Engie's net operating profit for 2024 down 6.2%
ReutersFeb 27, 2025 6:45 AM
PARIS, Feb 27 (Reuters) - French utility Engie ENGIE.PA posted a 6.2% fall in 2024 operating profit excluding nuclear on Thursday, due to a decline in gas prices, the impact of an energy tax in France and a decrease in gas-fired power plant usage in Europe.
The company, which sells and trades electricity and gas, said earnings before interest and tax (EBIT), excluding nuclear, reached 8.9 billion euros, down from 9.5 billion euros at the end of 2023.
Engie said it now expects its EBIT excluding nuclear in 2025 at 8-9 billion euros, raised from an expected 7.9 to 8.9 billion euros that they guided for in early 2024.
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