“Shaping SUEZ 2030”计划 全面推动苏伊士成为环境服务行业全球领导者
苏伊士集团宣布“Shaping SUEZ 2030”计划，旨在通过这项全面的战略计划为集团作出定位，以把握当前的机遇和应对未来十年的挑战。该计划将在四年内进一步为各利益相关者创造价值，尽早在2021年取得实质性成果，并对苏伊士集团作出战略定位——环境服务行业全球领导者。
苏伊士将加速转型，是基于与集团业务密切相关的主要行业的发展趋势，包括循环经济的可持续增长及其对客户的影响，新业务模式和新竞争对手的出现，以及社会各界对气候危机在观念上的深刻转变和采取具体行动的需要。
这项新计划有助于集团充分利用自身的核心优势——创新、一流的技术和专业知识、卓越的团队和良好的声誉。它也是推动集团选择性增长、简化工作模式，进一步展现员工对环境的热爱的最佳方式。
“Shaping SUEZ 2030”计划，将在以下方面加速发展，为所有利益相关者增加价值：
- 选择性的有机增长，包括规范管理资本性支出、对15%-20%资本组合进行轮换；
- 简化架构，于2023年前通过推行10亿欧元的绩效计划，将部分提高运营盈利能力，并加强在创新和数字化方面的投入；
- 让客户和员工共同参与，以全新的价值观迎接变革、发挥苏伊士的共赢精神。
这项计划在中期将对集团各个层面进行全面改革：我们在未来四年的目标是将新的价值和文化融合到集团各个层面，以较低资本为持续、有机的增长奠定基础，改变业务组合，并将我们的资本回报率至少提高两个百分点，从而提高以正常派息比率增加股息的能力。
到2021年集团将呈现明显变化，该年的财务指标反映集团的重点在盈利能力及其可持续性上：
2021 指标:
• 经常性每股收益0.8 欧元
• 经常性自由现金流5亿欧元
• 净负债 / 未计息税、折旧及摊销前利润 2.8 - 3.0倍
苏伊士集团首席执行官康宇：
“藉着‘Shaping SUEZ 2030’计划，我们矢志成为环境服务行业全球领导者，让苏伊士成为客户、员工和利益相关者的首选，共同努力恢复和保护自然环境要素：水、空气和土壤。
凭借苏伊士悠久的声誉、一流的技术，及对可持续发展的专业知识，我们将重新定位集团的战略, 以配合市场的变化及因应当下环境的需求而作出贡献，务求尽早在2021年前提升我们创造的价值。为了使这项战略计划全面落实, 我们必须作出选择性增长、简化工作模式及对公司文化进行变革。
我们在水务、固废资源管理以及环境技术与方案三个不同的业务范畴都看到机遇：我们将扩大与工业客户的合作、投放更多资源在以技术和数字化环境解决方案为基础的业务上, 使我们在国际市场上继续增长。与此同时, 我们将继续以欧洲作为我们创新和可持续发展的强大后盾。
上述这些行动现已启动, 它将带领我们踏上通往2023年的四年之旅, 以落实集团在各个方面的变革。我们承诺在2021年前集团会呈现出明显变化。
苏伊士所有员工及董事会成员的全力支持和参与，促使我们制定这项雄心勃勃、稳健且令人振奋的计划。现时, 此计划已落实执行。
而苏伊士2030计划的成功，则有赖调动我们所有员工的努力及专业技能，以更好地为我们的客户和合作伙伴提供服务。我们全新的价值观（对环境的热爱、以客户为先、互相尊重及团队的合作精神），与苏伊士的文化（发挥共赢精神）相结合，将支持集团深层变革、落实战略计划的推行。”
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“Shaping SUEZ 2030”将涵盖集团三个业务范畴:
• 水务 (约占2018年销售总额的40%) 重新整合苏伊士全球所有的市政水务业务；
• 固废资源管理 (约占2018年销售总额的40%) 重新整合苏伊士集团所有工商业客户的非危险废弃物处理及市政固废资源管理业务；
• 环境技术与方案 (约占2018年销售总额的20%) 重新整合水务技术与方案、危险废弃物处理和特殊的环境解决方案，服务工业及市政客户。
该计划主要方针：
选择性：引导选择性增长。集团计划利用欧洲强大的创新能力，并为集团所有部门确定下列优先事项，以贏得最佳机遇、实现加速发展：
• 国际市场：集团瞄准个别国家的增长，将部署其全部价值主张并进一步扩展到创新服务领域。此外，计划进入环境基础设施需求快速增长的特定市场，目标是达到集团收入的60％。
• 工业客户：集团在5个主要的高增长市场上加速发展，并利用其独特的解决方案组合以最高的增值来优先开展活动。与工业客户携手合作，设计定制的综合解决方案，以帮助他们实现可持续发展路线图，目标是达到集团收入的50％以上。
• 技术和数据驱动的解决方案：集团利用专有技术和创新来开发和推出全球先进的解决方案，还将建立新的高潜力轻资产业务，例如空气质量管理和智能农业，目标是超过集团收入的30％。
集团的资本分配将不断变化，以反映以下优先事项：
• 优先考虑价值而非数量，并以投资的本质为根本
• 使业务组合符合创造价值的抱负： 占资本15%-20％的业务已被列入资产转换计划
简化架构：致力于简化工作模式，将改善集团运营绩效，包括促进创新和数字化以推动未来的增长
• 建立一个更精简、更高效的组织，包括减少业务部门数量及下放决策权，为我们的客户提供最好的服务
• 优化和规范工业流程，加速采购和外部资源的转型并理顺间接成本，尤其是销售及行政开支
• 推行上述措施的目的是于2023年前履行10亿欧元的年度减省，其中35％至45％将有助苏伊士的盈利，现时可预见于2021年可实现约45％至50％
客户和员工共同参与——迎接变革并发挥苏伊士共赢精神
• 围绕4个新价值观推动参与：对环境的热爱，以客户为先，互相尊重，团队的合作精神
• 提升整个组织的人才，领导力和技能
• 以独特的能力在新兴市场建立新的“卓越中心”
• 增强责任心以加快执行和提升绩效
• 管理团队的激励机制将与财务目标保持一致
指标和前瞻性信息：
2021年指标：
• 经常性每股收益0.8欧元
• 经常性自由现金流5亿欧元
• 净负债/未计息税、折旧及摊销前利润2.8-3.0倍
额外财务元素（包括一次性）：
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2019年： |
一次性支付1.5-2.0亿欧元以抵消阿根廷的和解，主要是非现金 |
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未来： |
一次性支出总计为5-7亿欧元，大部分将在2020年完成 |
新的报告部分最迟于2020年1月1日生效，并将与原来的框架进行对帐。
注：关于在此前报告框架下为2019年设定的目标，排除对今天宣布的计划产生的任何影响，集团确认以下目标：
- 有机收入增长2％至3％
- 有机未计利息、税项前盈利增长4％至5％
- 自由现金流增长约7％至8％
- 2019年的杠杆比率（净负债/ 未计息税、折旧及摊销前利润）为约3倍
- 决心于2020年继续降低债务比率
在此基础上，根据董事会规定，本集团拟在2020年5月的年度股东大会上建议2019年的股息为每股0.65欧元。
提升对2030年的可持续发展承诺：
• 与2050年+ 1.5°C路径/碳中和相一致，将温室气体排放量减少45％（此前为30％）
• 100％可持续解决方案
• 每年为我们的客户减少约2,000万吨的二氧化碳排放量。
附录：替代绩效指标
经常性每股收益（每股收益）：
（净收入组合份额 –（混合息票+所有一次性费用现金和非现金+/-资本收益/变卖亏损）x（1-适用税率））/股份数量。
相比之下，2018年经常性每股收益估计为0.56欧元。
经常性自由现金流：
经营活动产生的现金流量–混合息票+重组（现金费用）–物业，设备–无形资本支出–租赁费用–净财务费用–包括从少数股东流入/流出的股息在内的流量
相比之下，2018年的经常性自由现金流估计为9,500万欧元。
ROCE（已动用资本回报率）：
（（未计利息、税项前盈利-股权会计公司净收入中的份额）x（1-规范税率））/（在当年年底之前和当年年底使用的资本的简单平均值，包括国际财务报告准则第16号）
相比之下，2018年的已动用资本回报率估计为4.9％。
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苏伊士于2019年10月2日在巴黎举行的投资者会议上发表了“Shaping SUEZ 2030”计划。 会议从欧洲中部时间10:00（英国夏令时间09:00）开始进行网络直播，并可在苏伊士网站上取得有关文件。
财务日历
§ 2019年10月30日：发布2019年前九个月的营业收入（电话会议）
声明
苏伊士
苏伊士作为资源智慧化和可持续管理的全球领导者,旗下9万名员工遍布世界五大洲。我们提供的水务和固废管理解决方案，能让各大城市和工业优化其对资源的管理，提升其环境和经济绩效并符合监管标准。为了满足日益增长的需求，克服资源质量和短缺的挑战，苏伊士全力投身资源变革。集团充分利用数字化技术和创新的解决方案，每年处理逾4,500万吨的废弃物, 生产440万吨再生原料和7.7太瓦时的再生能源；在水资源保护方面，集团向6,600万人提供污水处理服务，回用污水11亿立方米。苏伊士于2018年的总收益达173亿欧元。
苏伊士亚洲
苏伊士在早于60年前就已为东南亚提供水务及固废资源管理服务，继而扩展至中国的发展也逾40年。集团与各地的合作项目逾70个，旗下逾9,000名员工不断努力为当地政府机构、工商企业客户提供创新的、合适的解决方案，以应对气候变化和确保资源的可持续管理。水务方面，在亚洲建立了460多座水处理厂和污水处理厂并为2,000万人口提供饮用水服务，在澳门运营着中国水务行业的第一个PPP项目以及在重庆负责中国内地第一个供水专营合同；固废方面，集团是香港固废处理的领导企业；工业服务方面，集团为中国13个工园区提供专业环境管理服务。
SHAPING SUEZ 2030
A COMPREHENSIVE PLAN
TO BECOME THE GLOBAL LEADER IN ENVIRONMENTAL SERVICES
SUEZ announces today “Shaping SUEZ 2030”, a comprehensive strategic plan to position the Group - now - for the opportunities and the challenges of the next decade. The plan enhances value creation for all stakeholders over 4 years with material results as soon as 2021. The plan positions SUEZ as the global leader in environmental services.
Given the key trends in our business - the continued growth of the circular economy and its impact on our customers, the emergence of new business models and new competitors, combined with a profound shift of the mindset of citizens towards the climate crisis and a need for concrete action
- SUEZ will accelerate its transformation.
With this new plan, the Group leverages its core strengths – innovation, best in class technologies and know-how, exceptional teams and an excellent reputation. The plan drives selectivity in growth, simplicity in its way of working and a renewed engagement grounded on a passion for the environment.
“Shaping SUEZ 2030” will increase value for all stakeholders by accelerating:
- Selectivity in organic growth, comprising capex discipline and also portfolio rotation for which businesses have been identified accounting for 15-20% of our capital employed
- Simplicity with a leaner organization, underpinned by a €1bn efficiency plan by 2023 which will in part improve operating profitability as well as finance a step-up in investment in innovation and digitization
- Engagement with our customers and from our employees, embracing change and reviving our winning spirit with a refreshed core of values
The plan will transform the Group at all levels in the mid-term: our ambition for the four years to 2023 is to embed our new values and culture firmly across the Group, set the scene for sustained organic growth with lower capital intensity, change our business portfolio and improve our returns on capital employed by at least two points, enhancing our capacity to increase our dividend at a normal payout ratio.
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Change will be evident already by 2021 and the Group’s financial objectives for that year reflect our intention to focus going forward on profitability and sustainability:
Bertrand Camus, SUEZ CEO, commented:
“With Shaping SUEZ 2030, our ambition is to be the global leader in environmental services, making us the preferred choice of our customers, employees and stakeholders, working together to restore and preserve the fundamental elements of the environment: water, air and soil.
Building on SUEZ’s long-standing reputation, best-in-class technologies, expertise in sustainability, we will reposition the Group’s strategy. We will embrace changes in our markets and contribute here and now to environmental needs, while driving improvements in the value we create as soon as 2021. Our comprehensive plan calls for selectivity in growth, simplicity in our way of working and an evolution in the company’s culture.
We see opportunities across each of our three business segments (Water, Recycling & Recovery and Environmental Technologies & Solutions): we will grow in International markets, do more with Industrial customers and win business based on technology and data-driven environmental solutions, with Europe remaining at the heart of our innovation and sustainability.
Taken together, the set of actions we have started to execute take us on a 4-year journey to 2023, during which we will transform the group in every respect. We commit to show visible progress already in 2021.
The engagement and full support of all the teams at Suez and the Board of Directors has enabled us to build an ambitious, robust and exciting plan – we have now started to execute.
The success of SUEZ 2030 will be based on mobilizing the energy and expertise of all our committed employees - to better serve our customers and partners. Our new values - passion for the environment, customer first, respect, team spirit - combined with a culture which revives our winning-spirit, will all support the deep transformation which underpins our strategic plan.”
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1 2021 guidance assumes no material change in economic and market conditions (incl. interest rates, forex and commodity prices) vs. those observed over the past 12 months. Please, see definition of alternative performance indicators in appendix. 2 Debt including IFRS 16.
“Shaping SUEZ 2030” will be implemented across the Group’s three business segments:
· Water (c. 40% of 2018 sales) regroups all SUEZ municipal water activities globally,
· Recycling & Recovery (c. 40% of 2018 sales) regroups all SUEZ waste activities related to non-hazardous waste with municipal as well as with Industrial & Commercial customers,
· Environmental Tech & Solutions (c.20% of 2018 sales) regroups WTS, hazardous waste and speciality environmental solutions for industrial and municipal customers.
The main drivers of the plan are:
Selectivity - Steering selectivity in growth, the Group intends to leverage its strong European innovation capabilities and accelerate where it has identified the best opportunities on the following priorities for all parts of the Group:
· International markets: The Group targets growth in selected countries where it will deploy its full-value proposition and further expand into innovative services. In addition, it plans to enter selected markets with fast-growing environmental infrastructure needs, with the ambition to reach 60% of Group revenue.
· Industrial customers: The Group accelerates on 5 key high-growth markets and prioritizes activities with the highest value-add leveraging its distinctive portfolio of solutions. Working hand-in-hand with its industrial customers, it will design custom made, integrated solutions to help them achieve their sustainability roadmap, with the ambition to be above 50% of Group revenue.
· Technology and data-driven solutions: The Group leverages proprietary technologies and innovation to develop and roll-out globally advanced solutions. It will also build new high-potential asset-light businesses such as air quality management and smart agriculture, with the ambition to exceed 30% of Group revenue.
The Group’s capital allocation will evolve, to reflect these priorities:
· Prioritize value over volume with a strong change of direction in nature of spending
· Align business portfolio with value creation ambitions: businesses representing 15-20% of capital employed have been identified as part of asset rotation program
Simplicity - Promoting simplicity in its way of working, SUEZ will improve its operational performance, in part to boost innovation and digitization to fuel future growth
· Roll out a leaner and more efficient organization, with reduced number of business units and a devolved decision-making process to best serve our customers
· Optimize and standardize industrial processes, accelerate transformation in procurement and external resources, rationalize indirect costs, notably SG&A
· The objective of the above measures is to deliver €1bn of annual savings by 2023 of which 35 to 45% are expected to benefit SUEZ’s profitability with around 45 to 50% of this annual saving already evident in 2021
Engagement with our customers and from employees - Embrace change and renew the SUEZ winning spirit
· Foster engagement around 4 new values: passion for the environment, customer first, respect, team spirit
· Upgrade talents, leadership and skills across the organization
· Promote new Centers of Excellence in emerging markets with distinctive capabilities
· Accelerate execution and performance, thanks to increased accountability
· Management team’s incentives will be realigned with financial objectives
Guidance and forward looking information:
2021 guidance3:
· €0.8 recurring EPS
· €500 million recurring Free Cash Flow
· Net Debt4 at 2.8 to 3.0x EBITDA
Additional financial elements, including one-offs:
2019: €150-200m one-offs offsetting Argentine settlement, largely non-cash Future: €500-700m total one-off charges, majority to be accounted for in 2020
The new reporting segments will take effect at the latest on 1 January 2020 and a reconciliation will be given with the prior framework.
Note: Concerning targets previously given for 2019, under its current reporting framework and excluding any impact of the plan announced today, the Group confirms these targets5:
- Organic revenue growth of 2% to 3%
- Organic EBIT growth of 4% to 5%
- FCF growth of around 7% to 8%
- Leverage ratio (Net debt/EBITDA) of c.3x in 20196
- Continued ambition to lower debt ratio in 2020
On this basis, and in accordance with the Board of Directors, the Group intends to propose a dividend of €0.65 per share in respect of 2019 at the Annual General Meeting in May 2020.
Upgraded sustainable development commitment for 2030:
· Reduce GHG emissions by 45% (vs. 30% previously), in line with +1.5°C trajectory/carbon neutrality in 2050
· 100% sustainable solutions
· c.20 million tons of CO2 emissions saved, yearly, for our customers.
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3 2021 guidance assumes no material change in economic and market conditions (incl. interest rates, forex and commodity prices) vs. those observed over the past 12 months. Please, see definition of alternative performance indicators in appendix. 4 Debt including IFRS 16.
5 2019 guidance assumes water volumes sold remain in line with historic trends, volumes of waste treated rise by +1.5% in Europe and raw materials prices are stable relative to December 31, 2018.
6 Excluding impact of application of IFRS 16 accounting standard
Appendix: Alternative performance indicators
Recurring EPS (Earning per share):
(net income group share – (hybrid coupon + all one-off costs cash and non-cash +/- capital gain/losses on disposals) x (1 - applicable tax rate))/ number of shares.
By way of comparison, the 2018 recurring EPS is estimated at €0.56.
Recurring Free Cash Flow:
Cash Flow from operating activities – hybrid coupon + restructuring (cash expenses) – property plant, equipment – intangible capex – lease expenses – net financial charges – flows including dividends to/from minorities
By way of comparison, the 2018 recurring Free Cash Flow is estimated at €95m.
ROCE (Return on capital employed):
((EBIT - Share in net income of equity-accounted companies) x (1 – normative tax rate) / (Simple average of the capital employed at the end of the year before and at the end of the current year including, incl. IFRS 16)
By way of comparison, the 2018 ROCE is estimated at 4.9%.
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SUEZ presents Shaping SUEZ 2030 on 2 October 2019 at an investor meeting in Paris. The meeting, which starts at 10.00 CET (9.00BST) will be webcasted live and supporting documents made available on SUEZ website.
FINANCIAL CALENDAR:
§ October 30, 2019: Publication of nine-month revenue 2019 (conference call)
Disclaimer
This press release contains unaudited financial data. Unless specified, the aggregates presented are those normally used and communicated on markets by SUEZ.
This press release contains estimates and/or forward-looking statements and information. These statements include financial projections, synergies, estimates and their underlying assumptions, statements regarding plans, expectations and objectives with respect to future operations, products and services, and statements regarding future performance. Such statements do not constitute forecasts regarding SUEZ’s results or any other performance indicator, but rather trends or targets, as the case may be. No guarantee can be given as to the achievement of such forward-looking statements and information. Investors and holders of SUEZ securities are cautioned that forward-looking information and statements are subject to various risks and uncertainties, which
are difficult to predict and generally beyond the control of SUEZ, and that such risks and uncertainties may entail results and developments that differ materially from those stated or implied in forward-looking information and statements. These risks and uncertainties include, but are not limited to, those discussed or identified in the public documents filed with the Autorité des Marchés Financiers (AMF), the French Financial Markets Authority. Investors and holders of SUEZ securities should consider that the occurrence of some or all of these risks may have a material adverse effect on SUEZ. SUEZ is under no obligation and does not undertake to provide updates of these forward-looking statements and information to reflect events that occur or circumstances that arise after the date of this document. More comprehensive information about SUEZ may be obtained on its Internet website (www.suez.com). This document does not constitute an offer to sell, or a solicitation of an offer to buy SUEZ securities in any jurisdiction.
About SUEZ
With 90 000 people on the five continents, SUEZ is a world leader in smart and sustainable resource management. We provide water and waste management solutions that enable cities and industries optimize their resource management and strengthen their environmental and economic performances, in line with regulatory standards. To meet increasing demands to overcome resource quality and scarcity challenges, SUEZ is fully engaged in the resource revolution. With the full potential of digital technologies and innovative solutions, the Group treats over 45 million tons of waste a year, produces 4.4 million tons of secondary raw materials and 7.7 TWh of local renewable energy. It also secures water resources, delivering wastewater treatment services to 66 million people and reusing 1.1 billion m3 of wastewater. SUEZ generated total revenues of 17.3 billion euros in 2018.
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