Business Highlights

• Fundamental de-risking of nuclear exposure through agreement on all waste liabilities and extension of Doel 4 and Tihange 3
• Expected acceleration in Renewables with 6.6 GW under construction at the end of June
• Reinforcement of ENGIE’s renewables platform in South Africa following the acquisition of BTE Renewables and full consolidation of Kathu
• Commissioning of ENGIE’s largest battery energy storage system Hazelwood in Australia
• Awarded a 30-year concession of 1,000 km of power lines in Brazil
• 100% renewable power generation in Brazil after Pampa Sul coal plant disposal
  
  

Financial Performance

• EBIT of €6.7bn excluding Nuclear, up 53% organically, driven mainly by GEMS and Renewables
• Strong growth in CFFO¹ driven by EBITDA growth and improvement in Working Capital Requirements
• Impact of Belgian nuclear transaction integrated in financial results at 30 June
• Solid balance sheet and improving economic net debt to EBITDA ratio at 2.7x, including impact of the agreement on nuclear liabilities
• Net financial debt decreasing to €23.0bn, down €1.1bn, economic net debt increasing to €41.4bn
• FY 2023 guidance confirmed, with NRIgs² expected in the range of €4.7-5.3bn
  

Catherine MacGregor, CEO, said: “In the first semester, ENGIE has achieved a very strong financial performance, driven by the development of our renewable activities and the results of our energy management activities in a context still characterized by high price volatility. We have signed an agreement with the Belgian government significantly reducing the risks on the overall amount linked to the management of nuclear waste and providing the necessary visibility on the 10-year extension of the two units Doel 4 and Tihange 3. ENGIE has also made significant progress across all GBUs, including the acquisition of BTE Renewables in South Africa, the commissioning of BESS Hazelwood in Australia, and the success on the tender of 1,000 km power transmission lines in Brazil. In line with our strategic plan, we keep improving our business profile while leveraging our growth platforms. We are confident in the strength of our integrated model to meet the challenges of the energy transition both in the short and long-term.”

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