Veolia results in 2016 higher than objectives and almost stable revenue

In 2016, Veolia generated revenue of €24,390 million, almost stable against 2015, but up 1.9% in the fourth quarter. The increase was particularly strong internationally: 2.2% in Germany, 2.1% in the United Kingdom, 6.3% in Asia (14.8% in China), 6.8% in Africa Middle East, 12.9% in Latin America.

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.

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.”