Engie confirms earnings guidance as revenues edge up

French energy company Engie saw its revenue edge 1 percent up on an organic basis, driven by a sharp increase in renewable power generation and by the introduction of gas storage regulation in France. 

The company’s revenue reached €43 billion ($49.4 billion) for the nine months of the year despite negative financial impacts due to major unplanned maintenance on nuclear units in Belgium, adverse exchange rates and the dilutive effect of disposals.

Engie added that its before interest, tax, depreciation and amortization (EBITDA) edged 5 percent up on an organic basis during the period reaching €6.5 billion.

The current operating income reached €3.5 billion 7.7 percent up on organic basis, Engie’s report shows.

The company further confirmed its guidance for net recurring income of €2.45- €2.65 billion, expecting it to land at the lower end, based on the assumption of a restart of Belgian nuclear units according to the schedule.