Finance

First-quarter 2018 results

First-quarter 2018
Results fully in line with annual targets
European economic environment continues to improve
WT&S integration accelerates with strong commercial momentum
 

First-quarter 2018 results1:

  • Revenue: €4,058m, up +13.8% at constant exchange rates
  • EBIT: €289m, up +10.2% at constant exchange rates
  • Net financial debt: €8,817m; net debt / EBITDA ratio at 3.3x2

  

in € m March 31, 2017
March 31, 2018
Organic change Gross change Change at constant exchange rates FX change
Revenue 3,721
4,058 +1.7% +9.1% +13.8% -4.3%
 EBITDA  614 635 +2.6% +3.4% +8.8% -4.8%

EBITDA / revenue

16,5% 15,7%        
 EBIT 281 289 +5.5% +2.8% +10.2% -6.5%
EBIT / revenue 7.5% 7.1%        

 

In first-quarter 2018, SUEZ posted €4,058m revenue, up 13.9% at constant exchange rates. Momentum in the International division improved with 3.0% growth at constant exchange rates. Recycling and Recovery Europe reported revenue growth of 1.3% at constant exchange rates. This division was bolstered by the sharp improvement in the volume of waste treated (+3.6%) but was negatively affected by the adverse trend in paper and cardboard prices following China’s decision to restrict imports. The Water Europe division grew by 1.4% at constant exchange rates, driven by higher water volumes sold in Latin America which offset the lack of inflation in Europe. Water Technologies & Solutions (WT&S) revenue stood at $611m3, up 4%4.

EBITDA at end-March 2018 stood at €635m, up 8.8% at constant exchange rates. EBIT rose 10.2% at constant exchange rates, to reach €289m.

Group net financial debt was €8.8bn5 versus €8.5bn at end-2017, or 3.3 times EBITDA2.

Commenting on the first-quarter 2018 results, Chief Executive Officer Jean-Louis Chaussade said:

1 Excluding IFRIC 21
2 Calculated over a 12-month rolling period
3 €497m
4 Growth measured relative to estimated Q1 2017 revenue on a like-for-like basis (pro forma)
5 Of which +€268m of seasonal increase in working capital requirement

Press contact

Isabelle Herrier Naufle
isabelle.herrier.naufle@suez.com +33 1 58 81 55 62
Ophelie Godard
ophelie.godard@suez.com +33 1 58 81 54 73
Analysts / Investors
+33 1 58 81 24 05

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