All the Group's results in 2016 exceeded objectives:
- EBITDA increased by 4.3% to €3,056 million. It benefited from continued cost reduction efforts amounting to €245 million in 2016, exceeding the initial objective of €200 million
- Current net income - Group share was €610 million, up sharply by 10.8%
- Free cash flow rose to a record €970 million
- Net financial debt declined €359 million to €7,811 million
- The Post tax ROCE of 7.2% maintained its continuous improvement over the last 4 years.
These results are in line with the 3-year development plan announced at the end of 2015.
Over the period 2017-2019, revenue growth will gradually increase and further cost reductions will be made in order to reach an EBITDA of between €3.3 and €3.5 billion by 2019.
Antoine Frérot, Veolia Environnement’s Chairman & CEO commented: “2016 represents another year of strong results growth for Veolia. These good results were achieved due to the efforts of each and every one of our Group’s employees, and I would like to thank them. At the end of 2015, we presented our 3-year development plan. It is based on controlled and profitable growth and accompanied by continued cost reduction efforts. Our ambition remains intact.”
> Read the press release online: 2016 Annual results
