Engie raises 2023 earnings guidance on strong GEMS performance

French energy company Engie on Friday raised its full year guidance for recurring net income and operating profit, pointing to a strong performance in its GEMS unit in April and May.

For 2023, the energy group now projects a net recurring income group share (NRIgs) in the range of 4.7-5.3 billion euros, against a previous outlook for it to be in the upper range of 3.4-4.0 billion.

Engie also said it now expects an operating profit (EBIT) excluding its nuclear activities in the range of 8.5 to 9.5 billion euros, up from the top end of 6.6-7.6 billion.

Its other activities are evolving according to expectations, Engie added.