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)
Feb. 27, 2014, 3:55 AM|2 Comments
Feb. 28, 2013, 3:24 AM
Veolia Environnement (VE): 2012 net profit €394M vs loss of €490M in 2011 and consensus of €215M. Revenue +3% to €29.44B vs consensus of €29.1B. Ahead of plan for debt reduction, and now intends to cut debt to €8-9B in 2013 from €11.3B in 2012. Veolia also plans to accelerate asset sales, increasing its 2013 target to €6B from €5B. Proposes dividend of €0.70 this year. Shares +6.4% in Paris. (PR) Feb. 28, 2013, 3:24 AM|1 Comment