Veolia confirms a strong rebound in activity, with Q3 2020 results above expectations and above those recorded in the same period the previous year. This announcement, which comes at a time when the economy is struggling with the impact of the health crisis, demonstrates the Group’s capacity to absorb shocks, to recover quickly and strongly and to pursue ambitious plans for the future.
Veolia has maintained and will continue to maintain its full range of essential services throughout the world, including in countries that have been hit particularly hard by the pandemic. At the same time, it has safeguarded employee health and safety to the absolute best of its abilities. The people at Veolia have responded present, day in, day out, which explains the way in which the Group has managed to very quickly bounce back to near normal business levels.
The Group’s strong capability to adapt and the engagement of all its employees has paid off. Alongside these efforts, a very encouraging third quarter puts Veolia in a position to aim to achieve a level operating performance in the fourth quarter equivalent to that recorded in the same period in 2019.
At constant scope and exchange rates, 2020 Q3 results have already exceeded 2019 figures, with revenue totaling €6,293 million, stable on Q3 2019, EBITDA equaled €893 million, up 2.5% on the year, current EBIT came out at €333 million, up 4.3% on the year, and current net income, Group share reached €142 million, up 10.6% on the year.
Pour continuer d’alimenter la croissance future de Veolia, le Groupe a maintenu tous ses To continue fueling future growth, the Group has decided to sustain investment in development and innovation, which has made it possible to expand its toxic waste processing capabilities in Asia and the Middle East. The Group will also continue to invest and innovate in the high-growth areas of recycling plastic or organic waste, for example in Asia, and pursue its acquisitions in toxic waste in the US and energy management in eastern Europe, as with the recent takeover of the heating network on Prague’s left bank.
Antoine Frérot, Veolia’s Chairman and CEO stated, “In a global economic context heavily impacted by the sanitary crisis, Veolia has reacted swiftly to implement the safest working conditions for its employees and has once again demonstrated its capacity to absorb shocks, to recover quickly and strongly and to pursue ambitious plans for the future. The rebound that began in June and was amplified during the summer has resulted in a very good Q3: revenue was back at the level of 2019, while profits were above, thanks to the adaptation measures put in place at the beginning of the crisis. I am very proud of all the work accomplished and I would like to thank all our employees whose total commitment has enabled us to continue to deliver high quality services to our clients and to recover a positive momentum very quickly. This is par for the course for the benchmark environmental services company.”
