“Shaping SUEZ 2030”計(jì)劃 全面推動(dòng)蘇伊士成為環(huán)境服務(wù)行業(yè)全球領(lǐng)導(dǎo)者
蘇伊士集團(tuán)宣布“Shaping SUEZ 2030”計(jì)劃,旨在通過(guò)這項(xiàng)全面的戰(zhàn)略計(jì)劃為集團(tuán)作出定位,以把握當(dāng)前的機(jī)遇和應(yīng)對(duì)未來(lái)十年的挑戰(zhàn)。該計(jì)劃將在四年內(nèi)進(jìn)一步為各利益相關(guān)者創(chuàng)造價(jià)值,盡早在2021年取得實(shí)質(zhì)性成果,并對(duì)蘇伊士集團(tuán)作出戰(zhàn)略定位——環(huán)境服務(wù)行業(yè)全球領(lǐng)導(dǎo)者。
蘇伊士將加速轉(zhuǎn)型,是基于與集團(tuán)業(yè)務(wù)密切相關(guān)的主要行業(yè)的發(fā)展趨勢(shì),包括循環(huán)經(jīng)濟(jì)的可持續(xù)增長(zhǎng)及其對(duì)客戶的影響,新業(yè)務(wù)模式和新競(jìng)爭(zhēng)對(duì)手的出現(xiàn),以及社會(huì)各界對(duì)氣候危機(jī)在觀念上的深刻轉(zhuǎn)變和采取具體行動(dòng)的需要。
這項(xiàng)新計(jì)劃有助于集團(tuán)充分利用自身的核心優(yōu)勢(shì)——創(chuàng)新、一流的技術(shù)和專業(yè)知識(shí)、卓越的團(tuán)隊(duì)和良好的聲譽(yù)。它也是推動(dòng)集團(tuán)選擇性增長(zhǎng)、簡(jiǎn)化工作模式,進(jìn)一步展現(xiàn)員工對(duì)環(huán)境的熱愛(ài)的最佳方式。
“Shaping SUEZ 2030”計(jì)劃,將在以下方面加速發(fā)展,為所有利益相關(guān)者增加價(jià)值:
- 選擇性的有機(jī)增長(zhǎng),包括規(guī)范管理資本性支出、對(duì)15%-20%資本組合進(jìn)行輪換;
- 簡(jiǎn)化架構(gòu),于2023年前通過(guò)推行10億歐元的績(jī)效計(jì)劃,將部分提高運(yùn)營(yíng)盈利能力,并加強(qiáng)在創(chuàng)新和數(shù)字化方面的投入;
- 讓客戶和員工共同參與,以全新的價(jià)值觀迎接變革、發(fā)揮蘇伊士的共贏精神。
這項(xiàng)計(jì)劃在中期將對(duì)集團(tuán)各個(gè)層面進(jìn)行全面改革:我們?cè)谖磥?lái)四年的目標(biāo)是將新的價(jià)值和文化融合到集團(tuán)各個(gè)層面,以較低資本為持續(xù)、有機(jī)的增長(zhǎng)奠定基礎(chǔ),改變業(yè)務(wù)組合,并將我們的資本回報(bào)率至少提高兩個(gè)百分點(diǎn),從而提高以正常派息比率增加股息的能力。
到2021年集團(tuán)將呈現(xiàn)明顯變化,該年的財(cái)務(wù)指標(biāo)反映集團(tuán)的重點(diǎn)在盈利能力及其可持續(xù)性上:
2021 指標(biāo):
• 經(jīng)常性每股收益0.8 歐元
• 經(jīng)常性自由現(xiàn)金流5億歐元
• 凈負(fù)債 / 未計(jì)息稅、折舊及攤銷前利潤(rùn) 2.8 - 3.0倍
蘇伊士集團(tuán)首席執(zhí)行官康宇:
“藉著‘Shaping SUEZ 2030’計(jì)劃,我們矢志成為環(huán)境服務(wù)行業(yè)全球領(lǐng)導(dǎo)者,讓蘇伊士成為客戶、員工和利益相關(guān)者的首選,共同努力恢復(fù)和保護(hù)自然環(huán)境要素:水、空氣和土壤。
憑借蘇伊士悠久的聲譽(yù)、一流的技術(shù),及對(duì)可持續(xù)發(fā)展的專業(yè)知識(shí),我們將重新定位集團(tuán)的戰(zhàn)略, 以配合市場(chǎng)的變化及因應(yīng)當(dāng)下環(huán)境的需求而作出貢獻(xiàn),務(wù)求盡早在2021年前提升我們創(chuàng)造的價(jià)值。為了使這項(xiàng)戰(zhàn)略計(jì)劃全面落實(shí), 我們必須作出選擇性增長(zhǎng)、簡(jiǎn)化工作模式及對(duì)公司文化進(jìn)行變革。
我們?cè)谒畡?wù)、固廢資源管理以及環(huán)境技術(shù)與方案三個(gè)不同的業(yè)務(wù)范疇都看到機(jī)遇:我們將擴(kuò)大與工業(yè)客戶的合作、投放更多資源在以技術(shù)和數(shù)字化環(huán)境解決方案為基礎(chǔ)的業(yè)務(wù)上, 使我們?cè)趪?guó)際市場(chǎng)上繼續(xù)增長(zhǎng)。與此同時(shí), 我們將繼續(xù)以歐洲作為我們創(chuàng)新和可持續(xù)發(fā)展的強(qiáng)大后盾。
上述這些行動(dòng)現(xiàn)已啟動(dòng), 它將帶領(lǐng)我們踏上通往2023年的四年之旅, 以落實(shí)集團(tuán)在各個(gè)方面的變革。我們承諾在2021年前集團(tuán)會(huì)呈現(xiàn)出明顯變化。
蘇伊士所有員工及董事會(huì)成員的全力支持和參與,促使我們制定這項(xiàng)雄心勃勃、穩(wěn)健且令人振奮的計(jì)劃。現(xiàn)時(shí), 此計(jì)劃已落實(shí)執(zhí)行。
而蘇伊士2030計(jì)劃的成功,則有賴調(diào)動(dòng)我們所有員工的努力及專業(yè)技能,以更好地為我們的客戶和合作伙伴提供服務(wù)。我們?nèi)碌膬r(jià)值觀(對(duì)環(huán)境的熱愛(ài)、以客戶為先、互相尊重及團(tuán)隊(duì)的合作精神),與蘇伊士的文化(發(fā)揮共贏精神)相結(jié)合,將支持集團(tuán)深層變革、落實(shí)戰(zhàn)略計(jì)劃的推行。”
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“Shaping SUEZ 2030”將涵蓋集團(tuán)三個(gè)業(yè)務(wù)范疇:
• 水務(wù) (約占2018年銷售總額的40%) 重新整合蘇伊士全球所有的市政水務(wù)業(yè)務(wù);
• 固廢資源管理 (約占2018年銷售總額的40%) 重新整合蘇伊士集團(tuán)所有工商業(yè)客戶的非危險(xiǎn)廢棄物處理及市政固廢資源管理業(yè)務(wù);
• 環(huán)境技術(shù)與方案 (約占2018年銷售總額的20%) 重新整合水務(wù)技術(shù)與方案、危險(xiǎn)廢棄物處理和特殊的環(huán)境解決方案,服務(wù)工業(yè)及市政客戶。
該計(jì)劃主要方針:
選擇性:引導(dǎo)選擇性增長(zhǎng)。集團(tuán)計(jì)劃利用歐洲強(qiáng)大的創(chuàng)新能力,并為集團(tuán)所有部門確定下列優(yōu)先事項(xiàng),以贏得最佳機(jī)遇、實(shí)現(xiàn)加速發(fā)展:
• 國(guó)際市場(chǎng):集團(tuán)瞄準(zhǔn)個(gè)別國(guó)家的增長(zhǎng),將部署其全部?jī)r(jià)值主張并進(jìn)一步擴(kuò)展到創(chuàng)新服務(wù)領(lǐng)域。此外,計(jì)劃進(jìn)入環(huán)境基礎(chǔ)設(shè)施需求快速增長(zhǎng)的特定市場(chǎng),目標(biāo)是達(dá)到集團(tuán)收入的60%。
• 工業(yè)客戶:集團(tuán)在5個(gè)主要的高增長(zhǎng)市場(chǎng)上加速發(fā)展,并利用其獨(dú)特的解決方案組合以最高的增值來(lái)優(yōu)先開(kāi)展活動(dòng)。與工業(yè)客戶攜手合作,設(shè)計(jì)定制的綜合解決方案,以幫助他們實(shí)現(xiàn)可持續(xù)發(fā)展路線圖,目標(biāo)是達(dá)到集團(tuán)收入的50%以上。
• 技術(shù)和數(shù)據(jù)驅(qū)動(dòng)的解決方案:集團(tuán)利用專有技術(shù)和創(chuàng)新來(lái)開(kāi)發(fā)和推出全球先進(jìn)的解決方案,還將建立新的高潛力輕資產(chǎn)業(yè)務(wù),例如空氣質(zhì)量管理和智能農(nóng)業(yè),目標(biāo)是超過(guò)集團(tuán)收入的30%。
集團(tuán)的資本分配將不斷變化,以反映以下優(yōu)先事項(xiàng):
• 優(yōu)先考慮價(jià)值而非數(shù)量,并以投資的本質(zhì)為根本
• 使業(yè)務(wù)組合符合創(chuàng)造價(jià)值的抱負(fù): 占資本15%-20%的業(yè)務(wù)已被列入資產(chǎn)轉(zhuǎn)換計(jì)劃
簡(jiǎn)化架構(gòu):致力于簡(jiǎn)化工作模式,將改善集團(tuán)運(yùn)營(yíng)績(jī)效,包括促進(jìn)創(chuàng)新和數(shù)字化以推動(dòng)未來(lái)的增長(zhǎng)
• 建立一個(gè)更精簡(jiǎn)、更高效的組織,包括減少業(yè)務(wù)部門數(shù)量及下放決策權(quán),為我們的客戶提供最好的服務(wù)
• 優(yōu)化和規(guī)范工業(yè)流程,加速采購(gòu)和外部資源的轉(zhuǎn)型并理順間接成本,尤其是銷售及行政開(kāi)支
• 推行上述措施的目的是于2023年前履行10億歐元的年度減省,其中35%至45%將有助蘇伊士的盈利,現(xiàn)時(shí)可預(yù)見(jiàn)于2021年可實(shí)現(xiàn)約45%至50%
客戶和員工共同參與——迎接變革并發(fā)揮蘇伊士共贏精神
• 圍繞4個(gè)新價(jià)值觀推動(dòng)參與:對(duì)環(huán)境的熱愛(ài),以客戶為先,互相尊重,團(tuán)隊(duì)的合作精神
• 提升整個(gè)組織的人才,領(lǐng)導(dǎo)力和技能
• 以獨(dú)特的能力在新興市場(chǎng)建立新的“卓越中心”
• 增強(qiáng)責(zé)任心以加快執(zhí)行和提升績(jī)效
• 管理團(tuán)隊(duì)的激勵(lì)機(jī)制將與財(cái)務(wù)目標(biāo)保持一致
指標(biāo)和前瞻性信息:
2021年指標(biāo):
• 經(jīng)常性每股收益0.8歐元
• 經(jīng)常性自由現(xiàn)金流5億歐元
• 凈負(fù)債/未計(jì)息稅、折舊及攤銷前利潤(rùn)2.8-3.0倍
額外財(cái)務(wù)元素(包括一次性):
2019年: |
一次性支付1.5-2.0億歐元以抵消阿根廷的和解,主要是非現(xiàn)金 |
未來(lái): |
一次性支出總計(jì)為5-7億歐元,大部分將在2020年完成 |
新的報(bào)告部分最遲于2020年1月1日生效,并將與原來(lái)的框架進(jìn)行對(duì)帳。
注:關(guān)于在此前報(bào)告框架下為2019年設(shè)定的目標(biāo),排除對(duì)今天宣布的計(jì)劃產(chǎn)生的任何影響,集團(tuán)確認(rèn)以下目標(biāo):
- 有機(jī)收入增長(zhǎng)2%至3%
- 有機(jī)未計(jì)利息、稅項(xiàng)前盈利增長(zhǎng)4%至5%
- 自由現(xiàn)金流增長(zhǎng)約7%至8%
- 2019年的杠桿比率(凈負(fù)債/ 未計(jì)息稅、折舊及攤銷前利潤(rùn))為約3倍
- 決心于2020年繼續(xù)降低債務(wù)比率
在此基礎(chǔ)上,根據(jù)董事會(huì)規(guī)定,本集團(tuán)擬在2020年5月的年度股東大會(huì)上建議2019年的股息為每股0.65歐元。
提升對(duì)2030年的可持續(xù)發(fā)展承諾:
• 與2050年+ 1.5°C路徑/碳中和相一致,將溫室氣體排放量減少45%(此前為30%)
• 100%可持續(xù)解決方案
• 每年為我們的客戶減少約2,000萬(wàn)噸的二氧化碳排放量。
附錄:替代績(jī)效指標(biāo)
經(jīng)常性每股收益(每股收益):
(凈收入組合份額 –(混合息票+所有一次性費(fèi)用現(xiàn)金和非現(xiàn)金+/-資本收益/變賣虧損)x(1-適用稅率))/股份數(shù)量。
相比之下,2018年經(jīng)常性每股收益估計(jì)為0.56歐元。
經(jīng)常性自由現(xiàn)金流:
經(jīng)營(yíng)活動(dòng)產(chǎn)生的現(xiàn)金流量–混合息票+重組(現(xiàn)金費(fèi)用)–物業(yè),設(shè)備–無(wú)形資本支出–租賃費(fèi)用–凈財(cái)務(wù)費(fèi)用–包括從少數(shù)股東流入/流出的股息在內(nèi)的流量
相比之下,2018年的經(jīng)常性自由現(xiàn)金流估計(jì)為9,500萬(wàn)歐元。
ROCE(已動(dòng)用資本回報(bào)率):
((未計(jì)利息、稅項(xiàng)前盈利-股權(quán)會(huì)計(jì)公司凈收入中的份額)x(1-規(guī)范稅率))/(在當(dāng)年年底之前和當(dāng)年年底使用的資本的簡(jiǎn)單平均值,包括國(guó)際財(cái)務(wù)報(bào)告準(zhǔn)則第16號(hào))
相比之下,2018年的已動(dòng)用資本回報(bào)率估計(jì)為4.9%。
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蘇伊士于2019年10月2日在巴黎舉行的投資者會(huì)議上發(fā)表了“Shaping SUEZ 2030”計(jì)劃。 會(huì)議從歐洲中部時(shí)間10:00(英國(guó)夏令時(shí)間09:00)開(kāi)始進(jìn)行網(wǎng)絡(luò)直播,并可在蘇伊士網(wǎng)站上取得有關(guān)文件。
財(cái)務(wù)日歷
§ 2019年10月30日:發(fā)布2019年前九個(gè)月的營(yíng)業(yè)收入(電話會(huì)議)
聲明
蘇伊士
蘇伊士作為資源智慧化和可持續(xù)管理的全球領(lǐng)導(dǎo)者,旗下9萬(wàn)名員工遍布世界五大洲。我們提供的水務(wù)和固廢管理解決方案,能讓各大城市和工業(yè)優(yōu)化其對(duì)資源的管理,提升其環(huán)境和經(jīng)濟(jì)績(jī)效并符合監(jiān)管標(biāo)準(zhǔn)。為了滿足日益增長(zhǎng)的需求,克服資源質(zhì)量和短缺的挑戰(zhàn),蘇伊士全力投身資源變革。集團(tuán)充分利用數(shù)字化技術(shù)和創(chuàng)新的解決方案,每年處理逾4,500萬(wàn)噸的廢棄物, 生產(chǎn)440萬(wàn)噸再生原料和7.7太瓦時(shí)的再生能源;在水資源保護(hù)方面,集團(tuán)向6,600萬(wàn)人提供污水處理服務(wù),回用污水11億立方米。蘇伊士于2018年的總收益達(dá)173億歐元。
蘇伊士亞洲
蘇伊士在早于60年前就已為東南亞提供水務(wù)及固廢資源管理服務(wù),繼而擴(kuò)展至中國(guó)的發(fā)展也逾40年。集團(tuán)與各地的合作項(xiàng)目逾70個(gè),旗下逾9,000名員工不斷努力為當(dāng)?shù)卣畽C(jī)構(gòu)、工商企業(yè)客戶提供創(chuàng)新的、合適的解決方案,以應(yīng)對(duì)氣候變化和確保資源的可持續(xù)管理。水務(wù)方面,在亞洲建立了460多座水處理廠和污水處理廠并為2,000萬(wàn)人口提供飲用水服務(wù),在澳門運(yùn)營(yíng)著中國(guó)水務(wù)行業(yè)的第一個(gè)PPP項(xiàng)目以及在重慶負(fù)責(zé)中國(guó)內(nèi)地第一個(gè)供水專營(yíng)合同;固廢方面,集團(tuán)是香港固廢處理的領(lǐng)導(dǎo)企業(yè);工業(yè)服務(wù)方面,集團(tuán)為中國(guó)13個(gè)工園區(qū)提供專業(yè)環(huán)境管理服務(wù)。
SHAPING SUEZ 2030
A COMPREHENSIVE PLAN
TO BECOME THE GLOBAL LEADER IN ENVIRONMENTAL SERVICES
SUEZ announces today “Shaping SUEZ 2030”, a comprehensive strategic plan to position the Group - now - for the opportunities and the challenges of the next decade. The plan enhances value creation for all stakeholders over 4 years with material results as soon as 2021. The plan positions SUEZ as the global leader in environmental services.
Given the key trends in our business - the continued growth of the circular economy and its impact on our customers, the emergence of new business models and new competitors, combined with a profound shift of the mindset of citizens towards the climate crisis and a need for concrete action
- SUEZ will accelerate its transformation.
With this new plan, the Group leverages its core strengths – innovation, best in class technologies and know-how, exceptional teams and an excellent reputation. The plan drives selectivity in growth, simplicity in its way of working and a renewed engagement grounded on a passion for the environment.
“Shaping SUEZ 2030” will increase value for all stakeholders by accelerating:
- Selectivity in organic growth, comprising capex discipline and also portfolio rotation for which businesses have been identified accounting for 15-20% of our capital employed
- Simplicity with a leaner organization, underpinned by a €1bn efficiency plan by 2023 which will in part improve operating profitability as well as finance a step-up in investment in innovation and digitization
- Engagement with our customers and from our employees, embracing change and reviving our winning spirit with a refreshed core of values
The plan will transform the Group at all levels in the mid-term: our ambition for the four years to 2023 is to embed our new values and culture firmly across the Group, set the scene for sustained organic growth with lower capital intensity, change our business portfolio and improve our returns on capital employed by at least two points, enhancing our capacity to increase our dividend at a normal payout ratio.
Change will be evident already by 2021 and the Group’s financial objectives for that year reflect our intention to focus going forward on profitability and sustainability:
Bertrand Camus, SUEZ CEO, commented:
“With Shaping SUEZ 2030, our ambition is to be the global leader in environmental services, making us the preferred choice of our customers, employees and stakeholders, working together to restore and preserve the fundamental elements of the environment: water, air and soil.
Building on SUEZ’s long-standing reputation, best-in-class technologies, expertise in sustainability, we will reposition the Group’s strategy. We will embrace changes in our markets and contribute here and now to environmental needs, while driving improvements in the value we create as soon as 2021. Our comprehensive plan calls for selectivity in growth, simplicity in our way of working and an evolution in the company’s culture.
We see opportunities across each of our three business segments (Water, Recycling & Recovery and Environmental Technologies & Solutions): we will grow in International markets, do more with Industrial customers and win business based on technology and data-driven environmental solutions, with Europe remaining at the heart of our innovation and sustainability.
Taken together, the set of actions we have started to execute take us on a 4-year journey to 2023, during which we will transform the group in every respect. We commit to show visible progress already in 2021.
The engagement and full support of all the teams at Suez and the Board of Directors has enabled us to build an ambitious, robust and exciting plan – we have now started to execute.
The success of SUEZ 2030 will be based on mobilizing the energy and expertise of all our committed employees - to better serve our customers and partners. Our new values - passion for the environment, customer first, respect, team spirit - combined with a culture which revives our winning-spirit, will all support the deep transformation which underpins our strategic plan.”
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1 2021 guidance assumes no material change in economic and market conditions (incl. interest rates, forex and commodity prices) vs. those observed over the past 12 months. Please, see definition of alternative performance indicators in appendix. 2 Debt including IFRS 16.
“Shaping SUEZ 2030” will be implemented across the Group’s three business segments:
· Water (c. 40% of 2018 sales) regroups all SUEZ municipal water activities globally,
· Recycling & Recovery (c. 40% of 2018 sales) regroups all SUEZ waste activities related to non-hazardous waste with municipal as well as with Industrial & Commercial customers,
· Environmental Tech & Solutions (c.20% of 2018 sales) regroups WTS, hazardous waste and speciality environmental solutions for industrial and municipal customers.
The main drivers of the plan are:
Selectivity - Steering selectivity in growth, the Group intends to leverage its strong European innovation capabilities and accelerate where it has identified the best opportunities on the following priorities for all parts of the Group:
· International markets: The Group targets growth in selected countries where it will deploy its full-value proposition and further expand into innovative services. In addition, it plans to enter selected markets with fast-growing environmental infrastructure needs, with the ambition to reach 60% of Group revenue.
· Industrial customers: The Group accelerates on 5 key high-growth markets and prioritizes activities with the highest value-add leveraging its distinctive portfolio of solutions. Working hand-in-hand with its industrial customers, it will design custom made, integrated solutions to help them achieve their sustainability roadmap, with the ambition to be above 50% of Group revenue.
· Technology and data-driven solutions: The Group leverages proprietary technologies and innovation to develop and roll-out globally advanced solutions. It will also build new high-potential asset-light businesses such as air quality management and smart agriculture, with the ambition to exceed 30% of Group revenue.
The Group’s capital allocation will evolve, to reflect these priorities:
· Prioritize value over volume with a strong change of direction in nature of spending
· Align business portfolio with value creation ambitions: businesses representing 15-20% of capital employed have been identified as part of asset rotation program
Simplicity - Promoting simplicity in its way of working, SUEZ will improve its operational performance, in part to boost innovation and digitization to fuel future growth
· Roll out a leaner and more efficient organization, with reduced number of business units and a devolved decision-making process to best serve our customers
· Optimize and standardize industrial processes, accelerate transformation in procurement and external resources, rationalize indirect costs, notably SG&A
· The objective of the above measures is to deliver €1bn of annual savings by 2023 of which 35 to 45% are expected to benefit SUEZ’s profitability with around 45 to 50% of this annual saving already evident in 2021
Engagement with our customers and from employees - Embrace change and renew the SUEZ winning spirit
· Foster engagement around 4 new values: passion for the environment, customer first, respect, team spirit
· Upgrade talents, leadership and skills across the organization
· Promote new Centers of Excellence in emerging markets with distinctive capabilities
· Accelerate execution and performance, thanks to increased accountability
· Management team’s incentives will be realigned with financial objectives
Guidance and forward looking information:
2021 guidance3:
· €0.8 recurring EPS
· €500 million recurring Free Cash Flow
· Net Debt4 at 2.8 to 3.0x EBITDA
Additional financial elements, including one-offs:
2019: €150-200m one-offs offsetting Argentine settlement, largely non-cash Future: €500-700m total one-off charges, majority to be accounted for in 2020
The new reporting segments will take effect at the latest on 1 January 2020 and a reconciliation will be given with the prior framework.
Note: Concerning targets previously given for 2019, under its current reporting framework and excluding any impact of the plan announced today, the Group confirms these targets5:
- Organic revenue growth of 2% to 3%
- Organic EBIT growth of 4% to 5%
- FCF growth of around 7% to 8%
- Leverage ratio (Net debt/EBITDA) of c.3x in 20196
- Continued ambition to lower debt ratio in 2020
On this basis, and in accordance with the Board of Directors, the Group intends to propose a dividend of €0.65 per share in respect of 2019 at the Annual General Meeting in May 2020.
Upgraded sustainable development commitment for 2030:
· Reduce GHG emissions by 45% (vs. 30% previously), in line with +1.5°C trajectory/carbon neutrality in 2050
· 100% sustainable solutions
· c.20 million tons of CO2 emissions saved, yearly, for our customers.
3 2021 guidance assumes no material change in economic and market conditions (incl. interest rates, forex and commodity prices) vs. those observed over the past 12 months. Please, see definition of alternative performance indicators in appendix. 4 Debt including IFRS 16.
5 2019 guidance assumes water volumes sold remain in line with historic trends, volumes of waste treated rise by +1.5% in Europe and raw materials prices are stable relative to December 31, 2018.
6 Excluding impact of application of IFRS 16 accounting standard
Appendix: Alternative performance indicators
Recurring EPS (Earning per share):
(net income group share – (hybrid coupon + all one-off costs cash and non-cash +/- capital gain/losses on disposals) x (1 - applicable tax rate))/ number of shares.
By way of comparison, the 2018 recurring EPS is estimated at €0.56.
Recurring Free Cash Flow:
Cash Flow from operating activities – hybrid coupon + restructuring (cash expenses) – property plant, equipment – intangible capex – lease expenses – net financial charges – flows including dividends to/from minorities
By way of comparison, the 2018 recurring Free Cash Flow is estimated at €95m.
ROCE (Return on capital employed):
((EBIT - Share in net income of equity-accounted companies) x (1 – normative tax rate) / (Simple average of the capital employed at the end of the year before and at the end of the current year including, incl. IFRS 16)
By way of comparison, the 2018 ROCE is estimated at 4.9%.
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SUEZ presents Shaping SUEZ 2030 on 2 October 2019 at an investor meeting in Paris. The meeting, which starts at 10.00 CET (9.00BST) will be webcasted live and supporting documents made available on SUEZ website.
FINANCIAL CALENDAR:
§ October 30, 2019: Publication of nine-month revenue 2019 (conference call)
Disclaimer
This press release contains unaudited financial data. Unless specified, the aggregates presented are those normally used and communicated on markets by SUEZ.
This press release contains estimates and/or forward-looking statements and information. These statements include financial projections, synergies, estimates and their underlying assumptions, statements regarding plans, expectations and objectives with respect to future operations, products and services, and statements regarding future performance. Such statements do not constitute forecasts regarding SUEZ’s results or any other performance indicator, but rather trends or targets, as the case may be. No guarantee can be given as to the achievement of such forward-looking statements and information. Investors and holders of SUEZ securities are cautioned that forward-looking information and statements are subject to various risks and uncertainties, which
are difficult to predict and generally beyond the control of SUEZ, and that such risks and uncertainties may entail results and developments that differ materially from those stated or implied in forward-looking information and statements. These risks and uncertainties include, but are not limited to, those discussed or identified in the public documents filed with the Autorité des Marchés Financiers (AMF), the French Financial Markets Authority. Investors and holders of SUEZ securities should consider that the occurrence of some or all of these risks may have a material adverse effect on SUEZ. SUEZ is under no obligation and does not undertake to provide updates of these forward-looking statements and information to reflect events that occur or circumstances that arise after the date of this document. More comprehensive information about SUEZ may be obtained on its Internet website (www.suez.com). This document does not constitute an offer to sell, or a solicitation of an offer to buy SUEZ securities in any jurisdiction.
About SUEZ
With 90 000 people on the five continents, SUEZ is a world leader in smart and sustainable resource management. We provide water and waste management solutions that enable cities and industries optimize their resource management and strengthen their environmental and economic performances, in line with regulatory standards. To meet increasing demands to overcome resource quality and scarcity challenges, SUEZ is fully engaged in the resource revolution. With the full potential of digital technologies and innovative solutions, the Group treats over 45 million tons of waste a year, produces 4.4 million tons of secondary raw materials and 7.7 TWh of local renewable energy. It also secures water resources, delivering wastewater treatment services to 66 million people and reusing 1.1 billion m3 of wastewater. SUEZ generated total revenues of 17.3 billion euros in 2018.