ENGIE 2018 results
Solid results confirming growth momentum
Commenting the full year results, Isabelle Kocher, ENGIE’s CEO, stated: “We have laid the groundwork for significant shareholder value creation and are building on our achievements to be at the forefront of the second wave of the energy transition, with increasing scale of customer impact. I would like to thank all ENGIE employees for their commitment which has been essential to the successful delivery of our strategic plan over the past three years. In 2018, we achieved our objectives thanks to the commitment of our teams, notwithstanding the exceptional challenges we have faced and addressed in Belgium.”
Consistent with the strategic repositioning initiated in 2016, ENGIE continued to develop its privileged businesses. It strengthened its positions in Client Solutions through (i) targeted acquisitions in Latin America, the United States, Germany and Singapore, (ii) new contracts in high-growth business segments (mobility, campus management and cooling networks), (iii) order book growth in installation activities, and (iv) an increase in the sale of electricity and gas market offer contracts in France. In Infrastructures, storage regulation has been implemented in France, the number of smart gas meters installed in France has reached 2.5 million, and our Latin American businesses continued to grow. In Renewables, 1.1 GW of wind and solar capacity were added in 2018. In Thermal contracted, new long-term contracts were signed.
For 2019, ENGIE expects growth in net recurring income Group share to a level between EUR 2.5 and EUR 2.7 billion5. Looking ahead, ENGIE announces a new medium-term dividend policy which provides for a 65-75% targeted NRIgs payout ratio range. For the fiscal year 2019, it is ENGIE’s current intention to target a dividend payout towards the upper end of this range.
For more detailed analysis, download the official press release > ENGIE 2018 Results