SUEZ: Business update : One-off elements broadly in line with expectations | SELL | EUR9,5(-9%)
SUEZ - SELL | EUR9,5(-9%)Business update : One-off elements broadly in line with expectations
Strong impact for the Q2 confirmed
Water is not as resilient as expected…
…while wastes in Europe are recovering surprisingly well
Sell rating reiterated, FV EUR 9.5
Suez is active in each stage of the water and waste cycles. Co. is organized around three main segments: Water Europe (water distribution and treatment services, particularly under concession contracts, to individuals, local authorities and industrial clients); Waste Europe (waste collection and treatment services for local authorities and industrial clients; these services include collection, sorting, recycling, composting, energy recovery and landfilling for both non-hazardous and hazardous waste) and International (water, waste and engineering services, with a special focus on risk-management resulting from specific local environments by setting up partnerships).
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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