(Boursier.com) — Veolia rose by 0.7% this Friday, while the group posted an annual turnover of 45,351 ME, strong organic growth of 9%, and +4.4% excluding the effect of the increase in energy prices. EBITDA reached €6,543 million, showing sustained organic growth of +7.8%, above the target range of +5% to +7%.
Veolia also announced 389 ME in efficiency gains for an annual objective of 350 ME, 168 ME in synergies, above the annual objective, or 315 ME cumulatively.
A dividend of 1.25 euros per share
Current EBIT rose sharply by +13.7%, to €3,346 million. Current net income of €1,335 billion is up +14.9%, above the target of €1.3 billion.
The increase in Free Cash Flow to 1,143 ME allows a reduction in net financial debt to 17,903 ME, i.e. leverage of 2.74x
Veolia will propose a dividend of 1.25 euros per share at the AGM…
The 2024 objectives are intended to be ambitious, with “solid” organic growth in turnover, organic growth in EBITDA between +5% and +6%, a current net profit share of the group above 1.5 billion euros and maintaining the net debt/EBITDA ratio below 3x. Among the latest broker opinions, AlphaValue remains a buy on Veolia with a price target adjusted to 41.40 euros.
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