Engie sees fall in half-year earnings after closure of Belgian nuclear plant
French group Engie, which operates nuclear power plants in Belgium, reported EBITDA (earnings before interest, taxes, depreciation and amortisation) of 8.3 billion euros in the first half of the year, down 7.4 per cent on the same period last year.
The group published its results on Friday and is forecasting net income for 2025 of between 4.4 and 5 billion euros. Revenue amounted to 38.1 billion euros in the first half of the year, slightly up on the same period last year.
Recurring net income attributable to the group fell by 18.8 per cent to 3.1 billion euros. The group attributes the decline to lower prices, decreasing market volatility and lower nuclear and hydroelectric power production.
The results reflect the permanent closure of the Doel 1 reactor in Belgium and lower hydroelectric production in France, according to the group.
Doel 1 was disconnected from the high-voltage grid in February after 50 years of electricity production. It was the third Belgian nuclear reactor to be permanently decommissioned, following Doel 3 in 2022 and Tihange 2 in 2023. Doel 2 will follow on 30 November.
In March, Engie and the Belgian government agreed a 10-year extension for the Tihange 3 and Doel 4 reactors, as well as on the transfer of responsibility for nuclear waste. The group also completed the first phase of work for 2025 on the Tihange 3 reactor, which restarted on 10 July.
#FlandersNewsService | The Doel nuclear plant in Antwerp province © PHOTO BELGIAN FREELANCE
Related news
