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Veolia publishes “record” results for the first half of the year

2021-07-29T08:48:07.905Z

The world number one in environmental services is back in the green for the first six months of the year.



Veolia, world number one in environmental services, returned to the green in the first half of the year, far from the net loss recorded a year earlier in the midst of the pandemic, and in the process raised its forecasts for the year.

The CEO of the group Antoine Frérot, quoted in the press release released Thursday, hailed “

record results

”.

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In the first six months of the year, the net profit amounted to 301 million euros, against a net loss of 138 million at the same time last year, and the turnover to 13.645 billion euros. euros (+ 9.9% over one year).

The CEO of the group Antoine Frérot, quoted in the press release released Thursday, hailed “

record results

”.

In the first six months of the year, the net profit amounted to 301 million euros, against a net loss of 138 million at the same time last year, and the turnover to 13.645 billion euros. euros (+ 9.9% over one year).

In the wake of these results, the group announced the raising of its objectives for 2021, now counting on a gross operating surplus (EBITDA) of over 4.1 billion euros (against more than 4 billion previously).

Ebitda at the end of June reached 2.081 billion, up 30.1% over one year.

Growth driven by the “

Waste

activity

Veolia's performance accelerated in the second quarter, when the rebound was “

above expectations

”.

The group was driven by the Waste business, which returned to most of its 2019 levels in the second quarter, with revenue up 27.1% at constant exchange rates.

Prices are strong, especially for recycled materials.

Veolia also recorded very strong growth in the treatment of toxic waste, with sales up 18% compared to the same period in 2020, and 15.7% compared to 2019. In the water, Veolia recalled the signing of major contracts: management of drinking water for the city of Miyagi in Japan, reuse of wastewater for drinking water purposes in Vendée.

In the energy sector, the group was driven by sustained activity in Eastern Europe. “

As Veolia is preparing to acquire Suez, our Group has never been so strong,

” said Antoine Frérot. The first half of 2021 ended with the formalization of the agreement reached with Suez, after eight months of epic battle. At the end of June, Suez's board of directors recommended its takeover, concretizing the agreement reached in April for Veolia to take over a large part of its historic rival.

Veolia announced Wednesday evening that its Executive Committee will be made up of "

a quarter of members from Suez as of the closing date of the merger between the two groups

", with the recruitment of four senior executives from Suez. The takeover bid must be finalized "

by the end of the year

", in particular pending the authorization procedures of the competition authorities.

Source: lefigaro

All business articles on 2021-07-29

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