The Paris-headquartered company published its quarter 3 financial results on 9 November, with Veolia’s earnings before tax for the year to date stand at €4.7 million (£4.1 million), up by around 7.7% compared to the previous year.
Northern Europe revenues have risen by 5.8%, “due to the UK (+5.6%) with solid waste activity: new contracts, indexations and resilient volumes”
However, the company notes that waste volumes are “slightly down in Europe” compared to the rest of the world.
Recyclate prices are falling in Europe, Veolia warned, but said this has been offset in the UK because of higher electricity revenue prices for its energy recovery portfolio.
Veolia’s UK waste business accounts for 20% of its entire waste portfolio, the results show, behind only France. Revenues from its UK commercial and industrial waste service have risen by between 4.7% to 12.7% year-on-year.
‘Strong performance’
Estelle Brachlianoff, group CEO of Veolia, said: “This very strong performance is underpinned by solid fundamentals such as our resistance to inflation, thanks to the indexation of 70% of our contracts to cost increases, our very low exposure to macroeconomic conditions, and our geographical positioning, with close to 40% of sales outside Europe, including almost $5 billion on a yearly basis in the United States.
“The rigorous management of all our activities, as well as the exemplary delivery of synergies following the merger with Suez, are bearing fruit, and synergies are even well ahead of plan, as we reached our annual target in 9 months. This quarter, Veolia once again demonstrated its ability to take advantage of the strong potential of the environmental services market, driven by growth in demand and tighter regulations, particularly on decarbonisation, water savings and pollution control.”
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