The following is a summary of the Veolia Environnement S.A. (VEOEY) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Veolia reported a 9% increase in 2023 revenue to €45 billion, with a 7.8% EBITDA growth on a like-for-like basis.

• The company achieved €383 million in efficiency and cost-cutting efforts.

• Current net income was €1.335 billion, representing a 14.9% YoY growth.

• Free cash flow reported at €1.143 billion. This contributed to reducing the company's debt to under €18 billion.

• The company proposed a 12% increase in dividends to €1.25 per share.

• Positive After-tax ROCE of over 8% achieved.

Business Progress:

• The company aims to further increase investment in operational efficiency and cost synergies with a target EBITDA growth of 5% to 6% in 2024.

• The company reported strong growth across its water, energy, and waste businesses, with water sales rising by 7.5% and the waste business growing by 3.4%.

• Veolia targets a current net income above €1.5 billion for 2024, expecting continued recurring revenue.

• The company is successfully expanding its international outreach while leading in the ecological transition market.

• Veolia is undertaking projects to convert coal plants into biomass plants, continuing to bolster its ecological credentials.

• The company does not foresee any major M&A but is open to valuable opportunities.

More details: VEOLIA ENVIRONNEMENT SPON ADR EACH REP 0.5 ORD EUR13.5 IR

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