Lower industrial waste volumes and secondary raw materials prices continued to leave their mark on the European waste management operations of French group Suez Environnement. The division’s turnover in the first six months of 2013 stood at €3.255bn, according to the group’s half-year report published on Wednesday. This is a decrease by 3.6 per cent compared to the €3.377bn generated one year before.
Earnigns before interest, tax, depreciation and amortisation (Ebitda) were also down 3.6 per cent at €382m. “With a stable 11.7 per cent Ebitda margin, the Waste Europe division held up very well given the current macro-economic environment”, Suez Environnement commented. This stability was the result of efforts to “variabilise costs”, group finance director Jean-Marc Boursier told analysts. The cost savings generated by the division reached €34m in the first half.