February 26, 2020 / 7:26 AM / in a month

France's Suez flags a coronavirus hit on its 2020 earnings

PARIS, Feb 26 (Reuters) - French utility Suez on Wednesday confirmed its financial targets for 2021 and flagged that the coronavirus outbreak in China would hit its 2020 earnings.

The group said in a statement the coronavirus impact on its 2020 earnings before interest and tax (EBIT) was estimated at between 30 million euros ($32.6 million) and 40 million euros ($43.5 million), while it assumed a progressive return to normal in the second quarter of 2020.

Chief Executive Officer Bertrand Camus said in a conference call the outbreak has so far mostly hit its activities in China.

The company still expects to reach next year a recurring earnings per share of 0.80 euro and recurring free cash flow of 500 million euros.

$1 = 0.9201 euros Reporting by Benjamin Mallet and Matthieu Protard; Editing by Tom Hogue

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