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:
|in € m||March 31, 2017
||March 31, 2018
||Organic change||Gross change||Change at constant exchange rates||FX change|
EBITDA / revenue
|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: