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Utility Engie warns on profit impact from Belgian nuclear outages

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Utility Engie warns on profit impact from Belgian nuclear outages

Utility Engie warns on profit impact from Belgian nuclear outages
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CHARLES PLATIAU(Reuters)
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PARIS (Reuters) - French gas and power group Engie <ENGIE.PA> warned on Friday that the extension of outages at its Belgian nuclear plants will push its 2018 net recurring income to the low end of its 2.45-2.65 billion euros (2.2-2.3 billion pounds) forecast range.

It said the longer outages would result in a shortfall of around 250 million euros in core earnings before interest, tax, depreciation and amortisation (EBITDA) and net recurring income.

Engie shares, which had been down by about two percent on news of the longer outages, recovered a bit of ground although the stock remained 0.6 percent weaker by 1325 GMT.

(Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta)

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