. Earth Science News .

Water group Suez strives to overcome Australian problem
by Staff Writers
Paris (AFP) Feb 8, 2012

The French environmental services group Suez said Wednesday that it would preserve a solid balance sheet after releasing 2011 results that were hit by problems at an Australian desalination plant.

Investors were not impressed, and drove the company's share price down in trading on the Paris stock exchange.

A Suez statement that underscored "an atonic economic environment" quoted chief executive Jean-Louis Chaussade as saying that his priorities this year and next were "to protect profitability and maintain a solid balance sheet with a sustained cash flow generation."

Suez reported a 6.9-percent increase in 2011 sales to 14.8 billion euros ($19.7 billion), but a 42.8 percent plunge in net profit to 323 million euros.

That was the result of additional construction costs at a desalination plant in Melbourne that cut 237 million euros from the group's bottom line.

The construction was now 89 percent complete, Suez said.

Core operating profit gained 7.4 percent to 2.5 billion euros meanwhile, and was forecast to reach or exceed 2.7 billion by the end of 2013, it added.

"Our two activities had very solid performances, above initial guidance, with dynamic sales activity in water in Europe, (and) the confirmation that waste industry is moving towards more recovery, and sustained growth internationally," Chaussade said.

Investors were disappointed by the results however, and Suez shares lost 0.74 percent to 10.02 euros in midday Paris trading.

The CAC 40 index of leading French stocks was 0.39 percent higher overall.

Suez noted meanwhile that group debt was stable at 7.6 billion euros.

Following the sale of the its UK unit Bristol Water late last year, Suez is finalising the divestment of the Berlin-based water and waste company Eurawasser to fellow German group Remondis for 95 million euros.

Related Links
Water News - Science, Technology and Politics

Get Our Free Newsletters Via Email
Buy Advertising Editorial Enquiries


. Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Yangtze river pollution sparks panic in China
Shanghai (AFP) Feb 8, 2012
A cargo ship spilled acid into China's longest river last week, contaminating tap supplies and sparking a run on bottled water in eastern China, the government and state media said. It is the nation's second water pollution scare in a month, after factories in the southern region of Guangxi contaminated water supplies for millions with toxic cadmium and other waste in January. The ship, ... read more

Japan passes $33 bln fourth extra budget

UN aims for major cut in peacekeeping bill

Fukushima's temperature rise stabilized

Amazon in streaming video deal with Viacom

Home security cameras exposed images

3D printer creates new jaw for woman

Phobos Crash Test Dismisses U.S. Link

Yangtze river pollution sparks panic in China

Water group Suez strives to overcome Australian problem

First plants caused ice ages

Russia drills down to pristine Antarctic Lake: scientists

Land-cover changes do not impact glacier loss

Romania's incoming agriculture minister slammed for GM links

Electron-beam irradiation reduces virus-related health risk in lettuce and spinach

Brazil to lead world in biotech crops: association

Consumers Willing to Buy Sustainable US Cotton

Scant hope for Philippine quake missing

Philippine quake survivors beg for search help

Philippine rescuers search for quake survivors

Flood fears ease in Australia as clean-up begins

Explosion rocks military barracks in northern Nigeria

S.Africa's strike-hit Kruger Park to hire retired rangers


Memory Foam Mattress Review

Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News


The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement