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Veolia reports ‘good momentum’ in UK operations

Veolia Environnement reported a 10.4% year-on-year revenue growth in UK waste operations for the first quarter of 2014, mentioning a “good momentum” in its activities in the country.

The Paris-based company said that the positive performance in the UK was due to the progression of integrated contracts.

It singled out the signing of a £142m agreement with Brent Council, which includes ground maintenance of public spaces, as a “commercial success” of the first three months of 2014.

Overall, the company’s waste operations across the world grew 4.8% year-on-year. This was due to an increase in volumes and service prices remaining stable, said Veolia.

The group’s total revenues, however, declined 1.2% following the negative performance of energy subsidiary Dalkia.

Dalkia France’s turnover dropped 20.7% in the period driven by “a significant unfavourable weather” impact as a result of an “exceptionally mild winter”, as well as a programmed end of gas cogeneration contracts, said Veolia.

Dalkia’s French operations have now been taken over by other energy provider EDF following a split of the joint venture in March. Veolia retains international operations.

Antoine Frérot, chairman and chief executive officer at Veolia, expressed satisfaction for the company’s performance in the first quarter.

“The year 2014 has started off well for Veolia, with satisfactory results,” he said.

“We achieved steady growth in our businesses, with the exception of Dalkia, which was heavily penalised by an exceptionally mild winter that weighed on heating activity. Excluding Dalkia operations, adjusted operating cash flow increased 9.6%1. These solid results put us on the targeted path for the full year.”

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