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:
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