Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Veolia : Good H1 2022, guidance reaffirmed but another negative reaction

>Outperform rating and target price of € 43.4 maintained - The excellent H1 performance of the new Veolia confirms the soundness of the merger with Suez. Excluding the effect of energy prices, organic growth in sales (+7.6%) and EBITDA (6.1%) driven by good activity levels in most regions, sound pricing trends (indexation tied to inflation, services and secondary raw materials), solid volumes in waste activities and scrupulous pursuit of cost-savings, came in above ha...
Underlying
Veolia Environnement SA

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).

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

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