Veolia's plastic recycling revenue up by 30%

Written by: Editorial staff | Published:
Growth of Veolia's new business has been strong, the group said

Waste management firm Veolia has seen a revenue increase of 30% in its plastics recycling.

According to its first half results Veolia said the growth of its new business has been very strong, with a reported 13% increase in its hazardous waste revenue.

The French waste and water group revenue was €13,324 million during the first half of 2019 compared with €12, 588 million in the first half of 2018.

Veolia’s revenue from plastics recycling will bring in €400 million to €450 million (about $470 million) this year, up from just €50 million a few years ago, and could top €1 billion by 2025, the group said.

A 5% decrease in paper prices was offset by the boost in plastic prices.

Veolia said growth was driven by commercial momentum, good volumes in both waste and water and price increases.

Antoine Frérot, Veolia’s chairman and CEO, said: “The first half of 2019 activity and results are fully in line with our sustained and profitable growth trajectory.

“Results also progressed at a very good rhythm, driven by sales growth and by cost reduction efforts achieved in the first semester, ahead of the annual objective, thanks to numerous operational efficiency and synergy actions.”

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