on ENGIE (EPA:ENGI)
ENGIE Q1 2026 Financial Performance Review
ENGIE reports a strong start to 2026 with the completion of its acquisition of UK Power Networks. Despite a challenging market, EBIT excluding nuclear stood at €3.4bn, albeit a 6.6% organic decrease from Q1 2025. The energy company's revenue dropped by 11.6% to €20.6bn, reflecting anticipated market normalization.
ENGIE's renewable and battery storage capacity expanded significantly, boasting 6.6 GW under construction. Geographic portfolio optimization continued with asset sales in Qatar, and new transmission projects in Brazil were announced to bolster infrastructure capabilities.
Negotiations with the Belgian State are underway regarding the transfer of ENGIE's nuclear activities, underpinning the company's strategic shift. Meanwhile, cash flow from operations remained robust at €3.0bn, supporting a confirmed guidance for 2026 with recurring income projected between €4.6bn and €5.2bn.
R. H.
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