Engie 9-month EBIT, Revenue Climb; Lifts FY22 Outlook - Quick Facts

Engie SA (ENGQF.PK,ENGIY.PK), a French energy provider, reported Thursday that nine-month earnings before interest and tax or EBIT climbed 84.4 percent to 7.3 billion euros from last year's 3.9 billion euros.

EBITDA was 10.7 billion euros, up 47.7 percent from 7.2 billion euros a year ago. EBITDA grew 44.9 percent on an organic basis.

Revenue climbed 85.3 percent to 69.3 billion euros from 37.4 billion euros last year. Revenue went up 82.9 percent on an organic basis.

Looking ahead, the company upgraded its fiscal 2022 forecast.

Net recurring income Group share or NRIgs for the year is now expected to be in the range of 4.9 billion euros to 5.5 billion euros, based on indicative EBITDA range of 13.2 billion euros to 14.2 billion euros and EBIT range of 8.5 billion euros to 9.5 billion euros.

Previously, the company expected NRIgs in the range of 3.8 billion euros to 4.4 billion euros, based on indicative EBITDA range of 11.7 billion euros to 12.7 billion euros and EBIT range of 7.0 billion euros to 8.0 billion euros.

Further, the company reaffirmed its dividend policy, with a 65 percent to 75 percent payout ratio based on NRIgs, and a floor of 0.65 euro per share for the 2021 to 2023 period.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Integrated energy company Chevron reported Friday that profit for the fourth quarter increased 25 percent from last year, reflecting 17 percent revenue growth amid higher realizations and higher margins on refined product sales. Adjusted earnings per share missed analysts' estimates, while quarterly revenues topped it. Reno, Nevada-based ZLINE Kitchen and Bath has expanded its recall of gas ranges citing serious risk of injury or death from carbon monoxide poisoning, the U.S. Consumer Product Safety Commission announced. The recall now includes about 30,000 units of ZLINE gas ranges, including about 28,000 units... The Food and Drug Administration's independent advisory committee unanimously recommended replacing the current original COVID vaccines used in the U.S. for primary shots with new bivalent omicron shots authorized as boosters, reports said. The committee also considered the proposal for annual COVID vaccination, however, didn't vote on it.
Follow RTT