Driven by the success of the SUEZ 2030 plan, Suez is showing a very sharp upswing in performance the group confirms all of its objectives.
The results fully support the objectives set for 2021:
- Revenue: €8,711 million, with organic growth of +11.0% vs. H1 2020 and +5.7% vs. H1 2019
- EBITDA: €1,601 million, with organic growth of +38.1% vs. H1 2020 and +11.2% vs H1 2019
- EBIT: €798 million, +€722 million vs H1 2020, +€153 million vs H1 2019
- Recurring EPS: €0.48
- Recurring free cash flow: €484 million
Robust operational execution:
- Continued strong sales momentum, with €1.8 billion in new contracts in the first half both in France and internationally
Municipal Water activities still resilient, strong rebound in Recycling & Recovery (particularly in France) and Environmental Tech & Solutions (especially SES and WTS)
Operating profitability strengthened by accelerated growth and by the €148 million in performance savings over the period
Net debt down sharply to €8,625 million, supported by solid cash generation and the impact of more than €1 billion from disposals
Debt ratio reduced to 2.7 times EBITDA over a rolling 12-month period
European taxonomy: 74% of consolidated 2020 revenues, and 90% identified by European regulations as contributing to the protection of the environment and the fight against global warming.
Both the work to create the new SUEZ and the work in relation to Veolia’s takeover bid continue to progress toward the achievement of the end-2021 target date for completing the transaction.
The SUEZ Board of Directors examined and authorized the publication of the condensed consolidated financial statements at 30 June 2021 at its meeting on 28 July 2021. They have been subject to a usual limited review by the statutory auditors.
Bertrand Camus, CEO of SUEZ, commented:
I am extremely proud of the results of our SUEZ 2030 plan, initiated only two years ago. In an environment made more complex by the pandemic and by Veolia’s takeover bid, SUEZ’s transformation has quickly borne fruit and the results have accelerated in the first half of 2021. Our performance is improving very strongly on all levels, showing a clear acceleration compared to 2019 and a strong rebound relative to 2020. The Group therefore confirms all of its objectives for 2021.
These excellent results were only possible as a result of the dedication and determination of our teams, and I thank them for their unwavering commitment.
In addition to development and performance objectives, my roadmap is focusing on the implementation of the agreement with Veolia, with a particular emphasis on human resources.
This agreement will give rise to a new SUEZ: one that is both agile and robust, with a strong French base and significant resources to fuel international growth. Driven by our culture of innovation, our Group will continue to contribute to the preservation and restoration of the environment.