Significant operational progress across GBUs
Strong financial performance
| Business highlights |
Financial performance |
- Fundamental de-risking of nuclear exposure through agreement on all waste liabilities and extension of Doel 4 and Tihange 3
- Expected acceleration in Renewables with 6.6 GW under construction at the end of June
- Reinforcement of ENGIE’s renewables platform in South Africa following the acquisition of BTE Renewables and full consolidation of Kathu
- Commissioning of ENGIE’s largest battery energy storage system Hazelwood in Australia
- Awarded a 30-year concession of 1,000 km of power lines in Brazil
- 100% renewable power generation in Brazil after Pampa Sul coal plant disposal
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- EBIT of €6.7bn excluding Nuclear, up 53% organically, driven mainly by GEMS and Renewables
- Strong growth in CFFO1 driven by EBITDA growth and improvement in Working Capital Requirements
- Impact of Belgian nuclear transaction integrated in financial results at 30 June
- Solid balance sheet and improving economic net debt to EBITDA ratio at 2.7x, including impact of the agreement on nuclear liabilities
- Net financial debt decreasing to €23.0bn, down €1.1bn, economic net debt increasing to €41.4bn
- FY 2023 guidance confirmed, with NRIgs2 expected in the range of €4.7-5.3bn
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