5.11.2003: Meldung: SUEZ agrees sale of Nalco for USD 4.350 billion
- is in line with the objectives of the SUEZ 2003-2004 action plan announced January
9, 2003, namely, to improve profitability and strengthen the Group"s financial
- reduces Group"s net debt.
- improves SUEZ return on capital employed (ROCE): 9.1% ROCE for global
businesses in 2002, excluding Nalco, to be compared with 8.6% ROCE for global
businesses in 2002.
- sharpens the Group structure.
Total disposals carried out since February 2003 have contributed EUR 10 billion to reducing SUEZ debt2. Therefore, already in 2003, the Group has achieved one of the principal goals of the Action Plan, namely, to reduce its net debt (which stood at EUR 28 billion at June 30,
2002) by one-third. Net debt came at EUR 16.5 billion, pro forma at June 30, 20033.
Following the transaction, Nalco will be accounted for under the equity method from
1st January 2003 until november, 5, 2003. Excluding Nalco, SUEZ 9 months revenues at September 30, 2003 were EUR 28.7 billion, up 4.4%, with an organic revenue growth of 8.4%.
SUEZ,(www.suez.com) a worldwide industrial and services Group, active in sustainable development, provides companies, municipalities, and individuals innovative solutions in Energy - electricity and gas - and the Environment - water and waste services. In 2002, SUEZ generated revenues of EUR 40.218 billion (excluding energy trading). SUEZ is listed on the Euronext Paris, Euronext Brussels, Luxembourg, Zurich and New York Stock Exchanges.
Disclaimer Regarding Forward-Looking Statements
This press release contains certain forward-looking statements, particularly with respect to future events, trends, plans or objectives, such as debt reimbursement maturities, operational profitability resulting in cost reductions level of investments and the impact of the Action Plan and the results. These statements are based on management"s current views and assumptions and involve a number of risks and uncertainties which may lead to a significant difference between actual results and those suggested either explicitly or implicitly in these statements (or suggested by past results). Additional information about these risks and uncertainties appears in documents filed by SUEZ with the U.S. Securities and Exchange Commission and the French Commission des Opérations de Bourse. The present forward-looking statements are offered as of the date of release, with no undertaking by SUEZ to update or revise them, whether in connection with new information, future events, or any other factor.
France: Financial analyst contacts :
Anne Liontas: 331 40 06 66 54 Arnaud Erbin: 331 40 06 64 89
Antoine Lenoir: 331 40 06 66 50 Bertrand Haas: 331 40 06 66 09
Belgium: Guy Dellicour: 322 507 02 77