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Engie Q1 EBITDA down, revenues rise

Staff Writer | May 5, 2017
Engie, formerly called GDF Suez, reported that its first-quarter EBITDA, a key earnings metric, declined 5.9 percent to 3.30 billion euros from last year's 3.5 billion euros.
Engie   Current Operating Income reached 2.19 billion euros
EBITDA fell 3.6% on an organic basis.

The results were impacted by a decrease of hydro production in France, by hydrocarbon production and by the shutdown of the Tihange 1 nuclear power plant since September 2016.

These effects are partially compensated by the sustained performance of the Group's growth engines, by the activities of thermal gas generation activities in Europe and by a favorable foreign exchange effect.

Current Operating Income reached 2.19 billion euros, down 8.5% on a gross basis and down 4.6% on an organic basis.

Revenues as of March 31, 2017 were 19.51 billion euros, up 3.2% on a gross basis from 18.9 billion euros last year. Revenues grew 3.1% on an organic basis.

Further, the company confirmed its 2017 financial targets, and continues to expects net recurring income group share between 2.4 billion euros and 2.6 billion euros. This target is based on estimated EBITDA between 10.77 billion euros and 11.3 billion billion euros.

The company plans a dividend of EUR 0.7/share, in cash, for fiscal year 2017.