2017 Group annual results: Strong growth in activity and results above objectives
In 2017, Veolia achieved revenue of €25,125 million, 4.9%[1] and 3.5% like- for-like growth. The fourth quarter demonstrated continued business momentum with faster revenue growth (+6.3%[1]).
EBITDA is up 2.7%1[1] to €3,284 million (with notably a growth of 5.2% 1 in the 4th quarter)
The cost savings target for the year was achieved with €255 million realized
Current net income – Group share amounted to €623 million, up 7,3%1[1] excluding capital gains
Further increase in post-tax ROCE to 8.4%
These good results, combined with the commercial reinforcement launched a year ago, mean the 2018-2019 targets can be fully confirmed. In addition, at the Annual Shareholders' Meeting on 19 April the Board of Directors will propose increasing the dividend by 5% increasing the dividend to €0.84 per share for the financial year2017.
Antoine Frérot, Veolia’s Chairman & CEO indicated: «2017 has been an intense and successful year for Veolia and was fully in line with the growth trajectory we are aiming for. Sales growth accelerated throughout the year due to actions implemented at the end of 2016. Results growth was amplified quarter after quarter thanks to our commercial successes, and continued discipline on our part in terms of cost reductions. Over the last 4 years, EBITDA has risen by 20%, current EBIT by 75% and current net income has more than tripled. The sum total of these results allows me to approach 2018 with confidence. Revenue and earnings should again post good growth. Our 2018 and 2019 objectives are entirely confirmed.
[1]At constant exchange rates
At current consolidation scope and exchange rates : revenue +3.9%, EBITDA growth of 2.0%, current EBIT growth of 4.1%, and current net income – group share up 4.4% (+5.5% excluding capital gains).
