“Engie’s Profit Surge: Forecasts Reveal Extra 1.3 Billion Euros in Profits

French energy company Engie has raised its full-year guidance for recurring net income and operating profit, pointing to a strong performance in its GEMS unit in April and May. The company now expects a recurring net profit (group share) of 4.7 billion euros to 5.3 billion euros for 2023, which is more than one billion euros higher than previously predicted. Engie also said it now expects an operating profit (EBIT) excluding its nuclear activities in the range of 8.5 to 9.5 billion euros, up from the top end of 6.6-7.6 billion.

Engie’s increased profit forecast is due to several factors, including a strong performance in its GEMS unit in April and May. The company also expects a market that is less of a crisis in 2023, but an environment that is not adverse. Additionally, Engie has raised its full-year guidance for recurring net income and operating profit. The company now expects a recurring net profit (group share) of 4.7 billion euros to 5.3 billion euros for 2023, which is more than one billion euros higher than previously predicted. Engie also said it now expects an operating profit (EBIT) excluding its nuclear activities in the range of 8.5 to 9.5 billion euros, up from the top end of 6.6-7.6 billion.