First-half 2017
slight increase in operating results
half-year net result includes transformation plan costs
full-year targets confirmed
GE Water acquisition to close by the end of third-quarter 2017
First-half 2017 results:
| in € m | June 30, 2016 | June 30, 2017 | Gross change | Organic change | FX Change | Scope change |
|---|---|---|---|---|---|---|
| Revenue | 7,455 |
7,526 |
+1.0% |
+0.9% |
+0.4% | -0.3% |
|
EBITDA |
1,271² 17.1% |
1,268 16.8% |
-0.2% |
+0.2% |
+1.4% |
-1.8% |
| EBIT EBIT / revenue |
598² 8.0% |
594 7.9% |
-0.6% | +1.4% | +2.1% | -4.1% |
After the Board of Directors approved the first-half 2017 results at its July 26, 2017 meeting, Jean-Louis Chaussade, Chief Executive Officer, made the following statement:
Organic growth stood at 0.9% for revenue and 1.4% for EBIT in first-half 2017, putting the Group on track to meet its full-year targets. The encouraging trends identified in the Recycling & Recovery Europe division since the first quarter remain in place. SUEZ is also continuing to step up its ambitious transformation, the full impact of which being effective in 2018. SUEZ also reached another important milestone in its development with the signature of an agreement with General Electric to acquire GE Water. This deal secures SUEZ’s global leadership in industrial water services and strengthens its positioning as an integrated group of services. At the same time, it builds on SUEZ’s international footprint, especially in the United States. The transaction is expected to close by the end of third-quarter 2017. Our teams are fully committed to a successful integration and to achieving the expected synergies. We will present the Group’s strategy for these markets and provide details on the business activities of SUEZ Water Technologies & Solutions, as the new entity will be called, at a separate dedicated meeting in fourth-quarter 2017.
Jean-Louis Chaussade , Chief Executive Officer of SUEZ
1 Excluding IFRIC 21
2 EBITDA and EBIT for the International division had benefited from the €36m impact of the completion of the acquisition of Derun Environment