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Veolia Environnement (OTCPK:VEOEY) (OTCPK:VEOEF) -1.5% in Europe after saying FY 2023 results exceeded its targets, with organic sales rising by 9% Y/Y to €45.35B, EBITDA up 7.8% to €6.54B, above company guidance of a 5%-7% increase, and current net income up 14.9% to €1.33B.
Veolia (OTCPK:VEOEY) (OTCPK:VEOEF) said it will propose a dividend of €1.25/share for 2023, up from €1.12/share in the previous year.
The company said it is issuing “ambitious” guidance of 5%-6% organic revenue growth in 2024 and dividend growth in line with current EPS growth.
Under its new “GreenUp” medium term strategic plan, Veolia (OTCPK:VEOEY) (OTCPK:VEOEF) targets “solid” organic revenue growth during 2024-27, at least €8B in EBITDA at the end of the period and €350M/year of savings.
“We look forward to 2024 with great confidence, perfectly poised for another year of strong earnings growth, and in particular a target of current net income above €1.5B,” CEO Estelle Brachlianoff said.
The CEO said Veolia (OTCPK:VEOEY) (OTCPK:VEOEF) is optimistic on prospects for its businesses in the U.S. regardless of the outcome of the November presidential elections.
“Veolia’s U.S. businesses, regardless of what happens in November, have a great future. Why? Because it’s not legislation that fuels demand for our services in the U.S., like in Europe and everywhere, but more so people’s needs,” Brachlianoff said.