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presented by October France



24 months


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Courbevoie, France



Marketing surveys & consulting

Presentation of the company

More than ever, innovation is at the heart of the SUEZ Group’s concerns. This is why we support the initiative launched by October through the "Grandir Ensemble" operation.

The circular economy is radically changing the traditional business models of large groups and companies: from a traditional system based on an almost exclusive relationship with customers and investors, it favours the development of a multiple and collaborative ecosystem, composed of very small businesses, start-ups, social entrepreneurs and local economic actors.

Through its activities with its customers, SUEZ is a particularly committed player in this circular economy. The Group now considers that the role of a company is to create and promote the development of these new ecosystems, which make it possible to irrigate economic activity and help citizens in the territories.

By 2050, the world’s population is expected to reach 9.7 billion, concentrated mainly in cities. 40% of the population will live in areas of water stress and minerals such as zinc, iron or copper would be depleted.

These prospects require us to reinvent our ways of managing, producing and consuming resources to meet the challenges of cities and industries, faced with climate change and the exponential growth of their populations.

As an expert in water and waste management for 150 years, SUEZ is fully committed to the climate revolution. The Group is putting all its innovative capacity at the service of a radically new management of resources: optimizing uses by exploiting the full potential of new technologies and digital technology, recycling, recovering, producing secondary raw materials and alternative resources… Supporting our customers in the transition from a linear model that over-consumes resources to a circular economy that recycles and enhances them.

With 90,000 employees on five continents, SUEZ is a world leader in intelligent and sustainable resource management. The Group recycles 17 million tonnes of waste per year and produces 3.9 million tonnes of secondary raw materials, as well as 7 TWh of local and renewable energy. It also conserves water resources, serving 58 million people with sanitation services and reusing 882 million m3 of wastewater.

In 2017, SUEZ generated revenues of €15.9 billion.

SUEZ was listed on the EURONEXT Paris market in July 2008.

The Moody’s rating agency confirmed the A3 rating for the SUEZ group in January 2018. 

Project Description

The group wishes to borrow €100,000 over 24 months as part of the Grow Together operation.

Thanks to the Grow Together operation, 11 major groups will lead the way in diversifying sources of financing for SMEs by borrowing on a lending platform.

Large groups are used to borrowing outside the banking system and diversifying their sources of funding. They have simple and easy access to credit.

In October 2014, a new regulation opening a breach in the banking monopoly allowed SMEs to borrow directly from individuals and institutions, in addition to their banks. Small and medium-sized companies can now do as larger ones.

AccorHotels, The Adecco Group, Allianz France, Arkéa, Edenred, ENGIE, Iliad, JC Decaux, SUEZ, Unibail-Rodamco-Westfield and Webhelp are joining the transaction and showing their VSE/SME ecosystem that they can now finance themselves differently, thanks to lending platforms.

These 11 major sponsors, each borrowing €100,000 from October, give their VSE/SME partners the right to borrow up to €1,000,000 each, without any upfront fee.

This project, which is part of the Grow Together operation, is only available to individual investors on the platform. Unlike all the other projects presented on the platform, institutional investors and October’s management cannot lend on the projects of this campaign. 

Analyst’s Opinion

The borrower is a holding company whose revenues are derived from services invoiced to its subsidiaries. The financial analysis was carried out on consolidated financial statements, which reflect the Group’s performance.

With a turnover of €15.87 billion in 2017 and an experienced team, the group has a good track record combined with a double-digit operating margin.

The increase in revenue is based on organic growth in the Recycling Europe and Water Europe divisions and on external growth with the acquisition of GE Water.

The forecast has been prepared on the basis of the 2017 financial statements.

The group has an excellent repayment capacity with a projected Fixed Charge Cover Ratio (FCCR) of 2.18 and a solid financial structure, with a projected net debt/EBITDA ratio of 0.1 and a net debt/equity ratio of 2%. 

The analysis of the project leads to a credit rating of A+ and an annual interest rate of 2.50%.

*The multiple of CCRF at 2.18 means that the company has a safety margin of 118% in relation to its ability to repay its credit maturities.

The expert opinion is given for information purposes on the basis of the information provided by the project leader and information from our databases (Scores & Decisions, Corporate Banking File). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.

Strong points:

  • Good historical performance based on a diversified customer base.
  • Excellent repayment capacity with a projected CCRF of 2.18
  • Major player in the environmental sector with a good track record.

Point of caution:

  • Exposure to climatic hazards