Suez announces sustained revenue growth for the first quarter of 2001
During the first quarter of 2001, Suez Group revenues should exceed EUR 10 billion, which is more than a 30 % increase compared to the first quarter of 2000.
May 4, 2001—At the combined General Meeting of Shareholders today, May 4, 2001, G�rd Mestrallet made a comment on the first quarter 2001 revenues before the actual publication of the Group revenues on May 14, 2001.
During the first quarter of 2001, Group revenues should exceed EUR 10 billion, which is more than a 30 % increase compared to the first quarter of 2000.
The sustained revenue growth concerns all Group businesses.
On April 24, Suez sold most of its shares in the company Vinci. Suez previously had a 17 percent ownership in the company, but has carried out the EUR $830 million operations in the following transactions:
- 7 million Vinci shares were sold on the market;
- 1 million shares were sold to Vinci in connection with the latter's share buyback program;
- 1,5 million shares were sold off the market on a private placement basis; and
- 3 million shares were cashed in through a bond issue exchangeable into shares, carrying a premium of 22 %, a coupon of 1 % and yield to maturity amounting to 3 % maturing. The bond will be due on November 23, 2003.