May 17, 2018 / 5:51 AM / 4 months ago

Higher waste volumes boost Suez's Q1 core earnings

PARIS, May 17 (Reuters) - French waste and water group Suez said first-quarter core earnings rose 3.4 percent due to a sharp improvement in the volumes of waste treated in Europe, and despite lower paper prices caused by a Chinese ban on imports.

Suez’S first-quarter revenues rose 9.1 percent to 4.06 billion euros ($4.80 billion).

On an organic basis, before the integration of its GE Water acquisition, revenues were up 1.7 percent, while at constant exchange rates, they were up by 13.8 percent.

Core earnings before interest, tax, depreciation and amortisation (EBITDA) were up 3.4 percent to 635 million euros while EBIT (earnings before interest and tax) climbed by 2.8 percent to 289 million euros.

Suez also confirmed its 2018 earnings guidance for revenue growth of about nine percent and EBIT growth of about 10 percent, both at constant exchange rates.

$1 = 0.8462 euros Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta

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