Veolia Environnement's consolidated revenue rose 8.8% to 7,795.1 million versus 7,162.5 million at March 31, 2006 (3). Internal growth came in at 4.4%. This figure includes the 134 million negative impact of very mild weather conditions in Europe, as well as a net negative impact of 23 million resulting from the decrease in energy prices on revenue in the energy business. Excluding these impacts, internal revenue growth would have been 6.6% and total growth 11%.
The 5.4% external growth resulted, in particular, from the acquisitions made by Veolia Environnement's waste management division in the United Kingdom (with a contribution of around 180 million), and Veolia Transport in France and the United States. The negative 74.4 million impact of exchange rate fluctuations (-1%) primarily reflected the depreciation of the US dollar against the euro. The share of revenue posted outside France totaled 4,155.6 million, or 53.3% of the total versus 50.6% at March 31, 2006.