ENGIE H1 2024 results

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Good financial results in a “back-to-normal” market environment
FY 2024 Guidance upgraded

Business highlights

Financial performance

Energy market settling at a new normal
More than 1GW of additional renewables capacity in H1 and 6.9GW under construction
Renewables pipeline grew to 95GW at end-June 2024
Successful integration of BRP with 800MW of battery capacity completed in H1 2024
Approval by the Chilean regulator for conversion of one coal-fired unit, a stage in our full exit from coal in Chile in 2025

EBIT excluding nuclear of €5.6bn, down 16.3% organically compared with a particularly high H1 2023
Net Recurring Income group share at €3.8bn
Strong cash-flow generation with CFFO¹ at €8.9bn
Growth capex up 78% year-on-year
Solid balance sheet with economic net debt / EBITDA of 3.1x at end-June 2024
Decline of €0.8bn in economic net debt to €45.8bn
FY 2024 guidance upgraded, with NRIgs² now expected in the range of €5.0-5.6bn.

Catherine MacGregor, CEO, said: « In the face of a market returning to normal conditions, ENGIE has once more delivered very strong H1 results, enabling us to raise our full year 2024 guidance. This financial performance demonstrates the power of our integrated model and showcases our operational capabilities. The first half was marked by the completion of 800MW of new battery capacity in the US thanks to the successful integration of Broad Reach Power. In renewables we have moved forward at pace with another 1GW of additional capacity during the first half plus almost 7GW of projects ongoing at the end of June. More than ever, ENGIE reiterates its commitment of an energy transition affordable to all.»

¹ Cash Flow From Operations: Free Cash Flow before maintenance Capex and nuclear provisions funding

² Net Recurring Income Group share

Media kit

2 August 2024

ENGIE H1 2024 PR-VDEF

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