Veolia Environnement, the leading French resource-management company, has announced a significant increase in its first-half earnings. The company reported a net profit of 523 million euros ($572.1 million) for the period from January to June, compared to 236 million euros in the previous year. This impressive growth was driven by a surge in revenue, which rose by 14% on a like-for-like basis to reach 22.75 billion euros.
Veolia attributes its positive financial performance to the successful integration of Suez, which has resulted in a notable reduction in acquisition and integration costs. The company also highlights the role of energy in driving revenue growth, citing the sharp increase in prices for heat and electricity sold.
Despite the challenging market conditions, Veolia remains confident in achieving its targets for 2023. The company anticipates organic earnings before interest, taxes, depreciation, and amortization (EBITDA) growth at the high end of its projected range of 5% to 7%.
The strong financial results showcase Veolia Environnement's ability to navigate the evolving business landscape and capitalize on emerging opportunities. With its continued focus on sustainable resource management, the company is poised to maintain its position as an industry leader.
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