ANOTHER QUARTER OF STRONG RESULTS GROWTH THANKS TO RIGOROUS
GROUP MANAGEMENT
9 MONTH EBITDA UP BY +7.7 %(1) AND CURRENT EBIT UP BY +14.2 %(1)
STRONG NET FREE CASH FLOW GENERATION AT 30 SEPTEMBER LEADS TO
DECREASE IN NET FINANCIAL DEBT
2023 TARGETS FULLY CONFIRMED, WITH EBITDA(1) GROWTH AT THE TOP END OF
THE RANGE OF +5% to +7% AND LEVERAGE RATIO NOW EXPECTED BELOW 2.9x(2)
9-MONTH REVENUE OF €33 161 M SHARPLY UP BY +10.7 %(1) DRIVEN BY STRONG COMMERCIAL MOMENTUM AND PRICE INCREASES
GROWTH OF +4.6 %(1) EXCLUDING ENERGY PRICES, SIMILAR TO H1
9-MONTH EBITDA OF €4 793 M STRONGLY UP BY +7.7 %(1) THANKS TO CONTINUED OPERATIONAL EXCELLENCE AND DELIVERY OF THE SUEZ SYNERGIES, AHEAD OF TARGET
€131 M OF SYNERGIES IN 9 MONTHS, ALMOST OUR FULL YEAR OBJECTIVE, LEADING TO €277 M OF CUMULATED SYNERGIES SINCE THE ACQUISITION OF SUEZ, AHEAD OF OUR OBJECTIVE OF MORE THAN €280 M CUMULATED AT THE END OF 2023 AND OF €500 M OVER 4 YEARS
€284 M OF EFFICIENCY GAINS IN 9 MONTHS AHEAD OF OUR ANNUAL TARGET OF €350 M
9-MONTH CURRENT EBIT(2) SHARPLY UP BY +14.2 %(1), TO €2 518 M
STRONG NET FREE CASH FLOW GENERATION IN Q3 AND DECREASE OF NET FINANCIAL DEBT TO €18.9BN(2)
2023 TARGETS FULLY CONFIRMED, AND IMPROVEMENT OF LEVERAGE RATIO NOW EXPECTED BELOW 2.9x(2)
EBITDA ORGANIC GROWTH(1) EXPECTED AT THE TOP END OF THE +5% TO +7% RANGE
CURRENT NET INCOME GROUP SHARE AROUND €1.3 BILLION(2)
1 at constant scope and forex
2 Excluding Suez purchase price allocation
Estelle Brachlianoff, Group CEO, commented:
After an excellent first half with strong growth, Veolia continued its momentum in the third quarter with solid growth in activity and earnings, at rates comparable to those seen in the first half of the year. EBITDA at 30 September was up by 7.7% and current EBIT by 14.2%. This very strong performance is underpinned by solid fundamentals such as our resistance to inflation, thanks to the indexation of 70% of our contracts to cost increases, our very low exposure to macroeconomic conditions, and our geographical positioning, with close to 40% of sales outside Europe, including almost $5 billion on a yearly basis in the United States. The rigorous management of all our activities, as well as the exemplary delivery of synergies following the merger with Suez, are bearing fruit, and synergies are even well ahead of plan, as we reached our annual target in 9 months. This quarter, Veolia once again demonstrated its ability to take advantage of the strong potential of the environmental services market, driven by growth in demand and tighter regulations, particularly on decarbonisation, water savings and pollution control. This commercial momentum was illustrated in the third quarter by the award of a €2 billion contract in Hong Kong, which will save 10 million tonnes of carbon, and record order intake of €3.1 billion in water treatment technologies, in which we are the leader. These fundamentals - tight management and unique positioning - mean that we can look to the future with confidence and determination, fully confirming our 2023 targets and now aiming for leverage of less than 2.9x at the end of the year, just 18 months after the acquisition of Suez.
Contacts
Media Relations
Laurent Obadia - Evgeniya Mazalova
Anna Beaubatie - Aurélien Sarrosquy
Tél : + 33 (0)1 85 57 86 25
Mail : [email protected]
Investor Relations
Ronald Wasylec - Ariane de Lamaze
Tél. : + 33 (0)1 85 57 84 76 / 84 80