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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  Engie Brasil Energia S.A.    EGIE3   BREGIEACNOR9

ENGIE BRASIL ENERGIA S.A.

(EGIE3)
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Engie Brasil Energia S A : Group refocuses strategy to accelerate growth in renewables and infrastructure

07/31/2020 | 01:51pm EST

In line with its strategy to play a key role in the energy transition and its Purpose, announced in May 'to act to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally friendly solutions, reconciling economic development with a positive impact on people and the planet', the ENGIE Group's Board has announced three strategic orientations for the sustainable growth of the company and its simplification with a view to spearheading the energy transition.

Acceleration of investments in renewables and infrastructure

ENGIE intends to implement a new strategy for allocating capital, focusing on the growth of initiatives directly linked to the energy transition:

- to accelerate the growth in the development of renewable energy, increasing the global plan from an annual expansion of 3 GW to 4 GW.

- to capture opportunities through the development of biogas and hydrogen under the European Green Recovery Plan.

- to accelerate the growth in decentralized infrastructure assets such as urban heating and cooling networks and onsite power generation.

Strategic review of part of the Solutions business

Offering innovative low-carbon solutions, ENGIE has established itself as a leader in the energy transition and developed a broad portfolio of activities.

The Board has decided to conduct a review of the Solutions activities to maximize their value, reinforce their leadership position and to seize future growth opportunities through a coherent perimeter and adapted organization.

Significant enhancement of the divestment program to fund future growth in renewable energy and infrastructure assets

The Group will consider opportunities to divest non-core businesses and minority stakes in order to increase financial flexibility to fund investments in renewables and infrastructure assets.

Overall, this could lead the ENGIE Group to potentially double its previously announced divestment program of approximately 4 billion euros over the medium term.

A comment from ENGIE Brasil's CEO, Mauricio Bähr

'Brazil is a country which is key to the global success of ENGIE and the Group has given us the conditions to grow in a solid, consistent and sustainable way in renewables and infrastructure. Sufficient is to see the investments recently made in the acquisition of TAG and in the construction of wind power complexes and transmission lines. As for Solutions, we had already been restructuring this area of business in Brazil to focus on the activities which the Group sees as most relevant to the energy transition whether in relation to companies or entire territories.'

About ENGIE

A ENGIE é a maior empresa privada de energia do Brasil, atuando em geração, comercialização e transmissão de energia elétrica, transporte de gás e soluções energéticas. Com capacidade instalada própria de 10.211MW em 61 usinas, o que representa cerca de 6% da capacidade do país, a empresa possui quase 90% de sua capacidade instalada no país proveniente de fontes renováveis e com baixas emissões de GEE, como usinas hidrelétricas, eólicas, solares e biomassa.

ENGIE is the largest private-sector power producer in Brazil, operating in generation, commercialization and transmission of electric power, gas transport and energy solutions. With an installed capacity of 10,211 MW from 61 power plants, which stands for about 6% of the country's capacity, the Company has nearly 90% of its installed capacity in the country from renewable sources and with low GHG emissions, such as hydro, solar and biomass power plants, and windfarms.

With the acquisition of TAG, ENGIE now also owns the largest natural gas transportation network in the country, at 4,500 km and transecting 10 states and 191 cities.

The Group also trades energy in the free market and is among the largest distributed photovoltaic generation companies. It has a complete portfolio of integrated solutions focused on reducing costs and improving the infrastructure for companies and cities. These include energy efficiency, energy monitoring and management, energy supply contracts management, public lighting, HVAC systems, telecommunication, security, and urban mobility systems for smart cities. With 2,750 employees, ENGIE's turnover in Brazil in 2019 was R $ 10.5 billion.

ENGIE is a global reference in low-carbon energy and services. Our purpose ('raison d'être') is to act to accelerate the transition towards a carbon-neutral world through reduced energy consumption and more environmentally-friend solutions, reconciling performance with a positive impact on people and the planet. We rely on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers. With our 170,000 employees, our customers, partners and stakeholders, we are a community of Imaginative Builders, committed every day to more harmonious progress.

Turnover in 2019: 60.1 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris - World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).

Disclaimer

ENGIE Brasil Energia SA published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 17:51:14 UTC


© Publicnow 2020
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Sales 2020 10 989 M 2 010 M 2 010 M
Net income 2020 2 580 M 472 M 472 M
Net Debt 2020 12 743 M 2 331 M 2 331 M
P/E ratio 2020 14,0x
Yield 2020 5,56%
Capitalization 35 354 M 6 475 M 6 467 M
EV / Sales 2020 4,38x
EV / Sales 2021 4,93x
Nbr of Employees 1 398
Free-Float 31,3%
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Average target price 47,21 BRL
Last Close Price 43,33 BRL
Spread / Highest target 22,3%
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NameTitle
Eduardo Antonio Gori Sattamini CEO & Investor Relations Officer
Maurício Stolle Bähr Chairman
Manoel Arlindo Zaroni Torres Vice Chairman
Dirk Achiel Marc Beeuwsaert Director
José Pais Rangel Director
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