French energy group Engie's revenues amounted to €30.2 billion in the first half of 2018, up 0.1 percent compared to the same period of 2017, the company announced on Friday.
The company's revenues remained largely flat in the first half of the year while the core earnings before interest, tax, depreciation and amortization (EBITDA) amounted to €5.1 billion, up 1.3 percent in the first half of 2018 compared to 2017's first half.
The growth was mainly driven by a sharp increase in renewable power generation, mainly hydropower in France and Brazil, Engie explained.
Engie is the market leader in wind and solar power and the number two provider of hydropower in France. The company has an installed power generating capacity of approximately 10,000 megawatts, with a 60 percent contribution from renewables.
In Brazil, Engie contributes 6 percent to national generating capacity. Ninety percent of the group's total energy production capacity in Brazil is generated from renewable sources.
The company added that the exchange rate, primarily the depreciation of the U.S. dollar and the Brazilian real against the euro, negatively affected revenue growth.
By Ebru Sengul
Anadolu Agency
energy@aa.com.tr