Q1 2025 Sales: Growth of +1.3% recorded

Paris, May 28th, 2025 - Saur Group reported Q1 2025 revenues of €540 million, up +1.3% year-on-year.

Patrick Blethon, Chief Executive Officer of Saur said: “In Q1 2025, Saur delivered resilient growth

with revenues of €540 million, up +1.3% year-on-year, despite a challenging macroeconomic context.

This solid performance demonstrates the strength of our diversified business model—geographically

balanced and supported by a mix of complementary expertise. Strong momentum in our international

activities, particularly in Spain and French Overseas Territories, helped offset phasing effects in France

and Industry, giving us continued confidence in our trajectory for the rest of the year.”

KEY FIGURES

Reported growth was +1.3% in Q1
Resilient growth impacted by negative phasing effect recorded in Q1:
• Water services France reported a decrease of (3.7)% due to phasing effect on works.
• Industrial water solutions recorded a growth of +0.8% in Q1 2025 on the back of a high
comparison basis in Q1 2024, despite macroeconomic uncertainty and timing of project delivery.
Strong backlog execution and additional projects will deliver further growth in the remainder of
the year.
• Water services International achieved double-digit growth of +23.4% in Q1 2025 mainly driven
by unitary price increase and favorable economic rebalancing signed in Spain as well as new
projects started in the French Overseas Territories. The acquisition of CTGA in 2024 in Portugal
also contributed to growth.

OUTLOOK
FY2025 outlook:
• Revenue: Robust organic growth
• EBITDA: Operational excellence and costs focus
• Continued 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 forwardlooking 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.