November 7, 2017 / 6:33 AM / 12 days ago

Utility Veolia's 9-month net profit falls 1.6 pct, confirms guidance

PARIS, Nov 7 (Reuters) - French water and waste group Veolia said net profit in the first nine months of 2017 fell 1.6 percent to 406 million euros ($471.20 million), and the group confirmed its guidance for 2017-19 earnings.

Veolia’s current earnings before interest and taxes (EBIT) rose 1.3 percent to 1.05 billion euros, core earnings before interest, tax, depreciation and amortisation (EBITDA) edged up 1.3 percent to 2.36 billion euros, while revenues rose 3.7 percent to 18.22 billion euros.

Analysts polled by ThomsonReuters had expected current EBIT of 1.05 billion euros, EBITDA of 2.36 billion euros and revenue of 18.13 billion euros.

The company confirmed its guidance for stable to moderate EBITDA growth in 2017, more sustained EBITDA growth in 2018 and EDITDA of 3.3 to 3.5 billion euros in 2019.

Chief Executive Antoine Frerot said Veolia had won new contracts across all its businesses and geographical regions, and that cost savings were in line with its objectives.

$1 = 0.8616 euros Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta

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