GDF Suez: 1Q Revenue Up 6.9% On Year To EUR25.5 Bln

French giant utility GDF Suez SA (GSZ.FR) Monday said its first-quarter total revenue rose 6.9% on year to EUR25.5 billion.

GDF Suez's earnings before interest, taxes, depreciation and amortization, or Ebitda, rose 6.1% on year to EUR5.5 billion, the company said in a statement released Monday. Ebitda is a measure of a company's cashflow.

The increased revenue came from organic growth and from the assets of recently-merged International Power PLC. Exchange rate fluctuations boosted revenue by EUR156 million, mainly on the Brazilian real, the British pound and the U.S. Dollar, the statement said.

The company reduced total debt at the end of March by EUR2.9 billion to EUR39.9 billion, the statement said.

The company said EUR900 million out of the debt reduction came from positive exchange rate effects.

The company maintained its 2011 and medium-term targets.

"The group's first quarter results are satisfactory and rising. They confirm the relevance of our diversified and balanced business model, of our business strategy and of the combination with International Power assets," said Gerard Mestrallet, GDF Suez chairman and chief executive.

GDF Suez shares were 0.3% up at EUR27.70 at 12.38 GMT, while the CAC-40 benchmark index was up 0.4%.