The following is a summary of the Engie SA (ENGIY) Q4 2023 Earnings Call Transcript:
Financial Performance:
Engie reported an 18% organic increase in EBIT to €9.5 billion in 2023, leading to a net recurring income of €5.4 billion.
Cash flow from operations saw a notable increase, reaching €13.1 billion due to earnings boost and working capital improvements.
Growth CapEx rose significantly in alignment with their business plan for 2023-2025.
The company proposed a dividend of €1.43, reflecting a payout ratio of 65%.
Expectations for 2024 foresee a net recurring income group share in the range of €4.2 billion to €4.8 billion, which surpasses previous guidance.
Business Progress:
Engie has maintained steady growth in their renewable energy deployment and has made significant strides in batteries both organically and through acquisitions.
Their collaboration with the Belgium government in finalizing a nuclear agreement in December de-risked the group operations.
Engie has succeeded in reducing its greenhouse gas emissions in energy production from 60 million tons to 52 million tons and also made progress in gender equality, with a 31% representation of women in management.
The company plans to simplify operations and improve performance to generate earnings of around €4 billion by 2026.
Engie has an ambitious green gas business target set for 2030 and is on track to phase out coal by 2027.
Expansion plans are ongoing in the US, with strategies in place to maximize assets productivity and handle market volatility.
More details: ENGIE SPON ADR EACH REPR 1 SHARE IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.