|May 25, 2020

Trading Update

Paris – Milan, 25 May 2020 – Carlalberto Guglielminotti, Chief Executive Officer, Giuseppe Artizzu, Executive Director Global Strategy, and Andrea Rossi, Chief Financial Officer, will participate and present at the Société Générale’s Virtual Nice Conference, to be held on 27 and 28 May 2020.

Prior to the conference and the Investor Live Webcast that will follow the annual general meeting of ENGIE EPS scheduled on 1st July 2020, ENGIE EPS publishes the following information.

First, while acknowledging the improving COVID-19 outbreak situation and the gradual easing of social distancing measures, Carlalberto Guglielminotti, Chief Executive Officer, emphasizes that the primary concern of ENGIE EPS remains the health of its employees and their families. For this reason, ENGIE EPS launched on 30 April the FamilyWorking Manifesto: a new way of remote working that puts family at its centre, by balancing family life and professional life. In parallel, in collaboration with IRCCS Ospedale San Raffaele, part of the San Donato Group, and to ensure the highest level of security to ENGIE EPS’ employees and their families, ENGIE EPS has concluded the reconfiguration of all of its offices and industrial premises and will provide to all employees the opportunity to perform COVID-19 antibody testing and advanced screenings with dedicated support.

Notwithstanding the COVID-19 outbreak and the resulting volatile market environment that contributed to the withdrawal of the 2020 guidance, ENGIE EPS is progressing in the execution of the new Long Term Strategic Plan with the strong support of ENGIE.

As a result of recent developments, including the selection of ENGIE to develop, fully own and operate a 60 MWAC solar plus 240 MWh battery storage facility located on Hawaii Island, ENGIE EPS’ Pipeline increased to €766 million, up 12% compared to the one communicated in March 2020 with the 2019 Annual Results, and includes:

  • over 500 MWh, worth more than €100 million, of competitive tenders in the USA won with ENGIE and where ENGIE EPS is exclusive storage system supplier;
  • over 1,000 MWh, worth more than €200 million, of competitive tenders for which ENGIE EPS is shortlisted in the Middle East, Asia Pacific and Europe; and
  • up to 25 MW Vehicle-to-the-Grid (V2G) project, aggregating up to 700 electric vehicles, whose pilot-phase construction started last week with Fiat Chrysler Automobiles (FCA), and which will be the largest V2G facility in the world.

Depending on the extent of the economic disruption caused by the COVID-19 outbreak, delays in bringing the projects online are possible, and in line with the information published on 19 March 2020, ENGIE EPS will update – if necessary – the 2022 guidance once the COVID-19 situation has been overcome.

The presentation for the Société Générale’s Virtual Nice Conference, as well as the dial-in and webcast link for the Investor Live Webcast with interactive Q&A session, will be available on the corporate website under “Investors / Annual General Meeting 2020”.


Trading Update

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