We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Veolia Environnement SA | EU:VIE | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.36 | -4.64% | 27.92 | 27.85 | 28.00 | 29.14 | 27.40 | 29.14 | 7,043,491 | 16:40:00 |
(non audited IFRS data)
ANOTHER QUARTER OF STRONG RESULTS GROWTH THANKS TO RIGOROUS GROUP MANAGEMENT
9 MONTH EBITDA UP BY +7.7 %(1) AND CURRENT EBIT UP BY +14.2 %(1)
STRONG NET FREE CASH FLOW GENERATION AT 30 SEPTEMBER LEADS TO DECREASE IN NET FINANCIAL DEBT
2023 TARGETS FULLY CONFIRMED, WITH EBITDA(1) GROWTH AT THE TOP END OF THE RANGE OF +5% to +7% AND LEVERAGE RATIO NOW EXPECTED BELOW 2.9x(2)
1 at constant scope and forex 2 Excluding Suez purchase price allocation
Regulatory News:
Veolia Environnement (Paris:VIE):
Estelle Brachlianoff, Group CEO, commented : “After an excellent first half with strong growth, Veolia continued its momentum in the third quarter with solid growth in activity and earnings, at rates comparable to those seen in the first half of the year. EBITDA at 30 September was up by 7.7% and current EBIT by 14.2%.
This very strong performance is underpinned by solid fundamentals such as our resistance to inflation, thanks to the indexation of 70% of our contracts to cost increases, our very low exposure to macroeconomic conditions, and our geographical positioning, with close to 40% of sales outside Europe, including almost $5 billion on a yearly basis in the United States.
The rigorous management of all our activities, as well as the exemplary delivery of synergies following the merger with Suez, are bearing fruit, and synergies are even well ahead of plan, as we reached our annual target in 9 months.
This quarter, Veolia once again demonstrated its ability to take advantage of the strong potential of the environmental services market, driven by growth in demand and tighter regulations, particularly on decarbonisation, water savings and pollution control. This commercial momentum was illustrated in the third quarter by the award of a €2 billion contract in Hong Kong, which will save 10 million tonnes of carbon, and record order intake of €3.1 billion in water treatment technologies, in which we are the leader.
These fundamentals - tight management and unique positioning - mean that we can look to the future with confidence and determination, fully confirming our 2023 targets and now aiming for leverage of less than 2.9x at the end of the year, just 18 months after the acquisition of Suez.”
Detailed figures at 30 September 2023
Revenue growth by effect breaks down as follows:
The currency effect was a negative €664 million (-2.2% of sales), mainly reflecting fluctuations in the US, Argentinean, Australian, British and Chinese currencies, partly offset by a rise in the Polish and Czech currencies.
The scope effect of -€183 million (-0.6%) mainly includes the impact of the remedies required by the European Commission and the UK Competition Market Authority, implemented in 2022 as part of the acquisition of Suez, as well as the impact of the disposal of Advanced Solutions (United States), completed on 23 February 2023. The effect of these disposals is offset by the adjustment of the first 17 days of 2022 in the Suez scope before the takeover (+400 million euros), and by the inclusion of Lydec (Morocco) in the scope.
The Commerce / Volumes / Works effect amounted to +676 million euros (+2.2%) thanks to good volumes in energy, a good level of works, and growth in our Water technology activities.
The climate effect was moderate, amounting to -110 million euros (-0.4%). The Energy business in Central and Eastern Europe suffered the impact of a milder winter than in 2022, while the Water business in Spain, the United States and France suffered the impact of a wet summer, which affected water volumes.
The impact of energy and recycled materials prices amounted to €1,548 million (+5.1%), driven by higher heat and electricity tariffs, mainly in Central and Eastern Europe. This increase was partially offset by lower prices for recycled materials in Europe.
The price effect was very favorable at €1,181 million (+3.8%), mainly due to price indexation mechanisms and increases in the price of the Group's services.
Revenues at 30 September 2023 progressed across all operating segments compared with 30 September 2022 :
******************
In view of the very good 9M performance, our 2023 targets have been fully confirmed, with organic EBITDA growth at the upper end of the +5% to +7% range, and a leverage ratio now expected below 2.9x
Objectives 2023 (1)
(1)
At constant scope and forex
(2)
Before Suez PPA
(3)
Current net income per share after hybrid costs and before PPA
Agenda
11 January 2024 :
Deep dive Energy
29 February 2024 :
2023 Results and Strategy Day
April 2024 :
Deep dive USA
Summer 2024 :
Deep dive Water Technology and Innovation
About Veolia
Veolia Group aims to become the benchmark company for ecological transformation. Present on five continents with nearly 220,000 employees, the Group designs and deploys useful, practical solutions for the management of water, waste and energy that are contributing to a radical turnaround of the current situation. Through its three complementary activities, Veolia helps to develop access to resources, to preserve available resources and to renew them. In 2022, the Veolia group provided 111 million inhabitants with drinking water and 97 million with sanitation, produced 44 terawatt hours of energy and recovered 61 million tonnes of waste. Veolia Environnement (Paris Euronext: VIE) achieved consolidated revenue of 42 885 million euros in 2022. www.veolia.com
Important disclaimer
As the changes in the health crisis are difficult to estimate, we draw your attention to the “forward-looking statements” that may appear in this press release and relating to the consequences of this crisis which may affect the future performance of the Company.
Veolia Environnement is a corporation listed on the Euronext Paris. This press release contains “forward-looking statements'' within the meaning of the provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including but not limited to: the risk of suffering reduced profits or losses as a result of intense competition, the risk that changes in energy prices and taxes may reduce Veolia Environnement’s profits, the risk that governmental authorities could terminate or modify some of Veolia Environnement’s contracts, the risk that acquisitions may not provide the benefits that Veolia Environnement hopes to achieve, the risks related to customary provisions of divestiture transactions, the risk that Veolia Environnement’s compliance with environmental laws may become more costly in the future, the risk that currency exchange rate fluctuations may negatively affect Veolia Environnement’s financial results and the price of its shares, the risk that Veolia Environnement may incur environmental liability in connection with its past, present and future operations, as well as the other risks described in the documents Veolia Environnement has filed with the Autorité des Marchés Financiers (French securities regulator). Veolia Environnement does not undertake, nor does it have, any obligation to provide updates or to revise any forward-looking statements. Investors and security holders may obtain from Veolia Environnement a free copy of documents it filed (www.veolia.com) with the Autorités des marchés financiers.
This document contains "non‐GAAP financial measures". These "non‐GAAP financial measures" might be defined differently from similar financial measures made public by other groups and should not replace GAAP financial measures prepared pursuant to IFRS standards.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231108614223/en/
Media Relations Laurent Obadia Evgeniya Mazalova Tél : + 33 (0)1 85 57 86 25
Investor Relations Ronald Wasylec - Ariane de Lamaze Tél. : + 33 (0)1 85 57 84 76 / 84 80
1 Year Veolia Environnement Chart |
1 Month Veolia Environnement Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions