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Suez Q1 EBIT Rises, Confirms FY19 Forecast; Stock Up

Shares of Suez SA (SZEVF.PK,SZEVY.PK)were gaining around 2 percent in the morning trading after the French utility reported Friday that its first-quarter earnings before interest and tax or EBIT increased 5.3 percent to 293 million euros from 278 million euros last year. EBIT went up 3.3 percent in organic terms.

EBIT margin improved to 7 percent from prior year's 6.9 percent.

EBITDA, a key earnings metric, was up 12.1 percent to 709 million euros from last year's 633 million euros. EBITDA margin grew to 16.9 percent from 15.6 percent last year.

Revenue for the first quarter increased 3.8 percent to 4.21 billion euros from last year's 4.06 billion euros. Organic revenue growth was 3.7 percent, while revenues grew 3 percent at constant currency rates.

The company recorded strong sales momentum across all divisions.

Looking ahead for fiscal 2019, the company projects waste volumes in Europe to rise 1.5 percent.

Jean-Louis Chaussade , Chief Executive Officer of SUEZ, said, "Overall, the performance achieved in the first quarter is in line with our forecast trajectory and we are confirming our guidance for 2019."

In Paris, Suez shares were trading at 12.49 euros, up 2.13 percent.

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