Engie raises profit forecasts after strong earnings results

Engie SA has raised its profit forecasts for 2025, expecting net recurring income between €4.4 billion and €5 billion, surpassing analyst estimates. This comes after increased investments in renewable energy and cost reductions. The company reported a 3.1% profit increase for 2024, reaching €5.5 billion, aided by strong performance in hydro and renewables. Engie also proposed a dividend of €1.48 per share. Engie faced about €700 million in charges last year due to asset value drops and reported over €100 million in provisions for US offshore wind projects. The company plans to finalize a partnership with the Belgian government to extend the lifespan of two nuclear reactors.