- At €6,419 million, Group revenue was up 7.0% at constant exchange rates and up 5.4% like for like compared to the first quarter of 2017.
It is growing in all the geographical zones in which Veolia operates:
- In France, revenue increased by 0.6%*
- In Europe excluding France, it grew by 6.9%* (+ 4.0% in the United Kingdom, + 6.3% in Central Europe, + 11.8% in Northern Europe)
- In the rest of the world, it grew strongly by 14.7%* (+ 9.9% in Africa Middle East, + 10.1% in North America, + 13.1% in Oceania, + 21.1% in Asia, + 22.5% in Latin America)
- Global Business revenue was up 3.5%*.
- EBITDA was €876 million, up 5.3% at constant exchange rates.
This growth is mainly due to revenue growth and cost savings achieved during the first quarter. These are €70 million, in line with the annual objectives.
- Current EBIT increased by 6.9% at constant exchange rates to €448 million.
- Current net income - Group share was €193 million, up 31.8% at constant exchange rates.
- Financial debt fell to €8,213 million from €8,418 million in the first quarter of 2017.
Antoine Frérot, Veolia’s Chairman and CEO indicated: “We have accomplished a very good start of the year, confirming the pertinence and the good execution of our strategic plan. Sales growth was amplified quarter after quarter, with this sixth consecutive quarter of sustained progression of activity, supported by good commercial momentum, particularly outside of France. Results also progressed at a very good rhythm, driven by sales growth and by the acceleration of cost reduction efforts in line with the annual objective of €300 million. The performance accomplished in the first quarter allows us to be very confident in the achievement of our full year objectives.”
In light of these good results, the Group confirms its outlook for the financial year 2018.
- 2018 (at constant exchange rates):
Continuation of sustained revenue growth
EBITDA growth greater than that of 2017
More than €300 million in cost savings
- 2019 (at constant exchange rates, based on the end of 2016) :
Continuation of revenue growth and full impact of cost savings
EBITDA between €3.3 billion and €3.5 billion (excluding IFRIC 12), i.e. between €3.5 billion and €3.7 billion including IFRIC 12
- Dividend growth in line with that of current net income
* at constant exchange rates