Latest news with #EngieSA
Arabian Business
02-07-2025
- Business
- Arabian Business
Saudi's ACWA Power's $1.9bn rights issue approved by shareholders
Saudi Arabia's ACWA Power has received shareholders' go-ahead for its SAR 7.1 billion (US$1.9 billion) rights issue. With SAR 5.28 billion (US$1.41 billion) to SAR 5.98 billion (US$1.59 billion) earmarked for financing current and future projects and up to SAR 1.41 billion (US$380 million) for mergers and acquisitions, this marks a key step in aggressively funding its expansion in renewable and clean energy projects. The company will offer approximately 33.93 million shares at SAR 210 (US$56) a piece. On Wednesday, ACWA's shares were trading at SAR 240, down 3.23 per cent. According to Bloomberg, ACWA has been one of the worst performers on Saudi Arabia's stock exchange in 2025, with shares down 40.6 per cent so far this year. It's high this year was on January 20, when it touched SAR 435.2. The company sees the rights issue as critical to its plan to boost annual project spending to as much as $2.5 billion as it seeks to triple assets under management by 2030. It's working to expand into countries like China, Malaysia and Turkey, and is also building new capacity at home as part of Saudi Arabia's drive to neutralise carbon emissions by pushing into solar, wind and green hydrogen. In February this year, ACWA Power bought power and water assets in Kuwait and Bahrain from France's Engie SA for US$693 million. It acquired stakes in three plants totalling more than 3 gigawatts of power capacity and 138 million gallons a day of desalination in Bahrain, as well as Engie's share of the 1.5-gigawatt Az Zour North project in Kuwait. For the first quarter of 2025, ACWA Power said its operating income before impairment losses and other expenses increased by 117 per cent to reach SAR 870 million (US$232 million), driven by higher development business and construction management services income. Net profit reached SAR 427 million (US$113.9 million) for the period, 44 per cent higher QoQ.
Business Insider
17-05-2025
- Business
- Business Insider
Kepler Capital Remains a Buy on Engie SA (0LD0)
Kepler Capital analyst Juan Rodriguez maintained a Buy rating on Engie SA (0LD0 – Research Report) on May 15 and set a price target of €22.00. The company's shares closed last Thursday at €18.30. Confident Investing Starts Here: Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter According to TipRanks, Rodriguez is a 4-star analyst with an average return of 6.5% and a 57.21% success rate. The word on The Street in general, suggests a Strong Buy analyst consensus rating for Engie SA with a €19.79 average price target, an 8.14% upside from current levels. In a report released yesterday, Deutsche Bank also maintained a Buy rating on the stock with a €20.00 price target.
Yahoo
16-05-2025
- Business
- Yahoo
Engie SA (ENGIY) Q1 2025 Earnings Call Highlights: Resilient Performance Amid Market Challenges
EBIT: EUR3.7 billion, up 2% excluding nuclear. Cash Flow from Operations: EUR4 billion. Economic Net Debt: EUR46 billion, down 4% over the quarter. Net Recurring Income Guidance: EUR4.4 billion to EUR5 billion for the full year. Renewables Capacity Added: Over 0.6 gigawatts, mainly in LatAm and Egypt. EBITDA: EUR4.9 billion, excluding nuclear. Net Financial Debt: EUR34.6 billion, up EUR1.4 billion. Renewables and BESS EBIT: Down EUR59 million organically. Infrastructure EBIT: EUR1,453 million, up EUR469 million organically. Supply and Energy Management EBIT: EUR1,291 million, down EUR245 million organically. Leverage Ratios: Net financial debt-to-EBITDA at 2.2x; economic net debt to EBITDA at 3.0x. Dividend Policy: 65% to 75% payout ratio based on net recurring income, with a floor at EUR1.10. Warning! GuruFocus has detected 10 Warning Signs with ENGIY. Release Date: May 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Engie SA (ENGIY) reported an increase in EBIT for Q1 2025 compared to the previous year, showcasing resilience despite market normalization and geopolitical uncertainties. The company successfully closed a significant nuclear deal in Belgium, transferring EUR12 billion of nuclear waste storage provisions, reducing financial uncertainty. Engie SA (ENGIY) added over 0.6 gigawatts of renewable capacity, primarily in Latin America and Egypt, enhancing its renewable energy portfolio. The company maintained a robust balance sheet with economic net debt down 4% to EUR46 billion, equating to 3x EBITDA, below the ceiling of 4 times. Engie SA (ENGIY) confirmed its full-year guidance, expecting net recurring income group share between EUR4.4 billion and EUR5 billion, indicating confidence in future performance. The company faces challenges in the US market due to uncertainties around the Inflation Reduction Act (IRA) and future tariffs, impacting renewable and battery projects. Engie SA (ENGIY) experienced a decrease in cash flow from operations by EUR1.1 billion year-on-year, primarily due to margin calls and energy market normalization. The company's Energy Management segment saw a significant organic decrease in EBIT, attributed to lower reserve reversals and increased competition. Engie SA (ENGIY) noted a cautious approach from industrial customers due to macroeconomic uncertainties, potentially impacting future demand. The B2C segment's exceptional Q1 performance included one-off events and timing effects that are expected to reverse in the upcoming quarters, indicating potential volatility. Q: Can you provide more insight into the 2025 guidance and how the Q1 performance aligns with it? A: Pierre Francois Riolacci, Executive Vice President, explained that while Q1 was strong, it included some one-off benefits and easier comparisons in certain segments. Despite this, Engie remains cautious due to market uncertainties but is pleased with the start of the year. Q: Why has Engie not been impacted by the trading difficulties that affected peers like RWE and Centrica? A: Pierre Francois Riolacci noted that while Energy Management faced some challenges, Engie's strong B2B business, supported by stable multi-year contracts, provided resilience. The company has seen increased competition but remains confident in its B2B performance. Q: What are your views on the installed costs and competitiveness of renewables, especially in light of the IRA and potential political risks in the US? A: Catherine Macgregor, CEO, highlighted proactive supply chain management and strategic partnerships as key to managing costs. She noted that solar panels remain competitive and emphasized Engie's flexibility in capital allocation across various markets. Q: Could you elaborate on the potential impact of the IRA's transferability of tax credits and material assistance provisions on your battery projects? A: Catherine Macgregor stated that transferability offers more options compared to traditional tax equity. While there are concerns about Chinese components in batteries, Engie has front-loaded its US battery projects to mitigate risks. Q: How does Engie plan to address potential challenges in achieving its M&A-driven growth targets in electricity grids? A: Pierre Francois Riolacci mentioned that Engie is exploring various leads and remains agile in capital allocation. The focus is on value creation, and the company is open to redeploying capital to other strategic areas if necessary. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Bloomberg
15-05-2025
- Business
- Bloomberg
Engie Profit Edges Down 0.9% After Utility Shuts Nuclear Plant
Engie SA said first-quarter profit slipped 0.9% amid lower energy prices, declining market volatility and a drop in nuclear and hydropower generation. The results reflect the permanent shutdown of a reactor in Belgium — where two more units are due to close by year's end — as well as weaker hydro output in France and Portugal. Receding power prices also weighed on earnings even as the utility benefited from higher natural gas demand in France.
Zawya
10-03-2025
- Business
- Zawya
Oman leads green hydrogen ambitions in the Middle East
The Sultanate of Oman is emerging as a dominant player in the Middle East's green hydrogen revolution, with multiple large-scale projects poised to transform the country's energy landscape. A recent industry report highlights Oman's prominence in the region, with five of the ten largest active and upcoming low-carbon hydrogen plants in the Middle East set to be operational by 2030. These projects collectively underscore Oman's commitment to renewable energy, leveraging its abundant solar and wind resources to spearhead a new era of sustainable industrial growth. OMAN'S LEADING HYDROGEN PROJECTS According to the data, the largest hydrogen project in Oman is the ACME Duqm Hydrogen Project Phase 2, which has a planned capacity of 497 ktpa (kilotonnes per annum) and is expected to commence operations in 2028. Developed by ACME Cleantech Solutions Pvt Ltd, this project will use solar power as its primary energy source to produce green hydrogen. The POSCO Consortium Duqm Hydrogen Project is another notable initiative, with a projected capacity of 220 ktpa and a target operational date of 2030. The consortium, involving Engie SA (25%), POSCO Holdings Inc (28%), PTT Public Co Ltd (11%) and Samsung E&A Co Ltd (12%) and others (24%), is focusing on leveraging Oman's strategic location at Al Duqm to establish a major hydrogen production and export hub. The Amnah Consortium Duqm Hydrogen Plant, with a capacity of 215 ktpa and an expected operational date of 2028, is also among the largest in the region. It is being developed by Blue Power Partners AS (33.33%), Copenhagen Infrastructure Partners KS (33.33%) and other stakeholders (33.33%), reinforcing Oman's appeal to international investors in the renewable energy sector. Further adding to Oman's hydrogen portfolio is the Fortescue Future Industries Oman Hydrogen Project, which is expected to produce 200 ktpa of green hydrogen by 2030. Developed as a 50-50 joint venture between Actis Corp and Fortescue Future Industries Pty Ltd, the project will integrate solar and wind energy to ensure sustainable production. The EDF Oman Hydrogen Project, with a capacity of 178 ktpa, is another key initiative expected to come online in 2030. Led by Electric Power Development Co Ltd (33.33%), Électricité de France SA (33.33%) and Yamna Ltd (33.33%), this project will also utilise a mix of solar and wind energy, further cementing Oman's position as a leader in green hydrogen. OMAN'S COMPETITIVE EDGE IN GREEN HYDROGEN Oman's strategic location along key global shipping routes, combined with its strong renewable energy potential, has positioned it as a prime candidate for green hydrogen production. The country's Duqm Special Economic Zone (SEZAD) has emerged as a focal point for hydrogen investments, attracting international companies eager to capitalise on Oman's low-cost renewable energy resources. The government, through Hydrom — the orchestrator of Oman's green hydrogen sector — has been actively fostering partnerships with global energy giants to accelerate project development. The Public Authority for Special Economic Zones and Free Zones (OPAZ) has also streamlined regulatory frameworks to facilitate rapid project approvals, making Oman an attractive destination for investors. While Oman leads the Middle East in planned green hydrogen capacity, it faces competition from regional heavyweights like Saudi Arabia and the UAE. The Neom Helios Hydrogen Plant in Saudi Arabia (219 ktpa) and the ADNOC Ruwais Hydrogen Project Phase 2 in the UAE (200 ktpa) are also set to play a significant role in the region's hydrogen economy. However, Oman's focus on green hydrogen, as opposed to blue hydrogen projects reliant on natural gas, gives it a distinct competitive edge in the global push for net-zero emissions. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
