Shares of Veolia Environnement (VE) were gaining around 2 percent in the morning trading in Paris after the French resource management firm reported Thursday higher profit in fiscal 2021. Further, the company lifted dividend and said it sees higher results in fiscal 2022.
For fiscal 2021, net income - Group share surged to 404.3 million euros from last year's 88.8 million euros.
Current net income - Group Share was 895.8 million euros, compared to 381.8 million euros a year ago. Current net income - Group share, per share was 1.45 euros, up from 0.72 euro last year.
EBITDA grew 16 percent to 4.23 billion euros.
Revenue for the year grew 9.6 percent to 28.51 billion euros from last year's 26.01 billion euros.
Further, Veolia's Board of Directors will propose to shareholders at the Annual General Shareholders Meeting on June 15 the payment of a dividend of 1 euro per share for fiscal 2021, up 43 percent from last year, payable in cash.
Looking ahead for fiscal 2022, the company projects current net income to grow by more than 20 percent in 2022 to around 1.1 billion euros. The company sees solid revenue growth, and organic growth of EBITDA between 4 percent and 6 percent.
The company expects to enhance earning per share by around 40 percent in 2024.
In Paris, Veolia shares were trading at 29.89 euros, up 2.33 percent.
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