Suez Environment received an income of €565m ($771.8m) for 2010, an increase of 40% compared with 2009s figure of €403m ($550.5m).

The France-based companys revenue increased by 12.8% to €13.869bn ($18.8bn) for the year to December 2010.

Suez Environment also reported a 13.6% rise in earnings before interest, tax, depreciation and amortisation (EBITDA) to €2.3bn ($3.1bn) with €120m ($163.9m) cost savings.

The company expects its revenue to increase by 5% next year and EBITDA to rise by 10%.

Suez acquired a 75.01% stake in Spanish water company Agbar last June, giving it access to Agbars Spanish and Chilean markets.