Engie : Q1 points to a good year in 2024
>Earnings higher than expected on volatile divisions - On Friday Engie reported Q1 2024 results that beat expectations. EBITDA came to € 5.4bn, (-0.7% organic), beating our estimate of € 5.1bn. EBIT was down 1.6% on an organic basis to € 4,166m vs € 3,835m expected. By division, the renewable energies segment generated € 712m (+4.3% organic vs ODDO BHF € 800m), thanks to good hydropower conditions in France and Portugal but affected by the fall in prices and the CNR ...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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