Finance

SUEZ results at September 30, 2018

POSITIVE TREND MAINTAINED AND FULL-YEAR TARGETS CONFIRMED
VERY STRONG PERFORMANCE BY WTS

  • Organic revenue growth accelerated to +3.8% and organic EBITDA growth to +3.9%
  • Organic EBIT growth momentum continued at +7.5%
  • Net debt/EBITDA ratio decreased to 3.4x at end-September vs 3.5x at end-June

  

in millions of euros
September 30, 2017 restated1
September 30, 2018 Gross change Organic change FX change
Change at constant FX2
Revenue 11,234
12,697
+13.0%
+3.8%
-2.6% +15.8%

EBITDA
EBITDA/Revenue

1,920

17.1%

2,048

16.1%

+6.7%


+3.9%


-2.5%


+10.4%3


EBIT pre PPA
EBIT pre PPA/Revenue

922

8.2%

997

7.9%

+8.1%

 

+7.5%

 

-3.4%

 

+13.3%

 

EBIT
EBIT/Revenue

922

8.2%

963

7.6%

+4.4%

 

+7.5%

 

-3.4%

 

+9.7%

 

Net debt 9,013 9,332

 

  • SUEZ’s revenue reached €12,697m at September 30, 2018, with organic growth of +3.8%, representing a further improvement in the third quarter after a +3.0% increase in the first half of the year. This strong performance was driven mainly by the Water Technologies Solutions (WTS) division, which was up +6.9% on an organic basis, and by an improvement in organic growth at the Water Europe division to +1.5% at end-September vs 0.5% at end-June, due to more favorable weather conditions in the third quarter. The Recycling and Recovery Europe division remained strong at +3.4% (+3.6% at end-June) despite pricing pressure in recycled raw materials, in particular in paper and cardboard. Organic growth at the International division improved to +3.5% vs +1.7% at end-June.
  • EBIT at September 30, 2018 stood at €963m, for organic growth of +7.5%, in line with the first half of the year, and up +13.3% at constant exchange rates and excluding the GE Water purchase price allocation (PPA) impact. Our Compass cost savings program also had a €146m positive impact on operating profitability.

 

Commenting on the results at September 30, 2018, Jean-Louis Chaussade, CEO, said:

1 For comparability purposes, the 2017 figures mentioned in this press release and which serve as a basis to calculate annual changes are restated following application of the IFRS 15 accounting standard as of January 1st, 2018.
2 Before the impact of US tax system changes on regulated activity, neutral on net income Group share.
3 Variation pre-GE Water purchase price allocation charge in 9M 2018 (€(6)m impact on EBITDA).