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Posted at 05/9/2015 11:37 by maywillow Cheaper gas in time for winterSeptember 05, 2015 GAS prices in France are to fall by 1.3% on October 1 - meaning cheaper energy bills for seven million homes that benefit from government-regulated tariffs. The reduced rate applies to customers of Engie, the new name for GDF-Suez, who are on the provider's tarif réglement&eac It follows another 1.3% decline in July and a slight rise (0.5%) on September 1. Prices for gas are adjusted by France's energy regulation committee on a monthly basis, based on the real cost of production, distribution and storage. Until recently, the rates were only revised quarterly. - See more at: |
Posted at 30/8/2015 20:17 by grupo guitarlumber 15Oct 2015 Interim dividend payment 05 Nov 2015 Publication of results as of September 30, 2015 20 Nov 2015 Shareholding Show November 20 and 21 2015 |
Posted at 24/4/2015 19:03 by waldron PARIS--Goodbye GDF Suez SA. Hello Engie.French power utility GDF Suez said on Friday it was changing its name to "Engie," in a bid to reflect a changing energy industry and prepare for the departure of the company's longtime chief executive Gérard Mestrallet. Mr. Mestrallet's scheduled exit comes after 20 years at the helm of a company he has transformed through a series of large mergers and acquisitions. He said he and his anointed successor Isabelle Kocher, who is currently GDF Suez's deputy CEO, decided to change the name. "I personify the construction of the group and its history, Isabelle personifies its future," Mr. Mestrallet, 66, told a news conference as he unveiled the new name and a new logo. He said the new name is shorter--two syllables instead of five--and is easier to associate with the group's business: energy. The management decided to spell the name Engie--pronounced like the Rolling Stones song Angie--because it's reminiscent of the French word "énergie" to keep faithful to its roots. Ms. Kocher, 49, said the new name looks and sounds like a woman's first name. Mr. Mestrallet said a female name is "a coincidence that doesn't displease" him as the company will soon be run by two women, Ms. Kocher and CFO Judith Hartmann. Ms. Kocher's anticipated elevation to the top job would make her the only woman to run one of the 40 top French companies included in the blue chip index CAC 40. Since he took over as CEO of Suez 20 years ago, Mr. Mestrallet has turned the 150-year-old company into a behemoth, with almost 150,000 employees in 70 countries. He successively merged it with water and waste utility Lyonnaise des Eaux--which was later spun off as Suez Environnement--Belgi Most recently, under his guidance, the company has sought to expand mainly in Latin America and other emerging markets, as energy demand in Western Europe stagnated over the past few years. At the same time, European subsidies for renewable energy has made many conventional power plants unprofitable. Mr. Mestrallet said the idea is to gradually place the company's different units under the "Engie" brand. The renaming of the company will cost GDF Suez several million euros, Mr. Mestrallet said, but that isn't much for a company that reported sales worth close to EUR75 billion ($81.2 billion) last year, he added. The new name will be set up gradually and approved definitely at the general shareholders' meeting in mid-2016 when he is due to leave the company after reaching retirement age. GDF Suez is the latest large French company to move to change its name in recent years, often to boost an international profile or to better reflect identity after asset disposals. Luxury and retail group PPR was renamed Kering SA in 2013 and France Téléco Write to Inti Landauro at inti.landauro@wsj.co Access Investor Kit for GDF SUEZ SA Visit hxxp://www.companysp Subscribe to WSJ: |
Posted at 18/4/2015 17:47 by grupo guitarlumber Dividend 2014The Group will pay a dividend of 1 euro in cash for 2014*. An interim dividend of 0.50€ per share was payed October 15th, 2014, the dividend balance of 0.50€ per share will be paid May 5th, 2015 (ex-dividend date of April 30th, 2015). *Subject to the approval of the Yearly General Assembly scheduled for April 28th, 2015 |
Posted at 05/3/2015 06:17 by waldron EUBUSINESSGDF Suez in 2.5-bn-euro bond issue, including rare zero-coupon bond 05 March 2015, 01:12 CET — filed under: France, energy, business, bonds, GDFSuez (PARIS) - French energy giant GDF Suez said it sold four tranches of debt Wednesday for a total value of 2.5 billion euros ($2.7 billion), including a rare zero-coupon bond. "The coupons for each tranche are the lowest obtained by GDF Suez at these maturities in euros. In particular, the two-year tranche bears a zero-percent coupon," the group said in a statement. The Wall Street Journal called the launch of the zero-coupon two-year bond "a true rarity" and said GDF Suez was the first company in over 14 years to issue bonds in euros offering no regular payments to investors. The move comes as bond yields have slipped into negative territory ahead of a massive quantitative easing programme announced by the European Central Bank. The ECB is on Thursday expected to unveil details of the initiative, which will see the central bank buy 60 billion euros of bonds public and private bonds each month for 18 months. The GDF Suez sale offered a 500-million-euro 20-year bond that will pay interest of 1.5 percent and a 750-million-euro bond maturing in March 2026 with a coupon of 1.0 percent. A 750-million-euro bond maturing in March 2022 with a coupon fixed at 0.5 percent and a 500-million-euro two-year bond with a zero-percent coupon were also offered. "The average coupon of the issue is 0.75 percent and the average maturity is 9.8 years," the statement said. "This transaction shows the investors' trust in GDF Suez signature," the group's CEO Gerard Mestrallet added. "It is aligned with the strategy of dynamic management of the GDF Suez balance sheet and allows the group to secure its refinancing needs in exceptionally favourable market conditions currently prevailing in the eurozone." Unlike regular bonds, zero-coupon bonds do not see any interest payments made to the bondholder. Instead, the bondholder receives the face value of the bond at maturity, gaining on the difference between what they originally paid for the bond and the amount received at maturity. sbo/boc/cj/mfp/pdh GDF SUEZ |
Posted at 31/7/2014 22:28 by waldron GDF Suez Warns 2014 Profit to Be in Lower Forecast Range By Tara Patel GDF Suez SA (GSZ), operator of Europe's biggest natural-gas network, said its first-half profit dropped 13 percent and warned the outage of two Belgian nuclear reactors and reduced heating demand may weigh on full-year earnings. While the utility confirmed 2014 financial targets, Courbevoie, France-based GDF Suez said these may be changed in the second half depending on what happens with the Belgium generators. The utility has forecast net recurring income in the range of 3.3 billion to 3.7 billion euros ($4.4 billion to $5 billion) for the year, compared with 3.4 billion euros in 2013. "We expect to be close to the low end" of the range under average weather conditions, even if the Belgian nuclear reactors are restarted in the fourth quarter, Chief Executive Officer Gerard Mestrallet said on a conference call. "Even if we do better on financial charges, 3.3 billion euros is reachable but would be a good result," Chief Financial Officer Isabelle Kocher said on the call. She cited the effects of the relatively warm winter in France, the Belgian reactors and the rising cost of producing electricity in Brazil as reservoirs dry up. GDF Suez, which operates installations from atomic reactors and pipelines to offshore gas platforms, has been hurt by lower demand for gas-fired power during Europe's economic slump, leading it to close or mothball more than 11,000 megawatts of capacity. Mestrallet has sought to expand in Asia, Latin America and the Middle East to counter the slowdown. Earnings Drop The utility reported today net recurring income fell to 2.125 billion euros from 2.425 billion euros a year earlier. Earnings before interest, taxes, depreciation and amortization declined 14 percent to 6.6 billion euros. The utility beat an estimate compiled by Bloomberg of 2.04 billion euros for net recurring income over the period and just missed the 6.66 billion euro average of eight analysts' estimates for Ebitda. Net debt fell to 26 billion euros, 3.2 billion euros less than at the end of December, according to the statement. The company is aiming to cut debt and lower costs. The outage of the Doel-3 and Tihange-2 nuclear reactors in Belgium that are run by GDF's Electrabel unit is costing about 40 million euros a month in net recurring income, according to the utility. Reactor Uncertainty The future of the reactors has been clouded by uncertainty since cracks were found in their cores in 2012, prompting the Belgian authority to order operations halted until their safety could be assured. Further tests are being performed, Vice-Chairman Jean-Francois Cirelli said on the call. In addition to the closures in Belgium, a tax on atomic energy in that country is "confiscatory" and would be fought by "all legal means" including arbitration, the utility said today. The levy will cost GDF Suez 400 million euros a year, Cirelli said. "We will examine all options concerning the future of our nuclear activities in Belgium," he said. The utility wrote down 14.9 billion euros in asset values and goodwill, it said in February, mostly because of the shutdown of European thermal plants. The shutdowns continued in the first half of the year, Cirelli said today on the call. For the 2014 to 2016 period, GDF Suez plans to invest 6 billion to 8 billion euros a year, compared with 3 billion euros last year, and scale back asset sales to 2 billion to 3 billion euros a year. "There will be no transformative acquisitions because our group does not need it," Mestrallet said. Instead, GDF Suez is studying "interesting" possibilities and will spend about 2 billion to 3 billion euros annually buying "small and medium-sized" assets in the next three years. On the possibility of selling European energy infrastructure, he said GDF Suez has "no intention to do that right now." To contact the reporter on this story: Tara Patel in Paris at tpatel2@bloomberg.ne To contact the editors responsible for this story: Will Kennedy at wkennedy3@bloomberg. |
Posted at 17/7/2014 08:53 by waldron GDF Suez faces new Texas market manipulation suit16 Jul 2014, 8.11 pm GMT Washington, 16 July (Argus) - Two trading firms have refiled a suit in federal court that claims GDF Suez has repeatedly withheld its generation capacity in Texas when surplus capacity is limited to drive up power prices and manipulate futures contracts it holds. The refiled complaint provides new specifics about the more than $20mn the two firms, Aspire Commodities and Raiden Commodities, claim to have lost in power trades over the past two years because of the generator's alleged conduct in the Electric Reliability Council of Texas (ERCOT) territory. GDF last month asked the US District Court for the Southern District of Texas to throw out the initial lawsuit, in part because it said Aspire and Raiden had failed to provide details to support their claim for damages. The refiled suit appears to address this by claiming specific damages for each day the alleged conduct occurred, providing examples about why it believes that GDF's alleged re-pricing of its generation as high as $4,999/MWh caused the firms to lose nearly $1mn in futures trading on three days last July. The main claim of the suit is that on days ERCOT had just enough generation to meet demand because of harsh weather or forced outages, GDF would allegedly use its generation to exert market power and cause power prices to spike. This alleged activity caused generation capacity that was otherwise deep "in-the-money" not to run, the suit claims. The suit claims GDF used economic withholding on six days in 2013 when reserve margins were tight and re-priced its generation to as high as $4,999/MWh to take units off the line. It also claims GDF on four days in 2013 and two days this year designated some units not run to create scarcity that could artificially drive up power prices. The firms said the alleged conduct was illegal because GDF would take out futures contracts that offered it profits far in excess of the amount of money it stood to lose by ramping down its otherwise profitable generation capacity. The suit said by allegedly withholding generation, GDF was manipulating the futures markets. GDF declined to comment on the new lawsuit but said it has been "fully transparent and complaint with applicable regulations." The company owns more than 4,000MW of merchant generation at six power plants in the ERCOT territory. Most of the power comes from gas-fired power plants. GDF under the regulations in ERCOT is considered a "small fish" that lacks enough generation capacity to exert market power and thus free to price its power however it likes, a point the company cited in its motion to dismiss the complaint. The grid's threshold for being considered unable to exert market power is 5pc of total generation or lower. The energy trading firms contend that despite its label as a "small fish," GDF has been able to exert market power when there is little surplus capacity. ck/ee Send comments to feedback@argusmedia. |
Posted at 27/2/2014 09:33 by waldron GDF Suez Posts Hefty Annual Loss On Impairments; May Cut Dividend RELATED NEWSGDF Suez 2013 Net Recurring Income Down; But Lifts 2014 Profit View 2/27/2014 3:51 AM ET French utility GDF Suez SA (GDFZY.PK,GDSZF.PK) Thursday reported a net loss for the year, knocked by hefty impairments, amid a tough environment for thermal power production and gas storage. The company also hinted that it may trim dividend. The company reported a net loss group share of 9.737 billion euros ($13.3 billion) compared to a profit of 1.544 billion euros in the prior year. On an IFRS basis, net loss for the year was 9.3 billion euros. GDF recorded assets impairments of 9.1 billion euros and goodwill impairments of 5.8 billion euros in 2013, related to certain European businesses. Net recurring income, group share, fell to 3.4 billion euros from 3.8 billion euros last year. However, it was at the high end of the guidance of 3.1 billion euros to 3.5 billion euros. Revenues slid to 81.278 billion euros from 81.96 billion euros in the prior year. Organic growth was 3 percent. Gérard Mestrallet, CEO, said, ''The Group's operational results in 2013 are strong and confirm our strategy in a very difficult economic environment for thermal power production and gas storage in Europe...'' At the end of December 2013, net debt was reduced by 6.8 billion euros from last year to 29.8 billion euros, one year ahead of the 2014 target. In 2014, net recurring income, Group share is expected between 3.3 billion euros and 3.7 billion euros, assuming average weather conditions and stable regulation. In natural gas, the company targets a production of 59-63 million barrels oil equivalent or mboe by 2016 compared to 52 mboe in 2013. The firm seeks to develop its LNG supply portfolio from 16 million tons per annum or mtpa to 20 mtpa by 2020. In energy services, GDF targets to increase revenues from energy efficiency by 40 percent between 2013 and 2018 and to double sales outside Europe by 2019. Further, GDF has decided to accelerate its Perform 2015 plan's implementation and to add 800 million euros to its gross cumulated objectives for the end of 2015. The 2015 cumulated objective on the net recurring income Group share has been raised to 0.9 billion euros. The Board will propose to shareholders a stable dividend, payable in cash, of 1.5 euros per share for fiscal year 2013. The Board will also propose a 10 percent loyalty dividend for shares in registered form for more than two years. For 2014-2016, the group committed to a dividend policy based on a payout ratio of 65-75 percent with a minimum of 1 euro per share, payable in cash and with an interim payment. The stock is up 3.5 percent in early morning trade at 18.16 euros. To receive FREE breaking news email alerts for GDF Suez SA and others in your portfolio by RTT Staff Writer For comments and feedback: editorial@rttnews.co |
Posted at 20/11/2013 08:51 by waldron By Selina Williams And Géraldine Amiel Nov. 19, 2013 11:19 p.m. ETWestinghouse Electric Co. is expected to seal a deal to take over Iberdrola SA IBE.MC -0.40% Iberdrola S.A. Spain: Madrid 4.68 -0.02 -0.40% Nov. 20, 2013 9:33 am Volume : 514,864 P/E Ratio 10.63 Market Cap 29.63 Billion Dividend Yield 1.28% Rev. per Employee 1,058,850 11/19/13 Westinghouse May Join U.K. Nuc... More quote details and news » IBE.MC in Your Value Your Change Short position 's 50% stake in the U.K. nuclear consortium NuGeneration Ltd. by late January or early February, a person familiar with the situation said. A deal is vital to resurrect a NuGen project to build a large nuclear-power station in Northern England that has recently foundered as Spanish utility Iberdrola is focuses on debt reduction. The company is restructuring its assets at a time the European economic crisis has weakened electricity demand and has made financing big projects more difficult. The survival of the plan to construct a power station with 3.6-gigawatts of capacity in West Cumbria is important for the United Kingdom's government, which has made building new nuclear projects a priority to help meet greenhouse-gas emission-reduction targets and as aging coal plants and old nuclear reactors are set to be decommissioned over the next decade. Enlarge Image A Westinghouse generator, far right, and the main turbine, left center, at the No. 1 unit of Nextera Energy Point Beach Nuclear Plant in Two Rivers, WI. Associated Press Getting a foothold in the U.K. is important to U.S.-based Westinghouse, which sees the country as a steppingstone to growing its reactor business in Europe and elsewhere as the U.S. has turned its back on new nuclear plants following the shale gas boom there. "The full exit of Iberdrola from NuGen is going to happen. They're in talks with Westinghouse and that's the only offer that is on the table," the person said. NuGen is 50%-owned by France's GDF Suez. GSZ.FR +0.14% GDF Suez S.A. France: Paris 17.47 +0.03 +0.14% Nov. 20, 2013 9:33 am Volume : 158,815 P/E Ratio 45.25 Market Cap 42.68 Billion Dividend Yield 9.50% Rev. per Employee 407,553 11/19/13 Westinghouse May Join U.K. Nuc... 10/11/13 Energy Bosses Call for End to ... 09/20/13 Hungary in Talks to Buy Back M... More quote details and news » GSZ.FR in Your Value Your Change Short position Westinghouse, which is controlled by Japan's Toshiba Corp. 6502.TO +0.24% Toshiba Corp. Japan: Tokyo ¥419 +1 +0.24% Nov. 20, 2013 3:00 pm Volume : 25.08M P/E Ratio 24.04 Market Cap ¥1775.56 Billion Dividend Yield 1.91% Rev. per Employee ¥29,859,100 11/19/13 Westinghouse May Join U.K. Nuc... 11/03/13 Fear of 'Showrooming' Fades 09/12/13 Apple Supplier Japan Display P... More quote details and news » 6502.TO in Your Value Your Change Short position , is seeking a majority stake in the project and "has made a solid offer," one of the people said. Iberdrola has also talked with other potential buyers, such as Korea Electric Power Co. 015760.SE +0.31% Korea Electric Power Corp. S. Korea: KRX KRW31950 +100 +0.31% Nov. 20, 2013 3:00 pm Volume : 6.04M P/E Ratio N/A Market Cap KRW19130.53 Billion Dividend Yield N/A Rev. per Employee KRW2,674,770,000 11/19/13 Korea Sells Stakes of Formerly... 11/19/13 Korea Sells Stakes of Formerly... More quote details and news » 015760.SE in Your Value Your Change Short position and Russia's Rosatom, but the discussions didn't go far as the U.K. government had made it clear that it favored "a Western solution," people familiar with the discussions said. In October, the U.K. government struck a deal with Electricité de France, EDF.FR -0.15% Electricite de France S.A. France: Paris 26.62 -0.04 -0.15% Nov. 20, 2013 9:33 am Volume : 50,551 P/E Ratio 14.37 Market Cap 49.60 Billion Dividend Yield 0.75% Rev. per Employee 492,820 11/19/13 Westinghouse May Join U.K. Nuc... 10/21/13 EDF to Build New Nuclear Power... 10/21/13 EDF's Limited Nuclear Fallout More quote details and news » EDF.FR in Your Value Your Change Short position working with French state-controlled nuclear engineering company Areva SA AREVA.FR +0.26% Areva S.A. France: Paris 17.30 +0.04 +0.26% Nov. 20, 2013 9:29 am Volume : 5,721 P/E Ratio N/A Market Cap 6.73 Billion Dividend Yield N/A Rev. per Employee 210,156 11/19/13 Westinghouse May Join U.K. Nuc... 10/29/13 French Men Held in Niger Are F... 09/09/13 Cameco Delays Cigar Lake Urani... More quote details and news » AREVA.FR in Your Value Your Change Short position as well as China General Nuclear Corp. and China National Nuclear Corp. to build and run new nuclear reactors. The terms of that contract, which offers EDF a high guaranteed price for its power, were seen as a litmus test for the viability of new nuclear plants in the U.K. GDF Suez Chairman and Chief Executive Gerard Mestrallet said recently that the survival of NuGen's plans for new nuclear plants would very much depend on the EDF contract. Once the deal has been clinched, the NuGen consortium will still face several hurdles. To start, NuGen will likely need to ask the U.K. government for an extension on its option on the land where it wants to build the new power station as it is unlikely to meet a deadline to submit a planning application for it before the end of 2014, according to people in the industry. Westinghouse also needs to get its AP1000 nuclear reactor licensed for use in the U.K., and that process could take several years. A spokesman for Westinghouse couldn't immediately be reached. No one at Iberdrola was immediately available to comment, while a spokesman for Toshiba said the company doesn't comment on specific projects. -Mari Iwata in Tokyo contributed to this article. Write to Selina Williams at selina.williams@wsj. |
Posted at 08/10/2013 13:52 by waldron Monday, September 16, 2013 at 17:30 .(Tradingsat.com) - Credit Suisse a réitéré lundi sa recommandation "Surperformance" et son objectif de cours de 19,5 euros sur GDF Suez . (Tradingsat.com) - Credit Suisse on Monday reiterated its recommendation to "Outperform" and its price target of 19.5 euros on GDF Suez . Le broker souligne que le groupe électro-gazier offre un taux de croissance du bénéfice par action d'environ 5,5% sur la période 2013-2017 qui est supérieur à celui des entreprises comparables. The broker said that the electro-gas company offers a rate of growth in earnings per share of approximately 5.5% over the period 2013 to 2017 which is higher than that of comparable companies. Si certains groupes de services aux collectivités britanniques affichent des taux de croissance des résultats similaires aux Royaume-Uni, "ils ne proposent que la moitié du rendement du dividende", souligne Credit Suisse, soit 4,5% en moyenne, dont une partie payée en actions, contre plus de 8% offert par GDF Suez . If certain groups of services to British authorities displayed growth rates similar results in the UK, "they offer only half the dividend yield," said Credit Suisse 4.5% on average, with a portion paid shares, against more than 8% offered by GDF Suez . A lire aussi Read also Retrouvez les prochains détachements de dividende Find the next dividend detachments Retrouvez les meilleurs rendements du dividende de la Bourse de Paris Find the best dividend yields of the Paris Bourse Le financement de ce gros dividende ne devrait par ailleurs poser aucun problème. Funding for this big dividend should also be no problem. Selon les calculs de Credit Suisse, en finançant chaque année son dividende avec les flux de trésorerie récurrents de ses actifs existants, le groupe dégagera sur la période 2013-2017 un excédent de cash cumulé de 11,8 milliards d'euros. According to calculations by Credit Suisse, funding its dividend every year with recurring cash flows of existing assets, the group will release the period 2013-2017 a cumulative cash surplus of 11.8 billion. |
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