ENGI Engie

   By Alberto Delclaux 
 

French utility company Engie SA (ENGI.FR) said Tuesday that its earnings and revenues grew in the first quarter, with specially solid performance in France.

Earnings before interest, taxes, depreciation and amortization rose 3% to 3.16 billion euros ($3.78 billion) from EUR3.07 billion a year earlier. On an organic basis, Ebitda was 6% higher, Engie said. Revenues rose 1.2% to EUR17.52 billion.

The company attributed the rise in earnings and revenues to an increase in renewable-power generation in France and Belgium, an increase in gas and electricity sales in the French retail segment, the commissioning of assets in Latin America and a push from favorable temperatures on gas distribution in France.

"With a solid financial structure, the Group records an historically low debt, below EUR20 billion, and restates all its objectives for 2018," said Chief Executive Isabelle Kocher.

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

(END) Dow Jones Newswires

May 15, 2018 02:30 ET (06:30 GMT)

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