Engie Warns on 2018 Nuclear Production and Profits; Shares Undervalued
Engie has unveiled unplanned outages at its Belgian nuclear plants due to the required review of concrete ceilings of the buildings annexed to reactors after flaws were uncovered at Doel 3. The production impact will be around 4-5 TWh, on our estimates. According to the group, these outages will shave EUR 250 million off 2018 EBITDA and recurring net income. No impact is foreseen on 2019 nuclear production and earnings. The group will implement a specific action plan to mitigate the impact, hint...Engie is an industrial group, based in France, active in the fields of gas, electricity, energy services and the environment. Co. is an energy provider across the entire energy chain, in electricity and in natural gas, including: purchase, production and commercialization of natural gas and electricity; transport, distribution, management and development of major natural gas infrastructures; design and commercialization of energy services and environment-related services. Co.'s activities are conducted through five segments: Energy Europe, Energy International, Global Gas and LNG, Infrastructures, and Energy Services.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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