Veolia swings to greater-than-expected net loss

Veolia (VE) swung to a loss of €135M in 2013 from a profit of €404M a year earlier, with the latest figure exceeding consensus of €82M.

Adjusted net profit jumped to €223M from €58M a year earlier, topping expectations of €70M.

Adjusted operating profit +17% to €922M.

Revenue fell to €22.31B from €23.24B, mainly due to asset sales.

Net financial debt fell to €8.2B from €9.6B at the end of Q3.

Veolia aims to boost adjusted operating cash flow by 10%, and it is targeting "significant growth" in adjusted operating and net profit.

Veolia will pay a dividend in 2015 of €0.70 a share for 2014.

Yesterday, the company's board proposed keeping Antoine Frerot as CEO for another four years despite attempts by a main shareholder to remove him. (PR)

Comments (2)
  • bbor55
    , contributor
    Comments (154) | Send Message
    VE is the greatest stock available on the market. Anyone who doesn't own this guy should be very very sorry.
    27 Feb 2014, 08:21 AM Reply Like
  • vimto
    , contributor
    Comments (2) | Send Message
    Why is it so great?
    21 Mar 2014, 04:55 PM Reply Like
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