November 7, 2018 / 7:14 AM / 5 days ago

Utility Engie says outlook depends on Belgian nuclear outage calendar

PARIS, Nov 7 (Reuters) - French gas and power group Engie confirmed its 2018 earnings guidance but said this would depend on being able to restart its Belgian nuclear reactors as scheduled.

Nine-month revenues edged up 0.4 percent to 43 billion euros ($49 billion). Core earnings before interest, tax, depreciation and amortisation (EBITDA) slipped 0.3 percent to 6.5 billion euros, although they were up 5 percent on an organic basis.

Operating income was stable at 3.5 billion euros, but up 7.7 percent on an organic basis.

Engie confirmed its guidance for net recurring income between 2.45-2.65 billion euros, albeit one expected at the low end of that range, but added this was based on the assumption of a scheduled restart of the Belgian nuclear.

The availability of its seven Belgian reactors will be just 52 percent in 2018, compared to 75 to 80 percent in a normal year, which will cut Engie core earnings by 600 million euros this year.

$1 = 0.8741 euros Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta

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