ENGIE : Confident on the guidance. Buy recommendation and target price of € 15.0 reiterated
>Results a shade above forecasts - Yesterday morning, Engie reported H1 results which were slightly better than expected. EBITDA was € 5.32bn, up 2.2% organic vs our forecast of € 5.25bn and € 5.14bn for the consensus. Current operating income was € 3.16bn, +5.6% on an organic basis (ODDO-BHF at € 3.07bn and € 3.05bn for the consensus). Net recurring income on continued activities was € 1.47bn, stable vs last year, up 1.7% on an organic basis (ODDO BHF and consensus ...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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