Suez Environnement 9-month EBIT Rises; Confirms FY18 Outlook - Quick Facts

(RTTNews) - French utility Suez Environnement Co. SA (SZEVF.PK, SZEVY.PK) reported that its EBIT for the first nine months of 2018 rose 4.4 percent to 963 million euros from a restated 922 million euros in the year-ago period. EBIT rose 9.7 percent at constant exchange rates.

EBITDA for the nine months increased 6.7 percent to 2.05 billion euros from 1.92 billion euros a year ago.

Revenue for the period grew 13.0 percent to 12.70 billion euros from a restated 11.23 billion euros in the same period last year, with organic growth of 3.8 percent. Revenue increased 15.8 percent at constant exchange rates.

The company noted that the revenue growth was driven mainly by the Water Technologies Solutions or WTS division, which was up 6.9 percent on an organic basis, and by an improvement in organic growth at the Water Europe division to 1.5 percent at end-September compared to 0.5 percent at end-June, due to more favorable weather conditions in the third quarter.

Jean-Louis Chaussade, CEO of Suez Environnement, said, "SUEZ's organic growth accelerated sharply in the third quarter to reach 3.8% at end-September. The Group recorded robust growth momentum in the first nine months of the year."

Looking ahead, the company expressed confidence that it will meet the targets set for full-year 2018.
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