The following is a summary of the Veolia Environnement S.A. (VEOEY) Q4 2023 Earnings Call Transcript:
Financial Performance:
Veolia reported a 9% increase in 2023 revenue to €45 billion, with a 7.8% EBITDA growth on a like-for-like basis.
The company achieved €383 million in efficiency and cost-cutting efforts.
Current net income was €1.335 billion, representing a 14.9% YoY growth.
Free cash flow reported at €1.143 billion. This contributed to reducing the company's debt to under €18 billion.
The company proposed a 12% increase in dividends to €1.25 per share.
Positive After-tax ROCE of over 8% achieved.
Business Progress:
The company aims to further increase investment in operational efficiency and cost synergies with a target EBITDA growth of 5% to 6% in 2024.
The company reported strong growth across its water, energy, and waste businesses, with water sales rising by 7.5% and the waste business growing by 3.4%.
Veolia targets a current net income above €1.5 billion for 2024, expecting continued recurring revenue.
The company is successfully expanding its international outreach while leading in the ecological transition market.
Veolia is undertaking projects to convert coal plants into biomass plants, continuing to bolster its ecological credentials.
The company does not foresee any major M&A but is open to valuable opportunities.
More details: VEOLIA ENVIRONNEMENT SPON ADR EACH REP 0.5 ORD EUR13.5 IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.