Engie Sa Ord (ENGQF) Q1 2025 Earnings Call

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WEBVTT 00:00:00.723 -- 00:00:06.050 Thank you and good morning, everyone. It's my pleasure to welcome you to NG's Q1 conference 00:00:06.050 -- 00:00:11.437 call. Shortly, Catherine and Pierre-Francois will present our first quarter performance, 00:00:11.437 -- 00:00:14.240 following which we will open the lines to Q&A. 00:00:14.240 -- 00:00:19.487 And with my polite request of limiting your questions to one or two only, please. 00:00:19.487 -- 00:00:22.150 And with that, over to Catherine. 00:00:22.150 -- 00:00:24.694 All right, thank you, Delphine, and good morning, everyone. 00:00:24.694 -- 00:00:30.828 I am pleased to report an excellent first quarter of 2025. 00:00:30.828 -- 00:00:34.695 with EBIT up versus last year, despite 00:00:34.695 -- 00:00:39.825 normalization of energy markets over the last quarters, and despite the uncertain 00:00:39.825 -- 00:00:43.768 geopolitical and economic environment. 00:00:43.933 -- 00:00:49.783 There's been no let up in our renewables expansion, both organically and via acquisition, 00:00:49.783 -- 00:00:54.824 and we've had the landmark moment of the closing of the nuclear deal in Belgium, 00:00:54.824 -- 00:00:59.852 enabling the transfer of our balance sheet of 12 billion euros of nuclear waste 00:00:59.852 -- 00:01:02.293 storage provisions. 00:01:02.416 -- 00:01:08.125 It's been really great. It's been great to see how resilient and solid ENGIE has become, 00:01:08.125 -- 00:01:13.393 our integrated balanced model and our geographical spread, enabling 00:01:13.393 -- 00:01:18.421 us to maintain earnings by offsetting headwinds and declines in some areas with 00:01:18.421 -- 00:01:21.042 progress elsewhere. 00:01:21.065 -- 00:01:25.792 Now, before detailing our Q1 business performance, let's talk a little bit about how 00:...