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Sita Q3 growth despite economic gloom

Suez Environnement, parent company of waste firm Sita, has announced a 1.3% revenue increase for the third quarter of 2012.

The French waste and waste multinational said reported a Q3 revenue of €11.118m. However, the group said EBITDA earnings for the period to 30 September 2012 was down 4.1% to €1.77m from €1.845m in Q3 2011.

Its European waste division, including Sita UK, reported a 2.1% revenue increase to €4.908m, and 4.1% growth in the UK and Scandinavia region to €37m.

Suez said UK waste treatment activity grew driven by the on-going construction of its Suffolk energy from waste facility, positive price effect driven by landfill tax rises, and increased energy recovery volumes.

It was, however, affected by falling landfill volumes.

Jean-Louis Chaussade, CEO at Suez, said while the Q3 performance had improved on the first half of 2012, “the Waste Europe activity is still being affected by a difficult economic environment; treated volumes decrease remained in the -3% trend.

“Nevertheless, thanks to the effects of implemented efficiency plans, the division profitability improved compared with end of June.

“Suez Environnement therefore actively continues its adaptation plan to the economic crisis and keeps on giving priority to cash generation, while remaining selective in its investments.”

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