Veolia reports strong growth in annual revenue and earnings in 2021

Net current income of €1.1bn forecast for 2022

The French environmental services group Veolia significantly increased its turnover and earnings last year. The company reported an increase in turnover of almost 10 per cent over 2020 last week in Paris, bringing consolidated annual revenues to €28.5bn. Earnings before interest, taxes, depreciation and amortisation (Ebitda) came in at €4.2bn, above the group’s raised guidance and up 16 per cent at constant currency. Net annual income after minority interests reached €404m, more than four times the previous year’s figure of €89m. In a presentation for analysts, CEO Antoine Frérot described 2021 as “the best year in more than ten years”.

Worldwide, the group’s waste management revenues rose by 16 per cent, climbing from €9.6bn in 2020 to €11.2bn. Veolia attributed the growth primarily to rebounding waste volumes and higher secondary raw material prices. In its home market of France, Veolia’s waste management operations booked €2.9bn in revenue, up 18 per cent year on year. In Veolia’s Northern Europe region, which includes the United Kingdom, the division’s revenue grew 12 per cent at constant scope and currency to reach €2.3bn. In the Central Europe region, consisting mainly of Germany, the division achieved organic revenue growth of 18 per cent to approximately €1.3bn.

 

“Veolia starts 2022 in good conditions, just as we begin to integrate the activities we bought from Suez through the tender offer,” commented Veolia’s CEO Antoine Frérot at the presentation of the financial report. “Close to €10bn of revenue will complement our 2021 revenue of €28bn, an increase of more than 30 per cent which will notably strengthen our international footprint, and accelerate innovation.” This growth, in addition to the expected synergies, would enable Veolia’s net current income to grow by more than 20 per cent in 2022. “The creation of the undisputed world champion of ecological transformation is underway and on track,” added Mr Frérot....

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