Veolia FY22 Net Income Rises; Revenue Up 14.1% On LFL Basis

Veolia Group (VE) reported fiscal 2022 net income group share of 716 million euros compared to 404 million euros, prior year. EBITDA increased to 6.20 billion euros from 5.82 billion euros combined, a growth of 7.2% at constant scope and exchange rates.

Current net income group share was 1.16 billion euros, up 27.7% at constant forex. Current EBIT was 3.06 billion euros, up 16.3% from combined 2021, driven by EBITDA growth and operating leverage.

Revenue was 42.88 billion euros, up 14.1% from combined last year, an increase of 6.5% excluding energy prices.

For 2023, the company expects: solid organic growth of revenue; organic growth of EBITDA between 5% and 7%; and current net income group share around 1.3 billion euros. The company noted that the guidance is in line with 2024 merger accretion objectives.

The Board will propose to the General Meeting of 27 April 2023 the payment of a dividend of 1.12 euros per share for financial year 2022, payable in cash. The ex-dividend date is 9 May 2023. The 2022 dividends will be paid from 11 May 2023.

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