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SUEZ

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Suez : Utility Veolia posts higher Q1 profits and keeps 2021 outlook

05/05/2021 | 01:32am EDT
Logo of Veolia

PARIS (Reuters) - French utility Veolia, which last month agreed a 13 billion euros ($15.6 billion) merger deal with rival Suez, posted higher first quarter earnings on Wednesday and kept its 2021 financial outlook.

Veolia reported earnings before interest, tax, depreciation and amortisation (EBITDA) for the first quarter ending March 31 of 1.078 billion euros, up from 970 million a year earlier.

Revenues rose 2 percent from last year to 6.81 billion euros, while net income jumped by 58.7 percent to 186 million euros.

In April, Veolia struck a merger deal with Suez worth nearly 13 billion euros after months of wrangling between the two French waste and water management companies.

"On April 11th, we signed an agreement to purchase Suez Group and to create the undisputed world champion of ecological transformation," said Veolia Chairman and Chief Executive Antoine Frerot.

"This combination, which should be finalized by the end of the year, opens up great development prospects at a time when environmental priorities have never been higher on the agenda," added Frerot.

($1 = 0.8318 euros)

(Reporting by Benjamin Mallet; Editing by Sudip Kar-Gupta)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
SUEZ 0.13% 19.865 Real-time Quote.22.32%
VEOLIA ENVIRONNEMENT -0.08% 25.73 Real-time Quote.28.64%
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Financials
Sales 2021 16 998 M 20 402 M 20 402 M
Net income 2021 412 M 495 M 495 M
Net Debt 2021 9 808 M 11 771 M 11 771 M
P/E ratio 2021 33,9x
Yield 2021 3,35%
Capitalization 12 681 M 15 219 M 15 220 M
EV / Sales 2021 1,32x
EV / Sales 2022 1,28x
Nbr of Employees 81 689
Free-Float 52,3%
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Technical analysis trends SUEZ
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus UNDERPERFORM
Number of Analysts 9
Average target price 18,78 €
Last Close Price 19,84 €
Spread / Highest target 3,33%
Spread / Average Target -5,37%
Spread / Lowest Target -22,4%
EPS Revisions
Managers and Directors
NameTitle
Bertrand Camus Chief Executive Officer & Director
Julian David Waldron Chief Financial Officer
Philippe Varin Chairman
Jean-Marc Boursier Chief Operating Officer
Delphine Ernotte Cunci Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
SUEZ22.32%15 219
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STERICYCLE, INC.10.51%7 031
CLEANAWAY WASTE MANAGEMENT LIMITED19.57%4 484