Higher recyclate and electricity prices boost Veolia UK results

Veolia’s UK revenues grew by 11.8% in the first half of 2022 to €1.25 billion (£1.04 billion), which the French company put down to higher electricity and recyclate prices and “commercial momentum”.

Veolia Suez
The deal for Suez remains subject to CMA approval, and the 'New Suez' has first refusal

In results published this morning (3 August), Veolia added that the increase on the same period last year in the UK was also down to new contracts, a 6% jump commercial waste volumes and better energy from waste (EfW) availability.

Globally the countries revenues in the first half of 2022 grew by 46.2% to €20.1 billion due to the integration of Suez, but this is not included in the UK’s results as it awaits competition clearance.

Estelle Brachlianoff, chief executive of the Veolia group, said: “Veolia’s performance during the first half of the year was once again very good.

“Q2 activity was on a very similar trajectory as in the first quarter. The integration of Suez’s activities since mid-January was very successful. Their contribution in terms of revenue and synergies is up to our expectations, which confirms the merits of this acquisition. These very good results also benefited from the continued strict cost discipline which allowed us to fully confirm our 2022 objectives.”

Recycled materials

Veolia reported that across the board, its revenues from the sale of recyclables grew by €242 million, driven  mostly by cardboard in France, UK, Germany.

On the UK and Ireland results, the company added: ” The United Kingdom and Ireland reported revenue growth of +12.4% at constant scope and exchange rates, with the favorable impact of recyclate prices (paper and plastic), higher energy volumes and prices and the good performance of incinerators (facility available rate of 94.8% in 2022 compared with 93.1% in 2021), despite a slight downturn in waste landfill volumes due to unfavorable weather conditions in H1 2022″.

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Veolia H1 2022 results

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