Paris, France — In 2017, Veolia achieved revenue of €25,125 million, 4.9 percent and 3.5 percent like-for-like growth. All financial indicators are on green: Ebitda is up 2.7 percent to € 3,284 million, the cost savings target for the year was achieved with €255 million realized, and post-tax ROCE increased to 8.4 percent. These good results, combined with the commercial reinforcement launched a year ago, mean the 2018-2019 targets can be fully confirmed.
Revenue in the Europe excluding France segment posted a 6.4 percent growth at constant exchange rates. All regions recorded steady growth with the exception of Italy (-1.6 percent). Germany increased 5.6 percent due to good commercial performance in Waste, higher services prices, and the positive impact of higher paper prices. Revenue in the United Kingdom & Ireland combined was up 5.2 percent with good commercial momentum and higher recycled raw materials prices. The Central and Eastern European region increased 7.9 percent due to higher heat and electricity volumes sold, with a slightly favorable weather benefit, as well as strong water volume growth (+9.4 percent) given the Armenia contract expansion. The Nordic countries also recorded a strong performance (+23.7 percent) as did the Iberian Peninsula (+12.2 percent).
In France, waste revenue declined slightly (-0.7 percent) but was up 3.5 percent at constant consolidation scope (divestment of Bartin recycling at the end of November 2016). Waste volumes grew 1.9 percent due to significant contract awards, good landfill volumes, as well as good trends in sorting and recycling and commercial collection. Waste revenue in France also benefited from higher paper prices (+10 percent y-y).
Antoine Frérot, Veolia’s Chairman & CEO indicated: „2017 has been an intense and successful year for Veolia and was fully in line with the growth trajectory we are aiming for. Sales growth accelerated throughout the year due to actions implemented at the end of 2016. Results growth was amplified quarter after quarter thanks to our commercial successes, and continued discipline on our part in terms of cost reductions. Over the last 4 years, Ebitda has risen by 20 percent, current Ebit by 75 percent and current net income has more than tripled. The sum total of these results allows me to approach 2018 with confidence. Revenue and earnings should again post good growth. Our 2018 and 2019 objectives are entirely confirmed.
The full, detailed annual results 2017 can be downloaded under veolia.com.
Source: Veolia Group