SUEZ H1 2019:
ORGANIC GROWTH IN LINE WITH OUR EXPECTATIONS
2019 OBJECTIVES CONFIRMED
Bertrand Camus, SUEZ CEO, commented:
SUEZ's operating performance in the first half of the year was solid, with organic growth in revenue and EBIT in line with our expectations. We confirm our 2019 objectives. For the first-half, our commercial success matches our priorities: international expansion, consolidation of our positions in Europe, growth with industrial customers and increased focus on innovation in high value-added businesses. In particular, SUEZ won Manchester’s waste management contract, opened the most modern sorting center in Europe in Germany and began construction of a plastic recycling plant in Thailand. The Group also acquired a majority stake in a Saudi company, EDCO, a hazardous waste specialist. Finally, the acquisition in China of ALS laboratories, a leader in analysis, control and certification, strengthens our innovation capabilities. Looking ahead, my ambition is to make SUEZ the world leader in environmental services, contributing to a more sustainable planet. Our business and expertise are central to the challenges of our times, especially sustainability and climate change. With the support of the Board of Directors, we are making progress on a comprehensive strategic review. The strategic repositioning resulting from this review will be presented by October 30th. By mobilizing all the Group's talent, I am determined to ensure our growth is selective and profitable, in order to create value for all stakeholders.
Bertrand Camus , Chief Executive Officer of SUEZ
SUEZs Board of Directors examined the consolidated financial statements at June 30, 2019 at its meeting held on July 25, 2019. They were also reviewed by the Audit Committee at its meeting of July 24, 2019.
| Excluding IFRS 16 |
||||||
|---|---|---|---|---|---|---|
| In millions of euros | June 30, 2018 |
June 30, 2019 | Gross variation |
Organic variation |
Gross variation |
Variation at constant FX |
| Revenue | 8,351 |
8,656 |
+3.7% | +3.5% | +3.7% | +2.9% |
|
EBITDA EBITDA / Revenue |
1,323 15.8% |
1,521 17.6% |
+15.0%
|
+2.4%
|
+3.1%
|
+2.6%
|
|
EBIT EBIT / Revenue |
607 7.3% |
645 7.5% |
+6.2%
|
+4.8% |
+5.2% |
+5.0% |
| Net income - Group share | 90 |
212 | x2.3 |
|||
| Net income - Group share excluding one-offs1 |
69 |
79 | +14.3% |
|||
| In millions of euros | June 30, 2018 | June 30, 2019 | Gross variation |
|---|---|---|---|
| Free Cash-Flow |
238 |
292 |
+22.7% |
| Excl. IFRS 16 |
|||
|
Net Debt |
9,323 |
10,614 |
-0.9% |
| Net Debt / EBITDA |
3.5x |
3.3x² | -0.2x |
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