April 22, 2013
STABLE OPERATING PERFORMANCE IN A DIFFICULT ECONOMIC CONTEXT IN
- Revenue: down at €3 497m, -2.6%
- EBITDA: €570m, +0.8%
- EBITDA margin: 16.3%, up compared to Q1 2012 (15.8%)
Organic Change in
In MEUR 31 March 2012 31 March 2013 change change scope
Revenue 3,591 3,497 -2.6% -2.6% +0.2%
EBITDA 566 570 +0.8% 0.0% +0.5%
EBITDA/Revenue 15.8% 16.3%
- For the 1 st quarter of 2013, SUEZ ENVIRONNEMENT repor ted revenues down by -2.6% at €3,497m , or stable excluding the impact of Melbourne plant construction completion in December 2012. The Water Europe and International divisions reported organic growth, respectively +3.4% and +5.0% (excluding the Melbourne plant completion). The Waste Europe division is down by -5.3% linked to a reduction of the treated volumes. SUEZ ENVIRONNEMENT continues its commercial development with the gain of contracts such as Merseyside ( United Kingdom), Poznań ( Poland), Tours ( France) in waste, Rhône Ventoux ( France) in water, or finally New Delhi ( India).
- EBITDA stands at €570m , up +0.8% or stable in organic terms. Despite a difficult macro-economic context in Europe, the EBITDA margin stands at 16.3%, improving versus Q1 2012. This operating performance confirms the relevance of the strategic choices made by the Group, both in terms of business model and cost reductions already achieved and further strengthened since the second half of 2012.
- The Group ' s net financial debt (NFD) stands at €7,616m . It includes negative marked-to-market and forex effects. In Q1, the NFD/EBITDA ratio is in line with the objective of around 3 times.
- Commenting on the first quarter 2013 results, Jean-Louis Chaus sade, Chief Executive Officer , stated: " Our Group's performance remains good d espite an economic context that is particularly difficult in Europe in the beginning of 2013. This is the result, on one hand, of an optimize d m anagement of our assets with a further reinforce d cost control and , on the other hand, the relevance of our strategic choices, with the development of four priorit ies axes for growth, which are smart water, waste recovery, international development and industrial water.
The Water Europe business has increased thanks to contract gains and renewals, and the steady development of new business activity. International Division maintains a dynamic growth in
. However, Waste Europe Division has been affected by a decrease in treated volumes, a direct consequence of the decline of industrial production in
pursues its target to improve its operational performance on a constant basis
, while preparing
for the future:
of the Group
is based on long-term
, high-quality assets, and a clearly defined development strategy.
BREAKDOWN OF ACTIVITY AS AT END MARCH 2013
Revenue 31 March 2012 31 March 2013 change change scope
Water Europe 1,008 1,041 +3.3% +3.4% -0.4%
Waste Europe 1,658 1,583 -4.6% -5.3% -0.1%
International 923 870 -5.7% -4.1% -0.2%
Other 3 2 - - -
TOTAL 3,591 3,497 -2.6% -2.6% +0.2%
reported revenues of €3,497m, a gross change of -2.6% (-€95m) overall compared with
, 2012. This breaks down as follows:o:
- Organic variation of -2.6% (-€93m):
- Revenue in the Water Europe division was up (+€34m, +3.4%) for both Lyonnaise des Eaux and Agbar, benefiting from rising prices, and the development of new business activities.
- Revenue in the Waste Europe division was down (-€89m, -5.3%). It was affected by a drop in the treated waste volumes and a fall of secondary raw material prices.
- Revenue in the International division was down (-€38m, -4.1%) but up +5.0% excluding the impact of Melbourne plant construction completion in December 2012.
- Scope effect of +0.2% (+€9m):
- Water Europe: -€4m
- Waste Europe: +€15m
- International: -€2m
- Unfavourable exchange rate impact of -0.3% (-€11 m ), mainly due to the depreciation of the Australian dollar (-€7m) and the pound sterling (-€4m) against the euro.
- In the first quarter of 2013, SUEZ ENVIRONNEMENT posted 30% of its revenue outside Europe.
- SUEZ ENVIRONNEMENT maintains its objectives [ 4] . and remains fully mobilized to achieve its 2013 guidance