Utility Veolia posts higher first-quarter earnings and maintains 2021 outlook By Reuters

© Reuters.

© Reuters. The Veolia logo is seen in Saint-Herblain, near Nantes, France, on April 12, 2021. REUTERS / Stephane Mahe

PARIS (Reuters) – French power company Veolia, which last month agreed to a 13 billion euro ($ 15.6 billion) merger deal with rival Suez, posted higher first-quarter earnings on Wednesday and maintained its financial outlook. for 2021. Veolia reported earnings before interest, taxes, depreciation and amortization (EBITDA) for the first quarter ended March 31 of 1,078 million euros, compared to 970 million the previous year. Revenue increased 2 percent from last year to € 6.810 million, while net income increased 58.7 percent to € 186 million. In April, Veolia reached a merger deal with Suez worth nearly € 13 billion after months of disputes between the two French water and waste management companies. “On April 11, we signed an agreement to buy the Suez Group and create the undisputed world champion of green transformation,” said Veolia President and CEO Antoine Frerot. “This combination, which should be finalized by the end of the year, opens up great development prospects at a time when environmental priorities have never been higher on the agenda,” Frerot added. ($ 1 = 0.8318 euros)

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