Engie published sharply higher results for 2021, driven in particular by high energy prices. The group expects a steady improvement in its performance over the next three years.
PARIS (Reuters) – Engie published sharply higher results for 2021 on Tuesday, driven by energy prices and the high availability of its production capacities, and said it expects a steady improvement in its performance in over the next three fiscal years.
The gas and electricity supplier, which focuses on renewable energies, decentralized energy infrastructures and even “green” gas, said in a press release that it was aiming for a net recurring result group share of between 3 .1 and 3.3 billion euros in 2022, then from 3.2 to 3.4 billion in 2023 and from 3.3 to 3.5 billion in 2024.
By 2024, it forecasts growth in its results mainly driven by its investments in renewables and by the improvement in the performance of its “Energy Solutions” division (decentralized “low-carbon” energy infrastructures) as well as a “resilient contribution”. of its Infrastructure division, with growth which should be based in particular on a “significant improvement in productivity”.
Engie thus intends to do more than compensate for the drop in the results of its nuclear activities in Belgium, following the shutdown of the power plants by 2025, and “generate a gradual growth in results and dividends”.
The group recorded net income group share of 3.7 billion euros for 2021 (compared to a loss of 1.5 billion a year earlier), recurring net income group share from continuing operations of 2, 9 billion (+69.7%), an Ebitda of 10.6 billion (+18.6%) and a turnover of 57.9 billion (+30.6%).
Engie specifies that it has restated its 2020 financial year to take into account the sale to Bouygues of its multi-technical services subsidiary Equans for 7.1 billion euros, the completion of which is still scheduled for the second half of 2022.
The group now estimates that its disposal plan should have an impact of at least 11 billion euros on its net financial debt between 2021 and 2023, against an initial indication of 9 to 10 billion.
It proposes a dividend of 0.85 euro per share for 2021 (compared to 0.53 euro per share for 2020) and emphasizes that its dividend policy remains unchanged, the expected increase in its results should allow it not to resort to the floor level of 0.65 euro per share announced last May.
Engie also announced on Tuesday its intention to consult its shareholders on its climate transition strategy at its next general meeting.
(Report Benjamin Mallet; edited by Blandine Hénault)
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