Séché Environnement
Investor Day, December 17, 2019
Regulatory News:
Séché Environnement (Paris:SCHP) confirms its targets for 20191 and 20202 and sets out its economic and financial roadmap through to 2022
Targets for 20191 confirmed
Contributed revenue between €670m and €690m
EBITDA between €130m and €135m, despite non-recurring items affecting profitability in the second half of the year (revamping of Salaise 2, shutdown of Triadis Rouen)
Cash and financial flexibility:
- Free cash flow generation3of 35% of EBITDA
- Financial leverage ratio3 between 3.0x and 3.3x EBITDA, reflecting the acquisitions made in 2019
2020 targets2 partially achieved in 2019 and fully confirmed
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Contributed revenue:
- France: maintain quality growth on our main markets
- International: pursue strong growth across the recently acquired scope (2017-2019)
Operating margin: EBITDA at 20% of contributed revenue for French and international operations
Active investments in line with international development plans
Robust cash and financial flexibility:
- Free cash flow generation4 equal to 35% of EBITDA
- Financial leverage ratio3 around 3.0x EBITDA
1See the press release of September 9, 2019.
2See the press release of June 26, 2018.
3 Calculated
according to the definition provided in the banking contract.
4 Cash before development investments, financial investments, dividends, and financial debt
repayment.
Economic and financial roadmap through to 2022
Contributed revenue (2019 scope) between €750m and €800m with around 30% from international operations
Operating margin: Increase in EBITDA to between 21% and 22% of contributed revenue
Enhanced cash and financial flexibility:
- Free cash flow generation5 equal to 35% of EBITDA
- Financial leverage6 ratio below 3.0x EBITDA
At the Board of Directors’ meeting held on December 10, 2019, which approved the Company’s action plan and economic and financial outlook for the short and medium term as presented to the financial markets during today’s Investor Day, the Chairman, Joël Séché, said,
“The recent change in our governance structure and our active development plan through to 2022 mark the start of a new era of growth, profitability and value creation for Séché Environnement and its shareholders.
With a clear growth strategy on its core business in France and around the world, which positions the Group on expanding markets with good visibility, and with a policy of enhancing industrial efficiency through the continuous improvement of its processes and productivity, Séché Environnement is able to announce solid growth prospects over the medium term, with a significant increase in its profitability and financial performance in terms of cash flow and flexibility.