Séché Environnement: First-quarter 2022 Revenue up Sharply: +21.3%
Sustained organic growth: +
Solid markets in
Strong international growth: +
2022 business targets confirmed
CHANGÉ,
The first quarter of 2022 confirmed Séché Environnement's (Paris:SCHP) good level of activity in all of its business lines and in all regions where the Group operates.
In
This good start to the year confirms the Group's expectations for 2022.
As of
At constant scope and exchange rates, contributed revenue rose sharply (+
Over the period,
Internationally (revenue up
Séché is confident that it will achieve its growth targets for 2022.
Commentary on business in the first quarter of 2022
As of
Contributed revenue stood at
At constant scope and exchange rates, contributed revenue stood at
Breakdown by geographic scope
Consolidated data in €m
As of |
2021 |
2022 |
Gross change |
Organic change |
|
129.8 |
145.2 |
+ |
+ |
o/w scope effect |
- |
6.6 |
|
|
International subsidiaries |
42.6 |
63.8 |
+ |
+ |
o/w scope effect |
2.9 |
8.5 |
|
|
Contributed revenue |
172.4 |
209.1 |
+ |
+ |
As of
The
-
In
France , contributed revenue stood at€145.2 million , an increase of +11.9% compared toMarch 31, 2021 . This increase includes the contribution of Séché Assainissement, consolidated as ofJanuary 1, 2022 , for€6.6 million . Excluding the scope effect, growth amounted to +6.9% , illustrating the good level of growth across all activities within each division.
The period benefited from the good performance of industrial markets, supported by the level of industrial production, while Local Authorities markets confirmed their solidity, supported by the implementation of regulations relating to the circular economy.
It also saw strong momentum in Services activities, in particular environmental emergency activities.
-
International revenue was
€63.8 million , up +49.8% compared to Q1 2021. That figure includes€8.5 million in two additional months' contributions from Spill Tech, which was consolidated fromMarch 1, 2021 .
At constant scope and exchange rates, growth was at a high level (+
These favorable developments were bolstered by the high level of activity in Environmental Services, in particular the pollution and environmental emergency businesses in
Analysis by activity
Consolidated data in €m
As of |
2021 |
2022 |
Gross change |
Organic change |
|||||
Circular economy |
60.9 |
66.4 |
+ |
+ |
|||||
o/w scope effect |
- |
- |
|
|
|||||
Hazard management |
45.6 |
52.3 |
+ |
+ |
|||||
o/w scope effect |
- |
- |
|
|
|||||
Services |
65.9 |
90.4 |
+ |
+ |
|||||
o/w scope effect |
2.9 |
15.1 |
|
|
|||||
Contributed revenue | 172.4 |
209.1 |
+ |
+ |
All activities contributed to the good performance in Q1 2022:
-
Activities related to the circular economy (revenue up +
9.1% -organic-) are supported by regulations and the growing needs of customers for low-carbon solutions for regenerated materials or recovery energy, inFrance and internationally, where Valls Quimica (Spain ) saw significant growth in its chemical purification activities (+24.5% ); -
Activities related to the Hazard Management (reve,ue up +
14.7% -organic-) benefited inFrance from the good level of industrial production and favorable commercial effects (volume effects and price effects) in a context of good availability of treatment capacities. Internationally, mining / oil and gas clients benefited from the rise in commodities, such as inChile (revenue up +38.8% -organic-); -
Services activities posted very strong growth (+
36.9% ), partly reflecting the scope effect related to Séché Assainissement and Spill Tech (€15.2 million ). At constant scope, Services activities recorded solid growth (revenue up +17.4% -organic-) especially in chemical cleaning activities (Solarca up +38.3% ) and the dynamic decontamination and environmental emergency “spot” markets inFrance (SUI up +45.3% ),South Africa (Spill Tech up +46.0% compared toMarch 2021 ) andPeru (Kanay up +277% ).
Analysis by division
Consolidated data in €m
As of |
2021 |
2022 |
Gross change |
Organic change |
Hazardous Waste |
110.5 |
132.7 |
+ |
+ |
o/w scope effect |
2.9 |
8.5 |
|
|
Non-Hazardous Waste |
61.9 |
76.4 |
+ |
+ |
o/w scope effect |
- |
6.6 |
|
|
Contributed revenue |
172.4 |
209.1 |
+ |
+ |
Divisions contributed to growth in a balanced manner:
-
The Hazarouds Waste division posted revenue of
€132.7 million , up by +20.0% compared to Q1 2021. This increase includes a scope effect of€8.5 million , corresponding to an additional two months of Spill Tech's contribution in Q1 2022.
At constant scope and exchange rates, the division's growth was up +
-
The Non-Hazardous Waste division achieved revenue of
€76.4 million , an increase of +23.4% over the period.
Restated for the scope effect related to the consolidation of Séché Assainissement (
Growth outlook confirmed
This good start to the year underpins Séché Environnement's growth prospects for the current year.
Positioned on the Circular Economy and Decarbonization markets, and a player in industrial relocation as part of an ecological transition approach, the Group is responding to the challenges faced by the regions by supplying low-carbon regenerated resources, raw materials and energy, while the geopolitical context increases the cost of fossil resources along with the attractiveness of the solutions proposed by the Group.
Séché Environnement's business lines, which are essential to protecting the environment and responding to regulatory requirements in order to facilitate the ecological transition, therefore show strong resilience in the event of an unfavorable downturn in the economic cycle, particularly in
Séché Environnement reaffirms its confidence in achieving its business growth targets in 2022, with organic growth in line with the trends observed in the second half of 2021.
Conference call
A conference call to comment on the Q1 2022 activity will be held, in French only, on
To participate in the conference, dial +33 170 710 159 - Code: 83 79 01 56 #
Presentation materials will be available from
The conference will be available to replay by dialing +33 172 727 402 – Code: 42 50 20 748#
Upcoming events
Combined General Meeting
Consolidated results as of
About Séché Environnement
Séché Environnement is a leading player in waste management, including the most complex and hazardous waste, and in environmental services, particularly in the event of an environmental emergency.
Thanks to its expertise in the creation of circular economy loops, decarbonization and hazard control, the group has been contributing to the ecological transition of industries and territories, as well as to the protection of the living world, for nearly 40 years. A French family-owned industrial group, Séché Environnement deploys the cutting-edge technologies developed by its R&D department at the heart of territories, in more than 120 locations in 15 countries, including some fifty industrial sites in
ISIN : FR 0000039139 – Bloomberg : SCHP.FP – Reuters : CCHE.PA
1 See Appendix 1: “Definition of contributed revenue”
Appendix 1
Definition of contributed revenue
In €m |
|
|
|
|
As of |
2021 |
2022 |
||
Revenue (reported) |
183.7 |
226,6 |
||
IFRIC 12 revenue |
- |
4,5 |
||
TGAP |
11.3 |
13,0 |
||
Contributed revenue |
172.4 |
209.1 |
IFRIC 12 revenue: investments made for disposed assets, billed back to the Licenser and booked as revenue in accordance with IFRIC 12
TGAP:
Its projected change between 2021 and 2025, which is both very significant and very differentiated depending on the business lines and types of processing, will lead to the recognition, in reported revenue, of:
- Non-economic revenue resulting from a significant increase in the amount of tax collected, particularly within the NHW division;
- Significant differentiated changes between activities, which are not representative of their economic changes, particularly in the treatment business lines (incineration and storage of final waste (see Appendix 2).
This change has no impact on operating margins, particularly EBITDA.
Its restatement in non-contributed revenue is also neutral in terms of operating margins.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220426005821/en/
SÉCHÉ ENVIRONNEMENT
Analyst/Investor Relations
Head of Investor Relations
m.andersen@groupe-seche.com
+33 (0)1 53 21 53 60
Media Relations
Head of Communications
c.descotes@groupe-seche.com
+33 (0)1 53 21 53 53
Source: Séché Environnement