Strong operational and financial performance

Business highlights

Financial performance

  • Excellent execution in Renewables, with 2.3GW of new capacity and 7.2GW under construction as of September 30
  • Confident of achieving full-year target of 4GW additional capacity
  • Acceleration in batteries1 with 1.0GW added capacity and 3.0GW under construction as of September 30
  • Awarded new 1,000km power transmission concession in Brazil

Governance

  • Proposal by the Board of Directors for the renewal of Catherine MacGregor's mandate as a member of the Board to the next AGM
  • 9M 2024 EBIT of €7.1bn excluding Nuclear, down 11.0% organically versus a high 2023 basis for comparison
  • Healthy organic growth of EBIT excluding Nuclear in the 3rd quarter (+18%) driven by Renewables, Networks, and GEMS
  • Strong CFFO2 generation at €11.8bn
  • Maintaining a solid balance sheet with economic net debt to EBITDA ratio at 3.0x
  • FY 2024 guidance confirmed, with NRIgs3 now expected in the upper end of the range of €5.0-5.6bn

 

 


Catherine MacGregor, CEO, said: “Over the first nine months of the year, ENGIE has delivered very strong earnings and substantial cash flow. These results are driven by a variety of our activities and demonstrate the relevance of ENGIE’s integrated model. Our development in renewables has continued apace with 2.3GW installed in the year to September, at which point we had 7.2GW under construction, bringing us confidence of achieving our annual target of 4GW. We maintain our leading position in the PPA market, with 2.6GW of signed contracts over the first nine months. Finally, we have continued our growth in the strategic field of power infrastructure, with the significant award of 1,000 km of transmission lines in Brazil. Building on these strong operational and financial performances, ENGIE maintains its progress towards constructing a decarbonized, reliable, and affordable energy system.”
 

1 Including collocated batteries (renewables) and standalone batteries (Flex Gen)

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

3 Net recurring income Group share

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