Veolia powers higher amid debt reduction

|About: Veolia Environnement ADR (VEOEY)|By:, SA News Editor

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.