Veolia expects higher profit after Suez takeover | Photo credits: VEOLIA library
March 17 (Reuters) – Veolia said on Thursday it expects its current net profit to rise by more than 20% this year, once the water and waste management company completes the takeover of its main rival Suez.
The group, which obtained the approval of the European competition authorities in December for this 13 billion euro operation, plans to increase its current net profit in 2022 to around 1.1 billion euros, against 896 million the last year.
It is counting on an increase of nearly 10 billion euros in its turnover, which reached 28.51 billion in 2021.
The group is still awaiting approval from the British financial regulator, which it hopes to receive this year. It closed its takeover bid for Suez shares at the end of January.
(Report Sarah Morland and Dagmarah Mackos, edited by Marc Angrand)