February 28, 2020 / 6:30 AM / a month ago

Veolia targets higher core earnings by 2023 after sligh beat

Feb 28 (Reuters) - French water and waste group Veolia said on Friday it aimed to increase its core earnings in the next three years through more focused investments globally and a higher portfolio rotation.

The company said it targeted annual earnings before interest, tax, depreciation, and amortization (EBITDA) of 4.7 billion to 4.9 billion euros, and net attributable group income of around 1 billion euros by 2023.

Veolia has recently been focusing more on areas such as treating toxic waste and recycling plastics and last month bought a hazardous waste treatment business in the United States.

The group, which delivers water, waste and energy management solutions across the globe, said it saw an EBITDA of around 4.1 billion euros ($4.46 billion)this year alone.

Veolia’s EBITDA rose 4.5% to 4.02 billion euros in 2019, slightly above its own guidance of 3.9 billion to 4 billion euros.

$1 = 0.9201 euros Reporting by Charles Regnier and Milla Nissi Editing by Tomasz Janowski

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