Energiser Investments Share Discussion Threads

[sarkasm] 13/4/2016 06:59

p

this is a french quoted share

found under ENGI FULL NAME ENGIE

THREAD IS NOTHING TO DO WITH THE LSE QUOTED ENGI FULL NAME Energiser

[praipus] 12/4/2016 22:14

"4spiel - 26 Feb 2016 - 12:33:13 - 17 of 39
The dividend ok for now and some consolation that it will continue. With interest rates at low levels even negative whilst a future cut is declared that is not itself a catastrophe taking into account the lower share price.Hopefully there will be some recovery in energy prices. Share price near to the lower end of range in recent years- it's come a long way from 28 euros not good for any who held uncovered.So not much in the way of upside here in the short term and obviously improvement will depend on structural changes away from tradional power plants."

"held uncovered"?

I hold via ECWO,ECWL but have been looking at ENGIE can you tell me are there traded options available for this stock? If so where? Or are you refering to SpreadBets, CFD's?

How are most people here trading this?

Ta in advance P.

[la forge] 12/4/2016 08:21

April 12, 2016 03:02 AM Eastern Daylight Time
Saudi Aramco and Engie Confirm Sponsorship of 2016 World Energy Congress, Istanbul

The 2016 World Energy Congress is taking place in Istanbul, 9-13 October 2016

ISTANBUL--(BUSINESS WIRE)--With less than six months to go until the opening of the 2016 World Energy Congress, which is taking place in Istanbul between 9th and 13th October, we are delighted to confirm that a broad range of partners from right across the energy spectrum have confirmed their exhibition space. These partners include Saudi Aramco, Sonatrach, ITER, Engie and Qatar Petroleum.

“Turkey is positioned at the crossroads of the most important energy markets at a time of profound global change in the energy debate, and it is an honour to host the 23rd World Energy Congress.”

The World Energy Congress is regarded as the most influential and inclusive gathering of senior leaders from all segments of the energy community and is attracting speakers with global reputations from senior figures in politics, business and academia. To date 176 speakers have already been confirmed, including Fatih Birol (IEA), Bob Dudley (BP), Seung – Hoon Lee (KOGAS), Kandeh Yumkella (SE4all), Strive Masiyiwa (Econet) and many more.

Hasan Murat Mercan, President of the Turkish Member Committee, World Energy Congress commented: “We are delighted to have such a high calibre of organisations joining us as speakers and exhibitors. The Congress is an excellent platform for all companies and organisations in the sector to come together, network, share ideas and collaborate on the future challenges and opportunities.

“Turkey is positioned at the crossroads of the most important energy markets at a time of profound global change in the energy debate, and it is an honour to host the 23rd World Energy Congress.”

The early bird registration discount is available until 30th April. Click here to register.

For more information on the World Energy Congress and speakers, click here: hxxp://www.wec2016istanbul.org.tr/.

Notes to Editors:

About the World Energy Congress

The triennial World Energy Congress has gained recognition since the its event in 1923 as the premier global forum for leaders and thinkers to debate solutions to energy issues. In addition to the discussions, the event provides an opportunity for executives to display their technologies and explore business opportunities.

For more information about the World Energy Congress 2016 and to register, visit: hxxp://wec2016istanbul.org.tr/

Follow the Congress at @WECongress for regular updates.

About the World Energy Council

Founded in 1923, the World Energy Council is the only truly global and inclusive forum for thought-leadership and tangible engagement committed to our sustainable energy future. Our network of 93 national committees represents over 3000 member organisations including governments, industry and expert institutions. Our mission is to promote the sustainable supply and use of energy for the greatest benefit of all. The World Energy Congress is the world's premier energy gathering.

Contacts

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[waldron] 07/4/2016 15:24

BRUSSELS, April 7 (UPI) -- Adding on to the Nord Stream natural gas pipeline running from Russia to European shores would impact the regional market significantly, an EU official said.

Russian energy company Gazprom in September signed shareholder agreements on the development of the second phase of the twin Nord Stream pipeline system with its counterparts at German energy companies BASF and E.ON, as well as those from French company ENGIE, Austria's OMV and Royal Dutch Shell.

Under the proposed expansion, two more lines would be added to the existing network running through the Baltic Sea to the German coast, roughly doubling the pipeline's net capacity.

The European Union has expressed concern about Russia's control over the regional market as the Russian gas company typically controls both the transit networks and the reserves they deliver.

Maros Sefcovic, a European leader on energy issues, told members of the European Parliament in Brussels concerns about the second phase of Nord Stream go beyond immediate regulatory matters.

"Nord Stream 2 could alter the landscape of the EU's gas market while not giving access to a new source of supply or a new supplier, and further increasing excess capacity from Russia to the EU," he said.

Gazprom said last year the expansion would not meet the regulatory conditions to be considered a new project. The second phase of Nord Stream would be developed by a company named New European Pipeline, and Gazprom would hold a 51 percent share.

In January, Ukrainian energy company Naftogaz, which has been under pressure from Gazprom to meet its contractual obligations, filed an official complaint in Europe, arguing Russian gas pipeline expansion plans would limit competition.

Russia meets about a quarter of European gas needs, though most of those reserves head through the Soviet-era pipeline network in Ukraine.

All networks, stressed Sefcovic, face the potential for disruption.

[grupo guitarlumber] 02/4/2016 11:43

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Temco Service Industries acquired by Atalian

Cofely Services Inc. has changed its name to ENGIE Services Inc., effective April 4, 2016. This comes following the ENGIE Group’s decision to consolidate all of its companies under a single brand. The company says ENGIE is “a simple, universal name that evokes energy for all, in every culture.”

ENGIE Services provides businesses and communities in 70 countries with solutions for the rapidly-evolving issues found in the energy sector, such as developing renewable, carbon-free energy, reducing energy use, the digital revolution and others.

With this consolidation under one name, the company hopes to become a major player in the energy transition in North America by providing its clients with a broader range of solutions, such as procurement, facility management and energy performance commitments.

“While our company’s name is changing, client services will remain our organization’s core value,” said Francois Dépelteau, Cofely Services president and CEO, in a press release. “We will definitely continue to give our clients the same attention and service quality as before. But our aim is to serve them even more comprehensively through additional solutions as ENGIE Services.”

ENGIE Services’ Energy Services business consists of 2,400 employees in North America, handling such businesses as electricity generation and cogeneration, natural gas and liquefied natural gas (LNG), distribution and sales, retail energy sales and energy optimization services for clients such as airports, office buildings and industrial sites.

[the grumpy old men] 25/3/2016 22:26

Lindsey Janies/Bloomberg

The liquefied natural gas tanker Asia Vision left Cheniere Energy's Sabine Pass export terminal in Louisiana on Wednesday with the first cargo of U.S. shale gas.
By DANIEL GROSS
Published: 25 March 2016 05:06 PM
Updated: 25 March 2016 05:06 PM

The story of the history of the United States is one of innovations and infrastructure working in tandem to forge new trade channels and routes. Some were abhorrent, like the triangle trade, which involved slaves and agricultural materials. The Erie Canal linked the farms of the Midwestern U.S. with the consumers of the Eastern Seaboard and Europe. The invention of electronics and personal computers created heavily traveled trade routes linking factories in Asia to ports on the West Coast of the United States. And now it’s fracking’s turn.

Fracking has fundamentally altered America’s economic trajectory by liberating vast resources of both oil and natural gas from the ground beneath our feet. And until very recently, these supplies were essentially stranded. The U.S. has a reasonably good system for moving crude oil around the U.S. — pipelines, and trains in a pinch. But laws prohibited the oil from being exported. (The ban was lifted last year.) Supplies of natural gas were even more constricted. To export oil, you simply pump crude onto one of the thousands of tankers that ply the seas, which can unload them with relative ease at thousands of points around the world. Moving natural gas around the globe is much more complicated. You need very expensive, highly specialized equipment to process it into a liquid form so that it can be shipped; highly specialized ships that can carry the cargo; and, finally, dedicated terminals that can unload and process the gas.

Until this year, the U.S. had no functioning capacity to export liquefied natural gas.

Which is too bad. Precisely because it doesn’t easily move around the world, the price of natural gas varies widely across the globe. In Japan, the spot price of natural gas is $8.25 per million Btus, compared with about $2 per million Btus in the U.S. That means beleaguered U.S. natural gas producers have a huge opportunity to get a higher price for the product and a willingness to absorb a chunk of the infrastructure cost.

And natural gas can be a powerful force of American soft power. Europe has a significant problem. It would like to use less coal, and more natural gas, to produce heat and electricity. But a lot of Europe’s natural gas comes from Russia. The Baltic states, Hungary, the Czech Republic, and Bulgaria each get more than two-thirds of their gas from Russia while Germany, Italy, Austria, and Poland each get more than one-third from there. Worse, Russia has proved willing, over and over again, to use natural gas as a weapon of power and intimidation, especially against former satellite states. If the U.S. could figure out a way to ship lots of natural gas to Eastern Europe, it would be a move evoking the Berlin airlift — bringing both hope and needed supplies.

Good news, then: In the past month, natural gas exports have started in earnest. Several years ago, Cheniere Energy began building a massive project on the Louisiana coast from which it could export natural gas. And on Feb. 24, the company announced that port’s first cargo had been loaded on to an LNG carrier called Asia Vision, bound for Brazil. Asia Vision arrived in Rio de Janeiro last week.

This week, fracking opened a new trade route. As The Wall Street Journal reported, Range Resources and Consol Energy, two companies active in the Marcellus Shale formation, have struck a deal with Ineos, a U.K.-based company. The American firms drilled for natural gas in Western Pennsylvania, distilled it into 27,500 cubic meters of liquid ethane, and then loaded it onto a ship at the Marcus Hook terminal near Philadelphia on March 9. On Wednesday, it arrived in Norway, where it will be used at a refinery. Ineos has set up what it calls a “virtual pipeline across the Atlantic,” a group of ships that will cross the northern Atlantic carrying ethane from the New World to the Old World.

Now, these shipments are mere drops in the bucket of global demand. A couple of big boats filled with liquefied versions of natural gas won’t change the balance of power in Europe, or signify a powerful new source of American influence, or reflate the depressed price of U.S.-produced natural gas. But they could be the start of something. Ineos told The Wall Street Journal that within four years it envisions filling eight monthly shipments from the U.S. Several other LNG export terminals are under construction in the U.S. It’s not too difficult to imagine that within a decade there could be a host of virtual pipelines connecting the U.S. to distant points south, east, and west. Every major trade route opens with a maiden voyage.

Daniel Gross is the author of “Better, Stronger, Faster: The Myth of American Decline … and the Rise of a New Economy.” Twitter: @grossdm

[grupo guitarlumber] 15/3/2016 21:15

Visit windpowermonthlyevents.com for the latest on our upcoming conferences and webcasts
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Engie completes Maia Eolis takeover

15 March 2016 by David Weston , Be the first to comment

FRANCE: Utility Engie (formerly GDF Suez) has taken full control of development firm Maia Eolis after acquiring the 51% of the company it did not already own.
Engie has acquired Maia Eolis' wind portfolio, including 246MW of operating assets
Engie has acquired Maia Eolis' wind portfolio, including 246MW of operating assets

Maia Eolis owns and operates 21 projects, mostly in north-east France, totalling 246MW.

Its pipeline also consists of a possible 250MW of projects under construction or fully permitted, plus 400MW in development, all in France, Engie said.

Engie already had a 49% stake in Maia Eolis, with the other 51% owned by the Maia Group, a French infrastructure company. Engie said it been a partner in the wind developer for ten years.

"Maia Eolis, which we now control 100%, is a recognised player in wind for operation and maintenance. Its expertise will strengthen the [Engie] group's operational excellence in this field. In the context of the sector's strong growth between now and 2020, we intend to augment the development of projects already undertaken by Maia Eolus teams," commented Engie CEO Gerard Mestrallet.

In July 2015, Maia Eolis sold 379MW of its French development portfolio to local renewable energy firm Voltalia.

[la forge] 12/3/2016 10:27

Siemens boss sees bright future for oil and gas
Posted on 12 Mar 2016
inShare
Siemens boss sees bright future for oil and gasAt a US conference at the end of last month, Siemens (www.siemens.co.uk) CEO Joe Kaeser said that the long-term fundamentals for the oil and gas industry are “positive̶1; and he is “very optimistic about this business.”

He said that depressed oil prices mean companies are in “a competitive landscape” where they need to discover new ways to become more efficient. New technologies such as computer simulations could help oil companies “map out processes and use their wealth of data to optimise their investments”.

Mr Kaeser said he believes that Siemens’ future lies in “a world increasingly drawing on power from renewable sources”, adding that the private sector “has a responsibility to engage actively in global efforts to reduce greenhouse-gas emissions and to help the world move toa low-carbon, climate-resilient economy.”

Mr Kaeser said that Siemens has recently invested in the oil and gas industry. Towards the end of last year, the German group acquired Texas-based Dresser-Rand — a manufacturer of industrial equipment for the oil, gas and process industries — for $7.8 billion.

“The current price of oil increases the focus of our customers on ways to reduce costs. Despite the challenges presented by a low oil price, it also brings opportunities as we focus our efforts on offers that reduce costs and increase efficiency.”

Mr Kaeser concluded his speech by saying that “people want to make a difference in life, so making them proud to work for a company is the best way to attract top talent. For employees trying to understand their role in our huge organisation, the key is to have them treat it as if they owned it. No matter what you do, no matter who you are, act as if it was your own company and you’ll be fine.”

[grupo] 09/3/2016 07:25

Engie to supply LNG to AES power plant project in Panama
Published 07 March 2016

Engie has signed a binding memorandum of understanding with Gas Natural Atlantico, under which Engie will supply up to 400,000 tonnes of LNG per year from 2018 on a 10-year period at Costa Norte LNG Terminal in the Colon Province, Panama.

Both subsidiaries of AES in Panama, Costa Norte LNG Terminal and Gas Natural Atlantico are currently developing an integrated LNG to power project at the entrance of the Panama Canal, to come on-line in 2018.

The project includes an LNG import terminal with 180,000 cubic meter storage capacity, which will provide natural gas to a 350 MW CCGT. This new Combined Cycle Gas Turbine will contribute to developing and securing Panama's power demand by complementing the country's hydro-power generation.

Gerard Mestrallet, Chairman and Chief Executive Officer of Engie, commented: "We are pleased to enter into this long-term relationship with AES in Panama, with the perspective of broader common developments in the region in the field of natural gas. We consider natural gas as a key component, alongside the renewable energies, of the energy transition which is currently taking place on a global scale. It is Engie's commitment to foster its expansion worldwide, in particular in the form of LNG as a flexible, clean and competitive energy supply."




Source: Company Press Release

[waldron] 05/3/2016 17:55

ENGIE buys UK digital energy management firm

Mar 03, 2016 Jacqueline Echevarria Smart Data 0
Image: ENGIEImage: ENGIE

ENGIE has bought a digital energy management firm based in Plymouth.

The purchase of C3 Resources supports the energy firm’s strategy to deliver innovation in customer-led solutions using technology, the firm stated.

It will use C3’s digital platform to manage large volumes of energy and environmental data, which predicts energy usage and takes proactive action to better control energy.

It will operate alongside other platforms and data collection systems forming ENGIE’s Resource Intelligence Centre (ERIC).

Paul Rawson, Divisional CEO of Energy Solutions at ENGIE in the UK said: “Organisations are experiencing a change in the way they consume, manage and pay for energy in an increasingly decentralised and complex market environment.

“We see technology and digitalisation as playing a growing role in the delivery of improved service efficiency by linking data from a variety of sources.”

energy management, Engie, UK

[sarkasm] 29/2/2016 20:22

ENGIE Subsidiary OpTerra Opens San Diego Office
Backed by multinational corporation ENGIE, OpTerra Energy Services will help advance San Diego's sustainability economy

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Some of OpTerra San Diego's regional team based out of the new OpTerra office in Solana Beach.
OpTerra Energy Services: Building the Sustainable Energy Economy.

SOLANA BEACH, Calif., Feb. 29, 2016 /PRNewswire/ -- OpTerra Energy Services, an Oakland-based energy services company that has achieved $2 billion in energy savings for its partners to date, has opened a new office in San Diego to support the region's growing sustainability needs in both the private and public sector. OpTerra was recently acquired by a member of the ENGIE Group in North America. ENGIE, a global energy player headquartered in Paris, France, is an expert operator in electricity, natural gas, and energy services. The new OpTerra branch will be located at 201 Lomas Santa Fe Drive, Suite 480 in Solana Beach.



OpTerra works with private- and public-sector facilities to reduce energy consumption and energy cost, enabling customers to save valuable dollars that can be redirected to address other, mission-critical priorities. The company works with customers in K-12, higher education, and local government institutions, as well as commercial and industrial entities in industries such as biotechnology, healthcare, hospitality, data centers, supermarkets, and more.

OpTerra has already helped advance San Diego's sustainable energy economy through projects with the San Dieguito Union High School District (SDUHSD) and the City of Solana Beach. A 2MW solar project was completed at SDUHSD with an anticipated energy savings of over $10 million for the district. OpTerra also reduced annual energy consumption for the City of Solana Beach by upgrading more than 500 streetlights to highly efficient LED lighting, installing a "cool roof" and a new HVAC system at City Hall – saving more than $40,000 in its first year alone.

"San Diego is a world-recognized leader in innovation, clean technologies, and sustainable business practices, which means OpTerra is extremely well poised to do business here," said Jason Anderson, President and CEO of Cleantech San Diego. "We are excited by OpTerra's commitment to advancing their business within the San Diego region, and believe the company will become a critical player in helping to advance San Diego's cleantech economy."

Now backed by ENGIE, OpTerra is even better positioned to serve the sustainability needs of the local San Diego market. Founded in 1822, ENGIE is present in 70 countries, employs over 150,000 people, and achieved revenues of $76 billion in 2014.

"San Diego is a cutting-edge leader in innovation and sustainability, so naturally, we're seeing more demand for our services in the region," said John Mahoney, CEO of OpTerra Energy Services. "We look forward to partnering with customers in San Diego to create safer, greener, and more inviting communities for residents and businesses."

About OpTerra Energy Services
OpTerra Energy Services is a national energy company that works with education, local government, commercial, industrial, and institutional organizations to implement efficiency and sustainable energy solutions that save money, enhance safety, improve assets, and protect the environment. The company has provided more than $2 billion in energy savings for its customers from coast to coast in the United States over the past 40 years. For more information, please visit www.opterraenergy.com.

About ENGIE
ENGIE, which is evolving as the new name for GDF SUEZ around the world, manages a range of energy businesses in the United States and Canada, including electricity generation and cogeneration, natural gas and liquefied natural gas (LNG) distribution and sales, retail energy sales, and services to help customers run their facilities more efficiently and optimize energy use and expense. Globally, the company is present in 70 countries and employs 152,900 people. For more information, please visit www.gdfsuezna.com and www.engie.com.



Media contacts:


Molly Borchers



(W)right On Communications



[e-mail]



858/888-0434





Lani Wild



Communications Manager, OpTerra Energy Services



[e-mail]



415/735-9080





Photo - hxxp://photos.prnewswire.com/prnh/20160229/338567
Logo - hxxp://photos.prnewswire.com/prnh/20150311/181149LOGO



SOURCE OpTerra Energy Services


RELATED LINKS
hxxp://www.opterraenergy.com

[ariane] 27/2/2016 15:40

ENGIE Launches Three-Year Transformation Plan To Lead World Energy Transition

February 26th, 2016 by Joshua S Hill

French energy giant Engie has launched a three-year strategic transformation plan to become a world leader in the global energy transition.

ENGIE-logoThe announcement is part of the company’s intentional plan to speed up the implementation of a strategy previously decided upon two years ago. Specifically, Engie will attempt “to adapt its portfolio of activities to its long term vision and to grasp new development opportunities.”; Engie will focus its new developments on the following three areas:

low CO2 activities which will represent more than 90% of Group’s Ebitda by 2018
activities not exposed to commodity prices, such that the share of contracted/regulated activities in Group’s Ebitda will be >85% by 2018
integrated customer solutions, which Ebitda will grow by more than 50% over the period

The acceleration in the form of its three-year transformation plan has four separate objectives:

redesign the Group’s portfolio of activities, by leveraging on its historical positions and strong financial structure
improve the Group’s efficiency
pave the way for the future, notably by investing in innovation and new technologies
adapt the Group to make it agile and open to the external world, based on a simplified organization, closer to territories

“In a deteriorated market context, ENGIE launches today an ambitious 3-year transformation plan to become leader of the world energy transition,” said Gérard Mestrallet, Chairman and Chief Executive Officer of ENGIE. “This plan aims at redesigning the portfolio of activities of the Group, thanks to a EUR 22 billion Capex program and a EUR 15 billion portfolio rotation program, and at improving its risk profile by reducing its exposure to commodity prices. We want to focus on low carbon activities and on integrated customer solutions, while improving the efficiency of the Group.”

OpterraAs the first major stepping stone on its transformation path, Engie revealed that it had acquired OpTerra Energy Services and its affiliated companies; sold 13 GW worth of power generation assets — of which 10 GW was exposed to commodity prices in the US; and included two coal-fired power plants worth 3 GW in India and Indonesia.

“These transactions perfectly illustrate the implementation of our transformation plan, to reduce ENGIE’s carbon footprint and its exposure to commodity prices, and to focus on two of our priorities: developing a low CO2 energy mix and innovative and integrated solutions for our clients,” added Gérard Mestrallet.

“Through the acquisition of OpTerra, ENGIE thus becomes the third US leader in energy services. With the disposals in the USA, India, and Indonesia, we already realize over one third of our three-year €15 billion portfolio rotation program, while reducing by 20% our coal-fired generation installed capacity.”

“ENGIE is an ideal home for OpTerra to deliver meaningful energy efficiency and sustainable solutions to a vast array of customers in the United States,” said John Mahoney, CEO of OpTerra Energy Services. “This acquisition is in line with our long-term growth strategy, and the entire OpTerra team is ready to leverage ENGIE’s presence here to broaden our suite of offerings to our current and future customer base.”

It’s a striking move by a company which has often been criticized for its dirty power generation — most notably of late, Australia’s dirtiest coal power plant, the Hazelwood power station in the southern state of Victoria.

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[ariane] 27/2/2016 08:55

NICE POST 4s

enjoy your weekend

[4spiel] 26/2/2016 12:33

The dividend ok for now and some consolation that it will continue. With interest rates at low levels even negative whilst a future cut is declared that is not itself a catastrophe taking into account the lower share price.Hopefully there will be some recovery in energy prices. Share price near to the lower end of range in recent years- it's come a long way from 28 euros not good for any who held uncovered.So not much in the way of upside here in the short term and obviously improvement will depend on structural changes away from tradional power plants.

[waldron] 25/2/2016 12:03

Engie Pushed to Loss by Hefty Write-Downs -- Update
25/02/2016 9:52am
Dow Jones News

Engie (EU:ENGI)
Intraday Stock Chart

Today : Thursday 25 February 2016
Click Here for more Engie Charts.

By Inti Landauro

PARIS--French power utility Engie said Thursday that it plunged to a net loss in 2015 after booking hefty write-downs prompted by problems in the oil and gas market.

Engie wrote down EUR8.7 billion ($9.58 billion) worth of assets because of current market conditions, mainly in the oil and gas extraction industry and on power generation assets supplying spot markets.

The impact on the company's bottom line was EUR6.8 billion, pushing it to a net loss of EUR4.6 billion from a EUR2.4 billion net profit in 2014.

The company, formerly known as GDF Suez, said its 2015 net recurring income--a measure that strips out restructuring costs and other impairments--was EUR2.6 billion, below its targeted range of EUR2.75 billion to EUR3.05 billion set in late 2015.

A group of analysts polled by FactSet expected net recurring income of EUR2.47 billion.

Engie's poor performance in 2015 is an example of how sluggish demand for energy and subsidies for renewable energy have hit European utilities by making traditional power plants unprofitable. The company took write-downs of $20 billion two years ago.

Engie also decided to dispose of some assets that exposed it to shifting commodity prices, and plans instead to focus on businesses with regulated prices and on renewables.

Engie will sell assets worth EUR15 billion and invest EUR22 billion between 2016 and 2018 to bring its share of earnings before interest, taxes, depreciation and amortization from contracted and regulated activities to 85% from 50% at the end of 2015.

The company's deputy chief executive, Isabelle Kocher, said Engie sold its thermal power assets in the U.S. for EUR4.1 billion. It sold thermal power plants with a capacity of 8.7 gigawatts to a joint venture formed by Dynegy Inc. and Energy Capital Investment for $3.3 billion, and hydropower plants with a capacity of 1.2 gigawatts to Canadian pension fund PSP Investments for $1.2 billion. The company will use the proceeds to reduce its debt.

Separately, Engie also agreed to sell coal-fired power plants in India and Indonesia that will result in another debt reduction of EUR1.4 billion.

The company said its overall revenue in the year fell to EUR69.9 billion from EUR74.7 billion, while Ebitda was down 7.2% at EUR11.3 billion.

It will keep its dividend at EUR1 a share this year and next and will lower it in 2017 and 2018 to EUR0.70 a share.

Write to Inti Landauro at [e-mail]



(END) Dow Jones Newswires

February 25, 2016 04:37 ET (09:37 GMT)