French environmental group Veolia published its first-half results in Paris today. The take-over of a large part of its competitor Suez’s business in mid-January and organic growth raised the revenue of the group, which is active in the waste, water and energy sectors, to €20.2bn. Current net profit after minority interests reached €528m. For the first six months of 2021, Veolia had reported revenues of €13.6bn and a current net profit of €516m.
"Veolia’s performance during the first half of the year was once again very good," commented Estelle Brachlianoff, Veolia’s new CEO since 1 July. "The integration of Suez’s activities since mid-January was very successful. Their contribution in terms of revenue and synergies is up to our expectations, which confirms the merits of this acquisition".
Against the background of the positive first-half figures, Ms Brachlianoff reiterated the group’s objectives for the full year 2022. They include "solid organic revenue growth", an organic increase in earnings before interest, taxes, depreciation and amortisation (Ebitda) of 4 to 6 per cent, and current net income after minority interests of €1.1bn.
Veolia's global waste management operations benefited in the first half of the year from higher prices for recovered paper, waste plastics and other recycled raw materials, price increases for waste management services and "solid waste volumes", the group reported. The waste business's six-month revenue of €7.8bn represents a 10 per cent increase at constant scope of consolidation and exchange rates compared to the same period last year, according to Veolia....