Engie Swings to Profit in 2017, Helped by Overhaul
March 08 2018 - 1:54AM
Dow Jones News
By Sarah Sloat
French utility Engie SA (ENGI.FR) said Thursday that it swung to
a group net profit in 2017, helped by an overhaul that included
significant disposals.
Group net profit rose to 1.4 billion euros ($1.74 billion) from
a loss of about EUR400 million a year earlier. Revenues grew
slightly to EUR65 billion from EUR64.8 billion. The company
confirmed it would pay a 2017 dividend of EUR0.70 and plans to
increase that to EUR0.75 for 2018.
"Engie has repositioned its portfolio, laying the foundations
for future growth," the company said, noting EUR13.2 billion in
planned disposals last year that leave it less exposed to market
risks. It also made investments of around EUR13.9 billion in
operations with good growth prospects, it said.
Engie expects its 2018 recurring after-tax profit--a measure
that strips out restructuring costs and other impairments--to be
between EUR2.45 billion and EUR2.65 billion, compared with EUR2.6
billion in 2017.
Write to Sarah Sloat at sarah.sloat@wsj.com
(END) Dow Jones Newswires
March 08, 2018 02:39 ET (07:39 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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