Suez raises revenue growth forecast for full year

Suez CEO Betrand Camus
30.10.2019 − 

Price increases helped drive growth in revenue for Suez’s Recycling & Recovery Europe division. In the first three quarters of 2019, the business unit’s revenue increased 3.6 per cent to €4.80bn, according to figures released by the French environmental services group. The organic growth rate was 4.6 per cent, mainly thanks to the division’s “industrial waste specialties” operations and its Benelux/Germany and UK/Scandinavia regions. In Suez’s home market France, revenue growth was almost flat at 0.4 per cent (+€10m). The volume of waste treated by the division was up one per cent compared to the same period last year, according to the Q3 report.

The group’s other divisions also contributed towards “solid organic growth” in the first three quarters. According to Suez CEO Bertrand Camus, this enabled the group to raise its revenue expectations for the full year to the upper end of its organic growth target range of 2-3 per cent. In the first three quarters, organic growth already reached three per cent, with group consolidated revenue rising to €13.13bn. Earnings before interest and tax (Ebit) improved nearly six per cent to €1.02bn. This was driven mainly by the group’s Recycling & Recovery Europe division and the water and waste management activities outside Europe, according to Suez.

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