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Utility Suez's 9-month earnings slip, although company confirms guidance
October 27, 2017 / 5:35 AM / 2 months ago

Utility Suez's 9-month earnings slip, although company confirms guidance

PARIS, Oct 27 (Reuters) - French waste and water group Suez said earnings before interest and taxes (EBIT) fell 0.6 percent to 926 million euros ($1.1 billion) in the first nine months, although it confirmed its 2017 earnings guidance.

Suez confirmed its outlook for slight organic growth in revenue and EBIT this year, and for free cash flow of around 1 billion euros. That outlook does not include the impact of the takeover of industrial water specialist GE Water, which was finalised earlier this month.

The company’s core earnings before interest, tax, depreciation and amortisation (EBITDA) fell 1.7 percent to 1.92 billion euros, while revenues rose 0.7 percent to 11.30 billion.

Chief Executive Jean-Louis Chaussade said on an earnings call that revenue at the Europe waste division continued to rise, fuelled by the recovery in commodity prices and by an improvement in volumes during the last quarter.

$1 = 0.8596 euros Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta

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