UPDATE 2-French Suez targets 1 bln euros in cost cuts by 2023 to lift earnings [Reuters]
SUEZ AMERICAN DEPOSITARY RECEIPTS - UNSPONSORED (SZEVY)
NASDAQ:AMEX Investor Relations:
sebgroup.com/investor-relations/the-share/american-depositary-receipts-adr
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Source: Reuters
UPDATE 2-French Suez targets 1 bln euros in cost cuts by 2023 to lift earnings - Reuters 3 Min Read * Suez dividend unchanged at 0.65 euro for a decade * Shares down 2.3% in early trade * Oddo says the new strategy plan lacks detail (Adds CEO comments, stock opening) By Geert De Clercq PARIS, Oct 2 (Reuters) - The new chief executive of Suez wants to boost the French waste and water firm’s earnings by cutting costs by a billion euros ($1.1 billion) per year by 2023 and seeking more growth from industrial customers. A new strategy plan for the next four years aims to boost profitability from 2021, when Suez wants to have recurring earnings per share of 0.8 euros from 0.47 in 2018, but its dividend will remain unchanged for now. CEO Bertrand Camus said Suez is targeting annual cost savings of 1 billion euros by 2023, with nearly half of these savings already in place by 2021. He declined to say when Suez might increase its dividend, which has been unchanged at 65 cents per share since t
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