Veolia Q1 Profit Climbs; Confirms FY18, FY19 Outlook - Quick Facts

(RTTNews) - French resource management firm Veolia Environnement (VE) Thursday reported that its first-quarter current net income - Group share climbed 25.7 percent to 193 million euros from last year's restated net income of 154 million euros.

Adjusted current net income - Group share was 164 million euros, compared to 155 million euros a year ago.

Revenue for the quarter increased 3.7 percent to 6.42 billion euros from prior year's 6.19 billion euros. Revenues grew 7 percent at constant currency rates and 5.4% on a like- for-like basis.

EBITDA improved 3.4% at current exchange rates and 5.3% at constant exchange rates to 876 million euros.

Looking ahead to 2018, the company continues to expect EBITDA growth greater than that of 2017, at constant exchange rates and continuation of sustained revenue growth. For 2019, Veolia still forecast 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. The company still expects continuation of revenue growth and full impact of cost savings.

Dividend growth is expected in line with that of current net income.