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SUEZ ENVIRONNEMENT- Financial Results - 1st Quarter 2013

PARIS, April 22, 2013 /PRNewswire/ --

1 st   QUARTER 2013

STABLE OPERATING PERFORMANCE IN A DIFFICULT ECONOMIC CONTEXT IN EUROPE

  • Revenue: down at €3  497m, -2.6%
  • EBITDA: €570m, +0.8%
  • EBITDA margin: 16.3%, up compared to Q1 2012 (15.8%)
                                                Gross
                                                          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 Asia and Australia. However, Waste Europe Division has been affected by a decrease in treated volumes, a direct consequence of the decline of industrial production in Europe.

SUEZ ENVIRONNEMENT  pursues its target to improve its operational performance on a constant basis , while preparing  the Group  for the future: the growth  of the Group  is based on long-term  drivers , high-quality assets, and a clearly defined development strategy. "

BREAKDOWN OF ACTIVITY AS AT END MARCH 2013

                                                  Gross   Organic
                                                                    Change in
    Revenue       31 March 2012[1] 31 March 2013  change   change     scope
    In MEUR
    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[2]           870       -5.7%    -4.1%      -0.2%
    Other[3]             3               2          -        -          -
    TOTAL              3,591           3,497      -2.6%    -2.6%      +0.2%

On March 31 st, 2013, SUEZ ENVIRONNEMENT reported revenues of €3,497m, a gross change of -2.6% (-€95m) overall compared with March 31 st, 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

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