PARIS May 10 French waste and water group Suez
said in a statement that strong growth at its European
waste division helped boost first-quarter earnings before
interest and taxes by 10.8 percent to 281 million euros ($306
Suez's first-quarter core earnings before interest, tax,
depreciation and amortisation (EBITDA) rose 7.1 percent to 614
million euros as revenue rose 4.7 percent to 3.72 billion euros.
Its core 'Recycling and Recovery Europe' division saw
revenue grow 5.1 percent to 1.45 billion euros, mainly due to
higher commodity prices and an increase in the amount of waste
material treated by it.
Suez chief executive Jean-Louis Chaussade said business in
the first quarter was "encouraging" and the company confirmed
its 2017 targets - excluding the effects of its GE Water
acquisition - for slight organic growth in revenue and EBIT, and
for free cash flow of around 1 billion euros.
The company reiterated it expects the GE Water deal to be
closed as planned during the third quarter of this year.
($1 = 0.9181 euros)
(Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta)