VEOEY - Veolia Environnement S.A. reports FY results; initiates FY23 outlook

• Veolia Environnement S.A. press release ( OTCPK:VEOEY ): FY strong EBITDA growth, to €6,196M vs. €5,823M at 31 Decembre 2021 combined, a growth of +7.2 % at constant scope and exchange rates.
• Revenue of $42.88B up 49.4% at constant exchange rates compared to reported 2021 revenue.
• Strong current EBIT growth of +16.3% at constant scope and forex, to €3,062M.
• Net income group share was €716M vs. €404M at 31 December 2021 published (+77%).
• Objectives 2023: Solid organic growth of revenue; Efficiency gains above €350m complemented by additional synergies for a cumulated amount of €280m end-2023, in line with the €500m cumulated objective; Organic growth of EBITDA between +5 % and +7 %; Current net income group share around €1.3B; Confirmation of the EPS accretion of around 40 % in 2024; Leverage ratio around 3x; Dividend growth in line with current EPS growth.

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