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Veolia backs outlook as profit, revenue rise

Veolia Environnement SA said Wednesday that net profit and revenue rose in its first quarter, and it backed its outlook for the full year.

The French resource-management company's net profit increased to 188 million euros ($225.9 million) from EUR121 million in the same period year-earlier.

Quarterly revenue rose 2% to EUR6.81 billion, benefiting from good commercial momentum, it said.

"Material price effects on recyclates, positive tariff impacts, and a favorable weather offset the limited and controlled impact of a resurgence in the Covid-19 epidemic in all geographies," Veolia said.

The company backed its guidance for the year, including 2021 revenue above the level of 2019 and earnings before interest, taxes, depreciation and amortization above EUR4 billion, both at constant exchange rates and excluding the integration of Suez SA.

Write to Kim Richters at [email protected]

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