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French utility Suez says 2019 off to strong start

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PARIS (Reuters) – French waste and water group Suez said it had enjoyed a strong start to the year and had experienced robust sales momentum across all divisions.

First-quarter revenues rose 3.8 percent to 4.2 billion euros (£3.6 billion).

Its core earnings before interest, tax, depreciation and amortisation (EBITDA) rose 12.1 percent to 709 million euros and EBIT (earnings before interest and tax) advanced 5.3 percent to 293 million euros.

Suez’s full-year 2018 revenue had risen 9.8 percent, boosted by its European recycling business and its industrial water unit WTS, while core earnings were up 7.4 percent.

Suez confirmed its target for 2019 organic revenue growth of 2-3 percent and organic EBIT growth of 4-5 percent.

French sector peer Veolia is due to report first-quarter earnings on May 2.

(Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta)

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