Suez Q1 EBIT Down On Slightly Weak Revenue – Quick Facts
(RTTNews) – French utility Suez Environnement Co. SA (SZEVF.PK, SZEVY.PK) reported Thursday that its first-quarter EBIT fell 21.2 percent to 231 million euros from last year’s 293 million euros. EBIT was down 14.9 percent organically.
EBITDA was 676 million euros, down 4.7 percent from prior year’s 709 million euros.
Revenue for the quarter edged down 0.3 percent to 4.198 billion euros from last year’s 4.210 billion euros. Revenue grew 0.5 percent organically and 0.4 percent at constant exchange rates.
The company noted that all businesses saw first impacts from Covid-19, starting in January in China.
The company said, “In April we’re seeing the full impact of the health crisis on our revenues and profitability compared to an impact of one to two weeks in Q1 outside China. … As we reach the end of April we know that the declines in volumes have largely stopped and governments appear determined to drive the progressive exit from containment from May onward.”
