PARIS (dpa-AFX) - Engie SA (ENGQF.PK, ENGIY.PK), a French utility company, on Friday reported a net profit for the first-half, despite a decline in revenue.
For the six-month period to June 30, Engie's net profit was 1.942 billion euros or 0.78 euro per share, compared with loss of 847 million euros or 0.37 euro per share, reported for the same period last year.
The results were impacted by the non-recurrence of a negative cost related to nuclear provisions following the agreement signed with the Belgian Government in 2023.
Net financial loss stood at 1.002 billion euros as against the previous year's loss of 1.327 billion euros.
Net profit from operating activities was 4.221 billion euros, compared with 1.981 billion euros in 2023.
Current operating income including operating MtM dropped to 3.569 billion euros from 5.949 billion euros a year ago.
Net recurring income, Group share amounted to 3.8 billion euros, compared with 4 billion euros in 2023.
Revenue was 37.525 billion, down from last year's 47.028 billion.
Citing the strong first-half financial performance and lower than expected recurring net financial costs for the full year, the company has revised up its outlook for net recurring income group share.
Engie now expects net recurring income group share of 5 billion euros to 5.6 billion euros against the previous projection of 4.2 billion euros to 4.8 billion euros.
EBIT, excluding Nuclear, is now expected to be in the indicative range of 8.2 billion euros to 9.2 billion euros, compared with previous outlook of 7.5 billion euros to 8.5 billion euros.
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