FINANCE

2025 First Quarter Results

By ENGIE - 15 May 2025 - 08:00

A solid start to the year marked by a good operational and financial performance
FY 2025 guidance confirmed

 

Business highlights

  • Robust activity in Renewables & BESS, with 8.5 GW under construction across more than 100 projects at the end of March 2025
  • Acquisition of two hydropower plants in Brazil (612 MW) and a portfolio of Renewable assets in the United Kingdom (157 MW)
  • Award of a new electric substation in Chile
  • Closing of the nuclear transaction in Belgium


Financial performance

  • EBIT excluding nuclear at €3.7bn, an organic increase of 2.1%, mainly driven by Infrastructures and favourable timing effect
  • Cash Flow From Operations1 at €4.0bn in Q1 2025
  • Maintaining a solid balance sheet with an economic net debt/EBITDA ratio down to 3.0x
  • Economic net debt reduced by €1.8bn
  • FY 2025 guidance confirmed with NRIgs2 expected in a range of €4.4-5.0bn
resultats-Q1-2025-EN
over-the-years-image

“ENGIE had a good start to 2025, with EBIT excluding nuclear of €3.7 billion, representing an organic growth of 2% in the first quarter. Our balanced project portfolio, both in terms of geographies and activities, is a strong base for continuing our growth strategy in the current uncertain global context. As of March 31, ENGIE has 8.5 GW of renewable and battery capacity under construction, representing more than 100 projects worldwide. This period was also marked by the closing of the transaction with the Belgian government regarding the 10-year extension of two nuclear reactors. This is an important step for Belgium's energy security of supply, which also significantly improves ENGIE's risk profile, notably through the transfer of responsibility for nuclear waste. Despite an uncertain economic environment, the momentum of the Group and its solidity allow us to confirm our guidance for 2025.”

Catherine MacGregor – CEO

1 Cash Flow From Operations: Free Cash Flow before maintenance Capex and nuclear phase-out expenses
2 Net recurring income Group share