Financial results of the 1st quarter of 2017

May 10th 2017

FIRST-QUARTER 2017

 ENCOURAGING OPERATING TRENDS

EARNINGS GROWTH

ACQUISITION OF GE WATER, A MAJOR GROWTH MILESTONE FOR SUEZ

Q1 2017 results[1]:

  • Revenue: €3,721m, up +4.7%
  • EBIT: €281m, up +10.8%
  • Net financial debt: €8,125m, net financial debt / EBITDA[2] ratio of 3.0x

Commenting on the first-quarter 2017 results, Chief Executive Officer Jean-Louis Chaussade said : 

« Our business in the first quarter is encouraging. Revenue growth posted by the Recycling & Recovery Europe division was particularly strong, fueled by the rebound in raw materials prices and the increase in volume. The International division continued to post growth following a satisfactory year in 2016, while revenue in the Water Europe division also edged up slightly, helped by steady volume sales in all regions, despite flat inflation rates in both France and Spain. As a result, organic growth was solid across the Group. Against this backdrop, we are confident that we will achieve our 2017 targets.

At the same time, Q1 2017 saw a major milestone for the Group with the signature of an agreement with GE to acquire the US utility, GE Water. The deal consolidates SUEZ’s global leadership in industrial water treatment, a growing and strategically important market for the Group. Moreover, it will also strengthen our presence outside Europe, especially in the United States. The transaction is scheduled to be completed as planned during third-quarter 2017. »

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[1]Excluding IFRIC 21
[2]The ratio of net financial debt/EBITDA calculated over a rolling 12 month period

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