Engie reported a good set of 9M results. EBITDA grew 5% organically, driven by networks, renewables and energy management services which, combined, more than offset the well-anticipated €300m drag coming from the Belgian nuclear activities. We stick to our positive recommendation as the upside stemming from higher power prices, increased renewables capacity and higher load factors in Belgium from Q1 19 advocate for a stronger 2019 performance.
07 Nov 2018
Solid organic EBITDA growth despite €300m Belgian drag
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Solid organic EBITDA growth despite €300m Belgian drag
ENGIE SA. (ENGI:WBO) | 0 0 1.4% | Mkt Cap: 30,916m
- Published:
07 Nov 2018 -
Author:
Edouard Enault -
Pages:
3
Engie reported a good set of 9M results. EBITDA grew 5% organically, driven by networks, renewables and energy management services which, combined, more than offset the well-anticipated €300m drag coming from the Belgian nuclear activities. We stick to our positive recommendation as the upside stemming from higher power prices, increased renewables capacity and higher load factors in Belgium from Q1 19 advocate for a stronger 2019 performance.