Seche Environnement Sa · EURONEXT:SCHP
Seche Environnement Sa — FY2024 Earnings Presentation
44 slides from Seche Environnement Sa's earnings presentation, Mar 6, 2025
Slide 1: Consolidated results at December 31, 2024
Consolidated results at December 31, 2024 Information meeting March 6, 2025
Slide 2: FY 2024 in brief - Welcome message
2 FY 2024 in brief Welcome message Joël Séché Chairman of the Board of Directors Solid recovered fuel valorization - Changé (France) Consolidated financial statements 2024 | March 6, 2025
Slide 3: The speakers
3 Welcome message The speakers Maxime Séché Joël Séché Baptiste Janiaud Chief Executive Officer Chairman of the Board of Directors Chief Financial Officer You can now send your questions by e-mail to to Manuel Andersen, Head of Investor Relations m.andersen@groupe-seche.com Consolidated financial st
Slide 4: A profitable and sustainable growth model for the ecological transition
4 A resilient, high-visibility model A profitable and sustainable growth model for the ecological transition of economic players Our values Our missions Family business with a Reducing long-term vision climate impacts Innovation Reuse Excellence of resources Putting people Industrial wastewater at t
Slide 5: Strategic achievements
5 FY 2024 in brief Strategic achievements Reinforced momentum of profitable, sustainable growth Maxime Séché CEO Hazardous waste treatment - Eco (Singapore) Consolidated financial statements 2024 | March 6, 2025
Slide 6: 2024: Achievements confirm roadmap to 2026
6 Financial and non-financial performance in 2024 2024: Achievements confirm roadmap to 2026 Market sustainability and growth visibility Positioning in sustainable development markets 67% of sales aligned with the European Green Taxonomy Major sales successes in France and abroad boosting the visibi
Slide 7: Responding to the challenges of a sustainable customer base
7 Séché, a player in the ecological transition Responding to the challenges of a sustainable customer base Offer diversification and internationalization A stronger international presence Specialist in complex waste Complementary offers New leadership in Singapore with manufacturers for a secure cir
Slide 8: European Green Taxonomy: high alignment rate confirmed
8 Séché, a player in the ecological transition European Green Taxonomy: high alignment rate confirmed Successful decarbonization strategy and energy policy CA 2024's eligibility and alignment with European green taxonomy GHG emissions (ktCO2) -10.5% -10% -25% 640 651 631 570 573 576 557 2020 2021 20
Slide 9: New sustainability framework
9 Environmental performance as a growth driver Strong commitments to ourselves and our customers New Sustainability Framework rated "Strong" by S&P (as "SPO")*. Our short- and medium-term objectives GHG emissions (ktCO2) SBTi vs 2020 targets - 15.0 % • Decarbonation • Energy efficiency -17.5 % GHG e
Slide 10: New tools to help our customers decarbonize their businesses
10 France: growth in Circular Economy and Decarbonization markets New tools to help our customers decarbonize their businesses Strengthening our position in sustainable growth markets Doubling of capacity at Speichim Processing (St Vulbas - France) Ramping up of Mo'Uve (Montauban - France) Consolida
Slide 11: Renewal and extension of Nantes' public service contract
11 France: growth in Circular Economy and Decarbonization markets Renewal and extension of Nantes' public service contract - Alcéa Séché, confirmed as a player in territorial ecology SPV PSD renewed for 20 years Construction / (March 31, 2045) extension ≈€188m ≈€300m + Energy sales + Third-party was
Slide 12: Latin America: major commercial successes boosting business visibility
12 International: growth in Services markets Latin America: major commercial successes boosting business visibility Chile: "Las Salinas" contract Peru: nearly €65m contracts over 5 years One of the largest soil remediations ever carried out by the Group signed with major international mining groups
Slide 13: ECO, market leader in hazardous waste management in Singapore
13 Acquisition of ECO: strategic external growth ECO, market leader in hazardous waste management in Singapore A high-quality asset in the heart of a dynamic industrial region LEADER Actor N°1 serving Southeast Asia's most 32% ≈440k tpa IN A GROWING MARKET Market share (1) developed economy DYNAMIC
Slide 14: ECO: growth strategy
14 ECO: growth strategy Ramp-up of Processing activities Rapid implementation of synergies in Circular Economy businesses CVC-DIF acquires stake to support growth initiatives in APAC Integrated operator in the treatment of complex Complementary facilities with large, available Start-up of a new inci
Slide 15: Solid sales and operating performance in H2 2024
15 Economic and operational achievements Solid sales and operating performance in H2 2024 confirming the resilience of our sustainable and profitable growth model Solid growth on historical perimeter Strong operating contribution from historical perimeter +3,5%* 25.0% +16,5%* of revenue 22.2% of rev
Slide 16: Economic, operational and financial performance in 2024
16 2024 consolidated financial statements Economic, operational and financial performance in 2024 Baptiste Janiaud Chief Financial Officer Hazardous waste recovery - Speichim (France) Consolidated financial statements 2024 | March 6, 2025
Slide 17: Trends in key indicators economic and financial performance
17 Consolidated financial statements at December 31, 2024 Trends in key indicators economic and financial performance At December 31 2023 As % of 2024 As % of Gross Scope Forex Organic In €M sales sales change effect impact change Contributed revenue 1 013,5 100,0% 1 110,4 100,0% +9,6% 103,4 (0,7) (
Slide 18: Significant increase in Contributed Revenue: +10%
18 Contributed revenue Significant increase in Contributed Revenue: +10%. Scope effect - Sustained growth in H2 80,0 Non-contributed revenue: €80.0m vs. €75.4m at 31.12.23 75,4 IFRIC 12 investments: €13.0m vs. €15.6m TGAP: €67.0 M vs. €59.8 M 1010,4 Variation Contributed revenue: €1110.4m (vs. €1013
Slide 19: Dynamic business in France, varying trends internationally
19 Revenue by geographic area Dynamic business in France Varying trends internationally Contribution to revenue by geographic area International: Revenue €354.2m, +33.7% (reported) (4.9)% (organic*) Scope effect International Scope effect: +102.8 M€ (Furia -Italy- + Essac -Peru- + RaD -Namibia- Inte
Slide 20: Quarterly revenue performance by scope of consolidation
20 Quarterly revenue performance by scope of consolidation Good market trend in France (68% of revenue) Strong contribution in H2, particularly in France Contributed revenue by quarter in €m French revenue by quarter in €m (like-for-like) (like-for-like) +6,5% (0,3)% +3,5% (6,5)% +4,9%* 200,9 213,9
Slide 21: Focus: H2 2024 activity
21 Focus: H2 2024 activity H2 well on track, especially in France, absorbing the impact of energy and the delay in spot business in H1 Market resilience Impact of changes in energy selling prices in €M Net rebound in revenue in H2 2024 (on a like-for-like basis) (on a like-for-like basis) offsetting
Slide 22: Business mix by sector
22 Business mix by sector Dynamism in the Hazardous Waste Division Strong contribution from the Circular Economy (excluding energy) and Hazard Management Scope Scope Scope + 49,2 + 3.3 + 30,0 H1 « spots » Energy (17,9) (9,0) Scope Scope Scope + 67.4 + 5.9 + 30,1 H1 « spots » Energy (17,9) (19,4) Sco
Slide 23: EBITDA up +11%
23 EBITDA performance EBITDA up +11% Solid performance of historical perimeter in France France International At December 31 2023 2024 In €m Consolidated France Internal Consolidated France Internal Contributed revenue 1013,5 748,5 265,0 1110,4 756,2 354,2 EBITDA 217,7 174,1 43,6 242,3 186,0 56,3 i.
Slide 24: Resilience of operating margins
24 EBITDA performance Resilience of operating margins Positive commercial effects in France EBITDA up +11.3% to €242.3m, or 21.8% of revenue In €m (vs. 21.5% at 12.31.23) Scope effect: +€21.5m On a like-for-like basis: EBITDA at 22.6% of revenue excluding energy effect Like-for-like (excluding energ
Slide 25: Stable Current operating income
25 Change in Current operating income Stable Current operating income One-off impact of provisions (France) In €m France International Amort. on MM&R (10,2) At December 31 2023 2024 In €m Consolidate France International Consolidated France International d Contributory sales 1013,5 748,5 265,0 1110,
Slide 26: From recurring operating income to Group net income
26 Main intermediate operating totals From recurring operating income to Group net income At December 31 2023 As % of 2024 As % of sales Gross Organic In €m sales change change Current operating income 101,2 10,0% 101,1 9,1% (0,1)% (14,3)% Operating income 91,4 9,0% 91,7 8,3% +0,3% (15,2)% Financial
Slide 27: Control of industrial investments
27 Industrial investments Control of industrial investments Targeted development investments Booked investments in €m Breakdown of booked investments Total CAPEX: 8.4% of contributed revenue (vs. 9.6% at 12.31.23) 97,2 17% 93,8 Non-recurring Capex Services: €9.3m 29,0 25,9 Circular eco.: €10.3m 38%
Slide 28: Control of WCR and recurring Capex
28 Cash generation Control of WCR and recurring Capex Strong generation of free operating cashflow In €m At December 31 2023 2024 EBITDA 217,7 242,3 Other operating income and expenses (0,6) (4,9) Rehabilitation and maintenance expenses on concession sites and assets (including ESM) (26,9) (31,0) Re
Slide 29: Net financial debt monitoring
29 Net financial debt monitoring Financial agility Net debt reduction on a like-for-like basis (and before IFRS 16) Cash change Acquisition impact and non-cash effects In €m Consolidated financial statements 2024 | March 6, 2025
Slide 30: Financial flexibility maintained
30 Financial situation Financial flexibility maintained Liquidity situation maintained at a high level Structure of gross financial debt (in €m) Improved liquidity situation (in €m) 1019,4 18,6 356,7 3,4 332,2 61 75,6 150,0 170,0 804,1 20,0 16,9 21,5 5,5 61,8 162,2 169,8 70,7 437,0 12.31.23 12.31.24
Slide 31: Debt maturity
31 Financial situation Debt maturity Gross financial debt repayment schedule (IFRS) (in €m) 392 356 332 333 320 138 97 102 95 66 76 47 50 49 Cash + RCF + Facility < 1 yr 1 - 2 yrs 2 - 3 yrs 3 - 4 yrs 4 - 5 yrs > 5 yrs Situation at 12.31.23 Situation at 12.31.24 Consolidated financial statements 2024
Slide 32: Targets 2025 - 2026
32 Outlook Targets 2025 - 2026 Baptiste Janiaud Chief Financial Officer Séché Group Peru teams - Kanay (Peru) Consolidated financial statements 2024 | March 6, 2025
Slide 33: Financial discipline: deleveraging and flexibility
33 Solid financial profile Financial discipline: deleveraging and flexibility Financial leverage < 3x within 12 months of acquisitions Generation of free operating cash flow* in €m 150 90% 112 101 70% 100 77 78 63 50% 49 50 38 42% 45% 45% 47% 46% 30% 35% 39% 0 10% 2018 2019 2020 2021 2022 2023 2024
Slide 34: 2025 objectives
34 Outlook 2024 - 2026 2025 objectives Continued growth and higher operating profitability • H1 2024 comparison basis low • France • Assumption of stable energy prices • Business resilience in solid markets with positive commercial effects Activity • International • Europe: solid markets (Italy, Spa
Slide 35: Horizon 2026: confirmation of Roadmap 2026 trends
35 Outlook 2025 - 2026 Horizon 2026: confirmation of Roadmap 2026* trends Organic growth: around +5% medium-term trend Gross operating profitability: around +1 pp per year Recurring operating profitability: around +2 pps per year Contribution to sales EBITDA in €m Operating income in €m on a like-fo
Slide 36: Appendices
36 Appendices Appendices Analysis laboratory - Interwaste (South Africa) Consolidated financial statements 2024 | March 6, 2025
Slide 37: Definition of contributory sales
37 APPENDICES Appendix 1 Definition of contributory sales IFRIC 12 sales: investments in concession assets recognized as sales and operating expenses under EBITDA in accordance with IFRIC 12. TGAP: General Tax on Polluting Activities paid by waste producers and collected on behalf of the State by tr
Slide 38: Contributory sales: details of scope effect
38 APPENDICES Appendix 2 Contributory sales: details of scope effect At December 31, 2024 - In €m France International Total Hazardous waste stream 0,0 82,6 82,5 Non-hazardous waste stream 0,6 20,2 20,9 Total 0,6 102,8 103,4 Change in scope of consolidation : Séché Assainissement Rhône-Isère -ARI- (
Slide 39: Breakdown of revenue by division
39 APPENDICES Appendix 3 Breakdown of revenue by division Non Hazardous: Revenue up 6.2% to €347.5m (reported data) Scope effect: €20.9m (Séché Assainissement 38 + RaD + Furia’s non- 20,9 hazardous business) On a like-for-like basis: Revenue (1.1)%. 326,6 France: sales €275.5m, + 0.9% vs. 12.31.23 3
Slide 40: Change in Operating Income
40 APPENDICES Appendix 4 Change in Operating Income At December 31 2023 2024 Gross change €m % Contributed Revenue €m % Contributed Revenue Contributed revenue 1 013,5 1 110,4 +9,6% EBITDA 217,7 21,5% 242,3 21,8% +11,3% COI 101,2 10,0% 101,1 9,1% (0,2)% Operating Income 91,4 9,0% 91,7 8,3% +0,3% RO
Slide 41: Net financial expense
41 APPENDICES Appendix 5 Net financial expense At December 31 - In €m 2023 2024 Gross cost of debt (26,1) (36,9) Cash and cash equivalents 2,9 4,6 Other financial income and expense 0,9 (3,2) Net financial income (22,2) (35,4) Change in gross cost of debt Average cost of gross debt at 3.52% (vs. 3.4
Slide 42: Non-financial performance 2024
42 APPENDICES Appendix 6 Non-financial performance 2024 Non-financial indicators 2020 2021 2022 2023 2024 2025 targets 2026 targets CLIMATE-ENERGY GHG emissions (ktCO )2 640 651 631 570 573 (-10%) 576 (-10%) 557 (-13%) Energy consumption (GWh) 459 489 456 428 430 (-6%) 413 (-10%) 404 (-12%) GHGs avo
Slide 43: Breakdown of shares and voting rights
43 APPENDICES Appendix 7 Breakdown of shares and voting rights Breakdown of capital shares at 12.31.24 Breakdown of voting rights at 12.31.24 18,0% 29,6% 0,7% 0,7% 4,4% 0,7% 1,2% 61,8% 7,2% 76,1% Total: 7,857,732 shares Total: 12,727,727 voting rights Séché Family Séché family Pégase-53 Pégase-53 Tr
Slide 44: Warning
44 WARNING This document may contain forward-looking statements. This information represents either trends or objectives at the date of this document, and should not be regarded as forecasts of results or any other performance indicator. By their very nature, these statements are subject to risks an