Veolia Posts Rise In 2011 Revenue
Veolia Environnement SA (NYSE: VE) swung to a loss in 2011.
Veolia posted a net loss of EUR489.8 million, versus a profit of EUR558.5 million in the year-ago period. Analysts were expecting a profit of EUR106.8 million.
Veolia's revenue surged to EUR29.65 billion from EUR28.76 billion. Its earnings before interest, taxes, depreciation and amortization dropped 14% to EUR3.15 billion from EUR3.66 billion.
Veolia announced its plans to pay a dividend of EUR0.70 per share for 2011 and 2012.
Veolia shares gained 8% to $13.10 in pre-market trading.
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