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ENGIE (ENGI) investor relations material
ENGIE Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Delivered resilient nine-month 2025 results with robust earnings and strong cash flow, despite lower energy prices and hydro volumes, confirming FY 2025 guidance at the upper end.
Accelerated renewables and flexible power growth, reaching 55 GW installed and 6 GW under construction, with over 3 GW of PPAs signed YTD.
Major progress in Belgium with the restart of Doel 4 and Tihange 3 reactors, transfer of nuclear waste liabilities, and formation of a 50/50 nuclear JV with the Belgian state, de-risking the balance sheet.
Positioned to benefit from rising electrification and data center demand, leveraging a balanced green and flexible energy mix and energy management expertise.
Strategic asset portfolio simplification and continued investment in green and flexible assets.
Financial highlights
Revenue reached €52.8bn, up 0.2% reported and 1.8% organic year-over-year.
EBIT excluding nuclear at €6.3bn, down 7.3% organically; EBITDA excluding nuclear at €9.8bn, down 4% organically.
Cash flow from operations at €11.4bn, supported by disciplined working capital management.
Performance actions contributed €477m to EBIT, tripling last year’s boost.
Net financial debt at €36.0bn, up €2.7bn from December 2024, mainly due to the Belgian nuclear agreement; economic net debt at €46.4bn, down €1.4bn.
Outlook and guidance
Full-year 2025 guidance confirmed at the upper end: recurring net income group share expected between €4.4bn and €5.0bn; EBIT (ex-nuclear) projected in the upper half of €8.0–9.0bn.
Dividend payout ratio maintained at 65–75% of net recurring income, with a floor of €1.10/share.
Economic net debt/EBITDA target ≤4.0x over the long term.
Guidance assumes stable regulatory and macroeconomic environment, average production, and recurring net financial costs of €(1.9–2.1)bn.
Expects a low point in 2026 net recurring income due to nuclear phase-down, with growth resuming thereafter.
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Frequently asked questions
A French Utility Company
Engie SA, previously known as GDF Suez, is a French multinational electric utility company that operates in the fields of electricity generation and distribution, natural gas, and renewable energy. The company is headquartered in Courbevoie, near Paris, and is one of the largest utility companies globally. Engie's operations span more than 70 countries, encompassing power generation, distribution, and energy services, making the company a significant player in the global energy sector.
Rising From The Ashes of The Second World War
Engie was initially founded as Gaz de France in 1946 when the French government decided to nationalize the production and distribution of gas in the aftermath of World War II. In 2008, Gaz de France merged with Suez, an international industrial and services group, creating GDF Suez. The name was changed to Engie in 2015, signifying a new strategic direction for the company as it looked to expand outside of France’s borders. Today, Engie is one of the most diversified energy providers in the world, with operations stretching from North America to Asia and Africa. Given their position in the market, they compete with companies such as RWE, Enel, TotalEnergies, and many more.
The Entire Value Chain
Engie's operations cover every segment of the energy value chain. The company generates electricity through various sources including natural gas, nuclear power, coal, and increasingly renewable sources such as wind and solar. They also distribute the generated electricity to various businesses and households around the globe. The company also offers energy efficiency services, helping businesses and individuals optimize their energy consumption and reduce their carbon footprint.
Navigating the Transition to Cleaner Energy
Given the global shift towards cleaner energy sources, Engie is increasingly investing in renewable energy technologies. The company is heavily involved in the development of wind farms, solar power facilities, and hydroelectric power stations across the world. They are also exploring the potential of newer technologies such as hydrogen power and carbon capture and storage. While maintaining its traditional energy operations, Engie is looking to the future and playing its part in the global transition to a low-carbon economy.
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