Finance

2018 annual results

2018 ANNUAL RESULTS: TARGETS EXCEEDED
RECORD ORGANIC GROWTH IN REVENUE AND OPERATING INCOME (EBIT)
CONTINUED GROWTH IN 2019

> 2018 targets exceeded: Revenue and EBIT up 11.9% and 11.5%, respectively, at constant exchange rates1; Free cash flow in excess of €1bn
> Strong performance by WTS, with organic revenue growth up 6.7% and full-year synergies exceeding the target at $30m
> Net income Group share up 13.4%
> 2018 dividend per share of €0.65 to be proposed at the Annual General Meeting on May 14, 2019

> 2019 outlook2 :
  • Organic growth in revenue of 2%-3% and in EBIT of 4%-5%
  • FCF growth of 7%-8%
  • Leverage ratio (Net debt/EBITDA) of c. 3 x in 20193
  • Continued ambition to lower leverage ratio in 2020
  • Dividend of €0.65 to be proposed at the Annual General Meeting in May 2020

 

In millions of euros December 31, 2017 restated4 December 31, 2018 Gross change Organic change
 FX change
 Change at constant FX1
Revenue 15,783
17,331
+9.8% +3.6% -2.0% +11.9%

EBITDA

EBITDA/Revenue

2,578

16.3%

2,768

16.0%

+7.4%

 

+3.4%

 

-2.0%

 

+7.9%5

 

EBIT

EBIT/Revenue

1,212

7.7%

1,335

7.7%

+10.2%


 +7.5%


-2.9%


+11.5%5


Net income - Group share 295 335 +13.4%
FCF 1,004 1,023 +1.9%
Net debt 8,470 8,954 +5.7%
Net debt / EBITDA
3.3x
 3.2x -0.1x


Meeting on February 26, 2019, the Board of Directors approved SUEZ's 2018 financial statements, which will be submitted for the approval of the Annual General Meeting on May 14, 2019. The consolidated financial statements have been audited and certified by the statutory auditors.

Commenting on these results, Jean-Louis Chaussade, CEO, said:

1 At constant exchange rates, and before the impact of both the change in US tax law on regulated water activities and the depreciation charge associated with the purchase price allocation of GE Water

2 Assuming water volumes sold remain in line with historical trends, volumes of waste treated rise by 1.5% in Europe and raw materials prices are stable relative to December 31, 2018

3 Excluding impact of application of IFRS 16 accounting standard

4 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 and IFRS 9 accounting standard as of January 1st, 2018 and following GE Water purchase price allocation – see appendix

5 Before the depreciation charge associated with the purchase price allocation of GE Water -€6m on EBITDA and -€41m on EBIT

Press contact

Isabelle Herrier Naufle
isabelle.herrier.naufle@suez.com +33 1 58 81 55 62
Analysts / Investors
+33 1 58 81 24 05

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