Veolia : A good 9M 2018 publication and a reassuring message
>Recommendation and fair value unchanged - The market’s reaction to the 9M 2018 release was in line with our expectations with a degree of satisfaction regarding the pace of growth in Q3 2018 vs the H1 2018 which was already a robust level. Whilst reported cash flow (-€ 298m vs -€ 89m in 9M 2017) looked disappointing on the face of it, the group’s message on its usual capacity to shrink WCR in Q4 and a net debt trajectory confirming the return to cash-flow generation ...Veolia Environnement provides environmental management services to public authorities, industrial and commercial services customers, and individuals worldwide. These services include the supply of water, the treatment and recovery of municipal or industrial effluent, waste collection, processing and recycling, the supply of heating and cooling services and the optimization of industrial processes. Co.'s business operations are conducted through three divisions, each specializing in a single business sector: Veolia Eau (Water), Veolia Energie (Dalkia, Energy Services) and Veolia Proprete (Environmental Services).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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