Engie: stock up after quarterly results
(CercleFinance.com) - The Engie share is up over 3% in early trading on Friday after the group published EBITDA of 2.
8 billion euros for the first nine months of 2020, albeit down 24.3% in organic terms relative to the first nine months of 2019.
However, after a second quarter that was significantly impacted by market conditions, the energy group managed to report y-o-y organic growth of 2% in its underlying EBITDA in Q3, thanks to growth in renewables.
"Engie benefits from stability and good visibility for the majority of its operations," the group says that it expects to report underlying EBITDA and net income, group share in the ranges provided for 2020.
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