ENGIE : Good results but guidance too low for 2021
>Better-than-expected results at the operating level - On Friday Engie reported results that were higher than expected and above the guidance at the EBITDA and EBIT level. Sales were down 5.7% to € 55.7bn but in line with expectations (€ 55.4bn). EBITDA was down 6.5% to € 9,276m but beat our forecasts (€ 9.1bn) and the consensus (€ 9.0bn). EBIT was down 16.4% organic to € 4,578m vs our estimate of € 4,353m and € 4,311m for the consensus. Recurring net income was at th...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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