Strong growth across all segments in Q1 2024
Paris, May 28th, 2024 - Saur Group reported Q1 2024 revenues of €533 million, up +9.9% year-on-year and +7.2% organic.
Patrick Blethon, Executive Chairman and Chief Executive Officer of Saur said: “In Q1 2024, Saur continued its trajectory of strong growth, recording an increase of +9.9% across all business lines. Our water services activities saw significant growth driven by catch-up price indexation and good commercial dynamism. Furthermore, the successful acquisitions of Natural Systems Utilities (NSU) in the United States and Ekos Poznan in Poland further enhance our portfolio, reinforce our business model focused on water technologies, and expand our global presence. New organization in France paves the way for greater customer proximity and strategic agility.”
KEY FIGURES
Reported growth was +9.9% in Q1 and +7.2% organic.
Strong growth recorded across all business activities:
- Water services France reported growth of +7.7% underpinned by price effects through indexation mechanisms, improved works momentum and commercial success.
- Industrial water solutions achieved double-digit growth of +17.1% in Q1 2024. The strategic acquisition of Natural Systems Utilities (NSU), thanks to highly complementary expertise, fosters new portfolio and geographic synergies.
Water services International revenue increased by +9.7% driven by price increase and favorable volumes, as well as the recent acquisition of Ekos Poznan in Poland.
OUTLOOK
FY2024 outlook:
- Revenue growth: Double digits
- EBITDA margin improvement
- Committed to deleveraging
DISCLAIMER
We are providing this information voluntarily, and the material contained in this announcement is presented solely for information purposes and is not to be: (i) construed as providing investment advice; (ii) relied upon or the form the basis for any investment decisions; or (iii) regarded as a recommendation or an offer to sell, or a solicitation of any offer to buy any securities or other form of financial asset.
This presentation contains forward-looking statements which are based on current plans and forecasts of Saur’s management. Such forward-looking statements are by their nature subject to a number of important risk and uncertainty factors that could cause actual results to differ in a variety of substantial and very material respects from the plans, objectives and expectations expressed in such forward-looking statements.
No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed therein.
These such forward-looking statements speak only as of the date on which they are made, and Saur undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise (and has no notification obligations to any person in this regard). It should not be regarded by recipients as a substitute for the exercise of their own judgment. Neither Saur, nor any of its directors, officers, employees, affiliates, direct or indirect shareholders, advisors or agents accepts any liability for any direct, indirect, consequential, or other loss or damage suffered by any person as a result of relying on all or any part of this announcement and any and all liability is expressly disclaimed.