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Engie: slight decline in EBIT excluding nuclear in Q1

( - Engie reports EBIT excluding nuclear at 3.
7 billion euros for the first quarter of 2024, a slight organic decline of 3.7%, 'due to Infrastructure and GEMS largely offset by Renewables and Flexgen, including some positive timing effects'.

The energy group saw its EBITDA excluding nuclear come in at ?4.8 billion on sales of ?22 billion, down organically by 1.9% and 24.9% respectively, against a backdrop of lower volatility and market prices.

We have continued to implement our strategic plan, with 7 GW of renewable capacity under construction, and are on track to maintain our pace of 4 GW of additional capacity per year until 2025", says CEO Catherine MacGregor.

Engie confirms its targets for 2024 'in a context of normalizing volatility and energy prices', namely recurring net income group share of between 4.2 and 4.8 billion euros, and EBIT excluding nuclear of between 7.5 and 8.5 billion.

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