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French energy company GDF Suez said on Thursday it was confident for 2012 after posting what it called solid results last year despite warm weather and a tariff freeze at home.
Net profit fell 13 percent to 4.0 billion euros ($5.3 billion) but 2010 figures had been boosted by exceptional items
However EBITDA operating profits rose 9.5 percent to 16.5 billion euros and sales 7.3 percent to 90.7 billion euros.
The price of shares in the group fell by 4.37 percent to 20.38 euros. The overall CAC 40 index was showing a gain of 0.52 percent.
"This performance has been achieved in a tough economic environment on top of exceptional mild weather in Europe and gas tariff freeze in France," the company said in a statement.
Taking into account the near billion-euro hit due to the record warm weather and French freeze on gas tariffs, the operating profit was in line with the company's forecasts.
GDF Suez set a 2012 net earnings target 3.5 to 4.0 billion euros and EBITDA earnings of around 17 billion euros.
"This solid performance demonstrates that we have the right long term strategy," chief executive Gerard Mestrallet said in a statement.
"We are confident that the strengths and flexibility of GDF SUEZ will enable the Group to address the coming challenges of the world economy successfully and to deliver sustained growth with focus on profitability in the coming years."
© 2012 AFP
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