Guangdong Development Fund Share Discussion Threads

[waldron] 04/8/2014 06:42

Source; businessspectatot.com/au

GDF-Suez suffers operating setback
AFP | 4 hours ago |
Climate | Energy markets |
Shares in the GDF-Suez energy conglomerate, a major player in international gas markets, fell after it reported a jump in six-month net profit but a fall in operating income.

Net profit leapt by 51.2 per cent to 2.6 billion euros ($A3.9 billion), but last year's results were hit by asset writedowns.

Group sales fell by 6.3 per cent to 39.4 billion euros, while recurrent net profit fell by 12.6 per cent to 2.1 billion euros, hit by the depressed market in Europe for the production of electricity, against a background of sluggish economic recovery.

The group said in a statement issued last week that the operating setback reflected a mild winter in the northern hemisphere and the suspension of activity at two nuclear reactors in Belgium.

And although GDF-Suez stood by its outlook for profitability this year, it warned that this would have to reviewed.


Shares fell 1.95 per cent to 18.875 euros in European trading on Thursday, when the French CAC 40 index was down 1.30 per cent.

In common with many energy groups is Europe, GDF Suez has had to make huge asset writedowns in view of turbulence in the market for electricity generation.

This in turn reflects the impact of cheap shale energy in North America which has also pushed down the price of coal, being used increasingly in generate power and making gas-powered facilities less profitable.

The group said it still expected to achieve a net current profit excluding exceptional items of 3.3 billion-3.7 billion euros this year.

But it warned that this outlook would be adjusted to take account of the suspension of activity for security reasons of two nuclear reactors by its subsidiary Electrabel which is the biggest electricity generator in Belgium where it operates seven reactors.

The group said it still intended to invest 6.0 billion-8.0 billion euros this year.

To compensate for a slowing of activity in its traditional and mature markets in western Europe, it intended to become a leader in the transition towards new and renewable energies in Europe, and to become a leading energy provider in countries experiencing robust economic growth and strong demand for energy.

[grupo guitarlumber] 02/8/2014 13:05

13
oct
2014


Détachement de l'acompte sur dividende 2014

[la forge] 02/8/2014 07:38

01.08.2014 19:09:46Morgan Stanley belässt GDF Suez auf 'Overweight' - Ziel 22 EuroNEW YORK (dpa-AFX Analyser) - Die US-Investmentbank Morgan Stanley hat die Einstufung für GDF Suez nach Zahlen auf "Overweight" mit einem Kursziel von 22 Euro belassen

[waldron] 31/7/2014 21:28

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 [e-mail]

To contact the editors responsible for this story: Will Kennedy at [e-mail] Steven Frank, Carlos Caminada

[waldron] 31/7/2014 14:24

Achat Put GDF Suez T343B

Date : 31/07/2014
Sous-jacent : GDF Suez (ISIN : FR0010208488).
Warrant : Put T343B (ISIN : NL0010778452).
Échéance : 19/12/2014
Prix d'exercice : 19,0000
Stratégie : Achat à 0.69 euro.

le RSI plaide pour une poursuite de la correction.

Objectifs et niveau d'invalidation sur le warrant :
1er objectif : 1.04 (50%).
2nd objectif : 1.17 (70%).
Invalidation sous : 0.29 (-58%).
TRADING CENTRAL

[waldron] 18/7/2014 09:16

Next -m event
Thursday 31 July 2014
Conference call 2014 Half year results 31
Jul
2014Conference call 2014 Half year results
Conference call : 6 :30 pm Paris time
08
Sep
2014Convergences World Forum, Paris 8-10 September 2014
23
Sep
2014Climate Summit 2014 Climate Summit 2014, New York, United States
15
Oct
2014Interim dividend payment of EUR 0.50 per share

[waldron] 17/7/2014 07:53

GDF Suez faces new Texas market manipulation suit
16 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

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[waldron] 13/6/2014 09:10

By Geraldine Amiel
PARIS--GDF Suez SA (GSZ.FR) said Thursday two of its Belgian unit Electrabel's nuclear reactors would be halted longer than initially expected, due to additional tests, denting the group's recurring net profit by 40 million euros ($54.26 million) a month.
GDF Suez nevertheless reiterated its full-year financial target of a net recurring profit between EUR3.3 billion and EUR3.7 billion, though this could be adjusted to take into account the months of effective outage of the two reactors.
The additional delay is another blow to GDF Suez's European thermal power production business. The company faces stiff competition from substantially subsidized renewable sources, while the lasting economic crisis has dented energy consumption in Europe.
Yet, this validates the French utility's decision to reduce its traditional power production exposure to Europe and seek additional growth elsewhere.
Doel 3 and Tihange 2 nuclear reactors were shut down in late March by the Belgian authorities following tests on the reactors' pressure vessels that showed then "unexpected results" regarding the resistance of the material. Both reactors had already been shut in 2012 after micro-cracks were found on their pressure vessels, which enclose the reactors' cores.
GDF Suez also confirmed its other financial targets for the year such as a net capital expenditure between EUR6 billion and EUR8 billion as well as a dividend pay-out ratio of 65% to 75%, with a minimum of EUR1 per share, in cash.
-Write to Geraldine Amiel at [e-mail]
Subscribe to WSJ:

[waldron] 08/6/2014 08:35

Vente Warrant Call GDF Suez X420B

Date : 06/06/2014
Sous-jacent : GDF Suez (TLO: GAZ-U.TI - actualité) (ISIN : FR0010208488)
Warrant : Warrant Call X420B (ISIN : NL0010632972).
Echéance : 18/12/2015
Prix d'exercice : 20,0000
Stratégie : Vente à 1.09 euro.

il convient de rester prudent car ces niveaux pourraient être l'occasion de prises de bénéfice.

TRADING CENTRAL

[waldron] 06/6/2014 06:26

SYDNEY--GDF Suez SA is looking to sell a major stake in its Australian electricity generation and retail business, as the French power group intensifies moves to cut debt and boost profit hurt by Europe's slow recovery from the global financial crisis, people familiar with the matter said.
GDF Suez has hired Deutsche Bank to find a buyer for around 30% of its International Power (Australia) Holdings Pty Ltd unit, which runs a coal-fired power plant in Victoria state along with two gas-fired power plants and a wind farm in South Australia state, the people said. The IPAH business also sells power and gas to more than 350,000 customers in Victoria.
Any deal would likely see GDF Suez retain a stake of around 40% in IPAH, the people said.
It comes more than six months after GDF Suez sold 28% of IPAH to Japan's Mitsui & Co., while the French power group has also been reducing its stakes in other assets globally that it considers to be noncore.
In August, the group sold 50% of its Portuguese power assets to Japanese trading house Marubeni. That deal came three months after it also sold a 20% stake in a giant dam in Brazil to Mitsui. Late 2012, GDF Suez also sold a 60% stake in a wind and solar power project Canada, to Mitsui and a consortium led by Fiera Axium Infrastructure.
GDF Suez outlined a strategy of selling assets in late 2012 to help it cut debt and protect profits at a time when European power demand was in the doldrums. The company has also suffered from a surge in supply of heavily subsidized renewable energy, ripples from the U.S. shale revolution and inconsistent government policy.
These challenges led the company to write down its assets by nearly 14.9 billion euros (US$20.2 billion) last year, mostly to reflect the drop in value of its power-generation assets in Europe.
Write to David Winning at [e-mail] and Geraldine Amiel at [e-mail]
Subscribe to WSJ:

[waldron] 26/5/2014 11:39

GDF Suez Upgraded to "Overweight" at Morgan Stanley (GDFZY)

Posted by Joseph Griffin on May 26th, 2014

GDF Suez (NASDAQ:GDFZY) was upgraded by research analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a report released on Thursday.

A number of other analysts have also recently weighed in on GDFZY. Analysts at Credit Suisse downgraded shares of GDF Suez from an "outperform" rating to a "neutral" rating in a research note on Friday, April 11th. Analysts at Berenberg Bank upgraded shares of GDF Suez from a "sell" rating to a "buy" rating in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of "Hold".

Shares of GDF Suez (NASDAQ:GDFZY) opened at 27.77 on Thursday. GDF Suez has a 52 week low of $18.92 and a 52 week high of $27.86. The stock has a 50-day moving average of $26.93 and a 200-day moving average of $24.89. The company's market cap is $65.545 billion.

[la forge] 12/5/2014 08:04

GDF SUEZ : Le mouvement reste haussier
TEC le 12/05/2014 à 08:550Sauvegarder l'article Envoyer à un ami Imprimer l'article Sauvegarder l'article Envoyer à un ami Imprimer l'article Share on linkedinShare on viadeo
GDF SUEZ : Le mouvement reste haussierSYNTHESE


Le MACD est positif et supérieur à sa ligne de signal. Cette configuration confirme la bonne orientation du titre. On constate que le potentiel de hausse du RSI n'est pas épuisé. Les stochastiques ne sont pas surachetés, ce qui laisse intact le potentiel de hausse à moyen terme. Les volumes échangés sont inférieurs à la moyenne des volumes sur les 10 derniers jours.

MOUVEMENTS ET NIVEAUX


Le titre est orienté à la hausse. Il est au-dessus de sa moyenne mobile 50 jours. La moyenne mobile à 20 jours est supérieure à la moyenne mobile à 50 jours. Le support est à 18.13 EUR, puis à 17.78 EUR et la résistance est à 19.92 EUR, puis à 20.28 EUR.

Dernier cours : 19.31
Support : 18.13 / 17.78
Resistance : 19.92 / 20.28
Opinion court terme : positive
Opinion moyen terme : positive

[waldron] 04/4/2014 20:23

1st April 2014

[waldron] 31/3/2014 07:11

Dernier cours : 19.96
Support : 18.37 / 17.93
Resistance : 20.58 / 21.02
Opinion court terme : negative
Opinion moyen terme : positive

[waldron] 27/3/2014 09:17

GDF Suez SA (GSZ), owner of Europe's biggest natural-gas network, has acquired U.K. wind energy developer West Coast Energy for an undisclosed price.

The purchase "strengthens GDF Suez's commitment to expand its wind portfolio in the U.K.," the Courbevoie, France-based company said in a statement. West Coast has 650 megawatts representing 9 percent of the U.K.'s onshore wind capacity as well as 200 megawatts in the pipeline.

GDF Suez, which also runs atomic plants in Belgium and offshore gas platforms, has been hurt by lower demand for gas-fired power during Europe's economic decline. It has closed or mothballed more than 11,000 megawatts of capacity in the region.

Before the wind-energy deal, GDF Suez was operating 70 megawatts of wind farms across the U.K., according to today's statement. It has almost 7,000 megawatts of power capacity overall in the country.

GDF Suez became France's biggest wind-energy company after taking control of Cie du Vent in 2007.

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

To contact the editors responsible for this story: Will Kennedy at [e-mail] Alex Devine, Amanda Jordan

[la forge] 26/3/2014 08:13

GDF Suez SA (GSZ), France's largest natural-gas supplier, cut its first-half dividend following a writedown of 14.9 billion euros ($20.6 billion) on last year's earnings.

The payout of 0.5 euros a share will be given to shareholders in October, the company said today in a statement. The utility paid a total of 1.50 euros a share last year.

Chief Executive Officer Gerard Mestrallet has called the slump in European demand for power and natural gas "serious and long-lasting." GDF Suez took impairments of 9.1 billion euros, mostly on European power assets, and goodwill of 5.8 billion euros for 2013.

The Courbevoie-based company, which operates installations from atomic reactors in Belgium to offshore gas platforms, has been hurt by lower demand for gas-fired power during Europe's economic decline, 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.

The utility confirmed today it would pay a minimum of 1 euro a share in cash for the years 2014 to 2016. It also is putting in place a "shareholder loyalty" plan for holders of shares for more than two years.

Mestrallet will waive half of the variable portion of his annual compensation for 2013 due to the "difficult situation" confronting the energy industry, according to the company's latest annual report released earlier this week.

When so-called performance units, or deferred variable compensation, is included, Mestrallet's compensation for 2013 will drop to 2.85 million euros from 3 million euros the previous year.

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

To contact the editors responsible for this story: Will Kennedy at [e-mail] Stephen Cunningham, Jasmina Kelemen

[waldron] 25/3/2014 19:09

GDF SUEZ announces the principle of an interim dividend payment of €0.5/share for financial year 2014, to be paid October 15, 2014 1, with an October 13, 2014 ex-dividend date.

This announcement is in line with the Group's new dividend policy announced on February 27, 2014, during the 2013 annual results presentation.

For the period 2014-2016, GDF SUEZ has committed to a dividend policy based on a payout ratio of 65-75% of net recurring income, Group share, with a minimum of €1/share payable in cash.

To reward shareholder loyalty, the Board of Directors will also recommend to shareholders establishment of a dividend increased by 10%, for shares in registered form for more than two years2. This loyalty dividend will be applied for the first time in 2017 to the dividend to be paid for fiscal year 2016 and will be capped to 0.5% of social capital for a single shareholder.

For fiscal year 2013, the Board of Directors will propose to shareholders a stable dividend, payable in cash, of €1.50/share 2, whose balance (€0.67/share euro) will be paid May 6, 2014, with an April 30, 2014 ex-dividend date. The new dividend policy, combined with the accelerated investment program, aims to strengthen the Group's growth potential and create greater long-term value for shareholders.
1 Subject to implementation of the new settlement/delivery rule in France anticipated for October 6, 2014. Postponement of this reform would delay the payment date to October 16, 2014, instead of October 15, 2014 in compliance with current rules.

2 To be submitted for shareholder approval at the Shareholders' General Meeting on April 28, 2014.

[waldron] 24/3/2014 08:21

MOUVEMENTS ET NIVEAUX


Le titre est orienté à la hausse. Il est au-dessus de sa moyenne mobile 50 jours. La moyenne mobile à 20 jours est supérieure à la moyenne mobile à 50 jours. Le support est à 18.26 EUR, puis à 17.07 EUR et la résistance est à 21.24 EUR, puis à 21.83 EUR.

Dernier cours : 19.51
Support : 18.26 / 17.07
Resistance : 21.24 / 21.83
Opinion court terme : positive
Opinion moyen terme : positive

[waldron] 17/3/2014 08:41

MOUVEMENTS ET NIVEAUX


Le titre est orienté à la hausse. Il est au-dessus de sa moyenne mobile 50 jours. La moyenne mobile à 20 jours est supérieure à la moyenne mobile à 50 jours. Le support est à 17.79 EUR, puis à 17.18 EUR et la résistance est à 20.82 EUR, puis à 21.42 EUR.

Dernier cours : 18.87
Support : 17.79 / 17.18
Resistance : 20.82 / 21.42
Opinion court terme : positive
Opinion moyen terme : positive