ENGIE 9M 2023 results

November 7, 2023

Finance

Business highlights

Financial performance

Record level of renewable assets under construction at the end of September at 7.6 GW
Confirmation of the target of 4 GW of additional capacity on average per year between 2023 and 2025
Acceleration in battery storage following the acquisition of Broad Reach Power in the United States
Strengthening of biomethane platform in Europe with the acquisition of Ixora Energy in the United Kingdom
Good progress on LTO project, on track to sign related agreements with Belgian Government in Q4

EBIT of €8.0bn excluding Nuclear, up 28% organically, driven mainly by GEMS and Renewables
Strong growth in CFFO¹ driven by improvement in Working Capital Requirements and higher EBITDA
Growth capex up 27% to €4.6 billion
Solid balance sheet with economic net debt to EBITDA ratio at 2.8x
Net financial debt at €24.6bn, up €0.5bn, economic net debt up €3.1bn to €41.9bn
FY 2023 guidance upgraded, with NRIgs² expected in the range of €5.1-5.7bn. Dividend policy reaffirmed

¹ Cash Flow From Operations: Free Cash Flow before maintenance Capex and nuclear phase-out expenses

²Net recurring income Group share