Engie S.a. · EURONEXT:ENGI
Engie — Q1 2025 Earnings Presentation
21 slides from Engie's earnings presentation, May 15, 2025
Slide 1: Q1 2025 Financial Information
Q1 2025 Financial Information 15 May 2025
Slide 2: Catherine MacGregor
Q1 2025 FINANCIAL INFORMATION CATHERINE MACGREGOR 2 ENGIE MAY 2025
Slide 3: Q1 2025 Highlights
Q1 2025 FINANCIAL INFORMATION Q1 2025 HIGHLIGHTS Strong Steady Agility Closing of financial results expansion in the nuclear in a challenging in renewables, BESS current US deal market environment and power networks context in Belgium 3 ENGIE MAY 2025
Slide 4: Strong Financial Results, 2025 Guidance Confirmed
Q1 2025 FINANCIAL INFORMATION STRONG FINANCIAL RESULTS, 2025 GUIDANCE CONFIRMED EBIT ex. Nuclear CFFO1 2025 guidance confirmed €3.7bn €4.0bn Up 2.1% vs. Q1 2024 vs. €5.1bn in Q1 2024 NRIgs expected between Economic net debt €4.4 and €5.0bn €46.1bn Down €1.8bn vs. end-2024 1 Cash Flow From Operations
Slide 5: Steady Expansion of Our Strategy
Q1 2025 FINANCIAL INFORMATION STEADY EXPANSION OF OUR STRATEGY Renewables & BESS Power networks 51.6 GW Acquisitions ENGIE Chile total capacity • 2 hydropower has won the tender for the of which 0.6 GW plants with total capacity added in Q1 25 development for a new substation, of 612 MW in Brazil lo
Slide 6: Closing of the Belgian Nuclear Deal
Q1 2025 FINANCIAL INFORMATION CLOSING OF THE BELGIAN NUCLEAR DEAL Closing and Second instalment ENGIE will no longer be first instalment will be paid when the exposed on March 14th, 2025 reactors restart in to the evolution of costs November 2025 related to waste management 6 6ENGIE ENGIE May MAY 20
Slide 7: Pierre-François Riolacci
Q1 2025 FINANCIAL INFORMATION PIERRE-FRANÇOIS RIOLACCI EVP in charge of Finance, ESG and Procurement 7 ENGIE MAY 2025
Slide 8: Financial Performance Highlights
Q1 2025 FINANCIAL INFORMATION FINANCIAL PERFORMANCE HIGHLIGHTS EBIT +2% organically vs. high comparison basis Q1 RESULTS • EBIT (excluding Nuclear) at €3.7bn, thanks to €bn, unaudited figures1 Actual ∆ Gross ∆ Organic2 higher contribution from Networks and favorable EBITDA (excluding Nuclear) 4.9 +1
Slide 9: EBIT Evolution by Effect
Q1 2025 FINANCIAL INFORMATION EBIT EVOLUTION BY EFFECT Strong performance supported by investments, performance and climate EBIT (excl. Nuclear) (€m) +82 +72 3,723 +92 --95 3,705 -59 -74 Performance Others FX -29 Price Volumes Commissioning 1,291 Supply & Scope -31 & Energy Management 3,723 Volatili
Slide 10: EBIT Evolution by Reporting Segment
Q1 2025 FINANCIAL INFORMATION EBIT EVOLUTION BY REPORTING SEGMENT (€m) 1,354 -26 Renewable -59 FX & & Flex Power Scope Renewable -117 1,152 & BESS Gas Generation Q1 2024 Q1 2025 FX & +513 -44 1,453 Scope Infrastructures Local Energy 1,012 Infrastructures -28 Networks Q1 2024 Q1 2025 1,530 +323 -349
Slide 11: Cash Flow from Operations
Q1 2025 FINANCIAL INFORMATION CASH FLOW FROM OPERATIONS Robust cash flow, lower than the previous year due to significant release of NWC in Q1 24 Change in WCR: -2.0 (€bn) +0.5 +0.9 -1.5 Inventory 5.1 Operating -0.8 -0.3 +0.1 cash flow Operating Net Margin Calls Other Taxes & 4.0 Working Capital cha
Slide 12: Belgian Nuclear Agreement
Q1 2025 FINANCIAL INFORMATION BELGIAN NUCLEAR AGREEMENT Impacts from transaction closing (€bn) 0.1 March 2025 – Remaining exposure Other (including (€bn) Q1 2025 unwinding) Financed through: Waste liability (paid at LTO restart) 3.6 • Monetization of dedicated Waste -12.2 financial assets: €9.5bn Di
Slide 13: Stable Credit Ratios, Rating Maintained
Q1 2025 FINANCIAL INFORMATION STABLE CREDIT RATIOS, RATING MAINTAINED Balanced cash equation impacted by the funding of our nuclear obligations in Q1 25 Net Financial Debt Leverage ratios (€bn) +3.3 +0.6 4.0x -4.0 +1.5 Others 34.6 33.2 Capex 1 3.1x 3.0x CFFO Nuclear funding & costs 2.1x 2.2x Dec Mar
Slide 14: FY 2025 Guidance Confirmed
Q1 2025 FINANCIAL INFORMATION FY 2025 GUIDANCE CONFIRMED Rating 2025: key assumptions “Strong investment grade” FX: Economic Net Debt / EBITDA €12.7 - 13.7bn ≤ 4.0x over the long term • €/USD: 1.13 • €/BRL: 6.22 Market commodity forward prices Dividend as of 31 March 2025 65-75% Nuclear Belgium €0.1
Slide 15: Summary
Q1 2025 FINANCIAL INFORMATION SUMMARY Strong Steady Agility Closing of financial results expansion in the nuclear in a challenging in renewables, BESS current US deal market environment and power networks context in Belgium 15 ENGIE MAY 2025
Slide 16: Additional Material
ADDITIONAL MATERIAL
Slide 17: Q1 2025 EBIT Change by Activity
Q1 2025 FINANCIAL INFORMATION Q1 2025 EBIT CHANGE BY ACTIVITY Gross Organic (€m) Q1 25 Variance Variance Key drivers Renewable & Contribution from capex 733 -74 -59 BESS Lower hydro volumes / Lower power prices in Europe / FX (BRL) Intraday volatility in Europe / no inframarginal tax in France
Slide 18: EBIT Breakdown
Q1 2025 FINANCIAL INFORMATION EBIT BREAKDOWN Q1 2025 Rest of Latin Northern (€m) France Europe America America AMEA Others TOTAL RENEWABLE & FLEX 292 234 375 125 135 -10 1,152 POWER INFRASTRUCTURES 1,023 216 211 -2 16 -11 1,453 SUPPLY & ENERGY 176 227 0 0 -3 891 1,291 MANAGEMENT OTHERS 0 0 -1 -16 -1
Slide 19: Outright Power Production in Europe
Q1 2025 FINANCIAL INFORMATION OUTRIGHT POWER PRODUCTION IN EUROPE NUCLEAR AND HYDRO Hedged positions and captured prices (% and €/MWh) 100% 81% 51% 26% 111 104 85 As of 31 March 2025 64 Belgium and France 2024 2025 2026 2027 Captured prices are shown • before specific Belgian nuclear and French CNR
Slide 20: Disclaimer
DISCLAIMER Important Notice The figures presented here are those customarily used and communicated to the markets by ENGIE. This message includes forward- looking information and statements. Such statements include financial projections and estimates, the assumptions on which they are based, as well
Slide 21: For More Information About ENGIE
FOR MORE INFORMATION ABOUT ENGIE +33 1 44 22 66 29 ir@engie.com https://www.engie.com/en/financial-results FOR MORE INFORMATION ABOUT Q1 2025 FINANCIAL INFORMATION: https://www.engie.com/en/finance/results/2025 21 ENGIE MAY 2025