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GDF Suez


GDF Suez posts 10% drop in profits

French gas and power group GDF Suez has posted a 10% drop in profits. The company, which posted its first-quarter results, said the fall had been in relation to lower gas prices and the outage of two Belgian nuclear plants. Quarterly earnings before interest, tax, depreciation and amortisation (EBITDA) stood at $3.9billion - down from $4billion a year previously.

Oil & Gas

GDF Suez to lower costs on oil drop as 2014 profit falls

GDF Suez SA, France’s former gas monopoly, will cut costs and delay some spending this year as lower oil prices erode earnings this year. Profit in 2014 dropped 9% on nuclear outages in Belgium. Net recurring income was 3.1 billion euros ($3.52 billion) in 2014 from 3.4 billion euros the previous year, the Courbevoie, France-based utility said Thursday. GDF said it would pay a dividend of 1 euro a share for 2014 and at least the same this year. It plans to lower costs and “shift” some spending in reaction to the crash in crude prices, expected to shave 350 euros million this year from net recurring income, according to the statement.


GDF Suez appoints new finance officer

GDF Suez has revealed it has appointed a new finance chief as it plans asset sales of up to $3.6billion within the next few years. Judith Hartmann, the former chief financial officer at publishing firm Bertelsmann, will take up the role.


Video: GDF Suez opens new Aberdeen headquarters

GDF Suez has opened its new flagship Aberdeen office with the announcement of a £20,000 investment in art projects within the North-east. The company’s new offices have opened less than a week after it made a joint announcement with BP regarding the latest discovery in the North Sea.