Séché Environnement (SCHP) Q3 2026 TU earnings summary

Executive summary

• Q3 contributed revenue was €308.8m, up 11.4% reported and 4.6% organically, reflecting France’s return to growth and sustained international momentum.

• 9M contributed revenue reached €916.6m, up 6.9% reported and 0.2% organically; FY2026 revenue guidance was reaffirmed.

Financial highlights

• 9M contributed revenue was €916.6m versus €857.4m in 9M 2025.

• The 9M revenue bridge included a €53.0m scope effect, led by Hidronor (€37.5m) and La Filippa (€15.5m), plus a positive €4.3m FX effect.

• Q3 consolidated revenue was €330.2m versus €295.5m; contributed revenue was €308.8m versus €277.3m.

• Non-contributed revenue was €65.7m versus €50.9m: IFRIC 12 investments were €12.5m versus €0.6m, and TGAP was €53.2m versus €50.3m.

Outlook and guidance

• FY2026 contributed revenue target confirmed at €1,230m–€1,260m, like-for-like and at constant exchange rates, with 2%–3% organic growth and a dynamic contribution from acquisitions.

• Q4 France activity is expected to remain resilient against a low prior-year base; continued growth is expected across the main international regions.

• Positive trends are expected to continue, although France’s outlook remains subject to an uncertain macroeconomic environment.