PARIS (dpa-AFX) - French resource management firm Veolia Environnement (VE) reported Thursday that its fiscal 2020 net income group share fell 85.8 percent to 88.8 million euros from last year's 624.9 million euros.
Current net income group share was 415 million euros, down 45.4 percent from 760 million euros a year ago. Current net income per share was 0.72 euro, down from 1.31 euros a year ago.
Current EBIT declined to 1.28 billion euros from 1.73 billion euros last year. EBITDA was 3.64 billion euros, compared to 4.02 billion euros in the prior year.
Revenue of 26.01 billion euros declined 4.3 percent from 27.19 billion euros in 2019. Revenues dropped 2.9 percent at constant exchange rates and of 2.5 percent at constant scope and exchange rates.
Further, Veolia's Board of Directors will propose to shareholders at the Annual General Shareholders Meeting on April 22 the payment of a dividend of 0.70 euro per share with respect to the 2020 fiscal year, payable in cash.
Despite the continued sanitary crisis since the beginning of the year, Veolia should more than offset the unfavorable impacts of 2020 and
Looking ahead, the company plans to achieve strong growth in its results in 2021.
Revenue is expected to be above 2019 level, and EBITDA is expected to be above 4 billion euros, a growth of more than 10 percent from last year.
The company also issued objective to recover the pre-crisis dividend policy in 2021.
Copyright RTT News/dpa-AFX