ENGIE Reports Strong 2024 Performance with Renewable Growth

Engie ( (ENGIY) ) has released its Q4 earnings. Here is a breakdown of the information Engie presented to its investors.

ENGIE, a prominent player in the energy sector, is dedicated to advancing the transition to a carbon-neutral economy through its diverse activities in renewable energy, gas, and electricity transmission, and local energy infrastructures. The company operates across 30 countries with a workforce of 98,000 employees.

In its fiscal year 2024, ENGIE reported strong operational and financial performance, highlighted by significant growth in renewable energy capacity and strategic advancements in battery storage and power transmission. The company achieved a net recurring income of €5.5 billion, reflecting a 3.4% organic increase, and proposed a dividend of €1.48 per share.

Key financial metrics for ENGIE in 2024 included a revenue of €73.8 billion, a decrease of 10.6% from the previous year, and an EBITDA excluding nuclear of €13.4 billion, down 2.0% organically. The company also reported a significant reduction in greenhouse gas emissions and expanded its renewable energy capacity by 4.2GW, reaching a total of 46GW.

ENGIE’s strategic focus on renewables and energy solutions was evident in its capital expenditure of €10 billion, with 84% allocated to these areas. The company also made notable progress in its Net Zero 2045 trajectory, achieving a 55% reduction in GHG emissions compared to 2017 levels.

Looking ahead, ENGIE has upgraded its net recurring income target for 2025 and anticipates growth in its net recurring income by 2027. The company remains committed to maintaining a strong investment-grade credit rating and continues to focus on sustainable value creation in support of a decarbonized energy system.