Strong Revenue Growth for Suez
Suez's total revenues through September 30, 2001 rose to EUR 30.569 billion, a gain of 26.1 percent compared with the same period in 2000. For the third quarter alone it reached 24.5 percent.
This strong growth illustrates Suez's capability of leveraging its positions in its three global businesses not only internationally but also in its domestic markets where the Group continues to record sustained organic growth.
Organic growth: excluding energy trading activities, organic growth rose +8.7%. Including trading, it rose +19.1%. Third quarter organic growth (+7.3%) conveys the dynamism of Group activities.
External Growth was +7.1%. Changes in consolidation (EUR 1.715 billion) reflect the Group's recent acquisitions, mainly in Energy. These included Electrabel Nederland (the former EPON in the Netherlands), Energie Saarlorlux (Germany), Tractebel LNG North America (formerly Cabot LNG in the US), the subsidiaries of Sithe Energies (Thailand), and entry of Sulzer Infra and GTI into the Fabricom group. Other acquisitions were in Waste Services with Sembsita Australia (formerly Pacific Waste Management, in Australia) and Sellbergs (Sweden), and in water treatment with Nalco's acquisition of Exxon's holding in ONES (formerly NEEC).
Internationalization: revenues generated outside France and Belgium (EUR 16.6 billion) progressed 43.2%, including energy trading, representing 54.4% of the total compared with 48% in the period ending September 2000.
WATER (Ondeo) + 9.3 %
1. Water management (ONDEO Services) advanced 7.9% despite the impact of lower rates in the UK (starting April 1, 2000).
International water revenues rose 10.2%, of which + 6.5% was organic. Results are excellent in Spain and in Latin America thanks to negotiated rate hikes in Chile and Argentina.
In France, organic growth grew 4.5%, largely related to the development of wastewater activities but also the growth in services to industrial customers.
2. Treatment (Ondeo Nalco), mainly serving industrial customers, progressed by 15.2%, benefiting from the acquisition of the remaining equity in ONES (water treatment and speciality chemicals for the petroleum industry). Despite the US economic downturn, organic growth came to + 2.7%, thanks in particular to the "industrial energy services" division (petroleum and petrochemicals) where Nalco strengthened its leadership positions.
3. Water engineering (Ondeo Degremont) recorded growth of + 0.6% due mainly to the European municipal authority market, partially offset by the decline in "Equipment Standards" activities.