Engie Q1 FY26 EBIT excluding nuclear falls 6.6% to €3.4 billion

  • Engie posted Q1 2026 EBIT excluding nuclear of EUR 3.4 billion, down 6.6% organically on a high base in Q1 2025.
  • Cash flow from operations totaled EUR 3 billion, while economic net debt fell EUR 4 billion including a EUR 3 billion impact from a capital increase.
  • Leverage eased, with economic net debt/EBITDA down to 2.9x.
  • Completion of UK Power Networks acquisition expected today, while talks began with Belgian government on transferring all nuclear activities.
  • 2026 guidance confirmed, with net recurring income group share seen at EUR 4.6-5.2 billion; CEO Catherine MacGregor cited solid start to year and limited impact so far from Middle-East crisis.


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