Engie : Guidance upgrade and encouraging outlook
>Good performance in 9M 2023 - Engie yesterday reported 9M 2023 results that beat our expectations. EBIT was up 15% on an organic basis to € 8,321m versus € 8,225m expected. EBIT excluding nuclear was € 7,989m (+28% org.) vs ODDO BHF’s estimate of € 7,860m. As expected, the performance was in large part driven by trading activities (GEMS) which benefited from a favourable market situation at the start of the year even though Q3 was weaker due to the booking of a provi...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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