Key figures as of September 30 2018: continuation of sustained revenue growth and clear acceleration of results progression
Veolia has today announced very satisfactory results for the first nine months of 2018. The performances achieved in Q3 were particularly good, with an acceleration of all of our operational indicators. Growth in revenue and income in Q3 is the strongest performance since 2014.
Revenues amounted to €18,761m, up 6.6% at constant exchange rates compared to the first nine months of 2017.
Sales growth accelerated in Q3, with an increase of + 7.8%. This performance follows the first two quarters of sustained growth (+ 5.1% in Q2 and + 7.0% in Q1).
Over the period as a whole, turnover evolved as follows:
In France, activity increased slightly (+0.7%)
Europe excluding France grew by 7.0% : + 3.8% for the United Kingdom / Ireland zone, + 5.7% in Central and Eastern Europe, + 12.0% in Northern Europe
The Rest of the World continued to grow strongly with an increase of 12.9%: + 4.4% in North America, + 9.6% for the Africa / Middle East zone, + 13.2% for the Pacific zone, + 13.5% in China and + 30.2% in Latin America
Global Businesses revenue increased by 4.6%.
EBITDA was €2.418M, up 6.9% over 9 months. It grew by 9.4% at constant exchange rates in Q3.
Current EBIT increased by 9.8% at constant exchange rates. It was €1,100 million at September 30, 2018, compared to €1,024 million at September 30, 2017.
Current Net Income Group Share was €457M up 20% at constant exchange rates compared to the first nine months of 2017.
The Group achieved €228 million in savings in the first nine months of the year (€80 million in Q3, €78 million in Q2 and €70 million in Q1). These savings are in line with the €300 million annual cost reduction target.
Antoine Frérot, Chairman and CEO, indicated: “The Group's growth is driven by our commercial dynamism and our continued strict discipline in terms of cost reduction. All these performances allow us to fully confirm our objectives and to be confident in our outlook for 2019.”
