By John Stang
Paris-based waste and water management multinational Veolia said Thursday net income rose on a boost in revenue for the first nine months of 2018.
“Veolia’s nine-month results are very satisfying. Revenue growth is sustained and solid, and provides operating leverage resulting in growth in net current income of 20 percent as to Sept. 30.,” CEO Antoine Frerot said in a press release.
Revenue in the first nine months of 2018 was 18.761 billion euros ($21.331 billion), a moderate step up from 18.221 billion euros ($20.717 billion) in the same period in 2017.
Net income with capital gains landed at 457 million euros ($520 million) through Sept. 30, compared to 406 million euros ($462 million) in the same period of 2017. Without factoring capital gains, Veolia posted 437 million euros ($497 million) in the first nine months of 2018, well above 382 million euros ($434 million) in 2017.
In earnings before interest, taxes, depreciation, and amortization (EBITDA), Veolia posted 2.418 billion euros ($2.749 billion) for the first nine months of 2018, compared to 2.301 billion euros ($2.616 billion) on a year-over-year basis.
Veolia has been expanding into the nuclear cindustry. It bought California-based cleanup technology provider Kurion in 2016 and eventually placed it under the Veolia Nuclear Solutions business line, which provides nuclear decommissioning and radioactive waste management services. Also in January, Veolia bought Department of Energy contractor Wastren Advantage.
Early this year, Veolia Nuclear Solutions partnered with two Canadian companies to form the Nuclear Innovation Consortium. The other partners are Hatch, an engineering firm based in Ontario, and Promation, an Ontario-headquartered producer of tooling, automation, and robotic technologies. The consortium mission is to provide remote access and robotic systems, automation, simulation, and virtual reality for the nuclear industry.
Veolia’s North America revenue increased by 7.5 percent in the first nine months of 2018, to 613 million euros ($695 million), according to a Wednesday slide presentation. Its hazardous waste revenue for first nine months of 2017 and 2018 increased from 757 million euros ($858 million) to 827 million euros ($938 million).
