adminEngie SA (OTCPK:ENGIY) Q1 2025 Results Conference Call May 15, 2025 4:00 AM ET
Company Participants
Delphine Deshayes – Investor Relations
Catherine MacGregor – Chief Executive Officer
Pierre-Francois Riolacci – Executive Vice President, Finance, ESG and Procurement
Jean-Pierre Clamadieu – Chairman
Conference Call Participants
Ajay Patel – Goldman Sachs
Harry Wyburd – Exane
Bartlomiej Kubicki – Bernstein
Arthur Sitbon – Morgan Stanley
Wierzbicka Serwinowska – UBS
Zach Ho – Jefferies
Alex Roncier – Bank of America
Piotr Dzieciolowski – Citi
Delphine Deshayes
Thank you, and good morning, everyone. It’s my pleasure to welcome you to Engie’s Q1 conference call. Shortly, Catherine and Pierre-Francois will present our first quarter performance, following which we will open the lines to Q&A. And with my polite request of limiting your questions to one or two only, please.
And with that, over to Catherine.
Catherine MacGregor
All right. Thank you, Delphine, and good morning, everyone. I am pleased to report an excellent first quarter of 2025 with EBIT up versus last year despite normalization of energy markets over the last quarters and despite the uncertain geopolitical and economic environment. There’s been no letup in renewables expansion both organically and via acquisition, and we’ve had a landmark moment of the closing of the nuclear deal in Belgium enabling the transfer of our balance sheet of EUR 12 billion of nuclear waste storage provisions. It’s been really great.
It’s been great to see how resilient and solid Engie has become. Our integrated balanced model and geographical spread, enabling us to maintain earnings by offsetting headwinds and declines in some areas with progress elsewhere.
Now before detailing our Q1 business performance, let’s talk a little bit about how we are dealing with the situation in the U.S., which I would summarize as follows: things are dynamic. But in the case of tariffs, we
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