Veolia Q1 Revenue, Adj. Operating Profit Down On Bad Weather

(RTTNews) - French utility Veolia Environnement SA (VE) said Wednesday its revenue for the first quarter slid 1.2 percent, or 1.7 percent at constant scope and exchange rates, to 5.688 billion euros from last year's re-presented 5.757 billion euros, negatively impacted by weather in Dalkia France operations.

Excluding Dalkia France, revenue growth was 3.8 percent, or 3.1 percent at constant scope and exchange rates, in the quarter.

The group reported that Dalkia France revenue declined sharply, driven by a significant unfavorable weather impact due to an exceptionally mild winter, as well as the continued programmed end of gas cogeneration contracts.

For the first quarter, adjusted operating income declined 7.3 percent, or 6.5 percent at constant exchange rates, to 376 million euros. On the same basis, and excluding Dalkia France operations, adjusted operating income increased 7 percent.