GDF Suez books 15 bln eur charge as energy crisis lasts
PARIS Feb 27 (Reuters) - French gas and power group GDF Suez said it booked a 14.9 billion euro ($20.36 billion) impairment charge as it sees no improvement in Europe's energy crisis.
GDF said it took a 9.1 billion euro impairment on its power generation assets and a 5.8 billion impairment on goodwill. The company swung to a full-year net loss of 9.74 billion euros from a 1.54 billion profit in 2012.
"This decision reflects the group's conviction that this situation is serious and long-lasting," GDF Chief Executive Gerard Mestrallet said on a conference call.
He added that the impairments would have no effect on cash or cash flow generation, which stand respectively at 8.8 billion euros and 10.4 billion.