The French environmental group Suez raised its revenue and results in 2019, closing the year with net earnings of €352m. "Suez has posted solid 2019 results: all the targets set were met or exceeded, with a good growth rate in the fourth quarter", commented group CEO Bertrand Camus at the release of the figures in Paris on Wednesday.
The company's Recovery & Recycling Europe division, which pools its waste management operations in the region, raised its revenue 4 per cent to €6.37bn last year. The activities in the Benelux countries and Germany contributed €1.6bn to the total, with growth reaching 9 per cent.
Recovery & Recycling Europe's Ebit up 7 per cent
Suez attributed the increase to treatment capacity shortages in the region which led to price increases in business with industrial and commercial customers. Revenues in the UK/Sweden region were up 6 per cent to €1.2bn, while the "industrial waste specialties" business achieved an 11 per cent increase to €501m. Growth in France was almost flat, with annual revenues reaching €3.2bn. The European division's earnings before interest and tax (Ebit) increased by 7 per cent to €308m.
The rollout of the group's new "Shaping Suez 2030" is well underway, according to the company. Through the strategy, Suez aims to position itself as the world leader in environmental services. Implementing it also involves adjustments in the group's asset portfolio. Suez said that the company anticipated a "first wave of disposals" to be completed in 2020 and that "the first effects of selective growth strategies and transversal projects to simplify processes" would gradually materialise this year.