February 7, 2019 / 10:21 AM / 9 months ago

Veolia CEO: company's outlook is strong thanks to new contracts, renewals

PARIS, Feb 7 (Reuters) - French water and waste group Veolia CEO Antoine Frerot said the outlook for the company was strong thanks to a string of new contracts and a good contract renewal rate.

Frerot also said that earnings in the fourth quarter had continued the strong trend of the first nine months.

“2018 was a very strong year,” Frerot told reporters at a strategy day.

In November, Veolia posted the best quarterly earnings growth since 2014, thanks to strong waste volumes in Europe, continued cost cutting and several new contracts, with core earnings up by 5.1 percent to 2.42 billion euros ($2.8 billion).

Frerot said he was confident about the future, as Veolia was winning lots of new contracts and seeing good contract renewal rates.

$1 = 0.8815 euros Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta

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