Veolia 2015 Net Income Rises; Pro Forma Revenue Up 2.3%

(RTTNews) - Veolia (VE) reported 2015 net income attributable to owners of the company of 450.2 million euros compared to GAAP re-presented 241.8 million euros, prior year. Earnings per share was 0.69 euros compared to 0.32 euros. Current net income increased 74% to 580 million euros from GAAP re-presented 333 million euros in 2014. On a pro forma basis, growth in current net income was 85%.

EBITDA increased 11.3% to 3.0 billion euros compared to GAAP represented prior year figures. On a pro forma basis, EBITDA increased 5.3% at constant consolidation scope and exchange rates. Current EBIT posted strong growth of 25.5% to 1.3 billion euros. On a pro forma basis, current EBIT increased 18.6% at constant exchange rates.

Revenue for the year ended December 31, 2015 increased 4.5% to 24.96 billion euros compared to GAAP re-presented 23.88 billion euro, prior year. On a pro forma basis, revenue increased 2.3%, but was down 0.6% at constant consolidation scope and exchange rates.

At the Annual General Shareholders Meeting to be held on April 21, 2016, Veolia's Board will propose a dividend payment of 0.73 euros per share in relation to the 2015 fiscal year. Beginning with 2016, the Board envisions average annual dividend growth of around 10% per year.

The Group's 2016 objectives include: revenue and EBITDA growth; and current net income of at least 600 million euros. The Group targets revenue of at least 27 billion euros, and current net income of at least 800 million euros in 2018.