Engie: H1 recurrent income halved
(CercleFinance.com) - Engie has reported H1 2020 recurrent net income, group share that has been halved to 0.
7 billion euros, with underlying operating income that is down 30.8% (-29.3% on an organic basis) at 2.2 billion euros.
EBITDA amounted to 4.5 billion euros, down 15.8% in gross terms and down 14% in organic terms, for revenue of 27.4 billion euros, down 9.3% in gross terms and down 8.8% in organic terms, in particular due to the Covid-19 crisis and the hot weather.
For 2020, Engie forecasts recurrent net income, group share of between 1.7-1.9 billion euros, a target that is based on an indicative EBITDA range of 9-9.2 billion euros and an underlying operating income of between 4.2-4.4 billion euros.
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