PARIS (dpa-AFX) - French water treatment and waste management firm Suez Environnement Co SA (SZEVY.PK, SZEVF.PK ) Friday said its first-quarter revenues grew 2.2 percent, amid a difficult economic environment in Europe. Organic growth was 1.4 percent, with all of its divisions contributing.
The company saw slowdown in waste volumes in the first quarter. In Europe, revenues declined 1.9 percent. Meanwhile, in North America and Australia, revenues were up 4.8 percent and 24.6 percent, respectively.
EBITDA, a key earnings measure, declined 4.5 percent to 566 million euros. The company noted that EBITDA was affected in Waste in Europe by a decrease in volumes treated, citing a difficult macro-economic environment and an unfavorable climate in February.
Jean-Louis Chaussade, CEO of the company said, 'In a difficult economic context in Europe, and with the beginning of the year affected by adverse climatic conditions, the results for the 1st quarter have been impacted by the slowdown of treated waste volumes. Nevertheless, the Water business both in Europe and in our International divisions has shown good growth, as illustrated by the signature of the new water and wastewater operation contract for the city of Perth.'
In the first quarter, the company's revenues increased to 3.59 billion euros from 3.51 billion euros a year ago.
The company generated 69 percent of its revenue from Europe. International revenues, excluding Europe, accounted for 31 percent of revenues, compared to 28 percent in the year 2011, mainly benefited from strong growth in waste activity in Australia.
All divisions showed organic growth, with 2.8 percent increase for Water in Europe, 1.2 percent for Waste in Europe and 0.4 percent Internationally.
In Paris, the shares closed Thursday's regular trading at 10.32 euros, down 0.34 percent, on 1.22 million shares.
Copyright RTT News/dpa-AFX
© 2012 AFX News
