PARIS, April 23 (Reuters) – French utility GDF Suez
posted a 5.7 percent rise in first-quarter core earnings thanks
to higher gas tariffs in France and a greater contribution from
British electricity producer International Power, which
it is taking over fully.
Core profit, or earnings before interest, tax, depreciation
and amortisation (EBITDA), rose to 5.8 billion euros ($7.7
billion) in the quarter on revenue up 10.5 percent year-on-year
to 28.2 billion, the group said in a statement on Monday.
GDF Suez still expects 2012 net recurring income to grow to
between 3.7 billion and 4.2 billion e uros provided it fully
acquires International Power and assuming average weather and a
stable regulation environment, it said.
It has forecast that International Power will contribute 200
million euros to net recurring income.
GDF Suez’s earnings follow those of International Power,
benefiting from its strong presence in fast-growing emerging
markets, and France’s Suez Environnement, which saw
Europe’s economic slowdown weigh on waste volumes.