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ENGIE

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Engie : Swings to Loss with Impairments, Nuclear Hit; Expects 2021 Improvement

02/26/2021 | 02:28am EDT

By Giulia Petroni

Engie SA said Friday that it swung to a loss in 2020, but expects performance to improve significantly in the current year.

The French utility company said it booked a net loss of EUR1.5 billion from a profit of EUR1 billion in the previous year, partly due to high impairment losses and changes in the price scenario for nuclear assets. Net recurring income, which strips out one-offs, came in at EUR1.7 billion euros.

Revenue decreased 5.7% organically to EUR55.75 billion from EUR60.1 billion, mainly due to the pandemic, the company said.

Earnings before interest, tax, depreciation and amortization came in at EUR9.27 billion, down from EUR10.37 billion last year.

Looking ahead, Engie said performance should improve significantly assuming a gradual easing of restrictions during 2021. It anticipates net recurring income in the range of EUR2.3 billion and EUR2.5 billion.

The company said it will propose a dividend of EUR0.53 a share, which equates to a payout ratio of 75%.

It added it will provide medium-term guidance on May. 18.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

02-26-21 0227ET

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Financials
Sales 2021 60 307 M 72 695 M 72 695 M
Net income 2021 2 483 M 2 993 M 2 993 M
Net Debt 2021 23 967 M 28 890 M 28 890 M
P/E ratio 2021 12,3x
Yield 2021 5,83%
Capitalization 29 940 M 36 015 M 36 090 M
EV / Sales 2021 0,89x
EV / Sales 2022 0,91x
Nbr of Employees 171 000
Free-Float 72,2%
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Technical analysis trends ENGIE
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 14,79 €
Last Close Price 12,39 €
Spread / Highest target 37,2%
Spread / Average Target 19,4%
Spread / Lowest Target -30,3%
EPS Revisions
Managers and Directors
NameTitle
Catherine MacGregor Chief Executive Officer
Judith Hartmann CFO, Executive VP-United Kingdom & Ireland
Jean-Pierre Clamadieu Chairman
Yves Le Gélard Chief Information & Digital Officer
Shankar Krishnamoorthy EVP-Strategy Innovation & Industrial Development
Sector and Competitors
1st jan.Capitalization (M$)
ENGIE-1.05%36 015
ELECTRICITé DE FRANCE-6.40%44 474
NATIONAL GRID PLC4.31%44 261
SEMPRA ENERGY8.42%41 816
PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED8.89%31 998
E.ON SE10.72%30 737