appending instead of overwriting?

Hello,

I have this SQL JOB running every 12 hours and it is continusouly appending the files, I was expecting overwriting the files...

BACKUP DATABASE VeeamBackup TO disk='D:\SQL VeeamDB Backups\VeeamBackup\VeeamBackup\MyDB.back' WITH INIT
BACKUP LOG VeeamBackup TO DISK = 'D:\SQL VeeamDB Backups\VeeamBackup\VeeamBackup\VeeamBackup.TRN' WITH INIT
DBCC SHRINKDATABASE (VeeamBackup, TRUNCATEONLY)

what is wrong?

Thanks,

DOm

System Center Operations Manager 2007 / System Center Configuration Manager 2007 R2 / Forefront Client Security / Forefront Identity Manager