STEADY GROWTH IN REVENUE
NET INCOME GROUP SHARE DOUBLED
NEW MINORITY SHAREHOLDER IN US REGULATED WATER
IN ORDER TO ACCELERATE DEVELOPMENT
2018 TARGETS CONFIRMED
First-half 2018 results:
Revenue: ā¬8,351m, up +15.0% at constant exchange rates1
EBIT: ā¬607m, up +12.0% at constant exchange rates1
Net debt: ā¬9,323m; net debt/EBITDA ratio of 3.5x
Net income Group share: ā¬90m
In millions of euros
June 2017 restated2
June 30 20183
Gross change
Organic change
FX change
Change at constant exchange rates1
Revenue
7,493
8,351
+11,4%
+3,0%
-3,5%
+15,0%
EBITDA
1,268
1,323
+4,4%
+2,6%
-3,4%
+8,8%
EBIT
594
607
+2,3%
+7,5%
-4,4%
+12,0%
Net income Group share
44
90
103,5%
After the Board of Directors approved the first-half 2018 results at its July 25, 2018 meeting, Jean-Louis Chaussade, Chief Executive Officer, made the following statement:
The year has started off well. The Groupās growth momentum is intensifying, notably with the significant contribution from WTS, which exceeded our expectations at the end of the first half of the year. Growth was also robust in the International and the Recycling & Recovery Europe divisions, with a strong commercial performance in all geographies. The Water Europe division continued to be negatively affected by the absence of inflation in France and Spain and by disappointing weather conditions during the first half of the year. The Groupās profitability is improving, driven by growth in revenue and by the first impacts of our action plan on operational performance. The results for the first half of the year therefore give us a great deal of confidence in our ability to meet our full-year targets. In addition, we signed an agreement with PGGM to sell 20% of the capital in our regulated water activities in the United States. The proceeds will enable the Group to accelerate its growth in this high value creation segment.
Jean-Louis Chaussade
,
Chief Executive Officer of SUEZ
1 Before impacts of the purchase price allocation for the acquisition of GE Water and the change in US tax law, which is neutral to net income Group share. 2For comparability purposes, the 2017 figures cited in this press release and used to calculate the annual changes have been restated to reflect the application of IFRS 15 as of January 1, 2018 ā see appendices 3Includes the impact of the purchase price allocation of GE Water for ā¬(4)m at EBITDA, ā¬(22)m at EBIT et (12)m⬠at net income group share level.