Finance

Shaping SUEZ 2030: Positioned for the green recovery

H1 RESULTS CONFIRM IMPROVING TRENDS
SOLID COMMERCIAL DYNAMIC
ASSET ROTATION GATHERING PACE
 

  • Implementation of Shaping SUEZ 2030 strategy progressing well:
    • H1 commercial successes showcase our selective growth priorities: International, Industries and Tech & Data Driven Solutions
    • Asset rotation plan: main wave one projects in negotiation phase; first re-investments projects in growth areas
    • Performance plan: on track to deliver at least 45-50% of the total targeted €1bn annual savings in 2021
  • H1 2020 results better than previously indicated:
    • Revenue: organic decline of -4.5% vs. last year
    • EBIT above expectations at €76m, with a solid June performance
    • Strong actions on cashflow: capex reduced 17% and working capital requirement flat
    • Solid financial structure: Net Debt at €10,749m; reinforced liquidity at €6,171m
  • H2 2020 guidance(1):
    • H2 2020 Revenue to be down organically -4% to -2% versus last year
    • H2 2020 EBIT estimated around €600m to €650m
SUEZ’s Board of Directors examined the consolidated financial statements at June 30, 2020 at its meeting held on July 29, 2020. They were also reviewed by the Audit Committee at its meeting of July 27, 2020. The consolidated financial statements have been reviewed by the statutory auditors.


Bertrand Camus, SUEZ CEO, commented:

(1) Our main assumptions in the above outlook include constant FX, a difficult summer for tourism, no return to a generalized, region-wide confinement situation in the second half and in general a continuation of the trends in our major businesses in May and June.

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