Finance
Engie raises 2026-2028 targets, announces 10.5 billion pound UK Power Networks deal
Published by Global Banking & Finance Review®
Posted on February 25, 2026
1 min readLast updated: February 25, 2026
Quick Summary
Engie raised its medium-term targets, lifting 2026 net recurring income to €4.6–€5.2bn and EBIT ex-nuclear to €8.7–€9.7bn. The upgrade exceeds its 2025 strategic guidance and frames the 2026–2028 plan.
Feb 25 (Reuters) - French utility Engie on Wednesday set out its medium-term targets and said it would buy electricity distributor UK Power Networks for 10.5 billion pounds ($14.23 billion), a move aimed at boosting its power network and renewables footprint.
The company, which produces, trades and sells electricity and gas, expects to achieve a net recurring income group share of between 4.6 billion and 5.2 billion euros in 2026.
In its 2025 strategic update, Engie had issued mid-term guidance for recurring net income of between 4.2 billion and 4.8 billion euros.
Engie also said it expects its earnings before interest and tax (EBIT), excluding nuclear, to be in an indicative range of 8.7 billion euros to 9.7 billion euros for 2026.
By 2028, Engie expects recurring net income group share of 5.2 billion–5.8 billion euros and EBIT, excluding nuclear, of 10.3 billion–11.3 billion euros.
($1 = 0.7380 pounds)
(Reporting by Anna Peverieri in Barcelona; Editing by Chris Reese and Maju Samuel)
Key Takeaways
- •Engie increased 2026 net recurring income (Group share) guidance to €4.6–€5.2bn, up from €4.2–€4.8bn.
- •The company now targets 2026 EBIT excluding nuclear of €8.7–€9.7bn.
- •The upgrade follows prior mid-term guidance from its 2025 strategic update.
- •Targets support Engie’s medium-term plan covering 2026–2028.
- •Engie is a French utility active in power and gas production, trading and sales.
Frequently Asked Questions about Engie raises 2026-2028 targets, announces 10.5 billion pound UK Power Networks deal
1What is the main topic?
Engie raised its medium-term guidance, including higher 2026 targets for net recurring income and EBIT excluding nuclear as part of a 2026–2028 plan.
2How do the new targets compare to prior guidance?
2026 net recurring income rises to €4.6–€5.2bn from €4.2–€4.8bn, and EBIT excluding nuclear is set at €8.7–€9.7bn, above the earlier indicated range.
3When was the update announced?
The targets were outlined on February 25, 2026, as reported by Reuters in a market update.
