4.3 percent: Veolia nine-month 2017 revenue increased

Paris, France — According to key figures, Veolia Group`s consolidated revenue increased 3.7 Prozent (+4.4 Prozent at constant exchange rates) from represented €17,569 million for the nine months ended September 30, 2016 to €18,221 million for the nine months ended September 30, 2017. Revenue in the third quarter increased by 4.3 percent.

Antoine Frérot, Veolia Environnement’s Chairman and CEO commented: “Veolia’s 9-month results are satisfying, and support our strategy of growth and efficiency. The solid development of our revenue is confirmed, as announced at the beginning of the year. Good commercial momentum and revitalized attractiveness of our offerings resulted in new contract awards across all our businesses and geographies. For example, we have signed a new 10-year hazardous waste treatment contract with Antero Resources, an oil and gas producer in the United States, and renewed the contract to operate the Le Mans wastewater treatment plant for a period of 12 years. In addition, the successful framework and execution of our efficiency programs allowed us to achieve cost savings in line with our objectives. All in all, the combination of profitable growth and cost savings translates into an overall acceleration of EBITDA and earnings, in line with our plan. These results allow me to fully confirm our objectives.”

At constant exchange rates and excluding the impact of construction and energy prices, nine-month revenue increased 4.9 Prozent.

  • In France, revenue was almost stable for the nine months (-0.7 Prozent), but grew 1.2 Prozent at constant consolidation scope. Water was stable (+0.1 Prozent) but showed gradual improvement due to volume growth (+1 Prozent) and price indexation which improved to +0.4 Prozent in the third quarter after -0.3 Prozent in the first and second quarters. The Waste business recorded a decline of 1.6 Prozent, but at constant consolidation scope increased 2.9 Prozent due to good commercial momentum, volumes up by 2.1 Prozent (+3.5 Prozent in Q3) and the positive effect of higher recycled material prices.
  • Europe excluding France revenue was up sharply, +6.5 Prozent at constant exchange rates for the nine-month period and up 8.1 Prozent during the third quarter. All regions recorded sustained growth, with the exception of Italy (-2.8 Prozent). Germany increased 4.9 Prozent due to good commercial performance in Waste and higher paper prices. UK revenue improved 5.1 Prozent given continued strong PFI performance, good commercial momentum and higher recycled material prices. Central and Eastern Europe revenue increased 10.3 Prozent due to good volumes in Energy given favorable weather in the first half of 2017 and the contribution of the Prague Left Bank district heating network, as well as good water volumes. In addition, Nordic countries also posted good performance with revenue up 12.2 Prozent, while the Iberian Peninsula grew revenue 11.5 Prozent.
  • At constant exchange rates, the Rest of the World segment continued to record strong revenue growth for the nine-month period (+10.6 Prozent), with Q3 revenue up 9.4 Prozent. North America revenue increased 11.6 Prozent due to the integration of Chemours’ sulfuric acid regeneration business and the benefit from higher energy prices in the municipal business. Industrial services revenue remains down. Revenue in Asia progressed 22 Prozent, with in particular, 30.3 Prozent growth in China, which continues to benefit from commercial successes. Japan and South Korea also recorded revenue growth. Latin American revenue increased 22.4 Prozent, due to good development in Argentina, Brazil and Columbia. Australia revenue recovered, with third quarter revenue up 8.2 Prozent.
  • Global Businesses revenue declined by 1.3 Prozent at constant exchange rates. Hazardous waste activities continue to grow at a good pace (+4.5 Prozent). Veolia Water Technologies construction revenue fell 8.7 Prozent during the nine-month period, however YTD bookings increased 10 Prozent. The SADE business recorded a good performance in France, but delays in the start-up of international projects resulted in an overall revenue decline (-2.9 Prozent).

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Source: Veolia




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