Seche Environnement - Good results for 2023, with no surprises and market trends showing no signs of weakening
Sustained sales despite a demanding base effect, in line with our expectationsImproved results (ROC +11%), in the middle of the guidance range but slightly below our expectationsGuidance for 2024 and 2026 maintained, and looking credibleWe are maintaining our price target at €115/share, but are lowering our recommendation to Add (vs. Buy previously) in view of the share price trend.Seche Environnement offers environmental management solutions for industrial clients or local authorities. Co. operates waste treatment and recovery facilities and develops tools to produce energy from waste. Co. also collects and sorts all types of waste, whether household or industrial, hazardous or non-hazardous. For local authorities, Co. manages household waste and other environmental concerns. Co. is engaged in thermal treatment, storage, methanization of household waste and production of alternative fuels. For industrial clients, Co. has developed products and services for handling industrial waste from waste production sites to elimination facilities.
We are an investment house with Belgian roots founded on more than 150 years of trust.
As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.
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