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Veolia reports record third-quarter figures

Veolia-branded waste collection vehicle
Veolia's waste operations benefited from increased
secondary raw materials prices and waste volumes.
04.11.2021 − 

French environmental services group Veolia says it is in a "very solid position" ahead of the planned acquisition of its competitor Suez. At the release of its quarterly financial statement, the company reported strong growth. "After a flying start to the year, Veolia has maintained an outstanding pace of growth in the third quarter, even stronger than in 2019, both in terms of activity and results", commented CEO Antoine Frérot in Paris. "All indicators are green".

The group's global revenue from waste management activities reached €8.2bn in the first three quarters of 2021. This is a 15 per cent increase compared to the same period in 2019, when waste revenue stood at €7.1bn. Veolia attributes the growth to rising prices for secondary raw materials, growth in waste volumes and price increases. Overall, the amounts of waste handled by the group have returned to pre-pandemic levels, with the exception of commercial and industrial waste in some geographic regions.

Veolia's consolidated revenue stood at €20.4bn in the first nine months of the year, up from €18.7 last year and €19.8bn in the same period in 2019. The group's current net income after minority interests reached a new record of €667m. This is more than five times higher than the €126m recorded at the same point last year, and up 44 per cent at constant currency compared to 2019, Veolia reports.

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