Engie might book net 2015 loss on asset writedowns - Le Monde - RTRS
09-FEB-2016 15:09:03
PARIS, Feb 9 (Reuters) - French gas and power group Engie ENGIE.PA might book a net 2015 loss due to asset writedowns, French financial daily Le Monde reported on Tuesday, without citing sources.
A spokesman for Engie declined to comment.
In 2014, Engie earned net income of 2.4 billion euros ($2.71 billion), reversing a 9.6 billion euro loss in 2013, when it wrote down 15 billion on its gas power plants and gas storage facilities.
At the publication of its nine-month 2015 results in November, Engie warned it would book an asset writedown in the fourth quarter, which would impact its bottom-line net profit, but not its recurring profit.
The firm at the time also said it expected its 2015 net recurring income, group share, to be at the low end of its 2.75 to 3.05 billion euros forecast, based on estimated core earnings before interest, tax, depreciation and amortisation (EBITDA) between 11.45 billion and 12.05 billion euros.
Engie's nine-month EBITDA fell 7.5 percent to 8.1 billion euros due to the impact of lower oil and gas prices on exploration-production activities and LNG sales, to lower power prices and the unavailability of its Belgian nuclear reactors.