VEOEY - Veolia posts higher full-year profit guides for 20% net income boost

Veolia Environnement (VEOEY +3.1%) rises in European trading after reporting higher FY 2021 profit and revenues, and guiding for a 20%-plus increase in net income in 2022 after finalizing the takeover of top rival Suez. The French company said full-year net profit jumped to €404.3M ($446M) from €88.8M in 2020, as revenue rose to €28.5B from €26B, in part because of higher volumes, and it proposed a dividend of €1.00/share for FY 2021, up from €0.70 for 2020. For FY 2022, Veolia expects to add close to €10B in revenues and sees 4%-6% organic growth for EBITDA, noting its exposure to Russia and Ukraine is very limited. AlphaValue analyst Nicolas Bouthors said the outlook matched an "aggressive consensus" and hailed good signals on the Suez integration, according to Reuters. The company continues to await antitrust approval from the U.K. market regulator, which closed its tender offer for Suez shares at

For further details see:

Veolia posts higher full-year profit, guides for 20% net income boost