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Engie: FY 2018 in line with forecasts

( - French energy giant Engie has reached - albeit at the bottom of the range (as announced) for recurrent net income - its targets for 2018.

The group recorded revenues of 60.6 billion euros last year, up 1.7% in organic terms, compared with +1% over the first nine months.

Again according to comparable data, EBITDA rose by 4.7% to 9.2 billion euros. Finally, recurrent net income rose by 10.1% as reported, and was up 17.3% on an organic basis at 2.46 billion euros, while management was expecting a figure in the lower end of a range of 2.45 billion to 2.65 billion euros.

The group's net debt/EBITDA ratio works out at 2.3x, while the group announced that this would be less than or equal to 2.5 times.

Ahead of a CMD, when it will present its MT outlook, in 2019, management is aiming for EBITDA of 9.9 billion to 10.3 billion euros, with recurrent net income of between 2.5 billion and 2.7 billion euros, while maintaining its debt ratio below 2.5x EBITDA.

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