ENGQF - Engie: Solid Progress In Renewable Capacity Addition
2024-05-20 11:32:34 ET
Summary
- Decisive step in nuclear with the vote of the Belgian law.
- Strong Q1 results, including market reserve recoveries.
- The company is investing for growth while remunerating its shareholders.
- Engie confirmed its 2024 guidance and has a positive outlook, with an attractive valuation and positive capacity addition in the renewable space.
Following our Enel Q1 Beats And Raises update, today we are back to comment on Engie ( ENGIY ). For our new readers, Engie is a French-based integrated utility company that supplies gas and electricity. On a divisional level, around 15% of the company's EBIT comes from renewables, thermal, and nuclear, with an additional 25% from networks. On a geographical basis, the EU is the largest contributor to earnings, followed by the LATAM region....
Engie: Solid Progress In Renewable Capacity Addition