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Veolia reports very strong growth of H1 2021 Results

  • Veolia reports very strong growth of H1 2021 Results

About the entity

Veolia
Veolia Water Technologies specializes in water treatment solutions and provides the complete range of services required to design, build, maintain and upgrade water and wastewater treatment facilities for industrial clients and public authorities.
Schneider Electric

Themes

Very strong growth of H1 2021 results

Activity and results significantly above 2020 levels and largely above 2019

Veolia is ahead of its objectives and is heading towards a record year of profits

2021 objectives raised: EBITDA target raised from more than €4 bn to more than €4.1 bn

Combination with SUEZ: on 29 June, recommendation of Veolia tender offer by Suez board and binding offer on new Suez from the consortium Meridiam-GIP-CDC/CNP for €10.4 bn

Opening of the tender offer on Suez at €19.85 dividend included since July 29th

  • Revenue of €13,645 m, up +11.2% vs. H1 2020 and up +4.6% vs. H1 2019
  • Very strong EBITDA growth, to €2,081 m, an increase of +31.4% vs. H1 2020 and of +6.2% vs. H1 2019, thanks to good commercial momentum in all businesses, and to €204 m efficiency gains ahead of the annual target of €350 m
  • Current EBIT of €901 m, more than doubled vs. H1 2020 and increased by +7.8% vs. H1 2019
  • Net current income group share of €516 m, strongly up +49% vs. H1 2019
  • 2021 EBITDA guidance raised from more than €4.0 bn to more than €4.1 b

Antoine Frérot, Veolia’s Chairman & CEO commented: “Veolia achieved record results in the first half of 2021. All our operational and financial indicators have registered outstanding growth, both compared to 2020 and to 2019. At the beginning of the year, I had announced that Veolia’s performance in 2021 would be above 2019. With revenue up by +4.6%, EBITDA growth of +6.2% and current net income increasing by +49% compared to the 1st half of 2019, we are very much ahead of this objective and are starting the second semester at full speed, thanks to the adaptation measures put in place early on to overcome the effects of the sanitary crisis as quickly as possible.

These absolutely remarkable results and the much better than expected level of activity notably thanks to our innovation capabilities, allow us to raise our 2021 objectives and to now target an EBITDA of more than €4.1 billion for the full year.

I am therefore very confident for the second part of the year. I am also very proud of the Group’s collective capacity to bounce back strongly, and I want to warmly thank all Veolia employees for their unfailing commitment.

It is this collective strength that has enabled us over the past few years to raise Veolia’s performance ever higher. Just as Veolia is about to acquire Suez, the Group has never been in better shape. On July 29th, a new step forward was taken with the opening of our tender offer for Suez shares. By the end of the year, the operation should be finalized and we will give birth to the undisputed world champion of ecological transformation.”

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