Subscribe free to our newsletters via your
. Earth Science News .

Veolia reports sales slip, shares surge
by Staff Writers
Paris (AFP) Nov 07, 2013

French water and utilities giant Veolia reported results broadly in line with expectations on Thursday, with a 4.0-percent fall of sales in the first nine months of the year.

But shares in the company shot up by 6.97 percent to 13.05 euros. The overall French market was up by 0.05 percent in morning trading.

One broker who declined to be named said that although the results were lacklustre, the shares had risen because some investors who had expected the shares to fall after rising strongly this year, had closed short-selling positions.

But at RBC brokers, analyst Martin Young said the shares were firm because the group had confirmed its targets, reassuring investors about its determination to cut costs.

Veolia is a leading global supplier of services to treat and supply water, to provide energy and manage waste, and competes with another French giant in the sector Suez Environnement.

The group said that in the nine months sales fell bgy 4.0 percent to 16.16 billion euros ($21.8 billion), but on a comparable asset basis the fall was 1.9 percent.

Activities by the two main divisions of water and waste management were sluggish. Water activities declined by 5.0 percent to 7.5 billion euros and waste by 5.2 percent to 6.0 billion euros.

However, the slowing of waste management volumes was easing up, the group said. Activity had steadied in the third quarter, and had risen by 1.0 percent on a comparable asset basis.

But sales by the energy division, for which Veolia has just announced a deal with French power group EDF to share out the assets of their big joint venture Dalkia, held up, advancing 0.3 percent to 2.5 billion euros.

The company's operating cash flow measure, similar to earnings before interest, tax depreciation and amortisation (Ebitda), fell by 8.0 percent to 1.29 billion euros.

But recurrent operating profit rose by 19.0 percent to 620.8 million euros, mainly because the group had made provisions at the same time last year.

Chief executive Antoine Frerot told a telephone press conference: "The group is continuing its strategy and this has enabled our performance to be in line with the recovery path we have set ourselves."




Related Links
Water News - Science, Technology and Politics

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Rising temperatures challenge Salt Lake City's water supply
Boulder CO (SPX) Nov 06, 2013
In an example of the challenges water-strapped Western cities will face in a warming world, new research shows that every degree Fahrenheit of warming in the Salt Lake City region could mean a 1.8 to 6.5 percent drop in the annual flow of streams that provide water to the city. By midcentury, warming Western temperatures may mean that some of the creeks and streams that help slake Salt Lak ... read more

Space technologies boost disaster reduction int'l co-op

How to Manage Nature's Runaway Freight Trains

Uruguay to pull peacekeepers from Haiti: president

Storm-battered northern Europe slowly gets back to normal

NASA Technologists Embrace Laser Instrument Challenge

High Energy Prairie View A and M Interns Collaborate with NASA Goddard on Radiation Effects Research

Less Toxic Metabolites, More Chemical Product

A noble yet simple way to synthesize new metal-free electrocatalysts for oxygen reduction reaction

Veolia reports sales slip, shares surge

The nitrogen puzzle in the oceans

Rising temperatures challenge Salt Lake City's water supply

Water mark: Los Angeles fetes 100 years of aqueduct

Search on for oldest antarctic ice in hunt for ancient climate clues

Stowaways threaten fisheries in the Arctic

The search for the oldest ice cores

Dutch plead in court for release of Greenpeace activists

Researchers slam palm oil initiative as industry meets

China exchange hatches plan for egg futures

Warsaw climate meet must measure rich lands' emissions

We'll rise or fall on the quality of our soil

Improving earthquake early warning systems for California and Taiwan

Guatemala warns pilots of ash plume from volcano

Tropical Storm Sonia weakens after hitting Mexico

Hundreds evacuated as Indonesia volcano erupts

African leaders discuss rapid-deployment emergency force

Hong Kong firm debuts in Africa with $104m S.African deal

Tanzania halts anti-poaching drive after abuse claims

China backs African bid to suspend ICC Kenya case

Scientists tracking Brazilian wildlife find ancient cave paintings

Study: Humans made sophisticated stone tools earlier than thought

Did hard-wired fear of snakes drive evolution of human vision?

Hair regeneration method is first to induce new human hair growth

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement