Suez buoyed by strong International division

Suez has reported organic revenue growth of 1.1 per cent for the year ended December 2016, driven by a 4.7 per cent rise at its International division.

Within International, Asia grew revenue by 20.5 per cent, helped by industrial waste projects in Hong Kong, and new equipment contracts in China. Africa, Middle East and India revenue rose by 13.1 per cent, reflecting particularly construction contracts in Doha West, Qatar, and Barka, Oman. Australia revenue was up 2.9 per cent; North America was stable, at 0.2 per cent; and Europe and Latin America fell 8.4 per cent, owing partly to termination of construction contracts in Europe.

Earnings before interest and tax (Ebit) at the division increased by 5.5 per cent to €496 million ($524 million), on an organic basis, “reflecting the division’s strong business momentum,” the company said. Divisional revenue was €4,217 million.

Meanwhile, at the Water Europe division, Ebit was €611 million, on revenue that decreased 1.3 percent to €4,703 million. At Recycling & Recovery, Ebit was €310 million, on revenue up 0.6 per cent to €6,302 million.

Group Ebit was €1,282 million, on revenue of €15,322 million.

In the outlook for 2017, Suez said it is targeting “slight organic growth in revenue and Ebit,” on the basis of “an ambitious transformation plan.”