring income, group share to remain in the range of 3.1 billion euros - 3.3 billion euros.

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