Veolia announces very strong 2018 first half results
Veolia announced very strong 2018 half-year results this morning, marked by continued strong growth in business and an acceleration in EBITDA in the second quarter.
► Group consolidated revenue was €12,565 million up 6.0% at constant exchange rates compared to the first half of 2017. The Group has thus recorded 7 consecutive quarters of sustained growth.
- In France, activity was relatively stable (- 0.3%) in the first half
- Revenue in Europe excluding France was up 6.8%: +12.8 % in Northern Europe; + 4.4% in the United Kingdom / Ireland zone; + 4.1% in Central and Eastern Europe
- Revenue in the rest of the world continues to grow strongly to reach + 14.0%: + 29.1% in Latin America; + 21.8% in Asia; + 15.2% in the Pacific zone; + 8.9% in Africa / Middle East; + 4.9% in North America
- Global activities are up 1.3%.
►EBITDA was €1,673 million in the first half of 2018 compared with €1,614 million in the same period in 2017, an increase of 5.8% at constant exchange rates.
The increase in EBITDA accelerated in the second quarter (+ 6.4%), after a rise of 5.3% in the first quarter (at constant exchange rates).
► Savings achieved in the first half of 2018 are in line with the annual target of €300 million. They were €148 million in the first six months of the year (€70 million in the first quarter and €78 million in the second quarter).
► Current EBIT was up 6.8% at constant exchange rates. It was €791.7 million in the first half of 2018 compared with €759.9 million in the first half of 2017.
► Net current income Group share was €329 million, up 19% (at constant exchange rates) compared to the first half of 2017 (€290 million).
► Net Financial Debt stood at €10,609 million as at 30 June 2018, compared to €8,553 million at June 30, 2017.
With these good results, Veolia fully confirms its objectives for the whole of 2018.