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29 July 2022

ENGIE H1 2022 Financial Results

Continued performance in unprecedented market conditions

Business highlights

Financial performance

  • ENGIE playing an active role to ensure energy security of supply and support customers with energy affordability
  • Exposure to Russian gas substantially reduced
  • Continued momentum on execution of strategic plan towards simplification and growth
  • Further growth in Renewables with 2.2 GW added reaching over 36 GW worldwide
  • Sale of EQUANS on track for completion in H2 2022
  • Discussions started with the Belgian State under clear risk-reward framework to assess the potential feasibility and terms for life extension of 2 nuclear reactors
  • EBIT up 73% organically, with growth across most activities
  • Improved Cash Flow From Operations1, supported by higher operating cash flow, positive margin calls effect, €0.7bn monetization of French gas tariff shield
  • Contribution to profit sharing mechanisms for Belgian Nuclear and French hydro of €467m
  • Strong balance sheet and liquidity framework maintained, net financial debt at €26.3bn, up €1.0bn
  • Performance benefiting from strength of integrated business model, FY 2022 NRIgs2 guidance3 unchanged in the range of €3.8-4.4bn

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

2 Net recurring income Group share

3 Key assumptions and indications for the FY 2022 guidance are provided in appendix 4