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