Engie Nine-Month Earnings Decline, but Backs 2017 Targets
November 08 2017 - 01:18PM
Dow Jones News
By Sarah Sloat
French energy company Engie SA (ENGI.FR) said Wednesday that its
earnings fell in the first nine months, largely due to effects
related to divestments.
Earnings before interest, taxes, depreciation and amortization
declined to 6.6 billion euros ($7.6 billion) in the nine months
from EUR6.8 billion in the year-earlier period. On an organic
basis, Ebitda was 3.8% higher, the company said. Revenues rose to
EUR46.8 billion from EUR46.2 billion. On an organic basis, revenues
rose 2.9%.
Engie attributed the earnings decline in part to power
generation asset disposals in the U.S., as well as an Indonesian
power plant divestment.
The company confirmed its 2017 financial targets, and still
expects recurring after-tax income between EUR2.4 billion and
EUR2.6 billion.
Write to Sarah Sloat at sarah.sloat@wsj.com
(END) Dow Jones Newswires
November 08, 2017 13:03 ET (18:03 GMT)
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