Suez Unveils Disappointing 2017 Guidance; Confirms Interest in GE Water
We are reaffirming our EUR 14 per share fair value estimate and stable no-moat rating for Suez after the group published full-year results roughly in line with our expectations. While results were moderately below our 2016 expectations, we reaffirm our long-term expectations with no material fair value estimate impact. For the year, adjusted EBIT grew 0.5%, versus management's 2% guidance. Excluding lower water volumes in France, EBIT grew 2.1%.ÂFor 2017, management disclosed disappointing guid...
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).
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