Guangdong Development Fund Share Discussion Threads

[waldron] 27/2/2014 13:14

At the Shareholders' General Meeting on April 28, 2014, the Board will propose to shareholders a stable dividend, payable in cash, of EUR 1.5 per share for the fiscal year 2013.

For the period 2014-2016, the Group commits to a dividend policy based on a payout ratio of 65-75%14 with a minimum of EUR 1 per share, payable in cash and with an interim payment.

At the occasion of the Shareholders' General Meeting on April 28, 2014, the Board will also propose to shareholders a 10% loyalty dividend for shares in registered form for more than two years. This measure will be applicable for the first time to the dividend payment related to fiscal year 2016 and will be capped to 0.5% of social capital for a single shareholder.

[waldron] 27/2/2014 11:35

GDF rose as much as 4.1 to 18.27 euros in Paris today and traded at 18.14 euros at 9:57 a.m. local time.

The writedowns led to a net loss of 9.3 billion euros compared with a restated profit of 1.54 billion euros a year earlier, the Courbevoie, France-based company said in a statement. Earnings before interest, taxes, depreciation and amortization fell to 14.8 billion euros compared with 17 billion euros under new accounting rules.

"The depreciations will give us more flexibility in the management of our assets," Mestrallet said.

For the 2014 to 2016 period, the utility plans to invest 6 billion to 8 billion euros annually and scale back asset sales to between 2 billion and 3 billion euros each year, GDF said.

Net debt was 29.8 billion euros at the end of December.

GDF Suez had already reduced earnings targets at the end of 2012, citing a "demand crisis" in Europe's energy markets. It forecast net recurring profit would fall to 3.1 billion euros to 3.5 billion euros in 2013 from 3.8 billion euros in 2012, and be in the same range this year.

The 2013 net recurring income was 3.4 billion euros, it said today. It is aiming for net recurring income of 3.3 billion euros to 3.7 billion euros for this year.

To contact the reporter on this story: Tara Patel in Paris at [e-mail]

To contact the editor responsible for this story: Will Kennedy at [e-mail]

[waldron] 27/2/2014 09:33

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.


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[waldron] 24/2/2014 09:16

Dernier cours : 18
Support : 16.95 / 16.4
Resistance : 18.58 / 19.12
Opinion court terme : neutre
Opinion moyen terme : positive

[waldron] 17/2/2014 21:44

By Vanessa Mock
Feb. 17, 2014 11:38 a.m. ETBRUSSELS-French utility GDF Suez SA GSZ.FR -0.03% GDF Suez S.A. France: Paris 02/17/14 GDF Suez has rejected accusations that it overcharged its Belgian subsidiary Electrabel SA by over half a billion euros for its gas supplies in 2012.

Tax authorities in Belgium are investigating claims by the country's gas and electricity regulator, CREG, which said it had proof that Electrabel had paid €500 million too much for the gas, a spokesman for CREG said, confirming media reports.

GDF Suez denied the allegation, saying it had "no knowledge of any ongoing tax investigation", but said it would cooperate with authorities "if such an investigation were initiated." A spokeswoman for Electrabel said she had no knowledge of the probe.

CREG said it submitted a confidential report on the matter to ISI, the government's fiscal fraud unit last June.

CREG said it expected to meet the tax fraud unit to discuss the issue "in coming days," according to a spokesman for the regulator.

"Our report shows that there was a fairly significant gap between what the gas should have cost and what was charged," said Laurent Jacquet of CREG.

A spokesman for the Belgian Ministry of Finance declined to comment.

Belgian business daily, L'Echo, said it obtained a copy of the CREG report and reported that Electrabel's customers may each have been overcharged by €255 as a result, with lost tax revenues of around €170 million for Belgium.

Electrabel, which is Belgium's main energy supplier, is 100% owned by GDF Suez.

-Inti Landauro in Paris contributed to this article.

Write to Vanessa Mock at [e-mail]

[waldron] 17/2/2014 13:52

By Inti Landauro

PARIS--Gaz Transport & Technigaz, or GTT, the maker of crucial devices for the shipping of liquefied natural gas, will raise about 614 million euros ($841 million) in an initial public offering carried out between Feb. 25 and 27.

The French company that manufactures cryogenic membranes for tanker ships transporting liquefied natural gas will float as much as 41.84% of its capital in the operation. French oil major Total SA (TOT) and equity fund Hellman & Friedman, which currently own about 30% of GTT each, will reduce their respective stakes in the company to as low as 8.76%.

French power utility GDF Suez (GSZ.FR) will keep its 40.38% stake in GTT.

Indicative price for the shares was set at between EUR41 and EUR50, GTT said. The final pricing will be set on Feb. 26 and shares will start trading on Feb. 27.

Based in a Paris suburb, GTT employs 344 workers.

Write to Inti Landauro at [e-mail]

[waldron] 17/2/2014 09:20

Dernier cours : 17.43
Support : 16.41 / 16.04
Resistance : 17.87 / 18.24
Opinion court terme : positive
Opinion moyen terme : positive

[waldron] 17/2/2014 09:04

PARIS--Gaz Transport & Technigaz, or GTT, the maker of crucial devices for the shipping of liquefied natural gas, will raise about 614 million euros ($841 million) in an initial public offering carried out between Feb. 25 and 27.
The French company that manufactures cryogenic membranes for tanker ships transporting liquefied natural gas will float as much as 41.84% of its capital in the operation. French oil major Total SA (TOT) and equity fund Hellman & Friedman, which currently own about 30% of GTT each, will reduce their respective stakes in the company to as low as 8.76%.
French power utility GDF Suez (GSZ.FR) will keep its 40.38% stake in GTT.
Indicative price for the shares was set at between EUR41 and EUR50, GTT said. The final pricing will be set on Feb. 26 and shares will start trading on Feb. 27.
Based in a Paris suburb, GTT employs 344 workers.
Write to Inti Landauro at [e-mail]
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[waldron] 12/2/2014 21:34

PARIS, Feb. 12 (UPI) -- A U.S. decision on gas exports opened the door for French company GDF Suez to enhance its position in the growing U.S. natural gas market, the company said.
Gerard Mestrallat, chairman for GDF Suez, said he welcomed Tuesday's decision by the federal government to allow consortium Cameron LNG, LLC to export liquefied natural gas produced in the United States from a Cameron Parish, La., terminal to countries that don't have a U.S. free-trade agreement.

"The decision of the Department of Energy to grant non-FTA approval opens a major opportunity for GDF Suez to further develop long-term LNG sales in a fast-growing global market," he said in a statement Wednesday.

GDF Suez in May signed a joint venture agreement with U.S. natural gas company Sempra and Japan's Mitsubishi and Mitsui to develop the Cameron LNG project.

The U.S. Energy Department said Tuesday the decision, which is still subject to environmental review and regulatory approval, authorizes the export of as much as 1.7 billion cubic feet, or about 12 million tons of LNG, per year for a period of 20 years.

Debra Reed, chief executive officer at Sempra, which has headquarters in California, said in a statement the department's decision was a "critical milestone" for the Cameron export facility.

It's slated to go into service in 2018.



Read more:

[waldron] 10/2/2014 09:06

By William Horobin
PARIS--French utility GDF Suez (GSZ.FR) said Monday it has started oil production at the Amstel oil field off the coast of the Netherlands.
The French company first proved the existence of a viable amount of oil at the Amstel field early in 2011 and expects to produce up to 15,000 barrels of oil a day over ten years.
Write to William Horobin at [e-mail]
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[waldron] 10/2/2014 07:49

Dernier cours : 16.99
Support : 15.7 / 15.35
Resistance : 17.45 / 18.15
Opinion court terme : neutre
Opinion moyen terme : neutre

[waldron] 03/2/2014 09:01

Dernier cours : 16.39
Support : 15.51 / 15.19
Resistance : 17.42 / 17.74
Opinion court terme : negative
Opinion moyen terme : negative

[waldron] 20/1/2014 09:34

Dernier cours : 17.34
Support : 16.34 / 16.15
Resistance : 17.84 / 18.03
Opinion court terme : positive
Opinion moyen terme : neutre

[waldron] 14/1/2014 21:28

French power utilities Electricite de France SA (EDF.FR) and GDF Suez SA (GSZ.FR) will invest 600 million euros ($822 million) to extend the life of a nuclear reactor they jointly own in Belgium to 2025, Les Echos newspaper reports, citing unidentified sources.
The two companies and the Belgian government are due to sign an agreement for the ten-year extension of the life of the nuclear reactor located in the town of Tihange in eastern Belgium, the newspaper said.
The Belgian government and the two utilities have agreed on sharing the profits made on the reactor. Above a certain amount, the Belgian government will take 70% of the profits, while the utilities will take 30%, the newspaper said. The government expects to pocket EUR1.25 billion over the ten years.
Spokespeople at EDF and GDF Suez weren't immediately available for comment.
Newspaper website: hxxp://www.lesechos.fr
Write to Inti Landauro at [e-mail]
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[waldron] 14/1/2014 09:10

French power utilities Electricite de France SA (EDF.FR) and GDF Suez SA (GSZ.FR) will invest 600 million euros ($822 million) to extend the life of a nuclear reactor they jointly own in Belgium to 2025, Les Echos newspaper reports, citing unidentified sources.
The two companies and the Belgian government are due to sign an agreement for the ten-year extension of the life of the nuclear reactor located in the town of Tihange in eastern Belgium, the newspaper said.
The Belgian government and the two utilities have agreed on sharing the profits made on the reactor. Above a certain amount, the Belgian government will take 70% of the profits, while the utilities will take 30%, the newspaper said. The government expects to pocket EUR1.25 billion over the ten years.
Spokespeople at EDF and GDF Suez weren't immediately available for comment.
Newspaper website: hxxp://www.lesechos.fr
Write to Inti Landauro at [e-mail]
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[waldron] 13/1/2014 07:41

Dernier cours : 16.77
Support : 15.99 / 15.49
Resistance : 17.75 / 18
Opinion court terme : positive
Opinion moyen terme : negative

[waldron] 08/1/2014 10:00

(Boursier.com) -- GDF SUEZ et RWE sont les deux valeurs préférées de Bryan Garnier dans les services collectifs en 2014. Le groupe français a les faveurs du bureau d'études car il apprécie ses capacités de diversification hors du difficile marché européen et qu'il ne doute pas de sa capacité à maintenir un dividende élevé. Plus précisément, le courtier comprend les hésitations des investisseurs sur la pérennité d'un rendement du dividende de 9%, mais note aussi qu'une réduction de ce rendement réduirait les incertitudes qui pèsent sur le cours... En d'autres termes, Bryan Garnier voit une paire "gagnant-gagnant" quelle que soit l'issue. L'objectif de cours est relevé de 19 à 20 euros et la recommandation est logiquement à l'achat.