PARIS (dpa-AFX) - Veolia Environnement SA (VIE), a French water, waste, and energy management solutions provider, reported Thursday that its nine-month current EBIT, a key earnings metric, was 2.60 billion euros, higher than last year's 2.52 billion euros. At constant scope and forex, Current EBIT increased 6.4 percent.
EBITDA grew to 4.94 billion euros from prior year's 4.79 billion euros, with organic growth of 5.6 percent.
EBITDA margin improved 72 basis points to 15.2 percent from 14.5 percent last year.
Group consolidated revenues amounted to 32.54 billion euros, higher than prior year's 33.16 billion euros. Revenues increased 1.7 percent on a like-for-like basis, and 5.1 percent excluding the impact of energy prices, which mainly affected Europe excluding France.
Further, the company raised annual cumulative synergies target to above 430 million euros at end 2024, over a total plan of 500 million euros by 2025.
Looking ahead, for fiscal 2024, the company continues to current net income Group share above 1.5 billion euros, organic growth of EBITDA between 5 percent and 6 percent, and solid organic growth of revenue.
Further, for GreenUp 2024-2027, the maintained targets of solid revenue growth, 350 million euros savings per year, over 8 billion euros of EBITDA in 2027, and around 10 percent annual growth in current net income over 2023-2027.
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