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Veolia Environnement announces 2.5% revenue growth

Veolia Environnement parent company of Veolia Environmental Services has announced revenue growth of 2.5% in its 2010 annual results.

The report states growth to €34.787m (£30,000m) is a result of the recovering economy but also the “increase and maintenance of raw material prices and energy prices”. It found there was an improvement in organic growth throughout the year going from -3.3% in Q1, +0.9% in Q2, +2.7% in Q3 and +4.7% in Q4. Veolia said this confirmed “a return to positive organic growth”.

It named VES’s waste management and recycling contract renewal in Westminster for the next seven years, and the PFI contract for Staffordshire, as key wins in 2010. The recent win of the Haringey bundled environmental services contract for 14 years was also seen as a good start to 2011.

However, it reported that Veolia Transport and Transdev, which both provide transport services have been combined. It said the transportation division was negatively impacted by the non-renewal of certain contracts.

Looking forward, the company said it “envisions a year of growing results”. It predicts operating income improvements of 4% to 8% (excluding the impact of Veolia Transport and Transdev), net income improvement and minimum cost savings of €250m (£216m), which then rises to €300m (£260m) by 2013.

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