The Chairman and CEO of Veolia Water Technologies, Antoine Frérot, said the company’s earnings outlook was solid due to a number of new contracts and a positive contract renewal rate, reported Yahoo Finance.
The company’s full year results are to be published on 21 February, but the CEO has advanced that “2018 was a very strong year”, and that the fourth quarter would show a continuing growth trend of the first nine months.
Last November, Veolia announced very good results for the first nine months of 2018, with the best growth in revenue and income since 2014, with core earnings up by 5.1% to 2.42 billion euros.
This year, the company is also drawing up a new 2020-23 strategic plan, focusing on projects with leading potential in terms of growth and profitability. Frérot also said that the company’s “least profitable activities will be sold”.
Veolia is to open up to new geographies and purchase new technologies, especially in sectors such as recycling used oil, plastic and solvents, handling of low-radioactivity nuclear waste and micro pollutants in water.