May 15, 2018 / 6:06 AM / 2 months ago

RPT-Utility Engie's Q1 earnings rise 3 pct

(Repeats to attach to earlier news alerts)

PARIS, May 15 (Reuters) - Gas and power utility Engie said strong growth in French renewable power production and retail sales boosted its first-quarter core earnings by three percent, in line with expectations.

First-quarter revenue rose 1.2 percent to 17.5 billion euros ($20.9 billion), while core earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 3.0 percent to 3.2 billion euros.

Engie’s current operating income also rose 3.1 percent to 2.2 billion euros.

A Thomson Reuters poll of seven analysts had forecast EBITDA of 3.13 billion euros and current operating income of 2.15 billion euros.

On an organic basis, excluding items such as the impact of foreign exchange movements, core earnings were up by 6.0 percent. Engie said the weakness of the Brazilian real currency and the dollar against the euro had a negative impact on its results.

Engie also confirmed its 2018 earnings guidance for 2.45-2.65 billion euros of net recurring income, core earnings of 9.3-9.7 billion euros and a cash dividend of 0.75 euros per share.

$1 = 0.8390 euros Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta

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