French environmental services concern Veolia reports "a very strong start to the year" with organic revenue growth of nearly 20 per cent for the first quarter of 2023. The year-over-year increase was driven chiefly by sharply increased energy prices, but also by improvements in its own pricing. Excluding the impact of energy sales, organic revenue growth stood a slightly more than 6 per cent, the concern said at the release of its quarterly earnings report on Thursday morning.
CEO Estelle Brachlianoff said, "2023 has started perfectly for Veolia and builds on the excellent trends of the end of 2022." She viewed the concern's strong first quarter performance as an indicator of Veolia's "low sensitivity to the economic cycle and our ability to pass on cost increases in our prices."
New contracts on the international market
Among the highlights of the recent quarter, Veolia named the award of a contract to operate an energy from waste (EfW) plant in Turkey. The facility has a capacity to process 1.1 million tonnes of waste per year. It had also been selected for an integrated waste management contract in Gold Coast, Australia, which would generate up to €500m over a potential term, with extensions, of 25 years.