PARIS (dpa-AFX) - French natural gas and electricity supplier Engie SA (ENGQF.PK, ENGIY.PK) reported Friday that its fiscal 2020 net loss Group share was 1.5 billion euros, compared to prior year's profit of 1 billion euros.
Net recurring income Group share or NRIgs was 1.7 billion euros, down 36.5 percent from 2.7 billion euros last year.
Current operating income dropped 21.3 percent to 4.6 billion euros from 5.8 billion euros a year ago.
EBITDA went down 10.5 percent to 9.3 billion euros from 10.4 billion euros last year.
Revenues for the year declined 7.2 percent to 55.8 billion euros from 60.1 billion euros a year ago. Organically, revenues fell 5.7 percent.
Further, the Board has reaffirmed the company's dividend policy of NRIgs payout ratio in the range of 65 to 75%.
For 2020, the Board has proposed a payout ratio of 75%, at the top end of the policy range. This translates to a dividend of 0.53 euro per share, which will be proposed for shareholder approval at AGM on May 20.
Looking ahead dor 2021, ENGIE anticipates a Net Recurring Income group share in the range of 2.3 billion euros to 2.5 billion euros. This guidance is based on an indicative EBITDA range of 9.9 billion euros to 10.3 billion euros and a Current operating income range of 5.2 billion euros to 5.6 billion euros.
Overall financial performance in 2021 is expected to improve significantly after a Covid-19 impacted 2020, assuming no additional stringent lockdowns and a gradual easing of restrictions over 2021.
Copyright RTT News/dpa-AFX
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