SUEZ: Recycling & Recovery Europe division shows increase of 2.7% in first-half of 2017

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Source: SUEZ

Paris, France — The SUEZ Board of Directors approved the first-half 2017 results at its July 26, 2017 meeting. Jean-Louis Chaussade, Chief Executive Officer, stated: “Organic growth stood at 0.9 percent for revenue and 1.4 percent for EBIT in first-half 2017, putting the Group on track to meet its full-year targets. The encouraging trends identified in the Recycling & Recovery Europe division since the first quarter remain in place. SUEZ is also continuing to step up its ambitious transformation, the full impact of which being effective in 2018.“

The Recycling & Recovery Europe division reported revenue of €3,047 m, an organic increase of 2.7 percent. Performance was notably driven by a substantial positive price effect on secondary raw materials, particularly scrap metals and paper, up 37 percent and 17 percent, respectively, compared with 2016. Volumes treated were down 0.5 percent overall. As the change in volumes treated in the second quarter was affected by the fewer workdays, the underlying trend remains encouraging.

By geographic region, the organic change in revenue was +4.6 percent in France, +2.7 percent in Sweden, +2.8 percent in the Benelux and Germany region and -3.2 percent in the United Kingdom due to an adverse construction effect unrelated to the volume trend. The Industrial Waste Solutions segment grew organically by +3.3 percent, thanks to a good commercial momentum with large industrial customers.

The Recycling & Recovery Europe division reported EBIT of €137 m, representing organic growth of €10 m (7.7 percent). This increase confirmed the improvement in operating momentum and was further enhanced by the stronger performance of electricity prices compared with the year-ago period.

The full information on first-half of 2017 results can be downloaded under suez.com.

Source: SUEZ