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GdF Suez took a 15 billion euro write-down last year

28 February 2014

GdF Suez recorded write-downs worth 14.9 billion euros (20.4 billion dollars) last year,writes the Wall Street Journal. The publication notes that depreciation represents the loss of 12% of the total assets value of the utility.

The annual financial report notes that net losses in 2013 amounted to 9.3 billion euros, compared with a profit of 1.54 billion euros in 2012. Operating profit fell to 14.8 billion euros in 2013 from 17 billion in 2012.

GdF Suez announced that it will pay dividends of 1.50 euros per share for 2013 and for 2014-2016 will provide a minimum of one euro / share, says Bursa newspaper. GdF Suez recorded impairments last year of 9.1 billion euros on the segment of power generation assets and a reduction 5.8 million euros reduction of comercial fund.

The company says that between 2014 and 2016 plans to invest 6-8 billion euros annually and to dispose of assets worth 2-3 billion each year. GdF Suez net debt was 29.8 billion euros at the end of December.


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