October 30, 2018 / 6:39 AM / 20 days ago

Utility Suez 9-month core earnings rise 6.7 percent

PARIS (Reuters) - French waste and water group Suez (SEVI.PA) said its core earnings in the first nine months of the year rose 6.7 percent to 2.05 billion euros (1.82 billion pounds), boosted by a strong performance at its key European recycling division.

Nine-month revenues rose 13 percent to 12.7 billion euros, including a 12 percent or 1.34 billion euro effect due to the first-time consolidation of Suez’s GE Water acquisition.

Suez confirmed its 2018 earnings guidance for revenue growth of about nine percent and growth in EBIT (earnings before interest and tax) of about 10 percent, both at constant exchange rates. Nine-month EBIT stood at 963 million euros, up 4.4 percent gross and up 9.7 percent at constant exchange rates.

($1 = 0.8794 euros)

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

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