The French parent company of UK waste firm Suez has published its financial report for the third quarter of 2016, reporting a rise in the volume of waste it has handled for recycling and energy recovery across Europe.
The volume of waste handled by the company rose by 0.5% in Europe, Suez reported, which has been attributed to additional tonnage in France and “the first-time contribution of the three waste-to-energy units that came into operation in the United Kingdom.”
This refers to Suez UK’s Energy from Waste (EfW) plants in Severnside (Bristol), Cornwall and Teesside which have contributed to the treated tonnage in the third quarter.
The report adds that in France and the UK, “the decrease in landfilled volumes was more than offset by growth in recycled volumes.”
However, revenue in the Recycling & Recovery Europe segment was adversely affected by a drop in prices for secondary raw materials (mainly metals, which are down 20% year on year) and for energy, the company reported.
The Suez Recycling & Recovery Europe division reported revenue of €4,671 million (£4,167 million), flat on an organic basis at 0.1% (+€6m).
By geographic region, the organic change was +5.7% in the United Kingdom and Scandinavia, +3.1% in Central Europe, +0.7% in the Benelux and Germany region, and -2.5% in France.
In Europe, excluding France where revenue came in at €3,753 million, Spain led the way with €1,310 million. Suez UK reported a revenue of €826 million.
In total, Suez generated revenue of €11,225m at September 30, 2016 – a gross increase of 1.2% (+€132m) compared with September 30, 2015 (Water Europe, Recycling & Recovery Europe and International).
Commenting on the third-quarter 2016 results, Jean-Louis Chaussade, chief executive at the Suez Group, said: “Business growth remains sound, despite the persistently lacklustre macroeconomic environment in France. It continues to be fueled by our performance outside Europe.
“The improvement in operational profitability in the third quarter puts us on track to meet our 2016 targets. In particular, it reflects the additional efforts we decided in order to offset the unfavorable weather conditions during the first half of the year.
“During the summer, we also continued to implement the transformation plan to make the group more efficient, more agile, more transverse in order to meet the environmental and climate challenges. As soon as 2017, this plan will generate 40 million euros of savings on a full-year basis. ”
Article published on www.letsrecycle.com on 27th October 2016.