September 24, 2018 / 7:03 AM / 3 months ago

Engie EBITDA to be slightly below forecast on Belgian nuclear -CFO

PARIS, Sept 24 (Reuters) - Engie’s 2018 core earnings will be slightly below the utility’s target due to longer than expected outages at its Belgian nuclear plants, but next year the Belgian nuclear availability rate should normalise, Engie’s CFO said on Monday.

On Friday, the French gas and power group warned that the Belgian outages would push its 2018 net recurring income to the low end of its 2.45 billion-2.65 billion euros ($2.9 billion-$3.1 billion) forecast range but did not mention core earnings before interest, tax, depreciation and amortisation (EBITDA).

“We expect Ebitda ... to be slightly below the indication that we had given at the beginning of the year,” said Engie’s CFO.

In February, Engie had said it aimed for core earnings of 9.3 to 9.7 billion euros. (Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta)

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