Séché Environnement : Resilient Activity in Q1 2009; Outlook for 2009 Confirmed

At March 31, 2009, Séché Environnement’s consolidated revenue totalled EUR 87.8 million, vs. EUR 91.3 million in Q1 2008.

This slight contraction can be attributed to the weaker start to the quarter, which was partially offset towards the end of the quarter by a more satisfactory level of activity in light of the current climate.

Consolidated data in EUR m (under IFRS)

Q1 activity saw varying trends between HW and NHW on the one hand, and between France and International Activities on the other hand:

-- Hazardous Waste Division (70% of revenue): activity was robust in France; the division’s revenue was primarily impacted by a poor International showing.

• In France, the division's activity was driven by a strong performance in markets subject to restrictive regulations (PCB, de-watering, etc.) and by solid contracts signed with local authorities (hazardous waste storage).
  At -1.7%, it was mainly impacted by the decline in activities with a direct link to industrial output, such as solvent regeneration and physical-chemical treatment;

• Concerning International subsidiaries (5% of consolidated revenue), activity was hurt by the poor performance of solvent regeneration activities (Valls Quimica in Spain).
  Revenue at constant exchange rates amounted to EUR 4.8 million versus EUR 5.6 million in Q1 2008, i.e. a drop of 14.2% (at constant exchange rates, the revenue generated by International subsidiaries would have been EUR 5.5 million at March 31, 2008).

-- Non Hazardous Waste Division (30% of revenue): the division benefited from its main positioning in treatment activities, less sensitive to more cyclical activities such as recycling and recovery of materials.
The division’s development reflects a reduction in volumes that failed to be offset by the initial sales of electricity generated from biogas recovery. At March 31. 2009, sales of green electricity accounted for EUR 1.3 million.
Consequently, revenue dipped by 6.3% on Q1 2008 to EUR 25.9 million.

Outlook

Séché Environnement boasts a number of key strengths capable of maintaining its level of activity in a harsher economic environment.

The diversity of industrial clients, the Group’s solid presence in regulated markets, and the substantial business generated with local authorities all combine to reduce Séché Environnement’s sensitivity to the economic cycle.

In today’s economic climate, and in light of the first quarter’s activity, Séché Environnement is maintaining its scenario of stable financial items and stable balance sheet ratios for the financial year in progress.

Hime-Saur's consolidated revenue at March 31, 2009

At March 31, 2009, Hime-Saur’s consolidated revenue totalled EUR 354.9 million, vs. EUR 369.1 million in Q1 2008 (at constant exchange rates, revenue at March 31, 2008 would have been EUR 367.7 million).

This decline can be primarily attributed to:

• Water: strong performance in operations in France (+1.9% -excluding Stereau-), hampered by sluggish activity in Spain and the devaluation of the Polish zloty;
• Sanitation: deteriorating environment in the sorting and recycling businesses, which were affected by the decline in non hazardous industrial waste volumes and the drop in secondary commodities prices.

Consolidated data in EUR m (under IFRS)

A conference call will be held today (in French) at 6.00 p.m. (Paris time)
at the following number:
+331 7200 1361
where a hostess will welcome you.

The revenue presentation is also available at:
http://www.groupe-seche.com/majic/pageServer/1e0101000m/en/Presentations-SFAF.html

Calendar:

Release of consolidated revenue figures at June 30, 2009 on July 28, 2009 (after market)

About Séché Environnement

Séché Environnement (Paris:SCHP) is one of the leading players in the treatment and storage of all types of non-radioactive industrial and household waste in France. Its facilities enable it to offer high-quality global solutions that incorporate all environmental requirements.

It is the leading independent operator in the country with a unique positioning at the hub of the high value-added waste recovery, treatment and storage markets.

The Group offers integrated specialized services:

• treatment (by incineration, physical-chemical treatment and solvent regeneration) and processing for energy recovery of hazardous and non-hazardous industrial waste (HIW and NHIW);
• storage of final residue comprised of hazardous or non-hazardous industrial waste (HIW and NHIW).

In April 2007, Séché Environnement acquired a 33% stake in Saur Group, the No. 3 player in the Water and Environmental Services sector in France. Since May 2008, Séché Environnement has held an option to purchase an 18% stake in Hime, the parent holding company of Saur Group, allowing Séché Environnement to assume ownership of Saur Group by May 2012.

Séché Environnement has been listed on Eurolist by Euronext since November 27, 1997.

Eurolist - Compartment B – ISIN: FR 0000039109 – Bloomberg: SCHP.FP – Reuters: CCHE.PA)

Important notice

This press release may contain information of a provisional nature. This information represents either trends or targets at the date of the press release's publication and may not be considered as results forecasts or as any other type of performance indicators. This information is by nature subject to risks and uncertainties which are difficult to foresee and are usually beyond the Company's control, which may imply that expected results and developments differ significantly from announced trends and targets. These risks notably include those described in the Company’s Registration Document, which is available on its website at www.groupe-seche.com. This information therefore does not reflect the Company’s future performances, which may differ significantly therefrom, and no guarantees can be given regarding the achievement of any provisional figures. The Company makes no commitment on the updating of this information. More comprehensive information on the Company may be obtained in the Documentation section of its website at www.groupe.seche.com. This press release represents neither an offer of shares nor a solicitation in view of an offer of shares in any country whatsoever, including the United States. Distribution of this press release may be subject to the laws and regulations in force in France or abroad. Persons in possession of this press release must be aware of these restrictions and observe them.