Revenue at Veolia, the French transnational that purchased California-based nuclear-cleanup technology company Kurion last year, just about stabilized in 2016, with the company predicting growth in 2017 in a press release Thursday.
Revenue at the Paris-based water and waste group slipped less than 1 percent to roughly €24 billion, or a little more than $25 billion, according to the press release. Yearly net earnings were roughly $645 million, the company said.
Kurion, which Veolia acquired last year for $350 million, is expected to crank up its revenue contribution beyond the parent company’s latest medium-term outlook, which went out as far as 2019. By 2020, Veolia has said, it expects to earn some $400 million a year from low-level radioactive waste treatment and nuclear decommissioning, with the former accounting for the lion’s share.
Veolia does not report out results for its nuclear segment — formally called Nuclear Solutions and consisting of subsidiaries Kurion, Alaron, and Asteralis. Nuclear revenue is recorded under the company’s “Rest of the World” segment, where revenue in 2016 grew nearly 4 percent to just over $6 billion. Segment earnings rose some 7 percent to more than $900 million for the year.
Veolia is eyeing both U.S. civilian and defense nuclear waste. The company made a significant personnel move on the latter front earlier this month when it added David Campbell, formerly of Bechtel as of Friday, to the fold as senior vice president for Veoilia Nuclear Solutions Federal Services.
