Veolia powers higher amid debt reduction

Veolia Environnement (VE +2.5%) moves higher after reporting its net financial debt stood at €9.6bn at the end of Q3 vs. €10.8B at the end of last year amid otherwise lackluster earnings results.

Revenue for the first nine months of the year was €16.2B, down 1.9% Y/Y and in line with analysts’ expectations, but adjusted operating income rose 20.4% to €621M during the nine months.

VE says the conclusion of talks under way with French electricity utility EDF (ECIFF, ECIFY) to divide Dalkia’s business would lead to VE taking over 100% of Dalkia’s international activities.

Comments (1)
  • kevinconway
    , contributor
    Comments (2755) | Send Message
    Water is going to be the next getting away from the fact that massive amounts of money will be spent on water and wastewater in the future...that is a key driver behind this company. Excellent reorginazation ...very bright prospects for the future...long term hold.
    7 Nov 2013, 12:53 PM Reply Like
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