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Suez recycling division revenues down

The waste and recycling division of Suez Environnement has shown a revenue decline of 0.5% in its half-year results compared with the same period last year.

Total revenues for the division amounted to €3,167m (£2,241m) which represents a €17m drop at constant scope and exchange rate.

Suez blamed the performance on poor prices for electricity and secondary raw materials.

Metals were singled out as performing particularly badly with a fall of 11%, although the drop in raw material prices generally was most strongly felt in the first quarter.

Treated volumes in Europe grew by 0.8% but the UK saw an above average increase of 2.7%.

The growth was largely attributed to the commissioning of new processing plants, with the report making particular mention of the Suffolk energy-from-waste facility.

Although there was a decline in the volumes sent to landfill, this was offset by increased recycling volumes.

Overall, group revenues stood at €7,295m, up 5.9% (€404m) from the same period last year.

The falls experienced in the recycling division were offset by positive growth in the water and international divisions.

suez chief Jean-Louis Chaussade

Jean-Louis Chaussade, chief executive, left, said: “The group delivered a solid set of results over this half year, enhanced by a favourable Forex effect.

“The international division benefited from sustained growth in almost all geographical regions and in all its businesses.

“Lastly, despite a sluggish macro-economic environment, the recycling and recovery Europe division showed improved performance over the second quarter. Thus, with a more cross-functional and integrated structure and good results, the group confirms its targets for 2015.”

In March, Sita UK announced that it was rebranding to Suez Environnement. The name was subsequently shortened to Suez. The business unit formerly known as Sita UK is now the Recycling and Recovery UK division of Suez.

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