By Nathan Allen

Engie SA (ENGI.FR) said Thursday that profit fell in 2018, missing estimates, due largely to a series of impairments.

The French utility said net profit fell to 1.03 billion euros ($1.17 billion) from EUR1.32 billion a year earlier, driven by impairment losses, which were partially offset by the sale of its upstream liquefied-natural-gas business.

Revenue edged up to EUR60.60 billion from EUR59.58 billion, Engie said.

Group revenue took a foreign-exchange hit of EUR929 million that was more than offset by changes to the company's portfolio, which contributed EUR955 million, Engie said.

Analysts had forecast net profit of EUR2.31 billion on revenue of EUR63.82 billion, according to a consensus compiled by FactSet.

The group proposed a dividend of EUR0.75 a share, unchanged on year.

For 2019, Engie said it expects recurring net income between EUR2.5 billion and EUR2.7 billion.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

February 28, 2019 02:44 ET (07:44 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Grafico Azioni Engie (EU:ENGI)
Storico
Da Mar 2024 a Apr 2024 Clicca qui per i Grafici di Engie
Grafico Azioni Engie (EU:ENGI)
Storico
Da Apr 2023 a Apr 2024 Clicca qui per i Grafici di Engie