Seche Environnement Sa · EURONEXT:SCHP
Seche Environnement Sa — Q2 2025 Earnings Presentation
31 slides from Seche Environnement Sa's earnings presentation, Sep 10, 2024
Slide 1: H1 2025 consolidated results, Outlook 2025-2026, Groupe Flamme planned acquisition
H1 2025 consolidated results Outlook for 2025-2026 “Groupe Flamme” planned acquisition September 2025
Slide 2: A word of welcome
2 A word of welcome September 10, 2024 conference Speakers As from now, you may submit questions by e-mail to Manuel Andersen, Head of Investor Relations m.andersen@groupe-seche.com Baptiste Janiaud Manuel Andersen Chief Financial Officer Head of Investor Relations H1 2025 consolidated revenue and e
Slide 3: H1 2025 highlights: brisk business and improved operating results
3 H1 2025 highlights Brisk business and improved operating results amid a turbulent macroeconomic environment ECO Successful integration of ECO: strong operating performance and industrial project nearing completion Continuation of the Historical scope development plan and Weak basis of comparison i
Slide 4: H1 2025 highlights: strong sales momentum and improved financial strength
4 H1 2025 highlights Strong sales momentum and improved financial strength driving sustainable and profitable growth Valo’Loire Launch of Nantes PSD – Valo’Loire Operating contract: €188m over 20 years (March 2045) Séché operates and is currently upgrading Construction contract: €300m a key facility
Slide 5: Trends in key operating and financial indicators
5 Consolidated financial statements for the six months ended June 30, 2025 Trends in key operating and financial indicators June 30 (6 months) 2024 % of revenue 2025 % of revenue Gross Scope effect Foreign Organic €m change (ECO) exchange change effect Contributed revenue 505.1 100.0% 580.1 100.0% +
Slide 6: Consolidated financial statements for the six months ended June 30, 2025
6 Consolidated financial statements for the six months ended June 30, 2025 H1 2025 consolidated revenue and earnings - Outlook
Slide 7: Contributed revenue: buoyant organic growth across most segments
7 H1 2025 revenue Contributed revenue Buoyant organic growth across most segments Change in reported revenue and contributed revenue (€m) Non-contributed revenue: €32.7m (vs. €35.3m in H1 2024) IFRIC 12 investments: €0.6m vs. €4.0m 37,9 612,8 TGAP general tax on polluting activities: €32.2m vs. €31.
Slide 8: Q2 organic growth upswing
8 H1 2025 revenue Q2 organic growth upswing Strong contribution from services in France and abroad Quarterly change in Group contributed revenue Quarterly change in France contributed revenue (€m and constant scope) (€m and constant scope) +8.2% +5.8% 2024 +8.9%* 213,9 2025 +5.4%* 197,1 181,8 182,2
Slide 9: France and International revenue by region
9 H1 2025 revenue France: strong markets (excluding recovery business) International: strong momentum in most geographic regions Change in Group contributed revenue by geographic region International: €201.2m revenue up 33.2% (reported) (€m and actual scope) up 8.6% (organic) Positive scope effect:
Slide 10: Change in business mix: strong contribution from services
10 H1 2025 revenue Change in business mix: strong contribution from services Positive trends in hazard management Change in Group contributed revenue by activity Change in HW contributed revenue by activity (€m and actual scope) (€m and actual scope) o/w Energy (0.3) 33,4 416,5 o/w Energy 47,3 31,8
Slide 11: Growth in consolidated EBITDA
11 H1 2025 operating results Growth in consolidated EBITDA Strong operating performance from France and ECO scopes Analysis of EBITDA by geographic scope (€m) 15,8 0,0 118,2 14,5 - 0,4 88,3 0,0 France International 06.30.24 Scope effect Organic Scope effect Forex effect Organic 06.30.25 June 30 (6 m
Slide 12: EBITDA growth: volume effects in services
12 H1 2025 operating results EBITDA growth Volume effects in services EBITDA up 33.9% to €118.2m or 20.4% of revenue (vs. 17.4% in H1 2024) 49,1 Positive scope effect: €15.8m - 0,4 15,8 118,2 At constant scope: EBITDA of €102.4m or 18.9% of - 18,9 0,1 102,4 revenue 88,3 - 15,8 Energy (5.1) Volume an
Slide 13: Change in COI: accretive impact of ECO
13 H1 2025 operating results Change in COI Accretive impact of ECO Historical scope: contribution from France scope Change in COI by geographic scope (€m) 11,6 0,0 49,1 14,5 - 0,4 - 1,1 29,6 0,0 - 5,1 France International H1 2024 Scope Oragnic EBITDA Depr. am. & prov. Scope Forex effect Oragnic EBIT
Slide 14: Net income (Group share) doubled
14 Change in key financial indicators at June 30, 2025 Net income (Group share) doubled June 30 (6 months) 2024 % of 2025 % of Gross Organic €m contributed contributed change change revenue revenue Current operating income 29.6 5.9% 49.1 8.5% +65.9% +26.7% Operating income 28.2 5.6% 49.2 8.5% +74.5%
Slide 15: Industrial investments under control
15 Industrial investments Industrial investments under control Targeted development investments Breakdown of investments recognized Change in investments recognized (€m) Total CAPEX: 6.1% of contributed revenue 35.6 (vs. (6.6% in H1 2024) 33.4 15% 6,6 Non-recurring CAPEX MM&R Services: €2.3m 9,7 Cir
Slide 16: Strong free cash flow generation
16 H1 2025 cash generation Strong free cash flow generation Reduction in net financial debt (vs. 12/31/2024) Solid generation of free operating cash flow Reduction in IFRS net financial debt (€m) €m H1 2024 FY 2024 H1 2025 EBITDA 88.3 242.3 118.2 849,7 9,7 2,9 0,6 5,9 1,4 6,7 813,7 Other operating i
Slide 17: Improved financial flexibility
17 Financial position at June 30, 2025 Improved financial flexibility Liquidity position considerably strengthened Gross financial debt structure (€m) Improvement in liquidity position (€m) 1,147.6 550.6 17,1 1,019.4 65,5 200,0 361.0 356.5 18,6 71,1 16,7 3,4 170,0 170,0 61,0 175,7 20,0 16,7 333,9 75
Slide 18: Extension of debt maturity to 4.6 years
18 Financial position at June 30, 2025 Extension of debt maturity to 4.6 years (vs. 4.1 years at December 31, 2024) Major financing arrangements at June 30, 2025 IFRS gross debt repayment schedule (€m) Issues/RCF Tranche Coupon Maturity KPIs 551 Euro-PP €60m 2.90% 05/2026 - 05/2019 €20m 3.05% 05/202
Slide 19: H2 2025 outlook
19 H2 2025 outlook Brisk business but operating margins occasionally impacted by low energy sale prices and a less favorable industrial environment H2 2024: a strong basis for comparison France - More normative contribution from emergency and remediation business Business lines - Resilience among bu
Slide 20: External or one-off factors liable to impact short-term operating margin growth
20 Outlook for 2025-2026 at constant scope and exchange rates External or one-off factors liable to impact short-term operating margin growth Allowance for external or one-off factors liable to impact the EBITDA margin Falling energy sale prices (especially electricity) vs. 2024: expected impact in
Slide 21: Planned acquisition of Groupe Flamme
21 Planned acquisition of Groupe Flamme H1 2025 consolidated revenue and earnings - Outlook
Slide 22: Strengthened positions in Séché's historical market
22 Planned acquisition of Groupe Flamme Strengthened positions in Séché’s historical market Acceleration of commercial synergies in Europe ARF Flamme Assainissement Flamme Environnement Hazardous waste management Sanitation Industrial waste management Head office and plant in Saint-Rémy-du- Nord ARF
Slide 23: Q&A
23 Q&A Manuel Andersen Head of Investor Relations m.andersen@groupe-seche.com The 2025 Interim Financial Report is available on the Séché Environnement website www.groupe-seche.com/en/ Treatment of hazardous waste – ECO (Singapore) H1 2025 consolidated revenue and earnings - Outlook
Slide 24: Appendices
24 Appendices H1 2025 consolidated revenue and earnings - Outlook
Slide 25: Definition of contributed revenue
25 APPENDICES Appendix 1 Definition of contributed revenue IFRIC 12 revenue: investments in concession assets recognized as revenue and operating expenses under EBITDA in accordance with IFRIC 12. TGAP: French general tax on polluting activities paid by waste producers and collected by waste treatme
Slide 26: Contributed revenue: breakdown of the scope effect
26 APPENDICES Appendix 2 Contributed revenue: breakdown of the scope effect At June 30, 2025 (6 months) - €m France International Total Hazardous waste division 0.0 31.6 31.6 Non-hazardous waste division 0.0 5.5 5.5 Total 0.0 37.1 37.1 The scope effect in H1 2025 is related to the consolidation of E
Slide 27: Contributed revenue by geographic region
27 APPENDICES Appendix 3 Contributed revenue by geographic region Southern Africa 9% Latin America 5% France International 65% 35% Europe (outside France) 15% Asia 6% Breakdown of H1 2025 contributed revenue H1 2025 consolidated revenue and earnings - Outlook
Slide 28: Breakdown of contributed revenue by division
28 APPENDICES Appendix 4 Breakdown of contributed revenue by division Change in contributed revenue by division Change in contributed revenue - NHW division (actual scope - €m) (actual scope - €m) 5,5 Positive scope effect: €5.5m (ECO) 158,1 Organic: €158.1m contributed revenue, down 1.4% 160,4 Fran
Slide 29: Change in net financial income (loss)
29 APPENDICES Appendix 5 Change in net financial income (loss) June 30 (6 months) 2024 2025 Gross financial borrowing costs (15.5) (20.8) Income from cash and cash equivalents 2.1 2.8 Other financial income and expenses (1.0) (2.6) Net financial income (loss) (14.4) (20.6) Change in gross debt ratio
Slide 30: Breakdown of share ownership and voting rights
30 APPENDICES Appendix 6 Breakdown of share ownership and voting rights Share ownership at June 30, 2025 Voting rights at June 30, 2025 18,9% 29,6% 0,8% 0,7% 8,5% 0,7% 1,2% 61,5% 7,1% 71,2% Séché Family Séché Family Pégase-53 Total: 7,857,732 shares Pégase-53 Treasury shares Treasury shares Total: 1
Slide 31: Disclaimer
31 DISCLAIMER This document may contain forward-looking statements. Such statements concern trends or objectives at the date of production of this document and should not be considered as forecasts of results or any other performance indicator. Such information is by nature subject to risks and unce