Engie Nine-Month Earnings Decline, but Backs 2017 Targets

By Sarah Sloat Features Dow Jones Newswires

French energy company Engie SA (ENGI.FR) said Wednesday that its earnings fell in the first nine months, largely due to effects related to divestments.

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Earnings before interest, taxes, depreciation and amortization declined to 6.6 billion euros ($7.6 billion) in the nine months from EUR6.8 billion in the year-earlier period. On an organic basis, Ebitda was 3.8% higher, the company said. Revenues rose to EUR46.8 billion from EUR46.2 billion. On an organic basis, revenues rose 2.9%.

Engie attributed the earnings decline in part to power generation asset disposals in the U.S., as well as an Indonesian power plant divestment.

The company confirmed its 2017 financial targets, and still expects recurring after-tax income between EUR2.4 billion and EUR2.6 billion.

Write to Sarah Sloat at sarah.sloat@wsj.com

(END) Dow Jones Newswires

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November 08, 2017 13:03 ET (18:03 GMT)