PARIS (dpa-AFX) - GDF SUEZ (GDSZF.PK, GDFZY.PK) reported net income Group share of 2.44 billion euros in 2014, compared to a loss of 9.65 billion euros, prior year. Net recurring income, Group share, was 3.1 billion euros, a decrease by 0.3 billion euros compared to last year.
Group Ebitda, which amounted to 12.14 billion euros, was down 6.7% (gross) and was down 4.2% (organic decrease). Adjusted for weather impact in France and the gas tariff recoup booked in 2013, Ebitda was up by 2.4% on an organic basis.
Revenues were 74.69 billion euros, a decrease of 6.6% (gross) compared to 2013 and an organic decrease of 7.2%. The company said the decrease is mainly due to the impact of climatic conditions on sales of natural gas in France (2014 was particularly mild) and lower electricity market prices in Europe.
The Group has decided to launch a quick operational reaction plan in addition to Perform 2015, focused on targeted reductions in opex (250 million euros impact on Ebitda 2015) combined with a shift of some growth capex (2 billion euros over 2015-2016).
The Group expects 2015 Net recurring income, Group share, between 3.0 billion euros and 3.3 billion euros, at average weather in France, in line with the figure published for 2014. The guidance is based on estimates for Ebitda of 11.7 billion euros to 12.3 billion euros.
Copyright RTT News/dpa-AFX