Long-Term Growth Strategy and Profitable Growth Prospects Confirmed Accelerated Creation of Synergies and Implementation of a Performance Plan
PARIS, November 26 /PRNewswire-FirstCall/ -- GDF SUEZ is holding its
first Investor Day in Paris on November 26, 2008.
- The teams of GDF SUEZ have been working since July 22, 2008
to implement within the new company the strategic plan and the clear,
ambitious and unifying objectives that were approved by shareholders
at the Annual General Meeting. These have now been put in place and GDF
SUEZ is one of the most robust companies in the sector.
- The Group's excellent first nine months results confirm the strength
and resistance of a balanced, diversified and flexible business model
operating in markets with long-term growth prospects.
- The Group confirms its long-term industrial strategy and notes that the
fundamental challenges of the energy sector which led to the merger of
SUEZ and Gaz de France remain unchanged by the current economic crisis.
- GDF SUEZ confirms its medium-term industrial and financial objectives:
- Implementation of an industrial investment program of EUR30 billion net
over the period 2008-2010.
- EBITDA target of EUR17 billion by 2010 and growth of more than 10% in
2008(1).
- Keep a strict financial discipline with a strong "A" credit rating.
- The Group also confirms its attractive shareholder return
objectives : a dividend payout target of over 50% of recurring net
income Group share and average annual growth of 10% to 15% for ordinary
dividends paid between 2007 and 2010. In compliance with new dividend
payment policy(2), on November 27 the Group will pay an interim
ordinary dividend of EUR0.80/share, i.e. EUR1.7 billion in total. In
addition, an exceptional dividend of EUR0.80/share will be added to
payment of the final ordinary dividend in May 2009. Finally, GDF SUEZ,
which has already bought back EUR500 million of shares since September
1, 2008, confirms the EUR1 billion objective and defers the execution
of the balance until the May 2009 Annual General Meeting.
- The Group has also provided a swift response to the rapid change in the
economic environment:
- The Group announces the EUR1.8 billion "Efficio" global
performance plan which will be implemented between now and 2011. This
project brings together the synergies plan launched at the time of the
merger and the completion of which will be accelerated beyond the
initial objectives announced in the autumn of 2007, and the
introduction of a new performance plan of EUR1 billion.
- GDF SUEZ has taken immediate steps to strengthen its liquidity position
with the successful launch of a bond issue for almost EUR3 billion on
the euro, pound sterling and Swiss franc markets.
Four months after completion of the merger, the key objectives of this
day are to:
- present the strategy and performance objectives of GDF SUEZ
in the energy sector, and the financial highlights of the Group.
- present all the Group's energy activities as represented by the
business lines Energy France, Energy Europe and International, Global
Gas & LNG, Infrastructures and Energy Services. The presentations will
describe the main assets, growth drivers, industrial data and
objectives, development strategy and investment program of each
business line.
- provide a detailed presentation of the GDF SUEZ proforma annual
2007 and 2008 half-yearly accounts broken down by business line and
provide additional information on 2008 3rd quarter accounts on old to
new business line tables.
The presentations will be posted on the Group's website
http://www.gdfsuez.com
Future events
27 November 2008: payment of an interim dividend of EUR0.80 per share(3)
17 December 2008: Extraordinary General Meeting to decide on the proposal
to assign subsidiary status to LNG terminals and natural gas storage
facilities in France
2009 communication calendar
- 2008 annual results: March 5, 2009
- 2009 1st quarter sales: May 4, 2009
- Annual General Meeting: May 4, 2009
One of the leading energy providers in the world, GDF SUEZ is active
across the entire energy value chain, in electricity and natural gas,
upstream to downstream. It develops its businesses (energy, energy services
and environment) around a responsible-growth model to take up the great
challenges: responding to energy needs, ensuring the security of supply,
fighting against climate change and maximizing the use of resources. GDF SUEZ
relies on diversified supply sources as well as flexible and high-performance
power generation in order to provide innovative energy solutions to
individuals, cities and businesses. The Group employs 196,500 people
worldwide and achieved revenues of EUR74.3 billion in 2007. GDF SUEZ is
listed on the Brussels, Luxembourg and Paris stock exchanges and is
represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50,
DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and ASPI
Eurozone.
Forward-looking statements
This communication contains forward-looking information and statements.
These statements include financial projections and estimates and their
underlying assumptions, statements regarding plans, objectives and
expectations with respect to future operations, products and services or
future performance. Although the management of GDF SUEZ believes that these
forward-looking statements are reasonable, investors and holders of GDF SUEZ
shares are warned that forward-looking information and statements are subject
to various risks and uncertainties, many of which are difficult to predict
and generally beyond the control of GDF SUEZ, that could mean expected
results and developments differ significantly from those expressed in, or
implied or projected by, the forward-looking information and statements.
These risks include those discussed or identified in the public filings made
by GDF SUEZ with the Autorite des marches financiers (AMF) and/or with the
United States Securities and Exchange Commission (SEC), including those
listed under "Facteurs de Risques" (Risk factors) sections in the Document de
Reference filed by Gaz de France with the AMF on May 15, 2008 (under no:
R.08-056), in the Document de Reference filed by SUEZ on March 18, 2008
(under no: D.08-0122) and its update filed on June 13, 2008 (under no:
08-0122-A01), in section 3 of the prospectus prepared for the issue and
admission for listing of GDF SUEZ shares resulting from the merger takeover
of SUEZ by Gaz de France filed with the AMF on June 13, 2008 (under no:
08-126) and the Form F4 registered with the SEC on June 16, 2008. Investors
and holders of GDF SUEZ securities should note that the occurrence of some or
all of these risks may have a significantly adverse effect on GDF SUEZ.
(1) This target assumes average weather conditions and the absence of any
significant change in the price of oil products and regulations across Europe
(2) Payment of an interim dividend in the second half of the current year
(3) Coupon clipping date: November 24, 2008
SOURCE GDF SUEZ
