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Veolia Environnement profit misses consensus by 16.8% in H1

Veolia Environnement SA said its first-half normalized net income was 39 euro cents per share, compared with the S&P Capital IQ consensus estimate of 47 cents per share.

EPS decreased 8.4% year over year from 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €224.6 million, a decline of 7.1% from €241.8 million in the year-earlier period.

Total revenue climbed on an annual basis to €12.35 billion from €11.84 billion, and total operating expenses grew from the prior-year period to €11.64 billion from €11.11 billion.

Reported net income fell 26.5% year over year to €120.6 million, or 21 cents per share, from €164.2 million, or 29 cents per share.