ENGIE DATABOOK H1 2020 RESULTS
July 31st, 2020
PAGE | |
Group Generation capacities | 3 |
GBL analysis | 5 |
Matrix by reportable segment and business lines (Revenues, Ebidta, COI, Capex) | 5 |
KPI by global business line | 10 |
Reportable segments | 18 |
France | 18 |
Rest of Europe | 21 |
Latin America | 22 |
USA&Canada | 23 |
Middle East, Asia & Africa | 24 |
Others | 25 |
Financial appendices | 26 |
scope & forex | 26 |
Balance sheet, P/L & cash flow statement | 28 |
Profit & Loss details | 32 |
Cash flow details | 39 |
Credit | 41 |
CSR | 44 |
Disclaimer, ADR & Contracts | 45 |
2 | July 31st 2020 |
GROUP GENERATION CAPACITIES
As of 06/30/2020
At 100%
% consolidation(3)
Net ownership(4)
Installed
6% | 4%4% | ||
3% | |||
0% | |||
9% | 98.3 GW | 54% | |
20% | |||
10% | 5% 4% | ||
3% | |||
1% | 62.3 GW | 43% | |
9% | |||
25% | |||
11% | 4% 4% | ||
3% | |||
1% | 54.6 GW | 47% | |
9% |
21%
Low CO2 emissions 92% 100% Renewable(2) 28% 100%
Low CO2 emissions 91% 100% Renewable(2) 32% 100%
Low CO2 emissions 92% 100%
Renewable(2)
29% 100%
Under construction
31% 1%
5.5GW
68%
1%
41%
4.1 GW
58%
1%
41%
3.8 GW
57%
Natural gas
Hydro
Wind
Other RES
Solar
Nuclear
Coal
Other non-RES
- Excluding Client Solutions capacities
- Excluding pumped storage for hydro capacity
- % of consolidation for full consolidated and joint operations affiliates and % holding for equity consolidated companies
- ENGIE ownership
3
July 31st 2020
GROUP GENERATION CAPACITIES
As of 06/30/2020
GW @ 100%
96.8
+2.7 GW of new capacity added:
44% Renewables | 71% International |
+1.6 | +0.8 | ||||||
+0.4 | |||||||
• Renvico acquisiton | |||||||
(France & Italy wind, 328 MW) | |||||||
• Fadhili | |||||||
• East Fork | • Various Spain | ||||||
(Saudi Arabia, gas, 1507 MW) | (wind, 169 MW) | ||||||
(USA, wind, 196 MW) | |||||||
• Kadapa | |||||||
• Tonstad | |||||||
• Jumbo Hill | |||||||
(India, Solar, 50 MW) | |||||||
(wind, 151 MW) | |||||||
(USA, wind, 161 MW) | |||||||
• Various France | |||||||
(wind, 71 MW) |
-1.2 GW closed or sold
(1.2)
0.0 | ||||
• Astoria | • Tamaya closure | |||
(USA, gas, 1150 MW) | (Chile, non-renewable, 100 | |||
MW) | ||||
• Other capacity revisions in | ||||
various geographies | ||||
(Singapore + 412 MW) | ||||
(Chile ,Mexico Europe -318 | ||||
MW) |
62%
International
38%
Europe
92%
low CO2 emissions
28%
Renewables
98.3
12/31/2019 | Americas | Africa/Asia | Europe & Others | Disposals | Closing/Decommissioning | 06/30/2020 |
/Others |
GW @ | 61.7 | 0.4 | 0.7 | 0.5 | -0.5 | -0.4 | 62.3 |
conso share(2) | |||||||
- Excluding Client Solutions capacities
- % of consolidation for full consolidated and joint operations affiliates and % holding for equity consolidated companies
4 | July 31st 2020 |
GBL ANALYSIS - Matrix by reportable segment and business lines
In €M | Client | Networks | Renewables | Thermal | Nuclear | Supply | Others(1) | Total |
solutions | ||||||||
France | 4,334 | 2,822 | 513 | 2,443 | 10,112 | |||
Rest of Europe | 3,474 | 142 | 47 | 322 | 20 | 3,685 | 7,690 | |
Latin America | 137 | 348 | 571 | 841 | 396 | 2,294 | ||
USA & Canada | 754 | 28 | 7 | 1,263 | 2,052 | |||
Middle East, Asia & Africa | 247 | 70 | 67 | 379 | 394 | 1,158 | ||
Others | 463 | 36 | 2,415 | 1,212 | 4,126 | |||
Total | 9,409 | 3,383 | 1,263 | 1,550 | 20 | 10,595 | 1,212 | 27,433 |
In €M | Client | Networks | Renewables | Thermal | Nuclear | Supply | Others(1) | Total |
solutions | ||||||||
France | 4,769 | 2,968 | 535 | 2,858 | 11,131 | |||
Rest of Europe | 3,820 | 163 | 47 | 404 | 28 | 4,250 | 8,712 | |
Latin America | 186 | 308 | 721 | 847 | 540 | 2,601 | ||
USA & Canada | 534 | 31 | 12 | 1,260 | 258 | 2,095 | ||
Middle East, Asia & Africa | 236 | 68 | 68 | 745 | 415 | 1,532 | ||
Others | 401 | 3 | -9 | 2,486 | 1,294 | 4,174 | ||
Total | 9,945 | 3,507 | 1,406 | 1,999 | 28 | 11,808 | 1,552 | 30,245 |
(1) Including corporate, GTT, LNG activities in Noram and GEM
5 | July 31st 2020 |
GBL ANALYSIS - Matrix by reportable segment and business lines
In €M | Client | Networks | Renewables | Thermal | Nuclear | Supply | Others(1) | Total |
solutions | ||||||||
France | 232 | 1,844 | 220 | 138 | 2,433 | |||
Rest of Europe | 71 | 77 | 71 | 239 | 155 | 102 | 715 | |
Latin America | 12 | 218 | 391 | 305 | 23 | 948 | ||
USA & Canada | 2 | 1 | 49 | 18 | -12 | 2 | 59 | |
Middle East, Asia & Africa | 18 | 1 | 49 | 252 | -33 | 287 | ||
Others | -98 | -3 | -25 | -2 | -58 | 221 | 35 | |
Total | 236 | 2,137 | 755 | 812 | 155 | 159 | 223 | 4,478 |
In €M | Client | Networks | Renewables | Thermal | Nuclear | Supply | Others(1) | Total |
solutions | ||||||||
France | 436 | 1,908 | 195 | 224 | 2,763 | |||
Rest of Europe | 251 | 103 | 61 | 197 | 17 | 165 | 793 | |
Latin America | 18 | 168 | 505 | 351 | 27 | 1,069 | ||
USA & Canada | -14 | 1 | 22 | 14 | 10 | 41 | 74 | |
Middle East, Asia & Africa | 10 | 12 | 51 | 361 | -8 | 426 | ||
Others | 67 | -3 | -21 | -20 | 61 | 112 | 196 | |
Total | 770 | 2,188 | 812 | 902 | 17 | 479 | 153 | 5,321 |
(1) Including corporate, GTT, LNG activities in Noram and GEM
6 | July 31st 2020 |
GBL ANALYSIS - Matrix by reportable segment and business lines
In €M | Client | Networks | Renewables | Thermal | Nuclear | Supply | Others(1) | Total |
solutions | ||||||||
France | 40 | 1,027 | 104 | 68 | 1,239 | |||
Rest of Europe | -45 | 56 | 44 | 160 | -107 | 61 | 168 | |
Latin America | -1 | 185 | 311 | 179 | 22 | 696 | ||
USA & Canada | -20 | 1 | 34 | 16 | -33 | 2 | 1 | |
Middle East, Asia & Africa | 8 | 43 | 236 | -44 | 243 | |||
Others | -124 | -3 | -25 | -2 | -70 | 47 | -179 | |
Total | -142 | 1,266 | 512 | 588 | -107 | 3 | 49 | 2,169 |
In €M | Client | Networks | Renewables | Thermal | Nuclear | Supply | Others(1) | Total |
solutions | ||||||||
France | 246 | 1,129 | 80 | 155 | 1,610 | |||
Rest of Europe | 141 | 82 | 33 | 119 | -216 | 133 | 291 | |
Latin America | 4 | 140 | 414 | 236 | 27 | 820 | ||
USA & Canada | -27 | 1 | 13 | 8 | -6 | 33 | 22 | |
Middle East, Asia & Africa | 3 | 11 | 41 | 340 | -17 | 378 | ||
Others | 47 | -3 | -22 | -20 | 49 | -36 | 15 | |
Total | 414 | 1,359 | 559 | 682 | -216 | 340 | -3 | 3,135 |
(1) Including corporate, GTT, LNG activities in Noram and GEM
7 | July 31st 2020 |
GBL ANALYSIS - Matrix by reportable segment and business lines
In €M | Client | Networks | Renewables | Thermal | Nuclear | Supply | Others(3) | Total |
solutions | ||||||||
France | 121 | 779 | 91 | 49 | 1,040 | |||
Rest of Europe | 92 | 46 | 152 | 37 | 48 | 51 | 427 | |
Latin America | 6 | 209 | 409 | 48 | 671 | |||
USA & Canada | 227 | 459 | 1 | 36 | 723 | |||
Middle East, Asia & Africa | 11 | 2 | -256 | -67 | 32 | -278 | ||
Others | 43 | 211 | 15 | 190 | 458 | |||
Total | 499 | 1,036 | 1,066 | 20 | 48 | 183 | 190 | 3,041 |
In €M | Client | Networks | Renewables | Thermal | Nuclear | Supply | Others(3) | Total |
solutions | ||||||||
France | 234 | 725 | 284 | 74 | 1,317 | |||
Rest of Europe | 249 | 36 | 32 | 79 | 397 | 38 | 832 | |
Latin America | 21 | 1,570 | 418 | 194 | 3 | 2,206 | ||
USA & Canada | 70 | 401 | 6 | 30 | 508 | |||
Middle East, Asia & Africa | 66 | 3 | 187 | 14 | 28 | 299 | ||
Others | 127 | 50 | 22 | 177 | 376 | |||
Total | 768 | 2,334 | 1,373 | 294 | 397 | 195 | 177 | 5,537 |
- DBSO: Develop, Build, Share and Operate
- Pro forma figures, unaudited
- Including corporate, GTT, LNG activities in Noram and GEM
8 | July 31st 2020 |
FINANCIAL APPENDICES - Profit & Loss details
In €M | Client | Networks | Renewables | Thermal | Nuclear | Supply | Others(2) | Total |
solutions | ||||||||
France | 2 | 4 | 20 | -1 | 25 | |||
Rest of Europe | 1 | 13 | 9 | 58 | 5 | 85 | ||
Latin America | 103 | -7 | 1 | 98 | ||||
USA & Canada | 1 | 19 | 18 | 37 | ||||
Middle East, Asia & Africa | 22 | -3 | 10 | 129 | 158 | |||
Others | -93 | 1 | 11 | -81 | ||||
Total | -69 | 119 | 52 | 204 | 5 | 11 | 321 | |
In €M | Client | Networks | Renewables | Thermal | Nuclear | Supply | Others(2) | Total |
solutions | ||||||||
France | 1 | 4 | 7 | -1 | 12 | |||
Rest of Europe | 1 | 14 | 12 | 15 | 1 | 42 | ||
Latin America | 3 | -18 | 3 | 2 | -10 | |||
USA & Canada | -3 | 1 | 13 | 14 | 24 | |||
Middle East, Asia & Africa | 18 | 9 | 125 | 151 | ||||
Others | 30 | -3 | 1 | -2 | 26 | |||
Total | 47 | 31 | 9 | 157 | 3 | -2 | 245 | |
- Pro forma figures, unaudited
- Including corporate, GTT, LNG activities in Noram and GEM
9 | July 31st 2020 |
GBL ANALYSIS - KPI by global business line
Client solutions
Asset-light services | Asset-based services |
Project | H1 2019 Dec. 2019 | H1 2020 | |
Backlog cumulated installation - TO (€bn) | 10.6 | 10.7 | 12.2 |
Order Intake Installation - TO (€bn) | 6.2 | n/a | 6.1 |
DHC | H1 2019 | H1 2020 |
Heat & Cool - Net Installed capacity (GW)(2) | 13.8 | 14.2 |
Recurring services | Onsite power generation (Thermal & Renewables) | ||||||
Cumul, Net commercial develop.(1) (€bn) | 1.9 | n/a | 0.9 | Net installed capacity (MW)(2) | 1,761 | 1,807 |
- Cumulated impact of gross development, minus lost portfolio contracts and plus or minus the net impact of the renegociated contracts (positive if growth, negative if downsizing), KPI can be volatile depending on the duration of the new contract signed
- at 100%
10 | July 31st 2020 |
GBL ANALYSIS - KPI by global business line
Networks | Supply |
Gas Distribution | H1 2019 | H1 2020 | ||
RAB France 01/01 (€bn) | 14.6 | 14.8 | ||
France Return on RAB (%) | 5.00% | 5.00% | ||
France Volume distributed (1) (TWh) | 165 | 161 | ||
International Volumes distributed (TWh) | 75,9 | 67.7 | ||
Gas Transport | ||||
RAB France 01/01 (€bn) | 8.9 | 8.9 | ||
France Return on RAB (%) (2) | 5.25% | 4.25% | ||
France Volume transported (TWh) | 388.5 | 362.8 | ||
International - Volume transported (TWh) | 37.3 | 109.3 | ||
Gas Storage | ||||
RAB France 01/01 (€bn) | 3.7 | 3.7 | ||
France Return on RAB (%) (2) | 5.75% | 4.75% | ||
France - Capacity Sold (TWh) | 95.5 | 95.7 | ||
International - Capacity sold (TWh) | 22.1 | 22.7 | ||
Regasification | ||||
RAB France 01/01 (€bn) | 1.0 | 1.0 | ||
France Return on RAB (%) | 7.25% | 7.25% | ||
Subscribed volume (TWh) | 115.1 | 124 | ||
Power Network | ||||
Power Network length @100% (km) | 3,248 | 3,248 | ||
- Average temperature, new climate reference
- New return as of April 1st 2020
Gas | H1 2019 | H1 2020 | ||
B2B - Gas sold (Twh) | 99 | 114 | ||
B2C - Gas sold (Twh) | 83 | 72 | ||
Power | ||||
B2B - Power sold (Twh) | 74 | 75 | ||
B2C - Power sold (Twh) | 18 | 18 | ||
# of contracts | ||||
B2C - Gas Nb of Customers (m#) | 13.4 | 13.1 | ||
B2C - Power Nb of Customers (m#) | 8.3 | 8.5 | ||
B2C - Nb of Service Recurrent Customers (m#) | 2.9 | 3.3 | ||
11 | July 31st 2020 |
GBL ANALYSIS - KPI by global business line
H1 Impact on gas sales and distribution
Supply Networks
Estimates, | France | Infrastructures | Total weather | H1 2020 | Supply: -7.5TWh - Networks: -17.2 TWh | |
B2C/B2B | France | Q1 | Q2 | |||
in €M | adjustment | |||||
Gas sales | GRDF | |||||
H1 2019 | -7 | -11 | -18 |
EBITDA | H1 2020 | -82 | -131 | -213 |
/COI(1) | ||||
∆ 20/19 | -75 | -120 | -195 | |
H1 2019 | - 5 | -7 | -12 | |
Net income H1 2020 | -55 | -89 | -145 | |
∆ 20/19 | -51 | -82 | -133 | |
EBITDA / COI(1) SENSITIVITY | Cooler | ||||
Supply: ~±€10M / TWh | Average climate | ||||
Networks: ~±€7M / TWh | Warmer | ||||
(1) Current operating income, incl. share in net income of entities accounted for using the equity method
-1.7 | -4.0 |
-6.5 | |
-14.8 |
H1 2019 | Supply: -0.7TWh - Networks: -1.6 TWh | |
Q1 | Q2 | |
+5.1 | ||
+2.5 | ||
-3.2 | ||
-7.7 |
12 | July 31st 2020 |
GBL ANALYSIS - KPI by global business line
Footnote hydro and biomass
Installed capacity by geography
Renewables
Total installed capacities @100% (GW) o/w | H1 2019 | H1 2020 | ||
Hydro (GW) | 16.2 | 16.2 | ||
Wind onshore (GW) | 6.3 | 8.5 | ||
Solar (GW) | 2.1 | 2.6 | ||
Other (GW) | 0.2 | 0.3 | ||
Total installed capacities net ownership (GW) | ||||
Capa commissioned @100% (GW) | 1.5 | 0.9 | ||
Capa under contruction @100% (GW) | 5.3 | 5.5 | ||
DBSO Margins | 16 | 6 | ||
CNR - Production (TWh) | 7.2 | 7.9 | ||
CNR - Achieved prices (€/MWh) | 41.0 | 42.8 | ||
Brazil - GSF (%) | 121% | 92% | ||
Brazil - PLD (BRL/MWh) | 207.8 | 132 | ||
- Excluding hydro capacities managed by Thermal business line (mainly pumped storage) and client solutions capacities
- % of consolidation for full and joint operations affiliates and % holding for equity consolidated companies
- ENGIE ownership
At 100% | ||||||
9% | ||||||
1% | ||||||
27.5 GW | 59% | |||||
31% | ||||||
installed | ||||||
At % consolidation(2)
9%
1%
29% 19.8 GW
installed 61%
Net ownership(3)
11%
1%55%
32% 15.3 GW
installed
Hydro Wind Other RES
13
in MW | Hydro | Wind | Other | Solar |
RES | ||||
EUROPE | 3,958 | 5,005 | - | 1,096 |
NORTH AMERICA | - | 1,522 | 73 | 72 |
LATIN AMERICA | 12,202 | 1,001 | 99 | 664 |
MIDDLE EAST, | - | 670 | - | 118 |
TURKEY & AFRICA | ||||
ASIA | - | 137 | 85 | 606 |
OCEANIA | - | 165 | - | - |
TOTAL | 16,159 | 8,499 | 257 | 2,556 |
in MW | Hydro | Wind | Other | Solar |
RES | ||||
EUROPE | 3,902 | 3174 | - | 471 |
NORTH AMERICA | - | 977 | 73 | 60 |
LATIN AMERICA | 8,241 | 975 | 89 | 601 |
MIDDLE EAST, | - | 302 | - | 52 |
TURKEY & AFRICA | ||||
ASIA | - | 63 | 30 | 606 |
OCEANIA | - | 165 | - | - |
TOTAL | 12,143 | 5,656 | 192 | 1,790 |
in MW | Hydro | Wind | Other | Solar |
RES | ||||
EUROPE | 2,364 | 2,787 | - | 441 |
NORTH AMERICA | - | 977 | 67 | 60 |
LATIN AMERICA | 6,123 | 693 | 61 | 549 |
MIDDLE EAST, | - | 302 | - | 52 |
TURKEY & AFRICA | ||||
ASIA | - | 63 | 30 | 606 |
OCEANIA | - | 119 | - | - |
TOTAL | 8,487 | 4,941 | 158 | 1,708 |
Solar
July 31st 2020
GBL ANALYSIS - KPI by global business line
As of 06/30/2020, in % of consolidation
Installed capacity(1) - in MW | Electricity output(1) - in GWh | |||||||||||||||
Hydro | Wind | Solar | Other RES | TOTAL | Hydro | Wind | Solar | Other RES | TOTAL | |||||||
FRANCE | 3,832 | 1,741 | 398 | - | 5,970 | 8,920 | 2,030 | 217 | - | 11,166 | ||||||
REST OF EUROPE | 70 | 1,434 | 74 | - | 1,578 | 202 | 1,544 | 48 | - | 1,794 | ||||||
Benelux | - | 310 | 32 | - | 342 | - | 416 | 14 | - | 430 | ||||||
Rest of Europe | 70 | 1,124 | 42 | - | 1,236 | 202 | 1,128 | 35 | - | 1,364 | ||||||
LATIN AMERICA | 8,241 | 975 | 601 | 89 | 9,906 | 12,107 | 1,333 | 413 | 216 | 14,069 | ||||||
Brazil | 7,942 | 901 | 292 | 89 | 9,225 | 11,285 | 1,245 | 240 | 216 | 12,986 | ||||||
Chile | 44 | 48 | 55 | - | 147 | 34 | 31 | 62 | - | 128 | ||||||
Mexico | - | 26 | 213 | - | 239 | - | 56 | 65 | - | 121 | ||||||
Peru | 255 | - | 41 | - | 295 | 788 | - | 46 | - | 834 | ||||||
USA & CANADA | - | 977 | 60 | 73 | 1,110 | - | 1,578 | 56 | 222 | 1,864 | ||||||
MIDDLE EAST, ASIA & AFRICA | - | 365 | 658 | 30 | 1,053 | - | 839 | 679 | 125 | 1,643 | ||||||
Middle East, South | - | - | - | - | - | - | - | - | - | - | ||||||
and Central Asia and Turkey | ||||||||||||||||
Asia - Pacific | - | 228 | 606 | 30 | 863 | - | 285 | 676 | 125 | 1,085 | ||||||
Africa | - | 302 | 52 | - | 354 | - | 554 | 4 | 558 | |||||||
TOTAL | 12,143 | 5,656 | 1,790 | 192 | 19,781 | 21,229 | 7,323 | 1,413 | 563 | 30,537 | ||||||
(1) Excluding hydro managed by Thermal business line (mainly pumped storage) and client solutions capacities and output
14 | July 31st 2020 |
GBL ANALYSIS - KPI by global business line
As of 06/30/2020, at 100%
In MW | Country | 2020 | 2021 | 2022 | TOTAL | ||
WIND OFF SHORE | 8 | 487 | 953 | 1,448 | |||
o/w | Moray East | UK | - | - | 953 | 953 | |
Seamade Seastar 1 | Belgium | - | 487 | - | 487 | ||
Others | 8 | - | - | 8 | |||
WIND ON SHORE | 1,603 | 652 | - | 2,255 | |||
o/w | Campo Largo | Brasil | 109 | 252 | - | 361 | |
Prairie Hill | USA | 300 | - | - | 300 | ||
Triple H | USA | 250 | - | - | 250 | ||
King Plains | USA | 248 | - | - | 248 | ||
Las Lomas | USA | 202 | - | - | 202 | ||
Vivid Solaire | India | 100 | 100 | - | 200 | ||
Dakota Range III | USA | 151 | - | - | 151 | ||
Calama | Chile | - | 151 | - | 151 | ||
Eolica Tres Mesas | Mexico | 101 | - | - | 101 | ||
Others | 142 | 149 | - | 291 | |||
SOLAR | 864 | 811 | 1,675 | ||||
o/w | Longdraw | USA | 225 | - | - | 225 | |
Tamaya & Capricornio | Chile | - | 202 | - | 202 | ||
Anson Solar | USA | 200 | - | - | 200 | ||
Nueva Xcala | Mexico | - | 200 | - | 200 | ||
Electro Solaire | India | - | 200 | - | 200 | ||
Engie Green France | France | 42 | 104 | - | 146 | ||
AKIN 1 | Mexico | 100 | - | - | 100 | ||
ABRIL | Mexico | 99 | - | - | 99 | ||
Scaling Solar Kael & Kaho | Senegal | 60 | - | - | 60 | ||
Bluestone Farms Solar | USA | 50 | - | - | 50 | ||
Others | 88 | 105 | - | 193 | |||
OTHER RES | - | 91 | - | 91 | |||
Rantau Dedap - Indonesia | - | 91 | - | 91 | |||
TOTAL | 2,476 | 2,041 | 953 | 5,470 | |||
(1) Excluding Client Solutions capacities | |||||||
15 | July 31st 2020 |
GBL ANALYSIS - KPI by global business line
Thermal | Nuclear |
Capacities @100% (GW) | H1 2019 | H1 2020 | |||
Installed contracted capacities (GW) | 39.2 | 39.3 | |||
Installed merchant capacities (GW) | 26.6 | 23.7 | |||
Production @100% (TWh) | |||||
Contracted | 99.0 | 95.3 | |||
Merchant | 27.9 | 26.9 | |||
H1 2019 | H1 2020 | |||
Installed capacities @100% (GW) | 6.2 | 6.2 | ||
Production Total @ conso Share (TWh) | 20.1 | 18.9 | ||
Belgium (TWh) @100% | 19.3 | 17.1 | ||
France (TWh) @100% | 3.5 | 3.5 | ||
Drawing rights (TWh) @ 100% | -2.7 | -1.7 | ||
Availability Belgium (%) @100% | 75% | 66% | ||
Nuke Achieved Price BE (€/MWh) | 36 | 38 | ||
16 | July 31st 2020 |
GBL ANALYSIS - KPI by global business line
As of 06/30/2020, in % of consolidation
Total capacity(1) - in MW
Natural gas | Hydro(2) | Nuclear | Coal | Other Thermal(2) | TOTAL | ||||
REST OF EUROPE(4) | 11,712 | 3,410 | 6,163 | 162 | 1,329 | 22,775 | |||
Benelux | - | - | 6,163 | - | - | 6,163 | |||
Other Rest of Europe | 11,712 | 3,410 | - | 162 | 1,329 | 16,613 | |||
LATIN AMERICA | 1,806 | - | - | 2,439 | 1,218 | 5,463 | |||
Brazil | - | - | - | 1,097 | - | 1,097 | |||
Chile | 629 | - | - | 1,218 | 54 | 1,901 | |||
Mexico | 260 | - | - | - | - | 260 | |||
Peru | 917 | - | - | 125 | 1,164 | 2,205 | |||
USA & CANADA | 672 | - | - | - | - | 672 | |||
MIDDLE EAST, ASIA & AFRICA | 11,726 | - | - | 438 | 381 | 12,545 | |||
Middle East, South | 9,929 | - | - | - | - | 9,929 | |||
and Central Asia and Turkey | |||||||||
Asia - Pacific | 1,797 | - | - | - | - | 1,797 | |||
Africa | - | - | - | 438 | 381 | 819 | |||
TOTAL | 25,915 | 3,410 | 6,163 | 3,038 | 2,928 | 41,455 | |||
- Excluding Client Solutions capacities / output
- Biomass included
- Pumped storage (plus 143 MW of other hydro capacities managed by BU Generation Europe)
- All Thermal assets of BU Generation Europe are classified within Rest of Europe
17
Electricity output(1) - in GWh
Natural gas | Hydro(3) | Nuclear | Coal | Other Thermal(2) | TOTAL | ||
15,208 | 1,199 | 18,726 | 31 | 1,778 | 37,092 | ||
- | - | 18,876 | - | - | 18,876 | ||
15,208 | 1,199 | - | 31 | 1,778 | 18,216 | ||
3,838 | - | - | 4,422 | 34 | 8,294 | ||
- | - | - | 2,119 | 9 | 2,128 | ||
1,239 | - | - | 2,303 | 25 | 3,567 | ||
876 | - | - | - | - | 876 | ||
1,723 | - | - | - | 1 | 1,723 | ||
2,197 | - | - | - | - | 2,197 | ||
26,523 | - | - | 1,436 | 234 | 28,194 | ||
23,470 | - | - | - | 22 | 23,492 | ||
3,053 | - | - | - | 73 | 3,127 | ||
- | - | - | 1,436 | 139 | 1,575 | ||
47,766 | 1,199 | 18,876 | 5,889 | 2,047 | 75,777 | ||
July 31st 2020
REPORTABLE SEGMENTS - France
COI H1 2020 vs H1 2019 (€M)
-9 | -102 | |
-260 | ||
1,610 | 1,601 | |
-23% |
1,239
France excl. | |
212 | |
Infrastructures | |
1,027 | France |
Infrastructures | |
H1 2019 | Scope | France | France | H1 2020 |
& Forex | Infrastructures | excl. | ||
Infrastructures |
Other KFIs (€M)
H1 2019 | H1 2020 | 20/19 | org | |
Revenues | 11,131 | 10,112 | -9.2% | -11.0% |
COI including share in Net Income of Associates | 1,610 | 1,239 | -23.0% | -22.8% |
Gross CAPEX(1) | 1,317 | 1,040 | ||
Capital Employed(2) | 27,329 | 27,186 |
- Net of DBSO partial sell-downs
- End of Period
18 | July 31st 2020 |
REPORTABLE SEGMENTS - France
COI H1 2020 vs H1 2019 (€M)
-10 | ||||
+42 | ||||
482 | 472 | -215 | 212 | |
Supply | ||||
68 | ||||
-87 | ||||
-57% | 105 | Renewables | ||
Client | ||||
40 | ||||
solutions |
H1 2019 | Scope | Client | Renewables Supply | H1 2020 |
Solutions |
- Scope: Renewables France disposals, Client Solutions acquisitions
- Client Solutions: Covid-19 impact in Projects and Recurring Services, and negative climate/price effect
- Renewables: higher hydro generation and better Wind & Solar production
- Supply: Negative climate and Covid-19 impacts
Lean 2021
Other KFIs (€M)
H1 2019 | H1 2020 | 20/19 | org | |||
Revenues | 8,161 | 7,284 | -10.8% | -13.2% | ||
COI including share in Net Income of Associates | 482 | 212 | -56.0% | -57.1% | ||
Gross Capex(3) | 558 | 253 | ||||
Capital Employed(4) | 7,157 | 7,528 | ||||
(1) | Excluding Giants sales | |||||
(2) | At 100% | |||||
(3) | Net of DBSO partial sell-downs | |||||
(4) | End of Period |
KPIs
H1 2019 | H1 2020 | |
Electricity sales(1) (TWh) | 20.4 | 21.6 |
Gas sales(1) (TWh) | 51.2 | 43.3 |
Renewable - Installed capacity2) (GW) | 7.0 | 7.4 |
Renewable - Electricity production(2) (TWh) | 11.0 | 12.6 |
CNR achieved price (€/MWh) | 41.0 | 42.8 |
CNR hydro production (TWh) | 7.2 | 7.9 |
Services - Net commercial development (€M/y) | 60 | 53 |
Installations - Backlog (€M) | 4,995 | 5,684 |
19 | July 31st 2020 |
REPORTABLE SEGMENTS - France
COI H1 2020 vs H1 2019 (€M)
+46 | 1,027 | |||
+3 | ||||
164 | Storengy | |||
-147 | -3 | 125 | ||
Elengy | ||||
38 | ||||
1,128 | 1,128 | 572 | GRDF | |
292 | GRTgaz |
H1 2019 | Scope | GRTgaz | GRDF | Elengy | Storengy H1 2020 |
Other KFIs (€M)
H1 2019 | H1 2020 | 20/19 | org | |
Revenues | 2,969 | 2,828 | -4.7% | -4.8% |
COI including share in Net Income of Associates | 1,128 | 1,027 | -8.9% | -9.0% |
Gross Capex(2) | 759 | 787 | ||
Capital Employed(3) | 20,172 | 19,658 |
- Regulated Asset Base as of 01/01
- Net of DBSO partial sell-downs
- End of Period
- Tariffs & regulation: annual revision for distribution (+0.5% on July 1, 2019) and transmission (+4.6% on April 1, 2019)
- Transmission: 363 TWh transported vs 389 TWh in H1 '19
- Distribution: warm temperature (-17 TWh). Covid-19 impacting volumes and Opex. Over 5.6 million Gazpar smart meters implemented, 145 biomethane sites connected
- Storage: auction campaign successful ; Commercial operation for all UK caverns
Lean 2021
KPIs
H1 2019 | H1 2020 | |
Gas distributed (TWh) | 163.3 | 142.0 |
Distribution RAB(1) (€bn) | 14.6 | 14.8 |
Transmission RAB(1) (€bn) | 8.9 | 8.8 |
LNG Terminals RAB(1) (€bn) | 1.0 | 0,9 |
Storage RAB(1) (€bn) | 3.7 | 3.9 |
Temperature effect (TWh) | -1.6(2) | -18.7 |
20 | July 31st 2020 |
REPORTABLE SEGMENTS - Rest of Europe
Negative temperature and COVID effects on Client Solutions and Supply activities partly offset by better performance in thermal and nuclear generation
COI H1 2020 vs H1 2019 (€M) | |||||||||
-15 | +109 | 190 | |||||||
168 | |||||||||
291 | 277 | +63 | -72 | 160 | Thermal | ||||
61 | Supply | ||||||||
Networks | |||||||||
-184 | +2 | 56 | |||||||
RES | |||||||||
-27 | 44 | ||||||||
-45 | Client | ||||||||
-127 | Solutions | ||||||||
Nuke | |||||||||
H1 2019 | Scope | Cl. Sol. | Netw. | RES | Therm. | Nuke | Supply | H1 2020 | |
& Forex |
- Client Solutions: Negative Covid-19 impacts in projects and recurring services
- Networks : Negative climate and lower remuneration rate in Romania
- Thermal: higher capacity revenues & trading in the UK, Tirreno Power (Italy) performance and favorable spreads
- Nuclear: higher achieved prices
- Supply: negative climate effects and Covid-19 impacts mainly due to lower B2B volumes
Lean 2021
Other KFIs (€M)
H1 2019 | H1 2020 | 20/19 | org | |||
Revenues | 8,712 | 7,690 | -11.7% | -9.8% | ||
COI including share in Net Income of Associates | 291 | 168 | -42.2% | -40.5% | ||
Gross Capex(3) | 832 | 427 | ||||
Capital Employed(4) | 1,805 | 1,006 | ||||
(1) | Excludes Giants sales & contributive Group | |||||
(2) | At 100% | |||||
(3) | Net of DBSO partial sell-downs | |||||
(4) | End of Period |
KPIs
H1 2019 | H1 2020 | |
Electricity sales(1) (TWh) | 47.6 | 36.4 |
Gas sales(1) (TWh) | 66.4 | 65.6 |
Renewable - Electricity production(2) (TWh) | 2.0 | 2.6 |
Nuclear - Electricity production(2) (Engie share, TWh) | 19.3 | 17.1 |
Thermal - Electricity production(2) (TWh) | 21.5 | 21.0 |
Nuclear- plants availability (Belgium @100%) | 75.0% | 65.8% |
Outright nuclear achieved price (€/MWh) | 35.5 | 38.4 |
Romania - Gas distributed (TWh) | 26.7 | 24.9 |
21 | July 31st 2020 |
REPORTABLE SEGMENTS - Latin America
TAG positive scope effect offset by the negative impacts of forex BRL/EUR, positive '19 LD's in Chile, lower thermal COI in Peru
COI H1 2020 vs H1 2019 (€M) | ||||||||||||
+12 | ||||||||||||
696 | ||||||||||||
-15 | Mexico | |||||||||||
-75 | -28 | -18 | 71 | & Others | ||||||||
72 | Peru | |||||||||||
122 | Chile |
820 | 805 |
-15% |
431 Brazil
H1 2019 | Forex | Brazil | Chile | Peru | Mexico H1 2020 |
& Scope | & Others |
- FX & Scope: acquisition of TAG offset by negative FX on
BRL - Brazil: lower PLD(5) and demand offset by COD in onshore Wind and price indexation of contracts
- Chile: mainly positive one-off in 2019 related to IEM plant delay Liquidated Damages
- Peru: lower power demand and PPA contracts renewed at lower prices
Lean 2021
Other KFIs (€M)
H1 2019 | H1 2020 | 20/19 | org | |
Revenues | 2,601 | 2,294 | -11.8% | -1.7% |
COI including share in Net Income of Associates | 820 | -15.1% | -15.0% | |
696 | ||||
Gross Capex(3) | 2,206 | 641 | ||
Capital Employed(4) | 11,462 | 9,733 |
- Sales figures are consolidated according to accounting standards
- At 100%
- Net of DBSO partial sell-downs
- End of Period
- PLD = spot price
KPIs
H1 2019 | H1 2020 | |
Electricity sales(1) (TWh) | 32.9 | 34,3 |
Gas sales(1) (TWh) | 21.4 | 21.8 |
Electricity production(2) (TWh) | 39.3 | 30.5 |
Latam: Gas volume transported (MGJ) | 73 | 71 |
Brazil - Average PLD(5) price (BRL/MWh) | 208 | 132 |
Brazil - GSF (%) | 120.8 | 98.4 |
22 | July 31st 2020 |
REPORTABLE SEGMENTS - USA & Canada
Organic variance impacted by difficulties in Supply activities and termination of an LNG contract
COI H1 2020 vs H1 2019 (€M) | ||||
+7 | ||||
+22 | ||||
+16 | ||||
-7 | -60 | |||
RES (+34) | ||||
38 | ||||
22 | Thermal (+16) | |||
-172% | Client Sol. (-20) | |||
Supply & | ||||
1 | Others (-30) | |||
H1 2019 Scope & | Client | RES | Thermal Supply & H1 2020 |
Forex | Solutions | Others |
- Scope: mainly acquisition of Conti (Client Solutions US)
- Client Solutions: performance on services activities affected by Covid-19
- Renewables: contributions from new wind projects commissioned in 2019 and H1 2020
- Thermal: mainly lower costs and amortization
- Supply & others : Covid impact and '19 one offs in supply activities, and termination of a LNG contract
Lean 2021
Other KFIs (€M)
H1 2019 | H1 2020 | 20/19 | org | |
Revenues | 2,095 | 2,052 | -2.0% | -15.9% |
COI including share in Net Income of Associates | 22 | 1 | -97.6% | -171.6% |
Gross Capex(3) | 508 | 723 | ||
Capital Employed(4) | 3,550 | 4,016 |
KPIs
H1 2019 | H1 2020 | |
Electricity sales(1) (TWh) | 19.5 | 19.6 |
Installed capacity(2) (GW) | 3.7 | 3.2 |
Renewable - Installed capacity(2) (GW) | 1.1 | 1.7 |
Electricity production(2) (TWh) | 8.1 | 7.8 |
Retail - B2B Power volumes (TWh) | 19.9 | 20.2 |
- Sales figures are consolidated according to accounting standards
- At 100%
- Net of DBSO partial sell-downs
- End of Period
23 | July 31st 2020 |
REPORTABLE SEGMENTS - Middle-East, Africa & Asia
COI H1 2020 vs H1 2019 (€M)
- Scope: mainly Glow disposal on March 14, 2019
- MESCAT: Positive one-offs in 2019, Baymina (CCGT, Turkey) mothballed in 2020, partly offset by one Indian Solar park COD, increased results from Tabreed (District heating and cooling Middle East) and Fadhili (CCGT, Saudi Arabia)
-83 | -3 | -17 | -31 | 133243 | ||
378 | ||||||
295 | -17% | 232 | MESCAT | |||
20 -9 | Asia - Pacific | |||||
Africa | ||||||
H1 2019 | Scope | MESCAT | Africa | Asia - | H1 2020 | |
& FX | Pacific |
settlement
- Africa: Lower results in Supply (Fenix) and positive '19 one offs in Thermal (Safi liquidated damages)
- APAC: lower results in Supply due to mild-weather
in Q1 2020 and lower margins in B2B, lower performance in Thermal with lower volumes and prices in Australia
Lean 2021
Other KFIs (€M) | KPIs |
H1 2019 | H1 2020 | 20/19 | org | |
Revenues | 1,532 | 1,158 | -24.4% | -8.2% |
COI including share in Net Income of Associates | 378 | -35.7% | -17.2% | |
243 | ||||
Gross Capex(4) | 299 | -278 | ||
Capital Employed(5) | 3,633 | 3,210 |
- Sales figures are consolidated according to accounting standards
- At 100%
- Million Imperial Gallons per Day - installed capacity at 100%
- Net of DBSO partial sell-downs
- End of Period
H1 2019 | H1 2020 | |
Electricity sales(1) (TWh) | 8.9 | 7.4 |
Gas distributed (TWh) | 5.2 | 5.7 |
Installed capacity(2) (GW) | ||
41.9 | 39.2 | |
Electricity production(2) (TWh) | 95.0 | 90.9 |
Middle-East - Water desalination capacity (MIGD)(3) | 1 225 | 1 225 |
24 | July 31st 2020 |
REPORTABLE SEGMENTS - OTHERS
COI H1 2020 vs H1 2019 (€M)
+65 | |||||||||||||||||||||
15 | 6 | +30 | |||||||||||||||||||
-7 | |||||||||||||||||||||
-8 | |||||||||||||||||||||
-114 | |||||||||||||||||||||
-179 | |||||||||||||||||||||
-159 | |||||||||||||||||||||
H1 2019 Scope | GEM Tractebel GTT | E&C | Others(1) H1 2020 | ||||||||||||||||||
& Forex | |||||||||||||||||||||
Other KFIs (€M) | |||||||||||||||||||||
H1 2019 | H1 2020 | 20/19 | org | ||||||||||||||||||
Revenues | 4,174 | 4,126 | -1.2% | -1.5% | |||||||||||||||||
COI including share in Net Income of Associates | 15 | -179 | NA | NA | |||||||||||||||||
Gross Capex | 376 | 458 | |||||||||||||||||||
Capital Employed(2) | 6,546 | 6,535 |
- Including Corporate, GBS, Innovation & New Businesses and SUEZ
- End of Period
25
- GEM: Performance of market activities in Europe and Asia, notwithstanding significant Covid-19 impact
- Tractebel: Lower activities in Europe
- GTT : 4 orders received in Q1; activities not impacted so far by Covid-19
- E&C: negative climate effects and Covid-19 impacts with lower volumes
- Others: Suez (Covid-19,-€130M), Engie Impact and new businesses
Lean 2021
KPIs
H1 2019 | H1 2020 | |
GEM - Gas sales (TWh) | 23.4 | 33.8 |
GEM - Electricity sales (TWh) | 10.6 | 13.4 |
E&C - Gas sales (TWh) | 21.5 | 18.3 |
E&C - Electricity sales (TWh) | 14.4 | 13.9 |
Tractebel Engineering - Backlog (€M) | 813 | 742 |
July 31st 2020
FINANCIAL APPENDICES - Scope & Forex
Aquisitions
Certinergy - France (FRANCE) - Full consolidation since 01/24/2019
CN solutions - France (FRANCE) - Full consolidation since 01/24/2019
ENDEL SRA - France (FRANCE) - Full consolidation since 02/01/2019
OTTO Luft & Klimatechnik GmbH - Germany (REST OF EUROPE) - Full consolidation since 02/01/2019 Systecon - USA (USA & CANADA) - Full consolidation since 02/08/2019
RCS Engineering - Singapore (MIDDLE EAST, ASIA & AFRICA) - Full consolidation since 02/13/2019
Tiko - Switzerland (REST OF EUROPE) - Full consolidation since 03/01/2019
Conti Service Group - USA (USA & CANADA) - Full consolidation since 05/07/2019 Priora - Switzerland (REST OF EUROPE) - Full consolidation since 06/01/2019 TAG - Brazil (LATIN AMERICA) - Equity method since 13/06/2019
Pierre Guerin - France (FRANCE) - Full consolidation since 07/01/2019 Powerlines Group - Austria (FRANCE) - Full consolidation since 10/01/2019
Mobisol - Africa ((MIDDLE EAST, ASIA & AFRICA) - Full consolidation since 01/01/2020 University of IOWA partnership - USA (USA & CANADA) - Equity method since 03/20/2020
Disposals/partial disposals
Glow Group -Thailand (MIDDLE EAST, ASIA & AFRICA)
Full consolidation until 06/29/2018
Held for sale from 06/30/2018 to 03/14/2019
German & Dutch coal assets (REST OF EUROPE)
Full consolidation until 04/25/2019
Held for sale from 04/26/2019 to 11/29/2019
ENGIE Bioz (ex. Vol-V Biomasse) - France (FRANCE)
Full consolidation since 09/01/2019
Held for sale from 12/20/2019
Indian solar assets
Full consolidation until 01/16/2020
Held for sale from 01/17/22020
Renvico - France/Italy (FRANCE/REST OF EUROPE)
Full consolidation since 03/10/2020
Held for sale from 03/10/2020
Altiservice - France (FRANCE)
Sale from 04/18/2019
Astoria 1 & 2 partnership - USA (USA & CANADA)
Sale from 06/18/2020
26 | July 31st 2020 |
FINANCIAL APPENDICES - Scope & Forex
H1 2020 EBITDA/COI Breakdown by currency
0.32 0.06 | 0.03 | 0.23 | |
0.02 | |||
0.52 | -0.02 | ||
FX | |||
FX | |||
51% | |||
35% | EBITDA COI(1) | 0.43 | |
€4.5bn | 0.65 | H1 2020 | H1 2020 | €2.2bn | ||||||||||||||||||
EUR | EUR | EUR | EUR | |||||||||||||||||||
2.9 | 65% | 49% | 1.07 | |||||||||||||||||||
EUR | USD | BRL | GBP | AUD | Other | 0.43 | ||||||||||||||||
Impact of foreign exchange evolution | ||||||||||||||||||||||
GBP | USD | BRL | AUD | |||||||||||||||||||
In €M 20/19 | GBP | USD | BRL | AUD | Others | TOTAL | ||||||||||||||||
REVENUES | -2 | 89 | -219 | -27 | -95 | -255 | H1 2020 average(2) rate | 1.14 | 0.91 | 0.18 | 0.60 | |||||||||||
EBITDA | - | 17 | -107 | -4 | -20 | -113 | H1 2019 average rate | 1.14 | 0.89 | 0.23 | 0.62 | |||||||||||
Average rate | -0.1% | +2.5% | -19.9% | -4.6% | ||||||||||||||||||
COI(1) | - | 12 | -88 | -3 | -15 | -94 | ||||||||||||||||
Closing rate(3) at 06/30/2020 | 1.10 | 0.89 | 0.16 | 0.61 | ||||||||||||||||||
TOTAL NET DEBT | -34 | 2 | -602 | -4 | -28 | -667 | ||||||||||||||||
Closing rate at 12/31/2019 | 1.18 | 0.89 | 0.22 | 0.63 | ||||||||||||||||||
TOTAL EQUITY | 136 | -15 | -61 | 5 | -110 | -46 | ||||||||||||||||
Closing rate | -6.8% | +0.3% | -26.2% | -2.1% | ||||||||||||||||||
- After share in net income of equity method entities
- The average rate applies to the income statement and to the cash flow statement
- The closing rate applies to the balance sheet
27 | July 31st 2020 |
FINANCIAL APPENDICES - Balance sheet, P/L & cash flow statement
In €bn
ASSETS | 06/30/2019 | 06/30/2020 | |
NON CURRENT ASSETS | 99.3 | 95.7 | |
CURRENT ASSETS | 60.5 | 59.5 | |
of which cash & equivalents | 10.5 | 13.3 | |
TOTAL | 159.8 | 155.2 | |
LIABILITIES & EQUITY | 06/30/2019 | 06/30/2020 | |
Equity, Group share | 33.1 | 30.8 | |
Non-controlling interests | 5.0 | 4.8 | |
TOTAL EQUITY | 38.0 | 35.6 | |
Provisions | 25.1 | 25.7 | |
Financial debt | 38.5 | 40.7 | |
Other liabilities | 58.1 | 53.2 | |
TOTAL | 159.8 | 155.2 | |
H1 2020 Net Debt €25.1bn = Financial debt of €40.7bn - Cash & equivalents of €10.5bn - Other financial Assets of €2.0bn (incl. non-current assets) - Derivative instruments hedging items included in the debt of (€0.4bn)
28 | July 31st 2020 |
FINANCIAL APPENDICES - Balance sheet, P/L & cash flow statement
Details of some financial assets as of 06/30/2020
Provisions as of 06/30/2020
Investments
Other financial assets
Others
in associates
- joint ventures €8.2bn
Assets from contracts with customers €7.2bn
€9.2bn
Financial assets
€36.9bn
- Equity instruments at fair value through equity
- Equity instruments at fair value through income
- Debt instruments at fair value through equity
- Debt instruments at fair value through income
- Loans and receivables at amortized cost
Trade and other receivables, net
€12.3bn
1.0
0.3
1.2
0.9
5.8
€2.3bn
Dismantling | Pensions |
€7.3bn | €8.1bn |
Total provisions
€25.7bn
Recycling and storage
- site rehabilitation €8.0bn
29 | July 31st 2020 |
FINANCIAL APPENDICES - Balance sheet, P/L & cash flow statement
In €M | H1 2019(1) | H1 2020 |
REVENUES | 30,245 | 27,433 |
Purchases and operating derivatives | -20,484 | -17,606 |
Personnel costs | -5,751 | -5,858 |
Amortization, depreciation, and provisions | -2,126 | -2,281 |
Taxes | -747 | -632 |
Other operating income | 763 | 536 |
Share in net income of equity method entities | 276 | 209 |
CURRENT OPERATING INCOME INCLUDING OPERATING MTM & SHARE IN NET INCOME | 2,177 | 1,800 |
OF EQUITY METHOD ENTITIES | ||
Impairment, restructuring, disposals and others | 1,220 | -100 |
INCOME FROM OPERATING ACTIVITIES | 3,397 | 1,700 |
Financial result
of which recurring cost of net debt of which cost of lease liabilities
of which non-recurring items included in financial income/(loss)
of which others
-719 | -913 |
-337 | -366 |
-22 | -24 |
-112 | -298 |
-249 | -225 |
Income tax | -221 | -431 |
Non-controlling interests | 373 | 332 |
NET INCOME/(LOSS) GROUP SHARE | 2,084 | 24 |
EBITDA | 5,321 | 4,478 |
CURRENT OPERATING INCOME (COI) | 3,135 | 2,169 |
(1) H1 2019 pro forma (Change in commodity derivatives presentation and COI excluding non recurring share in net income of equity method entities)
30 | July 31st 2020 |
FINANCIAL APPENDICES - Balance sheet, P/L & cash flow statement
In €M | H1 2019 | H1 2020 |
Gross cash flow before financial loss and income tax | 5,202 | 4,190 |
Income tax paid (excl. income tax paid on disposals) | -205 | -235 |
Change in operating working capital | -2,038 | -733 |
CASH FLOW FROM (USED IN) OPERATING ACTIVITIES | 2,959 | 3,221 |
Net tangible and intangible investments | -2,996 | -2,467 |
Financial investments | -2,293 | -475 |
Disposals and other investment flows | 2,529 | 566 |
CASH FLOW FROM (USED IN) INVESTMENT ACTIVITIES | -2,759 | -2,558 |
Dividends paid | -2,196 | -264 |
Balance of reimbursement of debt/new debt | 2,263 | 3,187 |
Net interests paid on financial activities | -349 | -316 |
Capital increase/hybrid issues | -20 | 179 |
Other cash flows | -591 | -530 |
CASH FLOW FROM (USED IN) FINANCIAL ACTIVITIES | -894 | 2,257 |
Impact of currency and other | -10 | -338 |
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD | 8,700 | 10,519 |
TOTAL CASH FLOWS FOR THE PERIOD | -705 | 2,763 |
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | 7,995 | 13,282 |
31 | July 31st 2020 |
FINANCIAL APPENDICES - Profit & Loss details
In €M | H1 2019(1) | H1 2020 |
EBITDA | 5,321 | 4,478 |
of which share in net recurring income of equity method entitIies | 245 | 321 |
Depreciation, amortization and others | -2,185 | -2,309 |
CURRENT OPERATING INCOME | 3,135 | 2,169 |
Financial result | -607 | -615 |
of which recurring cost of net debt | -337 | -366 |
of which cost of lease liabilities | -22 | -24 |
of which others | -249 | -225 |
Income tax | -630 | -463 |
Non-controlling interests | -407 | -345 |
NET RECURRING INCOME/(LOSS), GROUP SHARE | 1,491 | 746 |
(1) H1 2019 pro forma (Change in commodity derivatives presentation and COI excluding non recurring share in net income of equity method entities)
32 | July 31st 2020 |
FINANCIAL APPENDICES - Profit & Loss details
In €M | H1 2019(1) | H1 2020 |
FRANCE excl. infrastructures | -27 | -55 |
FRANCE infrastructures | 18 | 93 |
Total France | -10 | 38 |
REST OF EUROPE | -35 | -75 |
LATIN AMERICA | -7 | 10 |
USA & CANADA | 4 | 1 |
MIDDLE EAST, ASIA & AFRICA | -9 | -12 |
OTHERS | 85 | 52 |
TOTAL PROVISIONS | 28 | 13 |
(1) H1 2019 pro forma (Change in commodity derivatives presentation and COI excluding non recurring share in net income of equity method entities)
33 | July 31st 2020 |
FINANCIAL APPENDICES - Profit & Loss details
In €M | H1 2019(1) | H1 2020 |
CURRENT OPERATING INCOME (COI) | 3,135 | 2,169 |
MtM | -989 | -257 |
Non-recurring share in net income of equity method entities | 31 | -112 |
COI INCLUDING OPERATING MtM AND SHARE IN NET INCOME | 2,177 | 1,800 |
OF EQUITY METHOD ENTITIES | ||
Impairment | -242 | -62 |
Restructuring costs | -77 | -64 |
Asset disposals & others | 1,540 | 27 |
INCOME FROM OPERATING ACTIVITIES | 3,397 | 1,700 |
Financial result | -719 | -913 |
Income tax | -221 | -431 |
Non-controlling interests | -373 | -332 |
NET INCOME GROUP SHARE | 2,084 | 24 |
(1) H1 2019 pro forma (Change in commodity derivatives presentation and COI excluding non recurring share in net income of equity method entities)
34 | July 31st 2020 |
FINANCIAL APPENDICES - Profit & Loss details
In €M | H1 2019(1) | H1 2020 |
NET INCOME GROUP SHARE | 2,084 | 24 |
MtM commodities | 989 | 257 |
Impairment | 242 | 62 |
Restructuring costs | 77 | 64 |
Asset disposals & others | (1,540) | (27) |
Financial result (non-recurring items) | 112 | 298 |
Share in net income of equity method entities | (31) | 112 |
(non-recurring items) | ||
Income tax on non-recurring items | (408) | (32) |
Non-controlling interests on above items | (34) | (13) |
NET RECURRING INCOME GROUP SHARE | 1,491 | 746 |
(1) H1 2019 pro forma (Change in commodity derivatives presentation and COI excluding non recurring share in net income of equity method entities)
35 | July 31st 2020 |
FINANCIAL APPENDICES - Profit & Loss details
In €M | H1 2019(1) | H1 2020 |
FRANCE excl. infrastructures | 36 | 43 |
FRANCE infrastructures | 42 | 51 |
Total France | 78 | 94 |
REST OF EUROPE | 63 | 44 |
LATIN AMERICA | 176 | 131 |
USA & CANADA | 5 | 6 |
MIDDLE EAST, ASIA & AFRICA | 52 | 17 |
OTHERS | 34 | 53 |
NON-CONTROLLING INTERESTS | 407 | 345 |
(1) H1 2019 pro forma (Change in commodity derivatives presentation and COI excluding non recurring share in net income of equity method entities)
36 | July 31st 2020 |
FINANCIAL APPENDICES - Profit & Loss details
In €M | H1 2019(1) | H1 2020 |
Consolidated income before tax and share | 2,402 | 577 |
in equity method entities | ||
Consolidated income tax | -221 | -431 |
Effective tax rate | 9.2% | 74.6% |
Recurring effective tax rate | 37.6% | 27.6% |
(1) H1 2019 pro forma (Change in commodity derivatives presentation and COI excluding non recurring share in net income of equity method entities)
37 | July 31st 2020 |
FINANCIAL APPENDICES - Profit & Loss details
In €M | H1 2019(1) | H1 2020 |
EBITDA | 5,321 | 4,478 |
Restructuring costs cashed out | -162 | -115 |
Provisions | -47 | -105 |
Share in net income of equity method entities | -245 | -321 |
Dividends and others | 337 | 254 |
CASH GENERATED FROM OPERATIONS BEFORE INCOME TAX | 5,202 | 4,190 |
AND WORKING CAPITAL REQUIREMENTS | ||
(1) H1 2019 pro forma (Change in commodity derivatives presentation and COI excluding non recurring share in net income of equity method entities)
38 | July 31st 2020 |
FINANCIAL APPENDICES - Cash flow details
From EBITDA to Free Cash Flow(1)
4.5 | 4.2 | |||
(0.3) | (0.2) | (0.2) | 3.0 | |
Restructuring | Tax | (0.7) | 2.0 | |
& others | Net | |||
cash expenses | ||||
financial expenses | WCR | (1.0) | ||
Maintenance | ||||
Capex |
H1 2020 | Cash generated from operations before | H1 2020 | H1 2020 |
EBITDA | income tax and working capital requirements | CFFO | FREE CASH FLOW |
Free Cash Flow (1) generation from H1 2019 to H1 2020
(1.0) | 1.3 | 0.1 | |||||||||||||||||
0.0 | Maintenance | 2.0 | |||||||||||||||||
1.6 | Operating | (0.0) | WCR | Capex | |||||||||||||||
cash flow | |||||||||||||||||||
Tax cash | Net financial | ||||||||||||||||||
expenses | expenses | ||||||||||||||||||
H1 2019 FCF | H1 2020 FCF | ||||||||||||||||||
(1) FCF = CFFO after maintenance capex |
39 | July 31st 2020 |
FINANCIAL APPENDICES - Cash flow details
€3.0bn
Financial 1.1
Development(1) 1.1
⚫ Renvico | ~€0.2bn |
⚫ Iowa university | ~€0.2bn |
⚫ Fosmax (Elengy) | ~€0.2bn |
⚫ Other investments | ≤€0.1bn each |
⚫ US Wind & Solar | ~ €0.5bn |
⚫ GRDF | ~ €0.2bn |
⚫ ENGIE Brasil (Campo Largo) | ~ €0.1n |
⚫ Solar park Mexico | ~ €0.1bn |
⚫ Engie Green (Wind & Solar) | ~€0.1bn |
⚫ EECL - New unit generation | ~€0.1bn |
⚫ Other investments | <€0.07bn each |
Maintenance 1.0
Synatom -0.2(2)
- Net of DBSO proceeds and tax equity proceeds
- Of which 0.3bn investment in the nuclear funding and -0.5bn recovery of third-party loans
40
July 31st 2020
CREDIT
Bridge financial to economic net debt (€bn)
2019 | 2020 | |
EBITDA 12 months rolling | 10.4 | 9.5 |
IFRS FINANCIAL NET DEBT | 25.9 | 25.1 |
IFRS FND / EBITDA | 2.5x | 2.6x |
ARO provisions | 15.2 | 15.4 |
Post-employment provisions (minus deferred tax assets) w/o | 3.2 | 3.5 |
regulated subsidiaries | ||
(-) Nuke dedicated assets | (3.2) | (2.8) |
ECONOMIC NET DEBT | 41.1 | 41.1 |
ECONOMIC NET DEBT / EBITDA | 4.0x | 4.3x |
Economic Net Debt incorporates
additional commitments monitored
by the group, in line with rating agencies adjustments - although differences in definitions exist
41 | July 31st 2020 |
CREDIT | FINANCIAL APPENDICES |
Split of gross debt(1)
Excluding Leases(5)
Bank borrowings 4.5 | ||
Other borrowings 0.1 | ||
Drawn credit lines 0.2 | €36.7bn | Bonds 26.7 |
NEU CP(3) / US CP 5.3
AVERAGE COST OF GROSS DEBT: 2.38% VS 2.70% | as of |
12/31/2019 |
Debt maturity profile(2)
Other | Bank borrowings | Bonds |
23.5
10.4 | Undrawn | 18.3 |
credit | 1.8 | |
lines(2)
Cash(4) | 16.4 | ||||||||||||
13.1 | 1.9 | 3.4 | 3.0 | ||||||||||
0.9 | 2.3 | ||||||||||||
1.5 | |||||||||||||
0.6 | |||||||||||||
0.5 | 0.5 | 0.3 | 0.3 | ||||||||||
0.4 | 2.6 | 2.6 | |||||||||||
2.0 | |||||||||||||
1.4 | 1.1 | ||||||||||||
0.5 | |||||||||||||
06/2020 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||||||
Liquidity | and beyond |
AVERAGE NET DEBT MATURITY: 11.3 years
- Without IFRS 9 (+€1.3bn) without bank overdraft (+€0.7bn)
- Excluding/net of €5.3bn of NEU CP/US CP
- Negotiable European Commercial Paper
- Cash & cash equivalents (€13.3bn), plus financial assets qualifying or designated at faire value through income (€0.6bn), net of bank overdraft (€0.7bn)
- Financial and operational leases (+€2.4bn)
42 | July 31st 2020 |
CREDIT | FINANCIAL APPENDICES |
EUR
77%
Fixed rates 91%
€22.6bn | €22.6bn | |
Capped | ||
rates 4% | ||
Floating rates | ||
5% | BRL | |
7% |
(1) After hedging and without leases
USD 17%
43 | July 31st 2020 |
CSR | FINANCIAL APPENDICES |
- GHG emissions from electricity production
- Renewable electricity production capacities
- Rate of female managers
- Adherence to the B Team principles of responsible taxation recognized by the World Benchmarking Alliance
44 | July 31st 2020 |
Forward-Looking statements
This communication contains forward-looking information and statements. These statements include financial projections, synergies, cost-savings and estimates, statements regarding plans, objectives, savings, expectations and benefits from the transactions and expectations with respect to future operations, products and services, and statements regarding future performance. Although the management of ENGIE believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of ENGIE securities are cautioned that forward-looking information and statements are not guarantees of future performances and are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of ENGIE, that could cause actual results, developments, synergies, savings and benefits to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the public filings made by ENGIE with the Autorité des Marchés Financiers (AMF), including those listed under "facteurs de risque" (risk factors) section in the Universal Registration Document filed by ENGIE (ex GDF SUEZ) with the AMF on March 18, 2020 (under number D.20-141). Investors and holders of ENGIE securities should consider that the occurrence of some or all of these risks may have a material adverse effect on ENGIE.
45 | July 31st 2020 |
American Depositary Receipt
Symbol | ENGIY |
CUSIP | 29286D105 |
Platform | OTC |
Type of programme | Level 1 sponsored |
ADR ratio | 1:1 |
Depositary bank | Citibank, NA |
FOR MORE INFORMATION, GO TO
http://www.citi.com/dr
Ticker: ENGI
+33 1 44 22 66 29 | ir@engie.com |
https://www.engie.com/en/financial-results
FOR MORE INFORMATION ABOUT H1 2020 RESULTS:
https://www.engie.com/en/finance/resultats/2020
46 | July 31st 2020 |
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Engie SA published this content on 03 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2020 12:21:08 UTC