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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
ENERGY SECTOR
- Engie FY results look like a miss on Results (EUR 82.6bn vs. EUR 95bn consensus) though EBIT missed at EUR 9.5bn vs. EUR 10.3bn consensus (vs. guidance of EUR 9-10bn). Net Recurring Income of EUR 5.4bn also met guidance of EUR 5.1-5.7bn.
- FY OCF was in-line at +63% YoY to EUR 13.1. EBITDA leverage of 3.1x is +0.3x vs. FY22 against the re-affirmed mgmt. target of <4x.
- EBIT guidance for FY24 and FY25 has been increased while Net Recurring Income guidance has been increased for FY24 but lowered for FY25 (see below).
- Spreads mostly muted.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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