Engie : A reassuring outlook although there are still some grey areas
>Full-year results a shade above forecasts - Engie released yesterday FY 2022 results in line with guidance but a shade above forecasts. EBITDA was up 27% on an organic basis at € 13,665m (vs guidance of € 13.2-14.2bn), vs our estimate of € 13,349m and the consensus at € 13,320m. EBIT came to € 9,045m (+43% organic), in line with guidance (€ 8.5-9.5bn) but slightly above forecasts at € 8.9bn. This increase can be explained mainly by the strong performance of the GEMS,...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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