Seche Environnement falls on lower-than-expected profitability

Seche Environnement SA

12/09/2023 09:14

** Shares in Seche Environnement  CCHE.PA  fall around 6%
after the waste management company posted lower-than-expected H1
profitability
    ** The company's H1 EBITDA stands at 102 million euros 
($109.26 million) while its current operating income comes in at
45 million euros
    ** Portzamparc says organic growth was in line with its
forecasts but profitability was slightly lower due to the
group's 2022 acquisitions
    ** "They contributed 34.6 million euros to sales, but a
negative 1.3 million euros to EBITDA and 3.0 million euros to
operating income", the broker adds
    ** The shares are on track for their worst day since October
2022


($1 = 0.9335 euros)

 (Reporting by Augustin Turpin)
 ((augustin.turpin@thomsonreuters.com))