Veolia Environnement(US:VEOEY)2023-05-07 02:28Financial Highlights - Veolia reported strong Q1 2023 revenue growth of +19.9% to €12.007 billion[7, 8], or +6.3% excluding energy prices[7] - The company's EBITDA increased by +8.0% to €1.574 billion[8] - Current EBIT was up +14.0% to €788 million[8] - Net financial debt was €18.7 billion[8] Synergies and Efficiency - Veolia achieved €43 million in synergies in Q1 2023, with a cumulative €189 million since day 1[8], and is on track to exceed €280 million by the end of 2023[3] - Efficiency gains of €87 million were realized in Q1 2023, aligning with the annual target of €350 million[3, 8] Segment Performance - Water revenue reached €4.270 billion, up +9.9% at constant scope and FX[32] - Waste revenue was €3.603 billion, up +3.2% at constant scope and FX, or +5.7% excluding recyclate prices[35] - Energy revenue surged to €4.133 billion, showing an organic growth of +54%[38] Guidance and Outlook - Veolia fully confirmed its 2023 guidance, expecting solid organic revenue growth and EBITDA organic growth between +5% to +7%[24] - The company anticipates a current net income of around €1.3 billion, a double-digit increase compared to 2022[24]