Resource management company Veolia Environnement SA reported higher earnings in 2017 than a year earlier as the company's water, waste and energy businesses posted solid revenue growth.
The company reported net income attributable to owners of €401.6 million, or 60 euro cents per share, for 2017, up from €383.1 million, or 57 cents per share, in 2016. Earnings before interest, taxes, depreciation and amortization, or EBITDA, increased 2.0% to €3.28 billion from €3.22 billion in the prior year.
"Sales growth accelerated throughout the year due to actions implemented at the end of 2016," said Chairman and CEO Antoine Frerot. "Results growth was amplified quarter after quarter thanks to our commercial successes, and continued discipline on our part in terms of cost reductions."
Revenue grew 3.9% to €25.12 billion in 2017 from €24.19 billion in 2016 and was up 4.9% at constant exchange rates. Revenue for the company's waste business rose by 8.1% at constant exchange rates, energy revenue increased by 7.1% and water revenue was up 1.6% from the previous year.
The company expects sustained revenue growth to continue in 2018 and EBITDA growth to be above that of 2017. It expects EBITDA in the range of €3.5 billion to €3.7 billion for 2019.