Prime Highlights-
- Veolia reports a 5.1% rise in nine-month core profit as international growth and a water technologies recovery offset lower energy prices.
- Nine-month revenue rises 2.6% to €33.31 billion, while EBITDA reaches €5.40 billion, up 5.1% from a year earlier.
Key Facts-
- Water Technologies posts 2.6% organic growth, helped by better order intake and Middle East project activity.
- Veolia secures nearly €200 million in Oman and UAE contracts totaling 490,000 cubic meters per day.
Background-
Veolia reported a 5.1% rise in nine-month core profit on Thursday, as international growth and a recovery in its water technologies business offset lower energy prices.
Veolia, Europe’s largest environmental services company, provides water, waste and energy services to municipalities and industrial customers worldwide.
Nine-month revenue rose 2.6% at constant scope and exchange rates, excluding energy prices, to €33.31 billion ($37.51 billion). Earnings before interest, taxes, depreciation and amortization (EBITDA) reached €5.40 billion, up 5.1% from a year earlier.
Water Technologies posted 2.6% organic growth over the first nine months. Better order intake and a rebound in Middle Eastern project activity helped the unit make up for earlier delays. Veolia secured nearly €200 million in contracts in Oman and the United Arab Emirates, with a combined capacity of 490,000 cubic meters per day.
CEO Estelle Brachlianoff told journalists on a media call that activity in the Middle East is still building back after project delays linked to regional tensions. She described the recent desalination contract awards in the UAE and Oman as an encouraging sign. The company fully confirmed its full-year guidance and its GreenUp plan trajectory.