FINANCE

2024 Full-year Results

By ENGIE - 26 February 2025 - 20:52

Another year of strong operational and financial performance
Proposed dividend of €1.48 per share for 2024

 

Business highlights

  • Record level of activity in Renewables with 4.2GW added in 2024, bringing total capacity to 46GW1
  • Acceleration in battery storage with more than 5GW of capacity in operation or under construction at 31 December 2024
  • Expansion in power transmission with the award of close to 1,200km in Brazil and Peru
  • Continuous progress in our Net Zero 2045 trajectory with a 55% reduction in GHG emissions from energy production compared to 2017 to 48Mt in 2024.
  • Approval by the European Commission of the final agreement on Belgian nuclear


Financial performance

  • High end of the 2024 Guidance achieved with NRIgs2 of €5.5bn, an organic increase of 3.4%
  • EBIT excluding nuclear of €8.9bn, down 5.6% organically versus a high 2023 basis for comparison
  • Strong CFFO3 generation at €13.1bn
  • Maintaining a solid balance sheet with economic net debt to EBITDA ratio at 3.1x stable vs. end-2023
  • Net financial debt and economic net debt at €33.2bn and €47.9bn respectively
  • Proposed increased dividend of €1.48 for 2024, corresponding to a pay-out ratio of 65%
resultats-FY-2024-EN
over-the-years-image

2024 was once again a year of strong operational and financial performance, with significant cash flow generation. We achieved a record level of activity in renewables, adding 4.2 GW of new capacity over the year, bringing our total installed capacity to 46 GW. The acceleration of our development in battery storage was also confirmed, with more than 5 GW in operation and under construction by the end of the year. Finally, we also achieved a crucial step related to the agreement to de-risk the Group’s nuclear activities in Belgium, obtaining approval from the European Commission. I would like to extend my sincere gratitude to ENGIE’s teams for their dedication and essential contribution to these achievements. These advancements and our performance demonstrate ENGIE’s ability to invest and create sustainable value in support of building a decarbonized, reliable, and affordable energy system.

Catherine MacGregor – CEO

1 Total capacity including a 0.8GW adjustment related to a change in definition
2 Net recurring income Group share
3 Cash Flow From Operations: Free Cash Flow before maintenance Capex and nuclear phase-out expenses