May 3, 2018 / 5:44 AM / 3 months ago

Utility Veolia's Q1 revenues rise 3.7 pct, boosted by new services

PARIS, May 3 (Reuters) - Utility Veolia said first-quarter revenue rose 3.7 percent to 6.4 billion euros ($7.7 billion), slightly better than forecasts for 6.3 billion, lifted by growth in new services such as toxic waste handling and so-called ‘smart’ water.

The French water and waste group’s core earnings before interest, tax, depreciation and amortisation (EBITDA) rose 3.4 percent to 876 million euros, in line with forecasts for 872 million euros.

Current EBIT (earnings before interest and tax) rose 4.8 percent to 448 million, while net profit jumped 26 percent to 193 million euros partly because of capital gains on the sale of its industrial services division in the United States.

The strong euro weighed on earnings, with exchange rate changes having a 204 million euro negative impact on revenue, which was up 7 percent at constant exchange rates.

Veolia also confirmed its 2018 and 2019 earnings guidance.

$1 = 0.8346 euros Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta

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