PARIS, July 1 French water, waste and energy
group Veolia Environnement expects income from its
foreign water operations to compensate for lower margins at its
water business at home this year, its chief executive said on
Under pressure from difficult water contract renegotiations
with French municipalities, Veolia has looked for new markets
abroad and won contracts in the Americas, Central Europe and
Chief Executive Antoine Frerot said long-term water
contracts abroad were just beginning to earn good profits after
being only marginally profitable in the first few years
following contract signatures.
"Foreign water earnings are coming on stream and are
compensating for the lower results in France. There is always a
point where the two curves cross, and for Veolia this will be in
2014," Frerot told reporters.
He added that he would provide more details on publication
of first-half results on Aug. 28.
In 2013, Veolia booked a 135 million euro ($184 million) net
loss on revenue of 22.32 billion. The firm's global water
revenue fell 4.4 percent to 10.22 billion.
($1 = 0.7331 Euros)
(Reporting by Geert De Clercq; Editing by James Regan)