© Reuters. FILE PHOTO: A logo on the windows of the Veolia Environnement headquarters in Paris, France, February 9, 2022. REUTERS/Benoit Tessier
(Reuters) – Revenue for France’s Veolia jumped 49.1% in period to the end of September, the company said on Wednesday, mostly driven by its takeover of rival Suez earlier this year.
The waste and water company’s revenue for the nine-month period climbed to 30.71 billion euros ($30.92 billion), while its earnings before interest, taxes, depreciation and amortization (EBITDA) in the same period jumped to 4.53 billion euros, up 5.2% compared to 2021 levels.
The acquisition of Suez in February contributed to revenue growth of 7.12 billion euros, an organic growth of 13.2% for Veolia and Suez together.
“Our tariff indexation business models with municipal clients as well as our strict pricing discipline with industrial clients have enabled us to absorb cost inflation and deliver strong earnings growth,” Chief Executive Officer Estelle Brachlianoff said in a quarterly earning statement.
“This very good performance is also the result of an integration of Suez ahead of schedule.”
The utility company said it now aims for the upper-end of its organic growth EBITDA forecast between 4% and 6% in 2022, and confirmed the rest of objectives for the year.
($1 = 0.9930 euros)
(Reporting Dina Kartit, edited by Christian Schmollinger)
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