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Research Tree provides access to ongoing research coverage, media content and regulatory news on SUEZ ENVIRONNEMENT CO. We currently have 7 research reports from 1 professional analysts.
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SUEZ ENVIRONNEMENT CO
SUEZ ENVIRONNEMENT CO
H1 16: not great but Q2 is reassuring
28 Jul 16
Suez released H1 16 results. Revenues reached €7,455m (+2.2%, +2.7% lfl at CER), EBITDA €1,271m (-1.7%), EBIT €598m (-1%) and net income €174m (+23.7%). Net income increased over-propotionately with lower minority interests (buy-out of the Sembista minorities in Australia in H2 15). Net debt at the end of H1 was €8,765m (vs €8,363m in Q1 and €8,083m at year-end 2015) after the payment of the €545m dividend. The forex impact (top-line) was €-116m in H1 (€-43m in Q1).
Q1 16: a bit weak...
28 Apr 16
Suez Q1 16 results: revenues reached €3,555m (+0.5%), EBITDA €574m (-3.9%), EBIT €253m (-4.6%). Net debt at the end of Q1 16 was €8,363m (vs €8,083m in Q4 15). The group reiterated its targets for FY16, i.e. an organic growth in revenue of at least 2%, an over-proportionate growth in organic EBIT and a free cash flow of c. €1bn.
FY15 results unsurprising, no revolution going forward
24 Feb 16
Suez released FY15 results. Sales reached €15,135m (+5.7%), EBITDA €2,751m (+4.1%), EBIT €1,381m (+10.1%), net income €408m (-2%). Free cash flow reached €1,047m and net debt at year-end €8,083m. The dividend proposed is €0.65. The group’s targets are reiterated (organic growth of at least 2% in FY16, EBIT growth higher than top-line growth, FCF of c.€1bn and net debt/EBITDA of c.3x). Longer term, the group targets a €3bn EBITDA level in FY17.
Q3 15: in line; more needed for a real take-off
29 Oct 15
Suez released 9m results. These show revenues of €11,093m (+5.7% and +2.5% lfl at CER), EBITDA of €1,952m (+6.3% reported, +1.7% lfl at CER), and EBIT of €909m (+5% reported and +3.5% lfl at CER). Net debt at the end of Q3 stood at €7,918m (vs €8,024m after H1). The group reiterated its targets for FY15, i.e. revenue organic growth of at least 3%, positive EBITDA organic growth, EBIT organic growth of at least 4%, and a net financial debt/EBITDA ratio of c.3x.
H1 15 results: no real surprise
29 Jul 15
In H1 15, revenue was up +5.9% to €7,295m (+1.9% lfl at CER), EBITDA up +8% to €1,293m (+2%), and EBIT up +14.2% to €604m (+3.7%). The group has mainly benefited from forex and a (small) change in scope impact (+0.6% at the top-line level). Note profitability changes were adjusted for the capital gain on CEM in 2014 (€129m, accounted for at the EBITDA level). Net debt at the end of H1 was €8,024m, up from €7.7bn at the end of Q1 due to the dividend payment and forex.
Panmure Morning Note 30-11-2016
30 Nov 16
RPC, the international plastics products design and engineering group, has delivered yet another strong set of results (1H17 EBITDA +65%, EPS +45%). At the interim stage PBT was +66% (materially better than we had forecast). Topline growth has principally being driven by acquisitions (GCS + BPI), though organic remains a feature (and crucially remains at levels consistent with FY16). The two recent acquisitions have quickly been assimilated into the panEuropean platform and management has raised cost synergy guidance (again).
N+1 Singer - Morning Song 30-11-2016
30 Nov 16
Sanderson has delivered full year results in line with expectations and the 19 October trading update after a strong finish to the year compensated for a slower start. A healthy level of pre-contracted recurring revenue (50%), incremental sales to existing customers and new customer wins at higher average order values helped deliver solid revenue growth in both the Digital Retail (+9%) and Enterprise (+12%) divisions. A decent order book and good sales momentum suggest that the company is on track to deliver on unchanged profit expectations for the current year. We continue to view the valuation (FY17 EV/EBITDA 8.6x) as undemanding given an attractive combination of accelerating growth potential, strong cash generation and growing dividends.
Panmure Morning Note 02-12-16
02 Dec 16
Today James Halstead will be holding its 101st AGM. Trading during the first part of FY17 has been mixed, with some notable challenges. However, movements in FX (i.e. weak sterling) is boosting reported earnings, offsetting UK volume trends and pricing pressures. Whilst earnings are likely to be second half weighted, the picture is in-line with expectations and we are leaving our FY17 PBT estimates unchanged (£47.4m in FY17 vs £45.4m FY16).
06 Dec 16
600 Group* (SIXH): Interim results: order book showing signs of improvement (CORP) | Real Good Food* (RGD): Commodity volatility impacts numbers (CORP) | Minds + Machines* (MMX): .vip goes live in China (CORP | Imaginatik* (IMTK): Interims (CORP) | iomart* (IOM): Quality business as usual (CORP) | Fulcrum (FCRM): Upgrades continue (BUY)
02 Dec 16
On 30 September 2016, when the company announced its full year results, it reported that the UK business had seen a slow start to the year, with particular weakness in repair and renewal spending by the NHS as well as “reticence” in the education sector. However, with the UK only representing about a third of the business, this weakness was expected to be more than offset by the positive effect of a weakened sterling on its overseas business, given the benefits for competitiveness and margins.