Engie Sa Ord (ENGQF) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. It's my pleasure to welcome you to NG's nine-month conference call. Shortly, Catherine and Pierre-Francois will present our nine-month performance, following which we will open the lines to Q&A. And with my polite request of limiting your questions to one or two only, please. And with that, over to Catherine. Thank you, Delphine, and good morning to all of you. I'm very happy this morning to report that Engie has posted another strong performance in the third quarter of 2024, which means that we can be confident of achieving the upper end of our full year guidance, even in the face of an uncertain environment. During the quarter, we continue to showcase our ability to manage and complete multiple renewable projects on time and within budget. Meanwhile, Our battery business, where we've become a major player in the space of just a couple of years, brought further capacity on stream and enjoys exciting growth momentum for the coming years. And we also delivered on our objective of raising the share of power within our network activities by being awarded the major lot in the recent transmission auction in Brazil to add to our existing network business in this core strategic country. Few headline numbers. EBIT excluding nuclear was down 11% at 7.1 billion euros at the nine-month stage, which is to be compared to a very high 9 million 2023. If I look at Q3 in isolation, EBIT was up by a very strong 18%, led by renewables and gems, and also boosted by the start of the new network regulatory period in France, that allowed us to start recouping the revenue shortfall that was built up over the previous years. Cash flow from operations stood at 11.8 billion euros. It's down by 1.1 billion euros year-on-year, but still at a high level. Our balance sheet ...