Engie : The course is set for 2023 under the appreciation of the market

  •   04/06/2021 - 07h06
  •   DEHOUI Lionel

At the beginning of March 2021, the tariffs that have been regulated excluding tax of the company Engie come out with an increase of 5.7 %. This level is comparable to the current scale, which has been in effect since the beginning of February 2021. In contrast, the group's regulated gas marketing tariffs have sunk since 1 January 2019 (-9.2%). But Engie is focusing on the 2023 horizon.

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Engie : The course is set for 2023 under the appreciation of the market

Improvement in Engie's business

Under the impetus of its quarterly results, which indicate significant business growth, Engie was clearly gaining 3.2% and stood at 13.13 euros, last week. At the same time, the gas and electricity producer confirmed its target for the current year. On the other hand, it made its forecast for the year 2023.

Its activity in the first quarter was a solid performance. The Engie group was able to take advantage of the high availability of nuclear assets in Belgium. It also benefited from higher electricity prices on the European continent. The extreme cold weather in Texas had consequences that were offset by these various positive points.


Ebit and Ebitda of Engie

At the end of the three-month period, Engie posted an 8.3% increase in EBIT to €2.1 billion. The company's Ebit achieved organic growth of 10%. As a result, its Ebitda increased by 5.3% to €3.2 billion, with organic growth of +7.3%. The Group's turnover was 16.9 billion euros, an increase of 2.3% (+4.8% organic growth).

For the year 2021, the group reaffirms its guidance objective. It expects recurring net income, group share, of between 2.3 and 2.5 billion euros. It nevertheless hopes to achieve a substantial Ebitda within the indicative range of 9.9 to 10.3 billion euros for this period. In terms of Ebit, it expects to achieve a figure between 5.2 and 5.6 billion euros.


Engie's objectives for the coming years

Engie has made public its repositioning through a press release with a view to sustainable and long-term growth. The group intends to accelerate its activities related to Renewables and aims at a "Net Zero Carbon" objective in 2045. In order to achieve these objectives, it plans to make several divestments worth €9 to 10 billion by 2023.

It also anticipates significant growth in its investments. These will reach €2.7 to €2.9 billion by 2023. Finally, the Engie group intends to work to achieve growth in net income, group share, from 2021 to 2023. It expects to achieve a net profit of between €2.7 and €2.9 billion by the end of 2023.

Until now, the group has focused on renewable gases, renewable energies and decentralised energy infrastructures. It has therefore been working to build an energy system that emits very low levels of carbon according to market requirements for the future.