Furthermore,
Engie: penalized its energy supply:
(BFM Stock Exchange) – The energy group has delivered an overall copy in accordance with its expectations. However, has confirmed its annual perspectives. However, But the profitability lower than expectations makes investors blinked.
In 2025. Furthermore, Engie clearly gave a taste for investors to a sector of “utilities” (communities services, such as the supply of gas or electricity), which was identified as a protective barrier in the face of customs threats. Consequently,
The energy group has twice delighted the scholarship by enhancing certain medium -term objectives in March. Therefore, Then in May. However, the group had exceeded the expectations of analysts thanks in particular to the good performance of its gas and electrical networks infrastructure division.
In June, Barclays expected that the next publications were of the same ilk. For example, The British bank was engie: penalized its energy supply optimistic about the content of the results of the first half that were published this Friday. Moreover, August 1. Barclays expected these accounts accompanied by an increase in action.
A few weeks later, Barclays’ scenario did not materialize. ENGIE has unveiled half -yearly results in accordance with its expectations but marked by a current operating result.
However, the market is intractable with business publications this season. Engie makes it the bitter experience this Friday, August 1, with a title which opened on a net withdrawal of 8.3% before containing its decline to 2.2% around 11:30 am.
Geopolitical uncertainties
Over the first six months of the year, Engie has revealed a turnover up 1.4% in published data and 2.9% in comparable data to reach 38.07 billion euros.
By excluding the nuclear activities of the company in Belgium, Engie generated a gross operating profit (EBITDA) of 7.4 billion euros, down engie: penalized its energy supply 5.5 % in comparable data, while the operating profit (EBIT) established 5.1 billion euros, in withdrawal of 9.4 % over a year on these same bases.
Taking into account nuclear activities in Belgium, the EBIT appears at 5.6 billion euros, or 2% below the consensus and 1% in the expectations of Morgan Stanley, housed at 5.7 billion euros.
This failure is explained in particular by a decline of 31.9% of the “Supply & Energy Management” division (which includes trading. supply and management of energy assets), and in particular the “Energy Management” subdivision (-53.9% in organic).
This plunge results from the “continuation of the standardization of market conditions. from a negative effect linked to the transport costs of gas in Austria and to low countries as well as a lower activity in the second quarter 2025 due to geopolitical and economic uncertainties”
The “infrastructure” division (development and maintenance engie: penalized its energy supply of gas and electrical networks infrastructure) saw its operating profit jumped 43.4% into comparable data to 1.959 billion euros.
Oddo BHF notes that this division beat its expectations (1.858 billion euros) supported by favorable weather conditions. an increase in prices in April and July from last year and good performance in Latin America (indexing and new constructions).
The EBIT of the “Renewable and Flex Power” division (renewable energies, batteries, gas turbines), at 1.988 billion euros, also exceeded the forecasts of the design office housed at 1.918 billion euros, “despite the impact of the drop in hydroelectric volumes (-2.1 terawattheures in annual shift). but thanks to the Installations and the decline in taxes in France, both in the hydroelectric sector and in that of flexible production “.
Engie: penalized its energy supply
Reducted perspectives
The recurrent net profit starts from the group reached 3.1 billion euros and fell 15.9% in engie: penalized its energy supply comparable data. Net profit jumped 50.5% in gross variation to reach 2.9 billion euros.
Engie beat Morgan Stanley’s expectations by 2% on the recurring net profit from the group.
Regarding the entire year 2025, Engie has renewed its forecasts despite an economic and geopolitical context “quite uncertain and moving”.
For 2025. the group tables an out -of -nuclear operating profit (EBIT) between 8 billion and 9 billion euros and a recurring net profit from the group (RNRPG) located between 4.4 billion and 5 billion euros.
“As expected. the EBIT outside nuclear will reach its low point this year and the second semester 2025 will be up compared to 2024,” explains its general manager, Catherine Macgregor.
Morgan Stanley thinks that these forecasts involve an out -of -nuclear EBIT minimum of 8.4 billion euros for the year 2025, almost in the upper half of the currently planned range engie: penalized its energy supply of 8 to 9 billion euros.
“If the lack of revision upwards revision of forecasts today can disappoint certain investors. we think that this could be an encouraging sign for the rest of the year (if our hypothesis that Engie will be able to review his upward goals is confirmed), which could encourage investors to remain involved in the title, even if we are going through a period of potential political uncertainty in France.”
Sabrina Sadgui – ©2025 BFM Bourse
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