Veolia H1 Profit Rises; Confirms FY18, FY19 Outlook - Quick Facts

(RTTNews) - French resource management firm Veolia Environnement (VE) reported Wednesday that its first-half net income group share increased 13.5 percent to 225.4 million euros from last year's represented profit of 198.5 million euros.

Current Net Income Group share was 328.9 million euros, compared to represented 290 million euros in 2017.

EBITDA improved 3.7% to 1.67 billion euros from prior year's 1.61 billion euros. EBITDA grew 5.8% at constant exchange rates.

Group consolidated revenue was 12.57 billion euros, up 3.1 percent from 12.19 billion euros a year ago. Revenues grew 6 percent at constant exchange rates.

The company said revenue benefited from an increase of 4% in waste volumes. At constant exchange rates, second quarter revenue grew 5.1%.

Looking ahead, the company said it is confident in the achievement of objectives for the full year.

For fiscal 2018, the company continues to expect, at constant exchange rates, continuation of sustained revenue growth, EBITDA growth greater than that of 2017, and cost reductions of more than 300 million euros.

For 2019, the company still expects continuation of revenue growth and full effect of cost savings, and EBITDA between 3.3 billion euros and 3.5 billion euros, excluding IFRIC 12, and between 3.5 billion euros and 3.7 billion euros including IFRIC 12.