ENGIE FY 2023 results

February 22, 2024

Finance

Another year of strong growth in results underpinned by successful execution of our strategy
Proposed dividend of €1.43 per share for 2023
Robust medium-term outlook 2024 – 2026

Business highlights

Financial performance

High pace of growth in Renewables with 3.9 GW of additional installed capacity in 2023 reaching a total of 41.4 GW
Acceleration in battery storage with the acquisition of BRP in the United States and the commissioning of Hazelwood in Australia
Visibility reinforced on the contribution of Networks in France
Continued progress in Net Zero 2045 trajectory with a 54% reduction vs. 2017 in GHG emissions from energy production to 52Mt in 2023
Signature of the final agreement on Belgian nuclear, thereby fundamentally de-risking the Group

Guidance 2023 achieved with NRIgs of €5.4 billion
EBIT excluding nuclear of €9.5 billion, an organic increase of 18%, driven mainly by GEMS and Renewables
Cash Flow From Operations¹ sharply up by €5 billion supported by improvement in working capital
Growth capex² up 48% to €8.1 billion
Solid balance sheet with economic net debt to EBITDA at 3.1x
Net financial debt at €29.5bn, up €5.4bn, economic net debt at €46.5bn, up €7.7bn
2024 NRIgs expected in the range of €4.2 to €4.8 billion.
Proposed dividend of €1.43 per share for 2023, corresponding to a pay-out ratio of 65%

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

²Net of sell down, US tax equity proceeds, including net debt acquired